Resistance of high salaries in the middle of the economic downturn in major German cities
Resistance of high salaries in the middle of the economic downturn in major German cities
In the middle of a economic landscape characterized by recession, job cuts and uncertainty, a surprising trend of resistance from high salaries in major German cities was observed. According to the data from Heyjobs, a leading job platform, top earners continue to receive high salaries despite the economic challenges. An analysis of the data from January 2024 to March 2024 shows that these high salaries are not only constant, but also apparently decoupled from the general economic downturn.
The data show interesting differences in the salaries of the major German cities. In Berlin, the average monthly salary for the top EUR 1,697.37, while in Frankfurt am Main with 10,811 euros there is the highest monthly average content among the cities listed. Hamburg and Stuttgart have the highest annual salaries with EUR 108,214.28 or EUR 101,111.11. Cologne and Hanover also show significant income in both monthly and annual reviews. This reflects the diverse economic bases and resistant high -wage areas of these cities.
To give a better overview of the salaries, the table below is inserted:
Stadt
| annual average content*
| | |
|---|---|---|
| Berlin | 4,697.37 EUR | n/a ** |
| Düsseldorf | 4,435.60 EUR | 100,333.33 EUR |
| Frankfurt am Main | 10,811.00 EUR | 88,723.07 EUR |
| Hamburg | n/a ** | 108,214.28 EUR |
| Hannover | 5,501.00 EUR | 97,777.77 EUR |
| Cologne | 5,344.25 EUR | 92,071.42 EUR |
| Stuttgart | 6,364.22 EUR | 101.111.11 EUR |
*The salaries listed are the average of 10 % of the highest salaries in every city.
Despite these robust salary numbers, the German economy has shown signs of weakening. The Bundesbank report from March indicates a slight decline in real GDP for the first quarter of 2024, and the country's leading business institutes have reduced their growth forecast for 2024 to only 0.1 %. Large companies such as Bosch, SAP and Tesla have already announced significant job cuts in terms of thousands of employees, especially in the automotive and technology sizes. Nevertheless, certain sectors still offer high salaries, as the data show.
The continued existence of high salaries in certain regions and sectors indicates a complex interplay between the requirements of industry and the lack of qualified workers. While the general employment population is faced with layoffs and stops, specialized positions in the areas of finance, technology and management are still paid very well. However, the question arises whether these high salaries are sustainable when the economic downturn continues. Will the financial pressure lead to a re -calibration of the salary structures? This remains to be seen.
About Heyjobs:
Heyjobs is a job platform that revolutionizes recruitment with AI technology. Over 1.5 million people in Germany have already been helped to make their dream job. The platform offers tailor -made job suggestions and supports job seekers over the entire application process.
Source: Heyjobs GmbH/OTS
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