Italy Salary and Payroll Calculators for 2023 (2023)

FAQs

What is the salary increase for Italy in 2023? ›

In March 2023 contractual hourly wages +0.1% over February and +2.2% year-over-year.

Latest data on Wages (EUR/ Month)

The maximum rate of average wage for employees was 2502 EUR/ Month and minimum was 1176 EUR/ Month.

According to Salary Explorer, the average gross salary for Italy as of March 2023 is around €43,800 per year or €3,650 a month.

If a worker works 52 weeks a year, this equates to a national annual salary of $51,168, up 5.1 per cent from the previous year. Any sum beyond that should be regarded as a good salary; however, this is not always the case.

Wages and salaries increased 4.7 percent for the 12- month period ending in March 2023 and 3.1 percent a year ago. Benefit costs increased 5.0 percent for the 12-month period ending in March 2023.

As you've likely seen in the news, federal civilian employees are getting a significant pay boost in 2023. Civilians will be getting an average 4.6 percent increase. Here are the new GS pay tables.

Living Wage Individual in Italy averaged 893.75 EUR/Month from 2015 until 2018, reaching an all time high of 950.00 EUR/Month in 2017 and a record low of 825.00 EUR/Month in 2015. Italy Living Wage Individual - values, historical data and charts - was last updated on June of 2023.

The top three countries on this list are Switzerland, Luxembourg, and Singapore, where citizens earn more than Rs. 4 lakh per month on average. Specifically, the average monthly salary in Switzerland is Rs. 4,98,567, in Luxembourg it is Rs.

The average rent price in Italy is 800 EUR (880 USD) a month. However, this is just the average—you will find rental prices to range from 490 to 1,550 EUR (540 to 1,700 USD). Below is a table with monthly rental prices by region, from most expensive to least expensive.

Which country has highest salary in Europe? ›

Norway is one of the most developed countries in the world. This state attracts foreigners with a decent standard of living, high wages, a loyal tax system, and employment opportunities in this country. The average salary in Norway allows you to live quite at a decent level.

First off, tipping in Italy is neither mandatory nor expected, but if you do decide to do so, the gesture is a very clear indicator that you appreciated the service provided.

A fall survey by research firm WTW had average estimated salary increases rising to 4.6% in 2023 from actual pay rises of 4.2% last year. A Conference Board poll highlighted a similar trend, with budgets for salary increases rising to 4.3% from 4.1% last year.

Middle class households here earn between $84,673 and $252,754.

Pew draws on the same formula used in the SmartAsset report, defining the middle class as those with incomes between two-thirds and twice the national median income. That works out to a national salary range of roughly $52,000 to $156,000 in 2020 dollars for a three-person household.

1. Social Security Wage Base Increases by Nearly 9% The social security wage base — the maximum income subject to social security tax — will increase from $147,000 to $160,200 starting January 1, 2023. This increase will reflect a nearly 9% jump.

How much of a raise should I ask for? The average pay raise is 3%. A good pay raise ranges from 4.5% to 5%, and anything more than that is considered exceptional.

How much should my salary increase each year? Your salary should increase by at least 3-5% per year. While annual raises vary a lot depending on your circumstance, a raise of at least 5% is more than adequate. Anything above that would be considered higher than average.

Companies typically offer employees a 3-5% pay increase on average. Even if this range doesn't seem like a reasonable raise to you, keep in mind that consistent wage increases can add up over time, providing you with a higher income than what you received when you started at the company.

Is a 3% raise good? ›

An annual pay increase of 3% may not sound substantial, especially when compared to inflation and the rising costs of necessary goods and services, such as healthcare. But in today's environment, it's better than anything. Over time, relatively small raises will compound and may very well result in a very nice salary.

It's the primary reason many people first consider moving overseas. In general, the COL in Italy can be 30% to 70% lower than the cost of living in the U.S., depending on where in Italy you want to live, and how you want to live.

Is 6000 euros a good salary in Italy? 6000€/month is certainly a pretty good figure. You can live like a king, especialy if that amount is nett.

Data from Eurostat states that the average gross salary minus social contributions was around €30,000 in 2021. Italian salaries (€48,103) are lower than the Organization for Economic Cooperation and Development (OECD) average of $51,607 (2021).

Among the top 10 countries that pay the highest salaries globally are Switzerland, Luxembourg, Singapore, USA, Iceland, Qatar, Denmark, UAE, Netherlands, and Australia. On the occasion of #LabourDay2023, the World of Statistics has released data on average monthly salaries around the world.

As of Jun 9, 2023, the average annual pay for an American in the United States is $58,563 a year. Just in case you need a simple salary calculator, that works out to be approximately $28.16 an hour.

The worldwide highest income is earned in Monaco. The smallest budget per capita exists in Afghanistan. In our comparison over 69 countries, the USA comes 7th with an average income of 70,930 USD. The average income is calculated by gross national income and population.

Work Permits

American citizens who have a job offer in Italy, or wish to work in Italy, either temporarily or permanently, must be provided with a work permit obtained by the prospective employer, and must obtain a work visa from the Italian Consular authorities BEFORE coming to Italy.

How much does it cost to live in Italy in US dollars? ›

A family of four estimated monthly costs are 3,077.5$ (2,852.3€) without rent. A single person estimated monthly costs are 882.6$ (818.0€) without rent. Cost of living in Italy is, on average, 18.7% lower than in United States. Rent in Italy is, on average, 58.2% lower than in United States.

Abruzzo. Located to the east of Rome, Abruzzo is arguably the cheapest and the best region to live in Italy. It has great mountains, fantastic scenery, good food, lovely Italian people and plenty of expats.

Buying or renting depends on future plans

Another key point when choosing to rent or buy is your personal and professional plans. Are you planning to move? Does your job require you to change cities often? If the answer is yes, renting is the best option; buying a house, on the other hand, is a long-term commitment.

In general, wages in the United States tend to be higher than those in Europe, particularly for skilled and high-paying jobs. Part of the reason for this is that the cost of living in the U.S. is usually higher than in Europe. This means that workers need to make more money to keep their standard of living the same.

The cost of living is among the biggest draws, and can be as low as $650 for those living on a budget, and scale up from there to $1,000 per month for a middle-class life, and $2,000 for a lot of luxury.

Poland. Compared to its counterparts, Poland is considered one of the cheapest countries in Europe to live in. It is also one of the most economically developed countries in Eastern Europe. The quality of life in Poland is of comparable standards, plus it is low-cost.

I saw plenty of Italian men on the Metro, at the market, going out to eat, all wearing shorts. You can wear shorts in Cathedrals, they just have to cover your knees. Below is a sign going into a cathedral. It is very clear you can wear shorts, they just have to cover the knees.

The short answer is yes. Drinking water from the tap in Italy is considered safe. Tap water in the major cities and towns around Italy is safe for consumption, and there are thousands of old-style water fountains dotted around cities, like Rome, where you can fill up water bottles.

What is the employment forecast for 2023? ›

Of the 673 million jobs reflected in the dataset in this report, respondents expect structural job growth of 69 million jobs and a decline of 83 million jobs. This corresponds to a net decrease of 14 million jobs, or 2% of current employment.

Let's start with our example of an employee making $52,000. Using our formula, a 3 percent raise would look like this: $52,000 X . 03 = $1,560 raise over the course of the year.

According to a Pew study released last fall, the median income of middle-class American households is $70,784, based on Census data from 2021, the latest available. (Pew defines middle class as two-thirds to twice the U.S. median household income, adjusted for household size.)

Across the entire country, that range is between $47,189 and $141,568, based on Census Bureau income data. But $150,000 is still a middle-class income by Pew's definition in nearly half of the country's 50 most-populated metropolitan areas, where incomes tend to be high.

As of 2022, Pew identified a middle-income household as anywhere between $30,000 (for a single adult) to $67,000 (for a household of five).

One objective way some researchers divide individuals into economic classes is by looking at their incomes. From that data, they split earners into different classes: poor, lower-middle class, middle class, upper-middle class and wealthy.

Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range.

"To be middle class, a household of three would have an income between $40,000 and $154,000." A three-person middle-income household makes about $52,000 to $156,000 every year according to Pew's definition.

Financial Facts About Italy

The average monthly gross salary in Italy is around €2,453 (source Eurostat), or €29,440 per year. For this figure, our calculator projects a salary of €1,676 per month after taxes.

Countries that pay the highest salaries globally are Switzerland, Luxembourg, Singapore, USA.

Is $100 000 a good salary? ›

Earning more than $100,000 per year would put you well ahead of the median American household, which brings in $74,784 as of 2021. Assuming you're an individual without dependents, that salary would qualify you as upper class, according to three different definitions (Brookings, Urban Institute and Pew Research).

To reach the top 1 percent of earners, you would need a monthly take-home salary of 7.190 euros. This is equivalent to an annual net income of almost 86.000 euros, after taxes, or an annual gross salary of around 150.000 euros.

Italy Monthly Earnings stood at 3,411 USD in Dec 2022, compared with the previous figure of 3,309 USD in Sep 2022 See the table below for more data.

Under the new preferential tax regime, an individual would be exempt from income taxes at the normal scale on all foreign income and only pay 7%. This includes pension income, capital gains and dividends, overseas business income, rental income and Social Security.

273 – 275) to those who benefit from a pension treatment abroad (pensions or comparable allowances). These people, if they wish, will be able to access a preferential regime that allows them to subject their income to a 7% substitute tax.