How expensive is work(ing) in a cross-country comparison – for employees and employers? How does Austria compare with the countries of Central and South-Eastern Europe? Where are the ancillary wage costs for companies particularly high? And where do employees retain the highest net amount of their salary or wages, after deductions? A recent study conducted by the TPA Group & Kienbaum provides answers to these questions.
In which Country do employees retain the highest net amount of their salary or wages?
What is left after the deduction of social security and payroll tax, in the account? Austria is among the countries with the highest ancillary wage costs, especially for manager salaries.
I“Many of our clients operate internationally and deploy their workers across country borders. This led us to take a closer look at the issue of labour costs in comparison with many relevant Central and Eastern European countries,” says Klaus Bauer-Mitterlehner, Partner at TPA. The tax advisor is responsible for the study together with Thomas Haneder, also a partner at TPA, and Wolfgang Höfle, TPA’s expert for wage and social insurance. Wolfgang Höfle: “It pays for companies to take a close look, especially if they are posting employees or considering opening a new location.” Thomas Haneder adds: “Nearshoring is the buzzword of the day – personnel costs play a decisive role here, along with other factors.”
How expensive is work? CEE countries under examination
- Austria is among the countries with the highest ancillary wage costs, especially for manager salaries.
The current study was conducted 2021 by TPA partners & tax advisor Dr. Wolfgang Hoefle, SEE-region expert Thomas Haneder and TPA Group partner Klaus Bauer-Mitterlehner.