Résumé:
Around 50% of private sector employees in Monaco earn more than €3,256 gross per month, according to a study by the Monegasque Institute of Statistics and Economic Studies (IMSEE).
Histoire complète :
A recent study by the Monegasque Institute of Statistics and Economic Studies (IMSEE) has revealed data on private sector salaries in Monaco. The study shows a positive trend in both the median and average salaries in the Principality.
Based on data provided by the Monaco Social Security Funds, the median salary in 2023 increased by 5.2% to reach €3,256 (€1,287 more than the monthly minimum wage) [source]. Meanwhile, the average salary stands at €4,841.
The study also highlights a decrease in the wage gap between the highest and lowest earners. Approximately one in ten employees earns less than €2,241, a 5.4% increase compared to the previous year. On the other hand, one in ten employees earns more than €7,346, only a 2.5% increase from 2022.
According to the IMSEE, the top three highest paying sectors are financial and insurance activities, information and communication, and wholesale trade. Conversely, the lowest paying sectors are construction, scientific and technical activities, and retail trade.
In terms of gender equality, it is worth noting that women are underrepresented among high earners, accounting for only 16.1% of the top 1% of salaries. Consequently, their average salary is 18.3% lower than that of men in the private sector.
Overall, the study provides valuable insights into salary trends in Monaco’s private sector, demonstrating positive growth in median and average salaries while addressing the wage gap and gender disparities.
Source:
Monaco Tribune
