Wages in Serbia – projections
Wages in Serbia represent payments for work or services under a contract, e.g. employment or some temporary contract.
The average annual wage in Serbia represents the amount of money earned by all work force in Serbia during one year per employee. Wages in Serbia has shown continuous growth over the last ten years. The average gross wages in Serbia for May 2024 were 138,332 dinars (or EUR 1180), while the average net gross wages in Serbia without taxes and contributions were 100,170 dinars (or EUR 855).
The growth of gross wages in Serbia in the period January to May 2024 compared to 2023 are up to 15.3% nominally, i.e. 9.5% real, while the average gross wages were higher by 15.2% nominally, i.e. 9.4 % real.
Median net wages in Serbia for May 2024 were 77,571 dinars, which practical means that 50% of employees earned wages up the stated amount.
Please note that gross wages are not the total cost wages in Serbia. For more precise data in an example, please see the calculator that is available on the home page.
Wages in Serbia by region
In Serbia, wages can vary significantly by region and municipality. According to the latest regulation from 2014, municipalities are divided into five categories depending on their level of development, with the first category consisting of municipalities that are developed above the national average, while the fifth category includes municipalities with a level of development up to 50% of the national average.
As in most European countries, the majority of economic activity is concentrated in Belgrade, where every fourth inhabitant of Serbia lives. The average net salary is slightly higher than in the rest of the country.
The EUR net wages in Serbia by the cities are presented in the following list:
- Belgrade 928
- Novi Sad 854
- Kragujevac 683
- Niš 700
- Čačak 620
- Zrenjanin 660
- Subotica 655
- Nova Varoš 555.
Wages in West Balkan region
Compared to EU member countries, Serbia offers significant savings on wage costs that are allocated in business. In the last 6 years, a strong growing outsourcing trend is recorded in all sectors of the economy, which also strongly correlates with the decreasing unemployment rate i.e. the growth of the employment rate. The following list shows the average monthly wages for 2024 in EUR in countries from the region:
- Albania: Gross 707, Net 578
- Bosnia: Gross 1084, Net 701
- Bulgaria: Gross 1164, Net 903
- Croatia: Gross 1834, Net 1326
- Hungary: Gross 1675, Net 1114
- Montenegro: Gross 1042, Net 832
- North Macedonia: Gross 1008, Net 670
- Romania: Gross 1704, Net 1040.
As can be seen, the region of Vojvodina and Belgrade has higher salaries compared to the rest of Serbia. Accordingly, a trend of falling wages is observed moving from the north to the south of Serbia. The above is particularly important for large investors who increasingly decide to build factories in central Serbia or in the south of Serbia along highways.
Wages in Serbia – expectations for 2025
The Prime Minister of Serbia, Miloš Vucevic, confirmed that negotiations with the unions on increasing the minimum wage will begin.
In his television appearance he pointed out that the Serbian government wants the average wage in Serbia to be over 900 euros by the end of the 2024 and announced a 10 percent increase of pensions.
The Federation of Independent Trade Unions of Serbia announced that it will propose that the minimum wage in 2025 be 60 percent of the value of the average consumer basket, that is, 61,858 dinars (or about EUR 528) ie 355.5 dinars per hour, which is an increase of 31.2 percent compared to this year.