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Human Resources Average Salaries in Monaco 2024

How much money does a person working in Human Resources make in Monaco?


Average Monthly Salary
4,090 EUR
( 49,100 EUR yearly)

LOW
1,890
EUR
AVERAGE
4,090
EUR
HIGH
6,740
EUR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Human Resources in Monaco typically earns around 4,090 EUR. Salaries range from 1,890 EUR (lowest average) to 6,740 EUR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Human Resources domain in Monaco exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Human Resources
Benefits Administrator2,950 EUR
Benefits Analyst3,270 EUR
Benefits Manager5,550 EUR
Benefits Specialist3,350 EUR
Chief Diversity and Inclusion Officer5,810 EUR
Chief Happiness Officer5,700 EUR
Chief Human Resources Officer6,950 EUR
Chief Listening Officer5,230 EUR
Chief People Officer6,870 EUR
Chief Remote Work and Collaboration Officer5,080 EUR
Compensation Analyst3,220 EUR
Compensation and Benefits Manager5,510 EUR
Compensation and Benefits Officer2,320 EUR
Compensation and Benefits Specialist3,350 EUR
Compensation Manager5,460 EUR
Corporate Director of Human Resources6,960 EUR
Corporate Recruiter4,890 EUR
Corporate Trainer3,390 EUR
Director of Talent Acquisition6,310 EUR
Diversity and Inclusion Specialist4,210 EUR
Employee Benefits Administrator3,960 EUR
Employee Benefits Consultant4,940 EUR
Employee Benefits Coordinator2,210 EUR
Employee Communications Manager4,680 EUR
Employee Development Specialist4,670 EUR
Employee Engagement Specialist4,340 EUR
Employee Experience Manager4,930 EUR
Employee Health and Wellness Administrator4,380 EUR
Employee Performance Specialist3,370 EUR
Employee Relations Analyst4,390 EUR
Employee Relations Manager4,800 EUR
Employee Relations Practitioner4,830 EUR
Employee Relations Representative3,510 EUR
Employee Relations Specialist4,580 EUR
Employee Services Manager4,530 EUR
Employee Services Specialist4,360 EUR
Employee Wellness Officer3,500 EUR
Employment Advice Worker2,270 EUR
Employment Interviewer3,340 EUR
Employment Relations Officer2,420 EUR
Employment Service Specialist2,920 EUR
Employment Services Coordinator3,160 EUR
Enrollment Counselor4,140 EUR
Equal Opportunity Representative3,560 EUR
Executive Human Capital Management6,610 EUR
Executive Recruiter4,770 EUR
Expatriate Administration Manager4,560 EUR
Expatriate Administration Supervisor3,340 EUR
Global Mobility Manager5,950 EUR
Head of Culture5,090 EUR
Head of Human Resources6,000 EUR
Headhunter4,460 EUR
Health Benefits Coordinator2,720 EUR
HRIS Analyst2,490 EUR
HRIS Manager3,920 EUR
HRIS Officer2,170 EUR
HRIS Supervisor2,480 EUR
Human Resources Administration Specialist2,740 EUR
Human Resources Administrative Assistant2,080 EUR
Human Resources Administrative Coordinator2,770 EUR
Human Resources Administrator2,970 EUR
Human Resources Advisor4,500 EUR
Human Resources Analyst3,770 EUR
Human Resources Assessor2,520 EUR
Human Resources Assistant1,990 EUR
Human Resources Assistant Manager4,780 EUR
Human Resources Associate2,080 EUR
Human Resources Compliance Officer4,240 EUR
Human Resources Consultant4,960 EUR
Human Resources Coordinator2,150 EUR
Human Resources Data Analytics Manager4,050 EUR
Human Resources Data Scientist4,310 EUR
Human Resources Deputy Manager 4,940 EUR
Human Resources Development Manager6,130 EUR
Human Resources Director6,670 EUR
Human Resources Executive4,730 EUR
Human Resources Generalist3,500 EUR
Human Resources Manager6,160 EUR
Human Resources Officer2,560 EUR
Human Resources Recruiter4,770 EUR
Human Resources Representative2,720 EUR
Human Resources Section Head4,190 EUR
Human Resources Services Manager5,260 EUR
Human Resources Shared Services Manager4,450 EUR
Human Resources Specialist3,520 EUR
Human Resources Superintendent2,590 EUR
Human Resources Systems Administrator3,740 EUR
Human Resources Technology Consultant3,890 EUR
Human Resources Training Executive4,860 EUR
Human Resources Transformation Consultant4,630 EUR
Human Resources Vice President6,140 EUR
Industrial Organizational Psychologist5,770 EUR
Job Evaluation Specialist4,320 EUR
Labor Relations Director5,410 EUR
Labor Relations Manager5,110 EUR
Labor Relations Specialist2,500 EUR
Learning and Development Manager5,830 EUR
Learning and Development Specialist3,950 EUR
Occupational Health and Safety Officer2,650 EUR
Organizational Development Consultant5,210 EUR
Organizational Development Manager5,390 EUR
Organizational Development Specialist2,990 EUR
Payroll Assistant2,340 EUR
Payroll Supervisor2,790 EUR
People Development Officer3,440 EUR
People Operations Analyst4,170 EUR
Personnel Officer2,100 EUR
Personnel Recruiter4,840 EUR
Records Clerk1,990 EUR
Records Manager2,860 EUR
Recruiter4,860 EUR
Recruiting Coordinator2,540 EUR
Recruiting Manager6,260 EUR
Recruitment Consultant4,400 EUR
Recruitment Officer2,630 EUR
Recruitment Supervisor3,900 EUR
Remote Collaboration Consultant3,520 EUR
Remote Work Compliance Manager4,760 EUR
Remote Work Coordinator3,400 EUR
Remote Work Manager4,180 EUR
Research Associate2,410 EUR
SAP Resource Manager4,800 EUR
Talent Acquisition Manager6,220 EUR
Talent Acquisition Specialist3,620 EUR
Talent Brand Manager5,040 EUR
Talent Management Officer3,120 EUR
Technical Recruiter2,940 EUR
Training Administrator2,810 EUR
Training and Development Manager5,460 EUR
Training and Development Section Head4,840 EUR
Training Executive5,020 EUR
Training Manager5,610 EUR
Training Officer2,390 EUR
Training Specialist3,700 EUR
Workforce Planning Analyst4,150 EUR


Human Resources Jobs Pay Scale and Salaries in Monaco

Median and salary distribution Monaco Human Resources monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
3,680 EUR or more
10% of people earn
3,210 to 3,680 EUR
20% of people earn
2,190 EUR or less
65% of people earn
2,190 to 3,210 EUR
Minimum Salary
1,890 EUR
Median
3,610 EUR
Maximum
6,740 EUR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Human Resources in Monaco range from 1,890 EUR (starting average salary) to 6,740 EUR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Human Resources is 3,610 EUR, implying that half of the workforce in Monaco earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Human Resources in Monaco earn less than 2,910 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 4,190 EUR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Human Resources in Monaco. The analysis revealed that roughly 65% of all reported salaries fell within the range of 2,190 EUR to 3,210 EUR. Approximately 20% of salaries were below the 2,190 EUR mark, while 10% ranged from 3,210 EUR to 3,680 EUR. Only 5% of individuals earned a gross salary of 3,680 EUR or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Human Resources in Monaco having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Human Resources in Monaco, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Monaco costs anywhere from 21,300 EUR to 63,800 EUR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Human Resources / Monaco

Salary comparison by gender Monaco Human Resources monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Human Resources in Monaco, the average difference between the salary of male and female employees is 9%.

Male
4,240 EUR
Female-8%
3,890 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Monaco for all Careers

Salary comparison by gender monthly Monaco
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Average Annual Salary Increment Percentage / Human Resources / Monaco

How much are annual salary increments in Monaco for individuals working in Human Resources? How often do employees get salary raises?

Professionals working in Human Resources in Monaco are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Monaco Human Resources
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Monaco / All Professions

Annual Salary Increment Rate Monaco
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Monaco is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Human Resources / Monaco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Monaco Human Resources
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69% of surveyed staff in Human Resources reported that they haven't received any bonuses or incentives in the previous year while 31% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.

Received Bonus
31%
No Bonus
69%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Hourly Average Wage / Human Resources / Monaco


24 EUR per hour

The average hourly wage (pay per hour) in Human Resources in Monaco is 24 EUR.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Human Resources in Monaco is 11 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Monaco is 10% on average across all career fields.

Private Sector
4,130 EUR
Public Sector+10%
4,550 EUR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Human Resources in Monaco?

A good and competitive compensation would range anywhere between 3,610 EUR and 4,190 EUR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Human Resources in Monaco ranges from 1,890 EUR to 2,910 EUR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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