HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Hotel Manager Average Salary in Monaco 2024

How much money does a person working as Hotel Manager make in Monaco?


Average Monthly Salary
7,090 EUR
( 85,100 EUR yearly)

LOW
3,260
EUR
AVERAGE
7,090
EUR
HIGH
11,300
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 as Hotel Manager in Monaco typically earns around 7,090 EUR. Salaries range from 3,260 EUR (lowest) to 11,300 EUR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Hotel Manager salaries in Monaco vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Hotel Manager Pay Scale and Salaries in Monaco

Median and salary distribution Monaco Hotel Manager monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/food-hospitality-tourism-catering/hotel-manager/median-and-salary-distribution-monthly-monaco-hotel-manager.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
6,730 EUR or more
10% of people earn
5,890 to 6,730 EUR
20% of people earn
4,060 EUR or less
65% of people earn
4,060 to 5,890 EUR
Minimum Salary
3,260 EUR
Median
6,780 EUR
Maximum
11,300 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 for the position Hotel Manager in Monaco range from 3,260 EUR (starting salary) to 11,300 EUR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 6,780 EUR, half of the professionals who work as Hotel Manager in Monaco earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Hotel Manager in Monaco earn less than 5,460 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 7,810 EUR while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Hotel Manager in Monaco compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 4,060 EUR to 5,890 EUR. About 20% of salaries are below the 4,060 EUR mark, while 10% fall within the range of 5,890 EUR to 6,730 EUR. Only 5% of individuals have salaries exceeding 6,730 EUR.

Salary Comparison by Years of Experience / Hotel Manager / Monaco

How do experience and age affect pay?

0 - 2 Years
3,700 EUR
2 - 5 Years+34%
4,950 EUR
5 - 10 Years+48%
7,310 EUR
10 - 15 Years+22%
8,910 EUR
15 - 20 Years+9%
9,710 EUR
20+ Years+8%
10,500 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Monaco Hotel Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/food-hospitality-tourism-catering/hotel-manager/salary-comparison-by-years-of-experience-monthly-monaco-hotel-manager.jpg

The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Hotel Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 3,700 EUR.

While someone with an experience level between two and five years is expected to earn 4,950 EUR, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 7,310 EUR, 48% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 8,910 EUR, 22% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 9,710 EUR, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 10,500 EUR, 8% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Salary Comparison By Education / Hotel Manager / Monaco

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Hotel Manager.

High School
4,540 EUR
Certificate or Diploma+18%
5,350 EUR
Bachelor's Degree+45%
7,750 EUR
Master's Degree+31%
10,200 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Monaco Hotel Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/food-hospitality-tourism-catering/hotel-manager/salary-comparison-by-education-level-monthly-monaco-hotel-manager.jpg

We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Hotel Manager in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 4,540 EUR.


Level 2: Certificate or Diploma

At this level, the average salary becomes 5,350 EUR, 18% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 7,750 EUR, 45% more than the previous level.


Level 4: Master's Degree

At this level, the average salary becomes 10,200 EUR, 31% more than the previous level.



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.

You can't really expect any salary increases during the study period, assuming you 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 the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Salary and Compensation Comparison By Gender / Hotel Manager / Monaco

Salary comparison by gender Monaco Hotel Manager monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/food-hospitality-tourism-catering/hotel-manager/salary-comparison-by-gender-monthly-monaco-hotel-manager.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Hotel Manager in Monaco, the average difference between the salary of male and female employees is 19%.

Male
7,710 EUR
Female-16%
6,470 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/salary-comparison-by-gender-monthly-monaco.jpg


Average Annual Salary Increment Percentage / Hotel Manager / Monaco

How much are annual salary increments in Monaco for individuals working as Hotel Manager? How often do employees get salary raises?

Individuals working as Hotel Manager in Monaco are likely to observe a salary increase of approximately 8% every 30 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Monaco Hotel Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/food-hospitality-tourism-catering/hotel-manager/annual-salary-increment-rate-monaco-hotel-manager.jpg


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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/annual-salary-increment-rate-monaco.jpg

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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

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 / Hotel Manager / Monaco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Monaco Hotel Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/food-hospitality-tourism-catering/hotel-manager/annual-salary-bonus-rate-monaco-hotel-manager.jpg

32% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 68% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
68%
No Bonus
32%

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.

Average Hourly Wage / Hotel Manager / Monaco


41 EUR per hour

The average hourly wage (pay per hour) for individuals working as Hotel Manager in Monaco is 41 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 as Hotel Manager in Monaco is 19 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Food / Hospitality / Tourism / Catering-100%
Airbnb Property Manager4,680 EUR-34%
All Rounder1,840 EUR-74%
Assistant Executive Housekeeper1,450 EUR-80%
Assistant Food and Beverage Controller2,470 EUR-65%
Assistant Food and Beverage Director5,550 EUR-22%
Assistant Hospitality Manager5,880 EUR-17%
Assistant Storekeeper1,380 EUR-81%
Assistant Tour Manager2,910 EUR-59%
Baker and Pastrycook1,610 EUR-77%
Bakery Manager3,140 EUR-56%
Bakery Superintendent2,280 EUR-68%
Banquet Captain1,870 EUR-74%
Banquet Manager2,260 EUR-68%
Banquet Server1,540 EUR-78%
Bar Attendant1,600 EUR-77%
Bar Manager2,890 EUR-59%
Bar Supervisor2,170 EUR-69%
Barista1,790 EUR-75%
Bartender1,910 EUR-73%
Bellman1,550 EUR-78%
Beverage Manager3,360 EUR-53%
Bistro Attendant1,660 EUR-77%
Buffet Chef2,590 EUR-63%
Buffet Host1,610 EUR-77%
Buffet Manager3,020 EUR-57%
Butcher and Slaughterer1,380 EUR-81%
Cafeteria Assistant1,710 EUR-76%
Cafeteria Manager2,850 EUR-60%
Cafeteria Supervisor2,130 EUR-70%
Cake Decorator1,730 EUR-76%
Casino Shift Manager4,680 EUR-34%
Chain Store Customer Support2,460 EUR-65%
Chef2,840 EUR-60%
Chef De Cuisine3,680 EUR-48%
Club Manager4,960 EUR-30%
Cluster Director6,130 EUR-14%
Cluster Revenue Manager5,080 EUR-28%
Cocktail Server1,650 EUR-77%
Coffee Shop Manager4,600 EUR-35%
Concierge1,530 EUR-78%
Confectionery Baker1,800 EUR-75%
Conference and Sales Coordinator2,700 EUR-62%
Conference Services Manager3,210 EUR-55%
Cook2,530 EUR-64%
Corporate Sous Chef3,850 EUR-46%
Corporate Travel Consultant3,820 EUR-46%
Croupier1,950 EUR-73%
Culinary Assistant1,410 EUR-80%
Culinary Associate1,470 EUR-79%
Culinary Tour Guide3,520 EUR-50%
Demi Chef2,890 EUR-59%
Dietary Aide2,810 EUR-60%
Dining Room Supervisor2,460 EUR-65%
Dishwasher1,320 EUR-81%
Duty Manager3,150 EUR-56%
Events Coordinator2,300 EUR-68%
Executive Chef3,190 EUR-55%
Executive Pastry Chef2,540 EUR-64%
Fast Food Cook2,270 EUR-68%
Fast Food Shift Supervisor2,350 EUR-67%
Fine Dining Cook3,940 EUR-44%
Fine Dining Restaurant Chef3,680 EUR-48%
Fleet Manager6,590 EUR-7%
Food and Beverage Manager4,890 EUR-31%
Food and Beverage Trend Analyst3,370 EUR-52%
Food Consultant4,250 EUR-40%
Food Photographer3,000 EUR-58%
Food Policy Analyst3,690 EUR-48%
Food Safety Auditor3,610 EUR-49%
Food Safety Compliance Manager3,890 EUR-45%
Food Safety Coordinator3,040 EUR-57%
Food Server1,540 EUR-78%
Food Service Director5,140 EUR-28%
Food Service Manager5,500 EUR-22%
Food Service Sales3,240 EUR-54%
Food Service Worker1,490 EUR-79%
Food Stylist2,410 EUR-66%
Food Sustainability Consultant3,780 EUR-47%
Front Desk Agent1,810 EUR-74%
Front Desk Clerk1,760 EUR-75%
Front Office Manager3,020 EUR-57%
Gastronomy Consultant3,050 EUR-57%
Guest Service Executive4,240 EUR-40%
Guest Service Representative2,000 EUR-72%
Head Chef 3,200 EUR-55%
Head Concierge2,210 EUR-69%
Hospitality Director7,650 EUR+8%
Hospitality Technology Specialist3,280 EUR-54%
Hostess / Host1,790 EUR-75%
Hotel Desk Clerk1,810 EUR-74%
Hotel Maid1,370 EUR-81%
Hotel Manager7,090 EUR-0%
Hotel Revenue Manager4,700 EUR-34%
Hotel Sales Manager5,470 EUR-23%
Hotel Service Supervisor4,300 EUR-39%
Hotel Staff1,570 EUR-78%
Inventory Coordinator1,980 EUR-72%
Kitchen Manager2,850 EUR-60%
Kitchen Staff1,610 EUR-77%
Kitchen Supervisor2,390 EUR-66%
Line Cook2,530 EUR-64%
Luggage Porter1,350 EUR-81%
Molecular Gastronomist3,720 EUR-48%
Motel Manager4,410 EUR-38%
Pastry Chef2,350 EUR-67%
Pastrycooking and Baking Assistant1,620 EUR-77%
Personal Chef3,410 EUR-52%
Production Operator2,400 EUR-66%
Quality, Health and Safety Coordinator2,510 EUR-65%
Receptionist1,810 EUR-74%
Regional Restaurant Manager5,980 EUR-16%
Restaurant Manager4,850 EUR-32%
Restaurant Server1,620 EUR-77%
Room Reservations Manager5,010 EUR-29%
Room Service Manager4,970 EUR-30%
Sous Chef2,890 EUR-59%
Special Events Coordinator3,340 EUR-53%
Supervisor of Food Services3,540 EUR-50%
Sustainable Catering Coordinator3,170 EUR-55%
Sustainable Tourism Consultant3,630 EUR-49%
Tour Consultant3,660 EUR-48%
Tour Guide2,720 EUR-62%
Tour Manager3,530 EUR-50%
Travel Agent2,850 EUR-60%
Travel Consultant3,880 EUR-45%
Virtual / Augmented Reality Tourism Specialist3,160 EUR-55%
Waiter / Waitress1,490 EUR-79%
Wedding Planner4,290 EUR-40%

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 for the job title Hotel Manager in Monaco?

A good and competitive compensation would range anywhere between 6,780 EUR and 7,810 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 a careers like Hotel Manager in Monaco ranges from 3,260 EUR to 5,460 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


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison Arabic French

©Salary Explorer 2024