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Average Salary in Serbia 2020

How much money does a person working in Serbia make?


Average Monthly Salary
207,000 RSD
( 2,480,000 RSD yearly)

LOW
28,000
RSD
AVERAGE
207,000
RSD
HIGH
915,000
RSD

A person working in Serbia typically earns around 207,000 RSD per month. Salaries range from 28,000 RSD (lowest average) to 915,000 RSD (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Distribution of Salaries in Serbia

Median and salary distribution monthly Serbia
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The median, the maximum, the minimum, and the range

  • Salary Range

    Salaries in Serbia range from 28,000 RSD per month (minimum salary) to 915,000 RSD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 202,000 RSD per month, which means that half (50%) of the population are earning less than 202,000 RSD while the other half are earning more than 202,000 RSD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 104,000 RSD while 75% of them are earning more than 104,000 RSD. Also from the diagram, 75% of the population are earning less than 547,000 RSD while 25% are earning more than 547,000 RSD.


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

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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

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 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.


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.

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.

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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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 degrees levels across many jobs, below are our findings.


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.

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 cerificate 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 Serbia costs anywhere from 1,030,000 Serbian Dinar(s) to 3,100,000 Serbian Dinar(s) 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 into 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 your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.



Salary Comparison By Gender

Salary comparison by gender monthly Serbia
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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? Male employees in Serbia earn 8% more than their female counterparts.

Female
199,000 RSD
Male+8%
215,000 RSD
Percentage increase and decrease are relative to the previous value

Average Annual Salary Increment Percentage in Serbia

How much are annual salary increments in Serbia? How often do employees get salary raises?

Serbia

Employees in Serbia are likely to observe a salary increase of approximately 7% every 20 months.

Annual Salary Increment Rate Serbia
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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.

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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 Serbia is 4%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Serbia for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Average Salary Increase Rate by Experience Level

Junoir Level
3% - 5%
Mid-Career
6% - 9%
Senior Level
10% - 15%
Top Management
15% - 20%

The difference in increment rates is somehow justified because employers put more effort to retain more experienced staff since they are harder to acquire than less experienced ones.

Worldwide Salary Raises: All Countries and All Jobs

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Bonus and Incentive Rates in Serbia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Serbia
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52% of surveyed staff in Serbia reported that they haven't received any bonuses or incentives in the previous year while 48% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
48%
No Bonus
52%

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.


Bonus Rates Comparison by Career Field

Finance
High
Architecture
High
Sales
High
Business Development
High
Marketing / Advertising
High
Information Technology
Moderate
Healthcare
Moderate
Insurance
Moderate
Customer Service
Moderate
Human Resources
Moderate
Construction
Low
Transport
Low
Hospitality
Low

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Serbia
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Where can you get paid more, working for a private company or for the government? Public sector employees in Serbia earn 14% more than their private sector counterparts.

Private Sector
194,000 RSD
Public Sector+14%
221,000 RSD
Percentage increase and decrease are relative to the previous value

Salary Trend and Forecast in Serbia

How are Serbia salaries changing over time? The chart below shows the average salary change in the past few years.

Salary trends and forecast monthly Serbia
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Average Salary 2016
185,000 RSD
Average Salary 2017+4%
192,000 RSD
Average Salary 2018+2%
196,000 RSD
Average Salary 2019+3%
203,000 RSD
Percentage increase and decrease are relative to the previous value

Salaries in Serbia are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant127,000 RSD
Accounting Assistant121,000 RSD
Accounting Manager267,000 RSD
Bookkeeper105,000 RSD
Chartered Accountant165,000 RSD
Corporate Treasurer357,000 RSD
Financial Analyst194,000 RSD
Financial Manager390,000 RSD
Internal Auditor207,000 RSD

Administration / Reception / Secretarial
Administrative Assistant98,100 RSD
Office Manager130,000 RSD
Receptionist147,000 RSD
Secretary109,000 RSD

Advertising / Grapic Design / Events
Art Director182,000 RSD
Creative Director199,000 RSD
Graphic Designer130,000 RSD
Photographer126,000 RSD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer215,000 RSD
Air Traffic Controller199,000 RSD
Flight Attendant172,000 RSD
Pilot229,000 RSD

Architecture
Architect184,000 RSD
CAD Drafter149,000 RSD

Automotive
Mechanic101,000 RSD
Service Advisor149,000 RSD

Banking
Bank Branch Manager274,000 RSD
Teller127,000 RSD

Bilingual
Teacher147,000 RSD
Translator165,000 RSD

Business Planning
Business Analyst239,000 RSD
Business Development Manager294,000 RSD
Project Manager212,000 RSD

Care Giving and Child Care
Nanny124,000 RSD
Nursery Teacher137,000 RSD

Construction / Building / Installation
Civil Engineer168,000 RSD
Construction Project Manager235,000 RSD
Health and Safety Officer121,000 RSD

Customer Service and Call Center
Call Center Representative129,000 RSD
Customer Service Manager257,000 RSD
Customer Service Representative136,000 RSD

Engineering
Electrical Engineer197,000 RSD
Engineer179,000 RSD
Mechanical Engineer193,000 RSD

Executive and Management
Chief Executive Officer433,000 RSD
Chief Financial Officer385,000 RSD
General Manager342,000 RSD

Food / Hospitality / Tourism / Catering
Chef162,000 RSD
Executive Chef172,000 RSD
Hotel Manager292,000 RSD
Travel Agent164,000 RSD
Waiter / Waitress121,000 RSD

Health and Medical
Dentist455,000 RSD
Dietitian449,000 RSD
Laboratory Technician149,000 RSD
Nurse153,000 RSD

Human Resources
Human Resources Manager266,000 RSD
Human Resources Officer153,000 RSD

Information Technology
Computer Technician150,000 RSD
Database Administrator185,000 RSD
Developer / Programmer165,000 RSD
Information Technology Manager292,000 RSD
Network Engineer166,000 RSD

Law Enforcement / Security / Fire
Police Officer157,000 RSD

Legal
Attorney269,000 RSD
Legal Assistant132,000 RSD

Media / Broadcasting / Arts / Entertainment
Journalist182,000 RSD

Pharmaceutical and Biotechnology
Biomedical Engineer162,000 RSD
Pharmacist219,000 RSD

Sales Retail and Wholesale
Cashier106,000 RSD
Sales Manager314,000 RSD
Sales Representative130,000 RSD

Teaching / Education
Elementary School Teacher129,000 RSD
Secondary School Teacher166,000 RSD

Average Hourly Wage in Serbia


1,190 RSD per hour

The average hourly wage (pay per hour) in Serbia is 1,190 RSD. This means that the average person in Serbia earns approximately 1,190 RSD for every worked hour.


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

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 fix 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.

Salary Comparison By City

CityAverage Salary
Belgrade225,000 RSD
Novi Sad215,000 RSD
141269 - 189

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