A person working in Novi Sad typically earns around 146,000 RSD per month. Salaries range from 36,900 RSD (lowest average) to 651,000 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.
Salaries in Novi Sad range from 36,900 RSD per month (starting salary) to 651,000 RSD per month (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
The median salary is 131,000 RSD per month, which means that half (50%) of the population are earning less than 131,000 RSD while the other half are earning more than 131,000 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.
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 94,500 RSD while 75% of them are earning more than 94,500 RSD. Also from the diagram, 75% of the population are earning less than 198,000 RSD while 25% are earning more than 198,000 RSD.
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 86,900 RSD to 223,000 RSD. Approximatly 20% fall under the 86,900 RSD cap. Ten percent of wages are from 223,000 RSD to 286,000 RSD. Only 5% of people grossed 286,000 RSD or more.
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.
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.
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.
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.
A Master's degree program or any post-graduate program in Serbia costs anywhere from 701,000 Serbian Dinar(s) to 2,100,000 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.
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 6% more than their female counterparts on avergae across all sectors.
Employees in Serbia are likely to observe a salary increase of approximately 7% every 20 months.
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.
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
Listed above are the average annual increase rates for each industry in Serbia for the year 2022. 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.
3% - 5%
6% - 9%
10% - 15%
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.
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.
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.
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.
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.
|Marketing / Advertising|
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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 Salary 2019|
|Average Salary 2020||+2%|
|Average Salary 2021||+3%|
|Average Salary 2022||+2%|
Salaries in Serbia are on the rise in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 2% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
|Job Title||Average Salary|
|Accounting and Finance|
|Accounting Assistant||73,000 RSD|
|Accounting Manager||217,000 RSD|
|Chartered Accountant||122,000 RSD|
|Corporate Treasurer||186,000 RSD|
|Financial Analyst||186,000 RSD|
|Financial Manager||288,000 RSD|
|Internal Auditor||132,000 RSD|
Administration / Reception / Secretarial
|Administrative Assistant||76,600 RSD|
|Office Manager||126,000 RSD|
Advertising / Grapic Design / Events
|Art Director||136,000 RSD|
|Creative Director||134,000 RSD|
|Graphic Designer||87,000 RSD|
Airlines / Aviation / Aerospace / Defense
|Aerospace Engineer||171,000 RSD|
|Air Traffic Controller||160,000 RSD|
|Flight Attendant||91,800 RSD|
|CAD Drafter||72,100 RSD|
|Service Advisor||94,100 RSD|
|Bank Branch Manager||251,000 RSD|
|Business Analyst||166,000 RSD|
|Business Development Manager||213,000 RSD|
|Project Manager||163,000 RSD|
Care Giving and Child Care
|Nursery Teacher||53,400 RSD|
Construction / Building / Installation
|Civil Engineer||122,000 RSD|
|Construction Project Manager||237,000 RSD|
|Health and Safety Officer||63,600 RSD|
Customer Service and Call Center
|Call Center Representative||50,300 RSD|
|Customer Service Manager||192,000 RSD|
|Customer Service Representative||52,400 RSD|
|Electrical Engineer||137,000 RSD|
|Mechanical Engineer||137,000 RSD|
Executive and Management
|Chief Executive Officer||317,000 RSD|
|Chief Financial Officer||276,000 RSD|
|General Manager||248,000 RSD|
Food / Hospitality / Tourism / Catering
|Executive Chef||98,600 RSD|
|Hotel Manager||244,000 RSD|
|Travel Agent||87,700 RSD|
|Waiter / Waitress||43,100 RSD|
Health and Medical
|Laboratory Technician||109,000 RSD|
|Human Resources Manager||217,000 RSD|
|Human Resources Officer||81,500 RSD|
|Computer Technician||103,000 RSD|
|Database Administrator||144,000 RSD|
|Developer / Programmer||140,000 RSD|
|Information Technology Manager||236,000 RSD|
|Network Engineer||124,000 RSD|
Law Enforcement / Security / Fire
|Police Officer||82,800 RSD|
|Legal Assistant||75,400 RSD|
Media / Broadcasting / Arts / Entertainment
Pharmaceutical and Biotechnology
|Biomedical Engineer||124,000 RSD|
Sales Retail and Wholesale
|Sales Manager||233,000 RSD|
|Sales Representative||86,400 RSD|
Teaching / Education
|Elementary School Teacher||92,200 RSD|
|Secondary School Teacher||109,000 RSD|
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.
This minimum pay rate per hour for a person in Novi Sad is 210 RSD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
|Novi Sad||146,000 RSD|
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 on average across all sectors.
It is extremely difficult to give an exact figure of a good salary when no specific job is selected, however; an estimate can be provided based purely on the cost of living. A good compensation in Novi Sad would range anywhere between 131,000 RSD and 198,000 RSD.
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 salart after tax for every career.
The base salary in Novi Sad is ranges from 94,500 RSD to 198,000 RSD. The base salary depends on many factors including profession, experience, and education. It is not easy to provide a figure with very little information, so take this range in a grain of salt.
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
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