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Average Salary in Cyprus 2024

How much money does a person working in Cyprus make?


Average Monthly Salary
2,170 EUR
( 26,100 EUR yearly)

LOW
550
EUR
AVERAGE
2,170
EUR
HIGH
9,660
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 Cyprus typically earns around 2,170 EUR. Salaries range from 550 EUR (lowest average) to 9,660 EUR (highest average, actual maximum salary is higher).


Salary Variance

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



Pay Scale and Salaries in Cyprus

Median and salary distribution Cyprus monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
4,070 EUR or more
10% of people earn
3,180 to 4,070 EUR
20% of people earn
1,240 EUR or less
65% of people earn
1,240 to 3,180 EUR
Minimum Salary
550 EUR
Median
1,870 EUR
Maximum
9,660 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 Cyprus range from 550 EUR (starting salary) to 9,660 EUR (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.

  • Median Salary

    The median salary is 1,870 EUR, which means that 50% of the population in Cyprus earns less than that while the other half earns more. 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 and Salary Scale

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population in Cyprus earn less than 1,350 EUR while 75% of them earn more. Also from the diagram, 75% of the population earn less than 2,830 EUR while 25% earn more than that.

  • Pay Scale Structure

    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 into how salaries are actually distributed in Cyprus. Around 65% of all reported figures are in the range 1,240 EUR to 3,180 EUR. Approximately 20% fall under the 1,240 EUR cap. Ten percent of wages are from 3,180 EUR to 4,070 EUR. Only 5% of people grossed 4,070 EUR or more.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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Salary is primarily determined by the level of experience one possesses, with higher levels of experience resulting in higher wages.

In Cyprus, employees with two to five years of experience typically earn an average of 32% more than entry-level and junior workers in all industries and fields.

Individuals with more than five years of experience tend to earn an average of 36% more than those with less than five years of experience.

After ten years of work, salaries increase by 21%, with an additional 14% increase for those who have worked for over 15 years.

These figures should be used as rough estimates, as considering individual job titles can lead to more accurate assessments.


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.

The correlation between higher education and higher salary is widely acknowledged, but how much of an income increase can one expect from obtaining a degree?

We conducted a study in Cyprus comparing the salaries of professionals with different levels of college degrees who held similar positions in various industries.

Our results showed that individuals with a certificate or diploma earned an average of 17% more than those who only completed high school.

Those who obtained a Bachelor's Degree earned 24% more than their counterparts with a certificate or diploma.

Professionals with a Master's Degree earned 29% more than those with a Bachelor's Degree.

Finally, those who held a PhD earned an average of 23% more than those with a Master's Degree while performing the same job.


Is investing in a Master's degree or an MBA worth it? Is pursuing higher education worth the investment?

Earning a Master's degree or any post-graduate qualification in Cyprus is a substantial financial commitment, with tuition fees ranging from 10,900 EUR to 32,600 EUR and a duration of around two years. It's important to note that during this period, any salary increases are unlikely, assuming ongoing employment. Salary reviews are typically conducted after completing the program and obtaining the degree.

Many individuals pursue advanced education as a means of transitioning to higher-paying positions, and the statistics indicate that this is an effective strategy. On average, individuals who change jobs after earning a higher degree receive a salary increase of about 10% more than the typical annual raise.

Ultimately, deciding whether or not to pursue advanced education depends on a variety of factors, including the personal situation and experience. However, if one can afford the financial costs of obtaining a higher degree, the return on investment is likely to be worthwhile, with the ability to recoup the costs in approximately a year.



Salary and Compensation Comparison By Gender / Cyprus

Salary comparison by gender Cyprus 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 Cyprus, the average difference between the salary of male and female employees is 6% across all career fields.

Male
2,230 EUR
Female-6%
2,100 EUR
Percentage increase and decrease are relative to the previous value


Average Annual Salary Increment Percentage in Cyprus

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

Cyprus

Employees in Cyprus are likely to observe a salary increase of approximately 5% every 28 months.

Annual Salary Increment Rate Cyprus
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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 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 Cyprus 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 in Cyprus

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Cyprus
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68% of surveyed staff in Cyprus reported that they haven't received any bonuses or incentives in the previous year while 32% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.

Received Bonus
32%
No Bonus
68%

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.

Salaries for popular jobs. Salaries by occupations.

Job TitleAverage Salary
Accounting and Finance
Accountant1,530 EUR
Accounting Assistant1,150 EUR
Accounting Manager3,220 EUR
Bookkeeper950 EUR
Chartered Accountant1,910 EUR
Corporate Treasurer2,810 EUR
Financial Analyst2,660 EUR
Financial Manager4,400 EUR
Internal Auditor2,110 EUR

Administration / Reception / Secretarial
Administrative Assistant1,100 EUR
Office Manager1,870 EUR
Receptionist1,000 EUR
Secretary990 EUR

Advertising / Graphic Design / Events
Art Director2,120 EUR
Creative Director2,100 EUR
Graphic Designer1,310 EUR
Photographer1,170 EUR

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer2,780 EUR
Air Traffic Controller2,290 EUR
Flight Attendant1,400 EUR
Pilot3,790 EUR

Architecture
Architect2,470 EUR
CAD Drafter1,080 EUR

Automotive
Mechanic760 EUR
Service Advisor1,420 EUR

Banking
Bank Branch Manager3,770 EUR
Teller810 EUR

Bilingual
Teacher1,690 EUR
Translator1,910 EUR

Business Planning
Business Analyst2,620 EUR
Business Development Manager3,340 EUR
Project Manager2,690 EUR

Care Giving and Child Care
Nanny850 EUR
Nursery Teacher770 EUR

Construction / Building / Installation
Civil Engineer1,990 EUR
Construction Project Manager3,640 EUR
Health and Safety Officer950 EUR

Customer Service and Call Center
Call Center Representative820 EUR
Customer Service Manager2,960 EUR
Customer Service Representative790 EUR

Engineering
Civil Engineer1,930 EUR
Electrical Engineer1,980 EUR
Engineer1,930 EUR
Mechanical Engineer2,030 EUR

Executive and Management
Chief Executive Officer4,580 EUR
Chief Financial Officer4,350 EUR
General Manager3,830 EUR
Project Manager2,410 EUR

Food / Hospitality / Tourism / Catering
Chef1,320 EUR
Executive Chef1,540 EUR
Hotel Manager3,960 EUR
Receptionist830 EUR
Travel Agent1,410 EUR
Waiter / Waitress670 EUR

Health and Medical
Dentist5,040 EUR
Dietitian3,990 EUR
Laboratory Technician1,610 EUR
Nurse1,650 EUR

Human Resources
Human Resources Manager3,220 EUR
Human Resources Officer1,320 EUR

Information Technology
Computer Technician1,620 EUR
Database Administrator2,060 EUR
Developer / Programmer2,080 EUR
Information Technology Manager3,510 EUR
Network Engineer1,790 EUR

Law Enforcement / Security / Fire
Police Officer1,250 EUR

Legal
Attorney4,070 EUR
Legal Assistant1,160 EUR

Media / Broadcasting / Arts / Entertainment
Journalist2,390 EUR

Pharmaceutical and Biotechnology
Biomedical Engineer1,890 EUR
Pharmacist2,610 EUR

Sales Retail and Wholesale
Cashier810 EUR
Sales Manager3,660 EUR
Sales Representative1,320 EUR

Teaching / Education
Elementary School Teacher1,500 EUR
Secondary School Teacher1,660 EUR

Average Hourly Wage in Cyprus


13 EUR per hour

The average hourly wage (pay per hour) for all employees in Cyprus is 13 EUR.This is the rate that the average individual gets 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 a person in Cyprus is 3 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Larnaka1,910 EUR
Limassol2,260 EUR
Nicosia2,090 EUR

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 Cyprus is 18% on average across all career fields.

Private Sector
1,950 EUR
Public Sector+18%
2,300 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 Cyprus?

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 Cyprus would range anywhere between 1,870 EUR and 2,830 EUR.

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 in Cyprus ranges from 550 EUR to 1,350 EUR. 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 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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