A person working as a Professor - Economics in Czech Republic typically earns around 94,800 CZK per month. Salaries range from 43,600 CZK (lowest) to 151,000 CZK (highest).
This is the average monthly salary including housing, transport, and other benefits. Professor - Economics salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Professor - Economics salaries in Czech Republic range from 43,600 CZK per month (minimum salary) to 151,000 CZK per month (maximum salary).
The median salary is 102,000 CZK per month, which means that half (50%) of people working as Professor - Economics(s) are earning less than 102,000 CZK while the other half are earning more than 102,000 CZK. 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 Professor - Economics(s) are earning less than 65,700 CZK while 75% of them are earning more than 65,700 CZK. Also from the diagram, 75% of Professor - Economics(s) are earning less than 137,000 CZK while 25% are earning more than 137,000 CZK.
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
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Professor - Economics salaries by experience level and this is what we found.
A Professor - Economics with less than two years of experience makes approximately 49,500 CZK per month.
While someone with an experience level between two and five years is expected to earn 66,100 CZK per month, 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 97,700 CZK per month, 48% more than someone with two to five years of experience.
Additionally, Professor - Economics(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 119,000 CZK per month, 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 130,000 CZK per month, 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 141,000 CZK per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+48%|
|10 - 15 Years||+22%|
|15 - 20 Years||+9%|
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 Professor - Economics salaries by education level in order to make a comparison.
When the education level is Master's Degree, the average salary of a Professor - Economics is 57,500 CZK per month.
While someone with a PhD gets a salary of 111,000 CZK per month, 93% more than someone having a Master's Degree degree.
A Master's degree program or any post-graduate program in Czech Republic costs anywhere from 305,000 Czech Koruna(s) to 914,000 Czech Koruna(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 the thoery. 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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Professor - Economics employees in Czech Republic earn 8% more than their female counterparts on average.
Professor - Economics(s) in Czech Republic are likely to observe a salary increase of approximately 11% every 20 months. The national average annual increment for all professions combined is 8% granted to employees every 18 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 Czech Republic 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.
A Professor - Economics is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
41% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 59% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 2% to 7% 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.
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.
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.
The average salary for Professor - Economics is 47% more than that of Teaching / Education. Also, Teaching / Education salaries are 6% more than those of All Jobs.
|Job Title||Average Salary|
|Academic Advisor||66,100 CZK||-30%|
|Academic Coach||60,500 CZK||-36%|
|Academic Manager||71,700 CZK||-24%|
|Academic Specialist||57,300 CZK||-40%|
|Academic Staff||47,500 CZK||-50%|
|Achievement Coach||65,900 CZK||-30%|
|Admissions Specialist||54,800 CZK||-42%|
|Agricultural Sciences Teacher||49,400 CZK||-48%|
|Anthropology Teacher||50,000 CZK||-47%|
|Arabic Language Teacher||46,200 CZK||-51%|
|Archeology Teacher||52,200 CZK||-45%|
|Architecture Teacher||54,300 CZK||-43%|
|Art Teacher||44,200 CZK||-53%|
|Assistant School Principal||63,000 CZK||-34%|
|Assistant Teacher||41,600 CZK||-56%|
|Biochemistry Professor||88,000 CZK||-7%|
|Biology Teacher||52,100 CZK||-45%|
|Bursary Scheme Manager||58,100 CZK||-39%|
|Business Teacher||50,200 CZK||-47%|
|Chemistry Teacher||47,700 CZK||-50%|
|Child Care Coordinator||52,100 CZK||-45%|
|Child Care Worker||40,200 CZK||-58%|
|Clinical School Psychologist||72,800 CZK||-23%|
|College Aide||61,500 CZK||-35%|
|College and Career Readiness Specialist||69,000 CZK||-27%|
|College President||111,000 CZK||+17%|
|Communications Teacher||51,200 CZK||-46%|
|Community Education Officer||43,700 CZK||-54%|
|Computer Science Teacher||48,800 CZK||-49%|
|Computer Teacher||48,300 CZK||-49%|
|Creative Writing Trainer||58,300 CZK||-38%|
|Credit Counselor||60,600 CZK||-36%|
|Cultural Studies Teacher||47,300 CZK||-50%|
|Curriculum Developer||66,800 CZK||-30%|
|Curriculum Specialist||66,200 CZK||-30%|
|Deputy Controller of Examinations||57,700 CZK||-39%|
|Director of Learning Technology||68,800 CZK||-27%|
|Distance Learning Coordinator||57,600 CZK||-39%|
|Economics Lecturer||83,400 CZK||-12%|
|Education Administrator||58,900 CZK||-38%|
|Education Assistant Director||65,800 CZK||-31%|
|Education Assistant Principal||53,700 CZK||-43%|
|Education Assistant Professor||73,400 CZK||-23%|
|Education Consultant||68,700 CZK||-28%|
|Education Coordinator||55,300 CZK||-42%|
|Education Counselor||58,200 CZK||-39%|
|Education Director||84,200 CZK||-11%|
|Education Program Specialist||61,500 CZK||-35%|
|Education Researcher||73,500 CZK||-22%|
|Education Resource Specialist||53,500 CZK||-44%|
|Education Services Facilitator||59,800 CZK||-37%|
|Educational Psychologist||77,400 CZK||-18%|
|EFL Teacher||51,500 CZK||-46%|
|eLearning Trainer||47,600 CZK||-50%|
|Elementary School Teacher||42,600 CZK||-55%|
|Engineering Lecturer||85,600 CZK||-10%|
|Engineering Teacher||68,700 CZK||-28%|
|English Teacher||46,100 CZK||-51%|
|ESL Teacher||52,000 CZK||-45%|
|Faculty Assistant||64,900 CZK||-32%|
|Foreign Language Teacher||46,300 CZK||-51%|
|GED Teacher||42,900 CZK||-55%|
|Geography Teacher||46,300 CZK||-51%|
|Head of Mathematics Department||67,300 CZK||-29%|
|Head of School||84,200 CZK||-11%|
|High School Teacher||53,800 CZK||-43%|
|History Teacher||49,900 CZK||-47%|
|Infant Teacher||37,000 CZK||-61%|
|Instructional Assistant||52,700 CZK||-44%|
|Kindergarten Teacher||41,500 CZK||-56%|
|Language Instructor For Expatriate||42,700 CZK||-55%|
|Law Teacher||74,000 CZK||-22%|
|Learning Designer||60,300 CZK||-36%|
|Library Assistant||32,900 CZK||-65%|
|Library Director||56,200 CZK||-41%|
|Library Specialist||42,000 CZK||-56%|
|Life Sciences Teacher||48,500 CZK||-49%|
|Math Lecturer||88,500 CZK||-7%|
|Mathematics Teacher||55,700 CZK||-41%|
|Middle School Teacher||53,400 CZK||-44%|
|Music Teacher||45,200 CZK||-52%|
|Nursery Manager||73,200 CZK||-23%|
|Nursery Worker||32,100 CZK||-66%|
|Physical Education Specialist||56,000 CZK||-41%|
|Physical Education Teacher||43,200 CZK||-54%|
|Physics Teacher||51,200 CZK||-46%|
|Political Science Teacher||49,900 CZK||-47%|
|Post Doctoral Researcher||80,000 CZK||-16%|
|Preschool Education Administrator||54,200 CZK||-43%|
|Preschool Teacher||39,500 CZK||-58%|
|Primary School Teacher||42,800 CZK||-55%|
|Product Specialist||57,700 CZK||-39%|
|Professor - Accounting||89,300 CZK||-6%|
|Professor - Architecture||96,000 CZK||+1%|
|Professor - Biology||89,000 CZK||-6%|
|Professor - Business Administration||83,100 CZK||-12%|
|Professor - Chemical Engineering||96,400 CZK||+2%|
|Professor - Chemistry||90,900 CZK||-4%|
|Professor - Civil Engineering||89,200 CZK||-6%|
|Professor - Communication||84,700 CZK||-11%|
|Professor - Computer Science||94,300 CZK||-0%|
|Professor - Dentistry||94,200 CZK||-1%|
|Professor - Drama||83,000 CZK||-12%|
|Professor - Economics||94,800 CZK||+0%|
|Professor - Education||89,300 CZK||-6%|
|Professor - Electrical Engineering||98,400 CZK||+4%|
|Professor - English||85,400 CZK||-10%|
|Professor - Environmental Engineering||96,600 CZK||+2%|
|Professor - Foreign Languages||85,800 CZK||-9%|
|Professor - Geological Sciences||85,000 CZK||-10%|
|Professor - History||90,900 CZK||-4%|
|Professor - Industrial Engineering||86,300 CZK||-9%|
|Professor - Law||99,100 CZK||+5%|
|Professor - Legal Support||84,600 CZK||-11%|
|Professor - Liberal Arts||93,400 CZK||-1%|
|Professor - Marketing||89,600 CZK||-5%|
|Professor - Mathematics||97,800 CZK||+3%|
|Professor - Mechanical Engineering||91,400 CZK||-4%|
|Professor - Medical Administration||97,600 CZK||+3%|
|Professor - Medicine||105,000 CZK||+11%|
|Professor - Music||85,100 CZK||-10%|
|Professor - Nursing||83,700 CZK||-12%|
|Professor - Pharmaceutical Sciences||93,300 CZK||-2%|
|Professor - Philosophy||90,200 CZK||-5%|
|Professor - Physical Therapy||90,600 CZK||-4%|
|Professor - Physics||99,100 CZK||+5%|
|Professor - Psychology||86,100 CZK||-9%|
|Professor - Rehabilitation||85,000 CZK||-10%|
|Professor - Social Work||79,900 CZK||-16%|
|Professor - Sociology||92,400 CZK||-2%|
|Professor - Special Education||90,100 CZK||-5%|
|Psychology Teacher||70,900 CZK||-25%|
|Public Management Assistant Professor||73,600 CZK||-22%|
|School Counselor||70,700 CZK||-25%|
|Science Educator||49,900 CZK||-47%|
|Science Laboratory Assistant||45,300 CZK||-52%|
|Science Teacher||48,400 CZK||-49%|
|Secondary Mathematics Teacher||53,600 CZK||-43%|
|Secondary School Teacher||48,800 CZK||-49%|
|Special Education Teacher||52,800 CZK||-44%|
|Special Needs Assistant||43,300 CZK||-54%|
|Statistics Lecturer||88,500 CZK||-7%|
|Student Accounts Coordinator||47,100 CZK||-50%|
|Student Development Specialist||59,000 CZK||-38%|
|Student Employment Specialist||53,600 CZK||-43%|
|Student Services||44,000 CZK||-54%|
|Student Support Manager||59,700 CZK||-37%|
|Substitute Teacher||40,900 CZK||-57%|
|Teacher Aide||40,300 CZK||-57%|
|Teacher Trainer||60,200 CZK||-36%|
|Training and Development Specialist||64,100 CZK||-32%|
|Training Coordinator||42,800 CZK||-55%|
|University Teacher||89,300 CZK||-6%|
|Vocational Education Teacher||48,300 CZK||-49%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Czech Republic earn 7% more than their private sector counterparts on average across all sectors.