A recent study conducted by Stepstone has revealed that 6% of employees in Germany earn a salary of at least €100,000. The study analyzed the incomes of 800,000 people from various industries and professions to determine the factors that contribute to a six-figure salary. The results showed that a large company, a university or college degree, management responsibilities, industry, and location are crucial factors in achieving a high income.
The study also found that there are significant differences in the likelihood of earning a six-figure salary between men and women. While 7% of men earn at least €100,000, only 2% of women do. Additionally, there are regional differences, with Hamburg and Hessen having the highest percentage of top earners at 8%, followed by Baden-Württemberg, Bayern, and Nordrhein-Westfalen at 7%, and Sachsen-Anhalt and the other new federal states at 2%.
The study also revealed that certain professions and industries have a higher likelihood of earning a six-figure salary. Management, lawyers, and finance experts have the highest percentage of employees earning at least €100,000, while the pharmaceutical, aerospace, chemical, and banking industries have the highest percentage of employees with a six-figure salary. Personal responsibility for managing employees also plays a significant role in earning a high income, with 12% of those in management positions earning at least €100,000 compared to only 2% of those without management responsibilities.
The size of the team managed also has a significant impact on salary, with those managing a team of more than 50 employees having a 19% chance of earning a six-figure salary, and those managing a team of over 100 employees having a 35% chance. Finally, the size of the company also plays a role, with those working in companies with more than 10,000 employees having a higher chance of earning a six-figure salary than those in smaller companies.
In conclusion, the study by Stepstone provides valuable insights into the factors that contribute to a high income in Germany. While there are significant differences between genders and regions, a university or college degree, management responsibilities, and working in certain industries and professions are key factors in achieving a six-figure salary.
