Lifetime earnings of over one million euros
Many would like to have an account balance of one million euros. The experts at the GEHALT.de career portal asked themselves whether it is possible to earn or save so much in one working life.
As part of the implementation, the analysts of the career portal examined 740,984 data sets of average gross salaries of various specialists and executives. The evaluation showed that employees in all sectors earn an average of 2.36 million euros over the course of their working lives; Employees, on the other hand, only achieve a total of 1.67 million euros. The income of women aged 35 and over is often almost stagnant. Managers, on the other hand, earn around 3.87 million euros – regardless of gender. Skilled workers have the lowest income with 1.91 million euros.
Academic versus non-academic career
As was also pointed out by GEHALT.de, university graduates achieve higher annual salaries than employees who have not completed an academic career. University graduates between the ages of 24 and 30 earn a median of around 45,000 euros a year, while non-graduates earn 30,500 euros a year. However, time plays an important role here, since skilled workers without a university degree start work earlier and thus have a certain time advantage. However, graduates can catch up or overtake them at around the age of 35, since their average total income from this point in time is around 593,000 euros, when non-graduates have earned an average of 593,000 euros up to that point.
Master’s graduates and managers in logistics make the running
With regard to the university degree, the salaries also differ between bachelor’s and master’s graduates. Bachelor’s graduates can expect an average starting salary of around EUR 40,500, while Master’s graduates start at an average of EUR 48,400 per year. Extrapolated to the lifetime income, the comparison between bachelor’s and master’s graduates also shows a clear difference. Master’s graduates earn an average of 300,000 euros more over the course of their lives than bachelor’s graduates.
However, an attractive salary can be achieved even without a university degree. Management level employees in logistics or key accountant management earn an average lifetime income of 3.9 or 3.1 million euros. Educators, on the other hand, only earn half that, at 1.6 million euros.
A master’s degree pays off particularly in the banking sector: while bachelor’s graduates earn 2.6 million euros in their lifetime here, master’s graduates earn 3.14 million euros.
That is to be noted
All salary information was analyzed and given as gross values. In addition, there are taxes that are deducted from salaries and general living expenses. If both taxes and expenses for food, housing, clothing as well as cultural needs and vacations are deducted, reaching a bank balance of one million euros becomes quite difficult.
Editorial office finanzen.net
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