Average Prague wage surpassed CZK 40,000 last year

Published: 01.04.2019 Related countries:  Sweden Sweden

Prague had the highest gross wages in the Czech Republic. Average and median wages rose in the Czech Republic in 2018, with Prague at the top of the list.

The average gross monthly nominal wage Czech wage for a full-time equivalent employee in 2018 reached Kč 31,885, an increase of Kč 2,390 or 8.1 percent, compared year-on-year. In 2018 consumer prices grew by 2.1 percent, meaning wages increased by 5.9 percent in real terms, according to figures from the Czech Statistical Office (ČSÚ).

In Prague, the average wage in 2018 was Kč 40,011, up Kč 2,676 or 7.2 percent, compared to the previous year, or 5.1 percent in real terms. The lowest 2018 average wage was in the Karlovy Vary region, at Kč 28,003.

In the fourth quarter (Q4) 2018 the average wage in the Czech economy was Kč 33,840, which was Kč 2,179 or 6.9 percent more than in the same period of 2017. In Q4 2018 wages increased by 4.7 percent in real terms.

Compared to the previous quarter, the seasonally adjusted average wage in Q4 2018 in the Czech Republic increased by 1.5 percent.

In Prague, the average wage in Q4 2018 was Kč 41,851, up Kč 2,552 or 6.5 percent compared to the same time in the previous year.

Statistics on earnings show that roughly two-thirds of employees have an average wage below the national average.

The national median wage in Q4 2018 was Kč 29,247, and it increased by 7.1 percent compared to the same period of the previous year. The male median wage reached Kč 31,910 and the female one was Kč 26,490. Some 80 percent of employees earned wages between Kč 14,475 to Kč 54,320.

The median wage represents the value of an employee wage in the middle of the wage distribution. That means one-half of the wages is lower and the second half is higher than the median wage.

It is necessary to keep in mind the employers pay, from the gross wages, for premiums for health insurance and social security, income tax advances of natural persons, and other statutory deductions. The employees are paid net wages.

Prepared by the collective of workers of CzechTrade – Stockholm Office.
With using the source: Prague.TV, Raymond Johnston