Austria: What 2024 will bring for salaries

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The public sector and the metalworkers will be scratching at the 10 percent mark. Pensioners are also in this range. In the retail sector, salary increases are still being debated. According to WIFO, inflation could fall to 3.2 percent in 2024.

This is how salaries will look in 2024
Salaries in the public sector will rise by 9.15 percent on January 1, at least by 192 euros. For the lowest salaries, this means an increase of 9.71 percent. Bonuses and allowances will also be increased by 9.15 percent. Directly affected are 227,799 people (federal employees and state teachers); indirectly affected are the 317,273 state and municipal employees expected to adopt the federal agreement.

Increase in wages and salaries for metalworkers
Employees in the metalworking industry can expect an average gross increase in wages and salaries of 8.6 percent. Lower earners will receive a ten percent increase due to a staggered increase. The agreement is valid for two years, with one percent added to rolling inflation in the second year. The increase of 10 percent applies to a gross income of just under 4,200 euros, after which it decreases. At just under 8,000 euros, the gross increase is 5.5 percent.

Pensions to rise by 9.7 percent in 2024
Pensions will rise by 9.7 percent next year. Only luxury pensioners with salaries of 5,850 euros or more will have to make do with a fixed amount of 568 euros per month. The wish of the senior citizens’ representatives to prevent an impending loss of value for the next pension cohort with a protective clause has also been fulfilled.

  • source: APA/picture:
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