Czech Average Wage Reaches a Historic High of CZK 31,885
In 2018, the average wage reached CZK 31,885 (around EUR 1.244, USD 1.395). Eighty percent of Czech employees received wages between CZK 14.475 and CZK 54,320 last year.
Czech. Rep., Mar 8 (JS) – Reported by the Czech Statistical Office (CZSO), the fourth quarter of 2018 showed that the average gross monthly nominal wage of a full-time employee was CZK 33,840. This is higher by CZK 2,179 in comparison to the fourth quarter of 2017, by 6.9%. However, the fourth quarter is usually better for employees in terms of wages, as the end of the year signifies the collection of the yearly bonus or benefits.
The fourth quarter of 2018 also showed a rise in consumer prices, with an increase by 2.1% – indicating that there was an increase of 4.7% in real terms. The overall wage volume grew by 7.9%, while the number of employees in the Czech economy escalated by almost 1%.
Compared to the previous quarter, the seasonally adjusted average wage in Q4 2018 increased by 1.5%.
The median wage – which is a better indicator than average salary, as it shows what people are most likely receive in terms of compensation – was CZK 29,247. This shows a growth of 7.1%, compared to the same quarter of the year 2017. The male median wage reached CZK 31,910, while the female median wage was CZK 26,490.
All in all, the average wage of the year 2018 reached CZK 31,885 and its increment was CZK 2,390 (8.1%), compared year-on-year. Consumer prices grew by 2.1% and thus wages increased by 5.9% in real terms.