Jobs and Salaries In Prague and Major Czech Cities By Industry and Roles In 2022 – Part 2
Are you thinking about moving to the Czech Republic to start a new life? Find out about the employment market in the country, whether Prague or Brno fits you best, what industries are booming and the salary levels that go along with each sector, in the second of our series of three articles. Photo Credit: Prague, KB / Brno Daily
Salaries In Q4 of 2021 Increased By 4% Compared To The Same Period of 2020
In the first instalment of our series of articles about working in the Czech Republic, the salary guide showed the attractiveness of the Czech employment market for foreigners. Now we will focus more on the actual numbers when it comes to wages, to further help you decide whether moving to the Czech Republic is a good move for you.
According to the Czech Statistical Office, in Q4 2021, the average gross monthly nominal wage in the Czech Republic for a full-time equivalent employee was CZK 40,135/EUR 1,626, 4% higher than the corresponding period of 2020.
The real estate sector saw the highest rise in average gross monthly wages, rising by 14.2% to CZK 34,867 (EUR 1,412) in the fourth quarter of 2021 compared to the same period of 2020, followed by accomodation and food service activities, where the average wage rose 9.7%, to CZK 22,410 (EUR 901).
Administrative and support service activities are also becoming more attractive, with an increase of 8.5% in average gross monthly wage, to CZK 27,270 (EUR 1,097). However, this sector saw a 5.2% decrease in the registered number of employees, while the rate of employment in the real estate sector increased by 5% compared to Q4 2020.
However, although wage rises are good news, it’s important to bear in mind that consumer prices increased by 6.1% in Q4 2021, meaning a real-terms fall in wages of 2%. In the whole year 2021, inflation reached 3.8% and the nominal wage growth was 6.1%.
Average gross wages and salaries:
y-o-y increase/decrease in %, Q4 2021
Gross wages: CZK 40,135 / EUR 1,635
Source: CSO, 07 March 2022
Prague or Brno? Brno Is Cheaper, With Lower Rents, While Ostrava is Gaining Popularity With Businesses
After making the decision to move to the Czech Republic, you have to consider which city to settle in: should you move to Prague, the capital and biggest city with over 1.3 million inhabitants and the majority (53%) of Czech company headquarters, or Brno, with a population of 379,000, yet bursting with opportunities and increasingly becoming a hub for expats.
Aside from hosting 24% Czech company headquarters, Brno has additional benefits, with consumer prices 7% lower than in Prague (excluding rents) and rent prices 21.3% lower (Numbeo.com, March 2022). Ostrava has recently started increasing in popularity, with 10% of companies, and we have therefore included it in our salary comparison in the next and final article.
Prague is the economic centre of the country, closely followed in terms of business investment by Brno and then Ostrava. In the near future, Olomouc, Pilsen and České Budějovice will also become promising business markets. Photo Credit: Brno, SM / Brno Daily
Selected top 10 business centres in Prague and Brno
Source: ABSL 2021
Quality of Life Comparisons between Prague and Brno
Source: numbeo.com, March 2022
Check out our previous article for a full overview of the economic situation in the Czech Republic, and keep a look out for the next article in the series. Follow us on social media to get fresh updates from Jobspin.