Labor Market

Excellent ratio between labor quality, cost and productivity is particularly appealing to foreign investors seeking to achieve higher profitability through cost effectiveness, while not compromising their quality standards. In addition to the existing skilled and semiskilled labor pool in the manufacturing sector, the region of Vojvodina is characterized by the constant influx of newly qualified workers. Moreover, the income growth rate does not exceed the inflation rate and is much lower than the growth of income rate in e.g. Slovakia, Romania, and Bulgaria.

Labor Cost StructureAverage salary in Vojvodina, June 2016

(%)EUR
NET Salary380.87
Personal Income Tax1040.21
Contributions (employee)19.9104.61
GROSS Salary526.69
Contributions (employer)17.994.10
TOTAL Cost:619.79

Monthly Wages by Country

CEE CountriesMinimum wage bruto
wage bruto
(EUR)2017
Average monthly
bruto wage
EUR (2017)
Serbia253550
Romania318.5706
Hungary412.7939
Czech Republic419.91, 121
Slovakia435960
Croatia4421, 020
Poland473.31,020
Slovenia8051,625

From July 1st, 2014 the employers have the right for refund on the paid personal income tax & social insurance contributions.

  • 65% refund for employing 1-9 workers
  • 70% refund for employing 10-99 workers
  • 75% refund for employing 100 + workers

*until December 31, 2019