Labor Market

The excellent ratio between labor quality, cost, and productivity is particularly appealing to foreign investors seeking 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.

There are 143 registered secondary schools of which 121 are state-owned and 22 private. Teaching is conducted in Serbian, Hungarian, Ruthenian, Slovakian, Romanian, and Croatian.

Vojvodina represents a specific hub for University education – 3 Universities (1 state – 14 Faculties, 2 private – 9 Faculties) with an internationally recognized Faculty of Technical Sciences (28 undergraduate academic profiles, 33 master academic profiles).

Science and Technology Park in Novi Sad aims to enable researchers in research institutes to convert the results of their research into products, services, processes, or software that will find their place in the market.

Vojvodina boasts 52,874 enrolled students in 2021/2022.

Of all the applicants that speak foreign languages, most of them speak English and German, as well as Russian, French, Spanish, and Italian.

Access to an exceptional talent pool with multicultural diversity offers flexibility and adaptability for maintaining unrivaled performance levels.

Labor Cost StructureAverage salary in Vojvodina, 2022

Source: Statistical Office of the Republic of Serbia

(%) EUR
NET Salary 606,26
Personal Income Tax 10 67,72
Contributions (employee) 19.9 167,44
GROSS Salary 841,42
Contributions (employer) 15.15 135,89
TOTAL Cost: 977,3

Monthly Wages by Country

CEE Countries Minimum wage bruto
wage bruto
(EUR) 2022
Average monthly
bruto wage
(EUR) 2022
Serbia 402 880
Romania 516 1,249
Hungary 504 1,318
Czech Republic 655 1,643
Slovakia 646 1,304
Croatia 622 1,580
Poland 642 1,354
Slovenia 1,024 1,970

Source: Eurostat

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, 2023