Labor Market

The excellent ratio between labor quality, cost and productivity are 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.

There are 143 registered secondary schools from 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 internationally recognized Faculty of Technical Sciences (28 undergraduate academic profiles, 33 master academic profiles).

Science and Technology Park in Novi Sad (currently under construction) 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 57, 200 enrolled students in 2017/2018 out of which 43,871 attend University of Novi Sad.

From all the applicants that speak foreign languages, most of them speak English and German, and some of them 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 in 2019

Source: Statistical Office of the Republic of Serbia

NET Salary440.75
Personal Income Tax1047.08
Contributions (employee)19.9121.20
GROSS Salary609.03
Contributions (employer)16.65101.40
TOTAL Cost:710.43

Monthly Wages by Country

CEE CountriesMinimum wage bruto
wage bruto
Average monthly
bruto wage
EUR (2019)
Czech Republic5251, 328

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, 2020