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 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 52,895 enrolled students in 2019/2020 out of which 45,115 attend the University of Novi Sad.

From 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 in 2020

Source: Statistical Office of the Republic of Serbia

(%) EUR
NET Salary 486.69
Personal Income Tax 10 51.63
Contributions (employee) 19.9 133.74
GROSS Salary 672.06
Contributions (employer) 16.65 111.90
TOTAL Cost: 783.96

Monthly Wages by Country

CEE Countries Minimum wage bruto
wage bruto
(EUR)2020
Average monthly
bruto wage
EUR (2020)
Serbia 344 706
Romania 461 1,057
Hungary 452 1,149
Czech Republic 546 1,346
Slovakia 550 1,133
Croatia 537 1,223
Poland 583 1,163
Slovenia 941 1,856

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, 2021