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May 22, 2019

Average and Minimum Salary in Madrid, Spain

The average and minimum salary in Madrid will help travelers and expats to understand the economic reality of the Spain’s largest city

Check the data for the average and minimum wages in Madrid, the largest and wealthiest city in the Iberian Peninsula.

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Madrid, Spain. Photo by Rodrigo Paredes

Madrid is a cosmopolitan city with a perfect mix of old world tradition and modern luxury. As the capital of Spain, it has much to offer in the way of culture, food, nightlife, and sightseeing. Madrid is much more than a great tourist destination. It offers locals and expatriates diversified career and entertainment opportunities.

Madrid has a relatively low cost of living compared to many other cities in Europe. Costs in Madrid are lower when compared to Paris, London, or even Dublin. However salaries and job prospects are also not as attractive as these capitals. But that doesn’t make it an undesirable place to live for many who are looking for a better quality of life over making the big bucks.

Madrid is a desirable region of Spain, for locals and expatriates alike, because of its warm climate and rich cultural heritage.

Minimum Salary in Madrid, Spain

The minimum salary in Spain is of 736 euros per month in 2018, according to this source. but that doesn’t mean it is enough to live on in certain areas.

In Madrid, one of the better paid cities in Spain, minimum salaries range from 20,000 to 37,000 euros a year. That’s a big range. These figures are for the local population. For expatriates, it could be very different depending on your job or whether or not you are self-employed.

There are many foreign workers earning the minimum salary in Madrid, Spain.

Average Salary in Madrid, Spain

While the minimum wage is showing a constant year to year growth in Madrid, average salaries remain the same for the past years. Currently the average salary in Madrid is of around 1600 euros per month. In Madrid salaries usually range from 1000 and 3500 euros a month. As you can see, it varies widely depending on your occupation and level of expertise.

People working in executive and management position make the most. Madrid is the financial and business capital of Spain, so this not only creates better jobs, but results in higher salaries. Just keep in mind that the cost of living is also higher than in smaller cities or rural areas.

Madrid Economic Outlook

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Madrid, Spain. Photo by jacinta lluch valero

It is predicted that Madrid’s economy will grow in 2018 and 2019, but showing a rather humble growth. Creating not just more jobs, but better ones, continues to be a struggle in Madrid and other areas of Spain as well.

It is not expected that the average cost of living will go down. It is predicted to be stable for the next two years.

Interesting Resources for Working and Living Abroad

Are you really considering to work and live abroad, temporarily or permanently? Below are some resources that might be useful for you around the web:

CheapOair: this is one of my favorite websites for buying airline tickets for flights for any destination in the world. One of the best advantages of CheapOair is that they accept not only the usual credit card payments but also PayPal.

Booking.com: Booking.com is the best choice for finding accommodation for your next trip, with a wide variety of choices for all types of travelers.

You may also want to check our website guides:

Train Travel Guide: in our railway travel guide, you will learn how to choose and ride the most scenic train routes around the world, always in the most comfortable way with optimal prices to enhance your travel experience.

Dating Guide: our dating guide will help you not only to find love but to understand the social customs of each country. It will also help you to avoid dating scams around the internet and find people really interested in honest relationships.

Work Abroad Guide: Learn how to find a job and employment requirements in different countries. From the initial job search, to bargaining salaries, this guide will help you to find job in most countries around the world.  It also covers about remote work and TEFL jobs.