Average Salary In Israel
Before we delve into the average salaries in Israel, it’s essential to understand the country’s current economic state. Israel is a highly developed country with a diverse economy heavily reliant on technology and innovation. In recent years, the Israeli economy has experienced steady growth, with a GDP of $394.7 billion in 2020 and an unemployment rate of around 6% as of 2021.
Here are the average salaries in Israel:
• The average monthly wage in Israel in 2020 was ₪11,923 (around $3,438).
• IT professionals earn the highest average salaries in Israel, around ₪30,000-40,000 (around $8,600 – $11,500) monthly. It is one of the fastest-growing sectors in Israel’s economy.
• Engineers and scientists earn some of the highest salaries in Israel, around ₪25,000 – 35,000 (around $7,150 – $10,000) per month on average.
• Teachers earn average monthly salaries of around ₪14,000 – 20,000 (around $4,000 – $5,700).
• Nurses earn average monthly salaries of around ₪12,000 – 18,000 (around $3,430 – $5,140).
• Average salaries of doctors range from ₪23,000 – 90,000+ (around $6,600 – $25,700+) per month depending on specialty and experience.
• Police officers earn average monthly salaries of ₪14,000 – 20,000 (around $4,000 – $5,700).
As you can see, salaries in Israel tend to be higher for those working in technical and STEM fields, especially IT and engineering.
What is considered a good salary in Israel?
No single “good salary” in Israel applies to everyone. Salaries vary greatly depending on several factors, such as:
• Occupation: Salaries differ significantly between occupations and industries. High-skill jobs in tech, finance, and some professional sectors tend to command higher salaries.
• Experience: Salaries tend to increase with more years of work experience and seniority. Entry-level jobs pay less than mid-career and executive roles.
• Gender: Despite efforts to reduce the gap, women in Israel still earn less than men in similar roles, on average.
• Company/industry: Salaries vary between companies and initiatives based on compensation policies, skill demand, and other factors.
Some general salary ranges in Israel, reported in shekels per month:
• Entry-level jobs: 8,000 to 12,000 ILS
• Mid-career jobs: 12,000 to 25,000 ILS
• High-skill jobs: 25,000 to 50,000+ ILS
• Executives: 50,000 ILS and up
But again, these are extensive ranges. Many factors contribute to determining what constitutes a “good salary” for an individual or family in Israel. Things like the cost of living in your area, current salary levels in your occupation or industry, and your lifestyle needs all factor into whether or not you consider your salary “good.”
Factors Affecting Average Salaries in Israel
Several factors affect the average salary in Israel, including job type, education level, and work experience. Let’s take a closer look at each of these factors.
The type of job you have in Israel can have a significant impact on your salary. Some of the highest-paying jobs in Israel include software engineers, doctors, lawyers, and investment bankers. In contrast, some of the lowest-paying jobs include sales associates, customer service representatives, and administrative assistants.
In general, individuals with higher levels of education tend to earn higher salaries in Israel. For example, individuals with a bachelor’s degree in engineering or computer science can expect to earn significantly more than those with only a high school diploma. Additionally, those with advanced degrees, such as a master’s or Ph.D., can expect to earn even more.
Finally, work experience can also impact your salary in Israel. In general, individuals with more years of experience in their field can command higher wages than those who are just starting.
Average Salaries in Israel by Job Type
Now that we’ve explored the different factors that affect the average salary in Israel, let’s take a closer look at the wages of some of the most popular jobs in the country.
High-Paying Jobs in Israel
As previously mentioned, some of the highest-paying jobs in Israel include software engineers, doctors, lawyers, and investment bankers. Software engineers in Israel can expect to earn an average salary of around ₪240,000 per year, while doctors can earn an average wage of ₪420,000 per year. Lawyers and investment bankers can make even more, with average salaries of ₪500,000 and ₪1,000,000 yearly.
Low-Paying Jobs in Israel
On the other end of the spectrum, some of the lowest-paying jobs in Israel include sales associates, customer service representatives, and administrative assistants. Sales associates can expect to earn an average salary of around ₪60,000 annually. In contrast, customer service representatives and executive assistants can expect to earn an average wage of about ₪80,000 annually.
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What is the average salary in Israel?
The average salary in Israel varies depending on job type, education level, and work experience. However, the average overall salary in Israel is around ₪135,000 per year.
What is the minimum wage in Israel?
As of 2021, the minimum wage in Israel is ₪5,300 per month.
How does Israel’s economy compare to other countries?
Israel’s highly developed economy has experienced steady growth in recent years. Its GDP ranks 34th globally and is considered a high-income economy by the World Bank.
What are some of the highest-paying jobs in Israel?
Some of the highest-paying jobs in Israel include software engineers, doctors, lawyers, and investment bankers.
What are some of the lowest-paying jobs in Israel?
Some of the lowest-paying jobs in Israel include sales associates, customer service representatives, and administrative assistants.
In conclusion, the average salary in Israel is heavily influenced by job type, education level, and work experience. While some jobs, such as software engineering and investment banking, offer high salaries, others, such as customer service and administrative support, provide lower salaries. It’s essential to consider these factors when seeking employment in Israel.