Malta is renowned for its high quality of life and this attracts thousands of expats to the island every year. However, to keep up with the standards of living, you need to earn a decent salary that allows you to make a comfortable living.
How does your salary compare to Malta’s average?
According to the Labour Force Survey, the first quarter of this year, 2018, the average annual basic salary in the Maltese Islands stood at €18,643. This excludes any additional income such as, bonuses extra hours and allowances.
The highest average annual salary in Malta is €34,291 and was found between managers in the Financial and Insurance Sectors. On the other hand, the national minimum salary in Malta stood at €8,970, earning a fixed wage of €747.5 per month.
Employment in Malta
When it comes to employment in Malta, in 2018 the nation experienced a 5.7% increase when compared to the previous year, 2017. In the first months of 2018, there was a total of 217,259 people employed and the majority of the population were 15 years old and older. On the other hand, it was recorded that there was 9,966 (2.5%) people unemployed and 172,092 currently inactive.
The activity rate for the same period was mainly from people aged between 25-54 years old and were estimated make up a total of 71.2% active people in the first quarter of 2018.
To get a clearer indication, 68 out of 100 people were employed. This statistic was based on persons between 15 and 64 years old. It was recorded that the male employment rate was higher than the females. The males’ stood at 79.1% whilst the women’s’ stood at 56.4%.
