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This is how much startup geeks earn in Germany

The study, released this week by digital association Bitkom, shows that working for a tech startup rather than an established firm means compromising on earnings.

The average junior employee at a German startup can expect to earn around €31,000 annually before tax. If the techie rises through the ranks to the senior level though, they’ll find their salary clocking in at around €46,500 a year.

“Startups often earn nothing or very little, plus they have to invest a lot of money in their products. Therefore, there is less room for staff costs than at established firms,” said Bitkom business manager Niklas Veltkamp in a statement.

“On the other hand, at startups you have the chance to work on technological innovations and to contribute to the project from very early on. You gain work experience in a short time that simply wouldn’t be possible elsewhere.”

SEE ALSO: How the Berlin startup scene is wasting its potential

Veltkamp also pointed out that it is common practise at a startup for employees to be offered shares in the company, the income from which does not show up as earnings in the monthly pay cheque.

The study also found that those persistent enough to work their way up to the executive level would be earning a cool average of €71,400 a year.

“Whoever works for a startup can literally see it grow. That makes the work exciting – even for people who have long careers behind them,” said Veltkamp.

The graph below shows the annual pre-tax salary of tech start-up employees, according to startup founders.

Infografik: Das verdienen Start-up-Mitarbeiter | Statista
Mehr Statistiken finden Sie bei Statista

Article source: https://www.thelocal.de/20161021/this-is-how-much-startup-geeks-earn-in-germany