A look at the professional sectors with the highest and lowest salaries

The average gross monthly earnings of employees in all economic activities in Cyprus increased by approximately 5% for the year 2024, estimated at €2,487 compared to €2,363 in 2023.

However, the discrepancies between what people are actually being paid are still huge, as in some sectors they reach close to €8,000 a month, mainly due to the lack of skilled and qualified workforce in these sectors, while in others they do not exceed €1,000.

Particularly dynamic are, among many others, sectors related to technology, financial and insurance activities, the information and communication sector, as well as head office activities.

The highest-paying professions

According to CySTAT data, the highest average monthly earnings for 2024 are in the mining support activities sector, even though these fell slightly to €7,494 compared to €7,854 in 2023.

This sector falls under the mining and quarrying sector, in which average earnings reached €3,314 compared to €3,336 in 2023. When it comes to the extraction of crude oil and natural gas, average earnings, although high, nevertheless decreased to €4,305 compared to €4,703 in 2023.

The highest earnings are also recorded in information services activities, which reach close to €5,000 (€4,959 compared to €4,863 in 2023) and in computer programming, consultancy and related activities (€4,550 compared to €4,212 in 2023), which fall under the information and communication sector (€4,211 compared to €3,899 in 2023). In publishing activities, average monthly earnings of €4,294 were recorded compared to €4,089 in 2023.

Significant earnings continue to be found in the financial and insurance sectors, reaching €4,695 in 2024 up from €4,493 in 2023 and recording an annual increase of 4.5%.

This sector includes financial services activities, except insurance activities and pension funds (€4,779 from €4,532), insurance, reinsurance and pension funds, except compulsory social security (€3,074 from €2,855), as well as activities related to financial services and insurance activities (€5,113 from €4,974).

Regarding the category under which professional, scientific and technical activities fall (€3,008 compared to €2,827 in 2023), high earnings are presented both in the field of advertising and market research (€4,087 compared to €3,203 in 2023) and in head office activities, management consulting activities (€3,558 compared to €3,502 in 2023).

In the government, average monthly earnings for 2024 increased to €3,431 compared to €3,320 in 2023, while earnings in sectors such as electricity, natural gas, steam and air conditioning supply (€3,558 compared to €3,392 in 2023), as well as in scientific research and development (€3,174 compared to €3,085 in 2023), have also increased.

Earnings also showed a small increase in key sectors of the economy, such as construction (€1,818 compared to €1,752 in 2023) and wholesale and retail trade, repair of motor vehicles and motorcycles (€1,785 compared to €1,699 in 2023).

The lowest-paid professions

The lowest earnings, just €951 in 2024 (compared to €924 in 2023), are recorded in the agriculture, hunting and forestry sector.

Specifically, in the sector of plant and animal production, hunting and related activities, average monthly earnings did not exceed €925 (compared to €901 in 2023), while in forestry and logging they amounted to €1,304 (compared to €1,178 in 2023). On the contrary, in fishing and aquaculture, earnings were in a better position compared to other relevant sectors, as they amounted to €1,896 compared to €1,757 in 2023.

Earnings in accommodation and food service activities also increased, reaching €1,585 compared to €1,496 in 2023.

(Source: InBusinessNews)