People from all over the world choose Cyprus for their holidays. But once the vacation time is over, many start considering relocating here for good. The island's gorgeous beaches, quaint villages, authentic cuisine and a laid-back lifestyle are an epitome of a «Mediterranean dream». But, what is it really like staying in Cyprus for the long-term? Living costs, jobs and wages are all hot topics amongst expats.
And, even though most of them are living in Cyprus with their income from abroad, some are relocating here for work. Let's take a look at Cyprus' job market and see what is the minimum salary in Cyprus and how it compares to the average and upper level salary figures. We’ll also tell you more about the most popular industries for foreigners working in Cyprus and how the island fares compared to the other countries. So, if you feel it’s time to start a career on this beautiful island, stay tuned!
Cyprus salaries
Minimum salary
First introduced in 2023, a national statutory minimum wage level in Cyprus is:
— 900 euro p/month for the first 6 months of employment.
— 1000 euro p/month after 6 months of employment.
The introduction of a minimum wage has been influenced by many factors, such as reducing the risk of poverty, minimising pay gap between employees of different industries as well as adhering to the EU labour protection laws.
The wage amount is set by decree of the Council of Ministers, instead of an employer, and is regularly adjusted, depending on economic situation. It applies to most industry sectors, with the exception for some.
The following employees are not covered by the country’s basic wage requirement:
- Domestic employees (housekeepers, carers, nannies) — wages start at around 460 euro p/month, plus accommodation provided by the employer.
- Agricultural & livestock employees — their wages have to be regulated by the collective agreements or individual contracts.
- Seafarers’ wages are set by the International Labour Organization (ILO) through the Maritime Labour. The current monthly minimum rate is around 700 USD.
- Hotel industry employees’ wages are defined by sector-specific decree and collective agreements. Their wages are slightly above the national minimum and vary according to each role.
All other employees are entitled to the national minimal wage.
Average salary
Currently, the average salary in Cyprus is around 2,500 euro p/month. At the same time, the median monthly salary is around 1,792 euro p/month.
However, this figure varies greatly, depending on the industry and employee’s gender. This year's salary for male employees is 2,689 euro p/month, whilst female employees get only 2,284 euro p/month, which reveals Cyprus’ gender pay gap. In addition, some sectors, such as IT, finance, energy, and legal remain on a higher spectrum, well exceeding the island’s median salary.
These high end industries boast monthly wages of 3,000—4,493 euros.
Above average salary
This category is limited to the specific industries and individuals with extensive experience, with monthly earnings exceeding 2,813 p/month, which translates to a median wage of 2,000 and above.
Your skills and experience level are particularly important for these kinds of jobs.
Just like in any other country in the world, sought after occupations offer much higher salaries. In Cyprus, the most lucrative roles are in specific areas of IT. For instance, cloud architects can expect to earn up to 130,000 euro p/a, followed by skilled medical professionals (doctors and surgeons) with a salary of more than 80,000 euro. Other sought after occupations in the country, such as engineering, tech, legal and finance roles can offer wages of around 25,000 euro to 60,000 p/a. Mid-level office professionals can earn anywhere from 20,000—45,000 euro p/a, whilst hospitality and retail staff have the lowest earnings in the country, ranging from 15,000 to 30,000 euro p/a.
Salaries by city
Limassol
Limassol is the country’s tech and financial centre, home to many international FinTech, trading and gaming businesses and startups. It's also one of the most expensive cities with the highest living costs in Cyprus and significantly higher wages. The minimum annual salaries in Limassol start at about 15,000 euro, whilst the average wages start at about 33,000, with higher end earnings of more than 50,000 euro.
Nicosia
Nicosia is the country’s capital with a well developed public/government sector and a strong focus on educational, legal and financial fields. The basic wage here starts at 13,000 euro p/a, going up to 23,000 for an average and 35,000 euro for above average wage.
Larnaca
Larnaca is a fast developing city, swiftly becoming a new tourist and real estate hub of Cyprus. It also has a thriving hospitality, academic and logistics industry.
The minimal annual salary is about 13,000, whilst mid-level and above average salaries are at 23,000 and 35,000 euro respectively.
Paphos
Paphos is the island’s tourist and hospitality hub. It is much quieter compared to other Cyprus cities — Limassol, Nicosia and even Larnaca. It's famous for its laid-back lifestyle and lower expenses. The salaries also reflect that — with minimum annual earnings of just 12,000 euro, mid-level and above average wages of 21,000 and 30,000 respectively.
Cyprus salaries vs living costs
The median monthly expenses in Cyprus can range anywhere from 850—1,100 euro, including accommodation. These figures indicate that a person with a basic wage can only live comfortably if they have access to cheap or free accommodation — either they own a property or share it with others. The median wage will provide a comfortable life without the extras or much spontaneous splurging. Whereas, an upper level salary will allow you to spend more on those «little luxuries in life» and to have savings.
Occupations in demand
The following professions are currently in demand in Cyprus:
- IT and Tech:
— Cybersecurity experts
— Cloud architects
— AI learning engineers
— Blockchain developers
— Web developers
- Finance:
— Accountants
— Financial Analysts
— Compliance officers
— Tax consultants
- Construction:
— Electricians
— HVAC technicians
- Transport:
— Professional truck, bus and delivery drivers
- Healthcare:
— Nurses
— Doctors & surgeons
- Hospitality:
— Hotel managers
— Chefs
— Consierges
- Marketing:
— Digital marketing professionals
— Sales managers
— PR managers
- Education:
— University academic staff and researchers
— Language teachers
Job hunting tips
- Register with the main local job hunting websites to save your time and to tap into the local job market.
- Fluent English is enough for most skilled employees applying for work for international companies, especially in the IT industry. Whilst other fields, such as healthcare, hospitality and transport will require some Greek knowledge as well.
- Learn basic Greek to increase your chances.
- Your native language, other than English, can also be an advantage, especially in Forex, sales and marketing fields, where they get many clients from third countries. So, make sure to include it in your CV.
- Some international companies offer a relocation package when it comes to hiring highly skilled in-demand professionals.
- Some occupations, especially in healthcare and accounting might require the candidate to have an accreditation from a local professional body that can take some time.
According to the latest data by country, the median annual salary in Cyprus ranks at 12th place in the EU, whilst for purchasing power the island stands at the 15th place. The island's minimal wage might not be the top one in Europe, but the living costs are also lower compared to some EU countries, making it a country with a good work/life balance. With the island swiftly turning into a regional FinTech and IT hub, there are many exciting career opportunities to look out for. So, if your dream is to work on one of the world's sunniest and most beautiful islands, don't waste your time and start applying! Good luck! Or, «Καλή τύχη!» (Kalí týchi), as we say in Cyprus.
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