Average gross wage hits Kč 29,346

The monthly wage was up more than 5 percent over last year

The average gross monthly nominal wage in the second quarter of 2017 for a full-time employee in the Czech Republic increased by 7.6 percent compared to the same period of the previous year. In real terms it grew by 5.3 percent, according to preliminary figures from the Czech Statistical Office (ČSÚ). But men continues to have higher wages than women.

The average gross monthly nominal wage for a full-time employee was Kč 29,346, which was Kč 2,074 or 7.6 percent more than in the second quarter of 2016. Consumer prices grew by 2.2 percent, meaning wages increased by 5.3 percent in real terms over the previous year.

Compared to the previous quarter, the seasonally adjusted average wage in Q2 2017 increased by 1.9 percent.

The median wage was Kč 24,896, and it increased by 8.2 percent compared to the same period of the previous year. The male median wage reached Kč 27,181 and the female one was Kč 22,300. Some 80 percent of employees earned wages between Kč 12,022 to Kč 47,058.

In the first half of 2017 the average wage reached Kč 28,623 and its was Kč 1,747 or 6.5 percent higher year-on-year. In the first half of 2017 consumer prices grew by 2.3 percent, meaning wages increased by 4.1 percent in real terms.

The average wage has been rising in the Czech Republic since the beginning of 2014. Until the end of 2016, inflation was below 1 percent, so wages grew rapidly in real terms.

The average gross monthly nominal wage is the share of wage funds, including overtime pay, bonuses and other payments for one employee per month. It does not indicate what wage a single concrete employee has. Roughly two-thirds of employees have an average wage below the national average.

The median wage is the value of an employee wage in the middle of the wage distribution. That means one half of the wages is lower and the second half of the wages is higher than the median wage.

From the gross wages, employers pay premiums for health insurance and social security, income tax and other deductions for their employees. The employees are paid net wages.

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