Growing up, it was often said that one should never ask a man about his salary or a woman about her age. Today, we’re breaking that tradition and diving into the realities of working in Germany as a student. In this post, I’ll share insights on how much I earn, my expenses, savings, and tax deductions—all backed by actual numbers.
My Background
Currently, I’m pursuing my master’s degree in Germany while working as a student in the IT field. It’s essential to note that salaries for working students are calculated on an hourly basis rather than a full-time salary. I earn €18 per hour for my work.
Salary Breakdown
Let’s take a look at my recent salary slip to get a clearer picture.
| Description | Amount (€) |
|---|---|
| Total Gross Income | 1,560 |
| Income Tax | 40 |
| Pension Insurance | 130 |
| Total Deductions | 170 |
| Net Income | 1,390 |
Note: This net income reflects what is deposited into my bank account after deductions.
Understanding the Deductions
- Income Tax: My income tax stands at around €40.
- Pension Insurance: This is mandatory and typically amounts to about 10% of earnings. In my case, that’s approximately €130.
These deductions lead to a net income of about €1,390 each month. Keep in mind, this is not a full-time salary but a part-time income, which I believe is quite reasonable given the circumstances.
Monthly Expenses
To understand how much I can save, it’s crucial to look at my monthly expenses.
Major Expenses
- Rent:
I live in a studio apartment which costs €390 per month. This is quite reasonable for a single person and includes basic amenities. - Radio Tax:
A monthly fee of €18 is mandatory for broadcasting services. - Groceries:
I typically spend around €60 weekly on groceries, including fruits, milk, and other essentials. - Health Insurance:
This is a mandatory expense for students. I pay €120 per month for public health insurance. - University Fees:
While I only pay €300 every six months, averaging this out means an additional €50 per month. - Public Transport:
My student ticket allows unlimited travel for about €150 per semester. - Miscellaneous:
Costs like toiletries and laundry add up to about €10-20 monthly.
Summary of Monthly Expenses
| Expense | Amount (€) |
|---|---|
| Rent | 390 |
| Radio Tax | 18 |
| Groceries | 240 (60 x 4) |
| Health Insurance | 120 |
| University Fees | 50 |
| Public Transport | 25 |
| Miscellaneous | 20 |
| Total Expenses | 853 |
Savings Analysis
After deducting my total monthly expenses from my net income, here’s how it looks:
Net Income: €1,390
Total Expenses: €853
Remaining Balance (Savings): €537
This means I can save approximately €537 each month, which is a decent amount for a student lifestyle in Germany.
Maximizing Earnings
If you’re wondering how to achieve a similar salary, there are two main options when you arrive in Germany:
- Part-time Jobs: Look for roles related to your field of study, as they tend to pay more—generally around €12-€18 per hour.
- Non-Field Jobs: These roles often pay less (around €12 per hour or less), making them less appealing.
Gaining Experience
It’s essential to consider that working in your field not only enhances your resume but often provides better pay. Students typically earn between €13 to €18 per hour, depending on their experience and job type.
Conclusion
Living and working as a student in Germany has its challenges, but with the right approach, it can be financially rewarding. By understanding your earnings and expenses, you can manage your finances effectively and even save for the future.