Everything You Should Know about Salaries and Living Standards in Serbia in 2024



When exploring job opportunities in a new country, one of the key factors to consider is the local salary situation and how it aligns with your expectations and financial needs. If you’re contemplating a move to Serbia, a small South European country with a transitional economy and a diverse labor market, understanding the current salary scenario is crucial.

Salaries and job markets across Serbia’s regions

As of now, the average gross monthly salary in Serbia for salaried positions is USD 1,961 (equivalent to USD 23,537 annually), while hourly jobs pay around USD 11.32 per hour. Admittedly, the salary range in Serbia varies, with the minimum salary at RSD 50,173 and the highest average reaching RSD 181,044. Naturally, in your particular situation, the salary you’ll get will depend on your experience, education, and the industry you work in.

The highest-paying industries in Serbia are concentrated in Information Technology (IT), finance, and telecommunications. These sectors not only offer competitive salaries but also attract expatriates with specialized skills and expertise. However, breaking into them may be challenging, demanding high qualifications and outstanding performance. Conversely, some of the lowest-paying industries in agriculture, textile, and wood processing predominantly employ local workers with lower levels of education and skills.

Regional disparities also play a significant role in salary discrepancies across Serbia. The capital city, Belgrade, and the autonomous province of Vojvodina boast the highest wages in the country. As the main economic and cultural centers, these regions attract businesses and investment, leading to a more prosperous job market. In contrast, the southern and eastern regions, characterized by their rural nature and lower development levels, generally have lower salaries.

Job opportunities in Serbia

Serbia’s job market has been evolving, with a focus on foreign investments and innovation. The Information Technology sector has experienced significant growth, earning Belgrade the nickname Silicon Valley of Europe. Global giants like Microsoft, Google, and other industry leaders have recognized the potential of Serbia’s skilled workforce, creating many job opportunities, especially in the tech domain.

However, the IT sector is not the only one that offers promising prospects for job seekers. Serbia’s economy thrives on the synergy of manufacturing, agriculture, and services. These sectors contribute to the country’s GDP, exports, and employment, and have the potential for further development and diversification.

Expats looking to work in Serbia should be aware of the work permit requirements. While EU citizens have certain privileges due to Serbia’s candidacy for EU membership, non-EU expatriates may need to explore the peculiarities of the visa application process in Serbia. To ensure compliance with Serbian immigration laws, consult the relevant authorities or seek legal advice from an experienced immigration lawyer.

Quality living on a budget: Serbia’s appeal to residents and expats

Serbia’s living standards have been steadily improving. In 2024, the country offers a comfortable and affordable lifestyle for residents and expatriates alike. The cost of living in Serbia is significantly lower compared to many Western European countries, which makes it an attractive destination for those in search of a high quality of life without breaking the bank.

Accommodation costs vary depending on the city and neighborhood. Belgrade, the capital, tends to have higher rental prices, while smaller cities and rural areas offer more affordable housing options. Expats may find a range of housing choices, from modern apartments in the city center to charming houses in the countryside.

Other costs, e.g., utilities, transportation, and healthcare, are generally reasonable and contribute to the overall affordability of living in Serbia. The country has a reliable electricity and water supply, a public transportation system that covers most of the urban areas, and a public healthcare sector that provides basic medical services. However, some expatriates may prefer to use private providers for better quality and convenience, which may increase their costs.

Legal employment and work permits for foreign nationals in Serbia

In Serbia, the conditions and procedures governing the employment of foreign citizens are outlined in the Law on Employment of Foreigners. To work legally in the country, a citizen of another nation must obtain a work permit either personally or through their employer. There are various types of work permits available, each serving specific purposes:

  • Personal Work Permit: This permit grants a foreign citizen the autonomy to independently seek and secure employment in Serbia.

  • Work Permit for a Specific Firm or Company: Typically acquired by the employer, this permit is specific to a particular firm or company.

  • Work Permit for Moving within a Company: This permit allows managers to move to their company’s Serbian subsidiary or branch.

  • Serbian Work Permit for New or Advanced Studies: Designed for those pursuing educational endeavors, this permit facilitates legal employment during studies.

  • Permit for Registering as an Individual Entrepreneur (Self-Employed) in Serbia: Individuals seeking to operate as self-employed entrepreneurs in Serbia may obtain this permit.

Please note that entering Serbia for a visa-free stay does not grant the right to work in the country. If your goal is employment, you are obliged to obtain a short-term residence permit and a work permit, both based on specific grounds. Notably, you are not allowed to combine a personal work permit with the one obtained through an employer.

Each permit has its own requirements and regulations. To avoid possible legal issues, you should follow them to a tee. Hence, foreign citizens who want to work in Serbia are advised to learn all they can about the intricacies of Serbian law and comply with the prescribed procedures to ensure they abide by local immigration regulations. All the relevant information is available on the websites of the Ministry of Foreign Affairs, Ministry of Interior, and National Employment Service. Alternatively, here’s the site that you are welcome to consult if you need any additional information about Serbia.

Using SerbiaWealth services, you will save both time and money and avoid any legal issues or complications. We have the expertise to guide you through obtaining any authorizations you may require in Serbia. Besides, we are here to offer you ongoing support and advice for your business operations should you decide to establish a company in the jurisdiction. Contact us today to achieve your Serbian personal and business goals in no time!