Irish workers on €60,000 get more take-home pay than European counterparts

The research, taken across 32 countries by the Irish employment outsourcing company Boundless, shows that someone in Ireland takes home €43,203 from a €60,000 salary, behind a UK worker’s €46,236 from the same salary.

This puts Ireland’s ninth out of 32 for the greatest share of take-home pay in Europe.

The most take-home pay for a €60,000 salary in any European country is Bulgaria, where workers get to keep €51,239.

The most heavily taxed is Iceland, where just €30,525 from a €60,000 salary is given in net pay. Portugal, often touted as a desirable remote-working location, is one of the most heavily taxed countries, with just €33,800 available in net pay from a typical €60,000 salary.

However, the Irish data does not take into account after-tax costs, such as housing. Irish house prices rose by 7.3pc in the three months to May compared with the same period last year, according to figures from MyHome.ie in association with Bank of Ireland.

The survey also shows Ireland is the sixth-cheapest country to employ someone on a €60,000 salary, with employers paying an average of an extra €6,630 to do so.

It is more expensive to employ a UK worker on €60,000, costing employers €67,099.

For employers, the most affordable European country is Lithuania, which costs €61,074 for a €60,000 salary. The most expensive for employers is Austria, which costs €88,618 for a €60,000 salary.

Ireland and the UK are both in the top 10 lowest employer costs out of the 32 countries surveyed, and are in the top 10 for the most net income to workers from a €60,000 salary.

“The report shows the two English-­speaking countries make a lot of financial sense for companies building ­distributed teams in Europe,” Boundless CEO Dee Coakley said.

“The lower employment costs free up a lot of room in the budget.

“From an employee perspective, there’s also a financial draw. The higher take-home pay, compared to other European countries, could make a real difference in buying power and lifestyle.

“While living expenses are higher in the UK and Ireland than some parts of Europe, the numbers still show some appealing financial perks for workers and businesses when compared to countries such as Portugal, Austria or France.”

Boundless employs people on behalf of its customers in 25 countries. It obtained the data from internal salary calculators in collaboration with local payroll partners in each country. The figures include applicable regional legal and economic conditions.