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STUDYING IN GERMANY

These are the German degrees that will land you the biggest salaries

Studying in Germany is becoming an attractive option for ever more foreign students. But which German degree courses will lead to the highest earnings?

These are the German degrees that will land you the biggest salaries
Photo: DPA

The figures compiled by job site StepStone and published by Statista on Thursday show that medicine and dentistry are the degrees that will bring you the biggest financial reward. People who go on to become doctors and dentists in Germany earn an average of €79,538 per year.

In second place is law: qualified lawyers earn €74,013 on average. Law and medicine programmes are two of the toughest to get into in Germany, both demanding near perfect scores in school leaving exams.

Perhaps unsurprisingly, philosophy and humanities students can expect to earn a much more modest income in their working life. As students of Goethe and Schiller will only take home on average €47,022 a year, it is just as well they studied something much more valuable than money.

The figures were based on salary data from 60,000 professionals and business leaders in full-time employment.

More and more foreign students are choosing to study in Germany, based on the fact that it has the lowest graduate unemployment rate in Europe, and that there are no tuition fees.

A report released by Study.EU in March argued that Germany is now the best destination for foreign students in Europe, above the UK.

MUST READ: Nine reasons you should consider studying in Germany

WORKING IN GERMANY

German steelworkers agree 6.5 percent pay hike after strike

Tens of thousands of steel workers in western Germany will get a 6.5-percent pay hike this year - the biggest jump in three decades - in a settlement that could set the tone for industry as inflation soars.

German steelworkers agree 6.5 percent pay hike after strike

The agreed increase would come into effect “from August 1st”, the IG Metall union in the region of North Rhine-Westphalia said in a statement Wednesday.

The 68,000 steelworkers in the industrial region would also receive a one-off payment of 500 euros for the months of June and July, the union said.

The outcome of the negotiations was “the biggest increase in wages in the steel industry in percentage terms in 30 years,” said IG Metall boss, Joerg Hofmann.

Germany’s largest union, IG Metall launched a strike action at steelworks in the west in May after management failed to meet its demands for an 8.2 percent pay increase.

On Thursday at the peak of the movement, around 16,000 workers across 50 firms downed tools, the union said.

READ ALSO: Should foreign workers join a German union?

“Rising inflation” and the “good economic situation” of the steel industry were the basis for IG Metall’s demands.

Consumer prices rose at a 7.9-percent rate in Germany in May, a record for the country since reunification in 1990 driven by the outbreak of the war in Ukraine.

The smaller number of steelworkers in the east of Germany, who are also seeking an 8.2 percent pay boost, have yet to reach their own agreement.

Negotiations are currently taking place in a number of sectors. In the textile industry, 12,000 workers in the east of Germany sealed a 5.6 percent pay increase at the beginning of May.

Meanwhile, negotiations covering the auto industry, and mechanical and electrical engineering will begin in November.

Despite the agreed rise the onus was still on government to relieve the pressure on workers form rising prices “in the coming months”, IG Metall boss Hofmann said.

Significant wage demands have prompted concerns of a wage-price spiral, where rising pay sustains higher inflation.

The European Central Bank last week said it would raise its interest rates for the first time in over a decade this July as it seeks to stamp out price rises.

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