Acceptable yearly salary for 1 in Norway?
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TeacherGal
- Posts: 128
- Joined: Sat May 14, 2016 8:51 am
Acceptable yearly salary for 1 in Norway?
What would be an acceptable yearly salary in Euros for one person to live on in Norway with no other financial benefits such as housing, shipping, flight, etc. But still hoping to enjoy life and save something but obviously not buckets of money.
Response
Would this be in Oslo?
Euros wont do you much good in Norway they use crowns (kroner/Kr.) and getting by you will need about Kr.33K/mth net (after tax) or €3200-€3300/mth. Add onto that what ever your savings expectations are and thats what you need.
Norway has a very high tax rate of about 40% so you would want a gross salary in the Kr.50K range assuming you want to save about 10%. These high taxes however provide you both a great social health care system, and a reasonable pension scheme, as well as other protections. So aside from major purchase such as home or vehicle or holiday there isnt much need to save large portions of income.
Housing will be your largest expense, a 1LDK will take up about Kr.15K/mth and utilities (electric, gas, water, sewer, internet) another Kr.2K and mobile (with data) about another Kr.1K, add transport, at about another Kr.1K and you would have about Kr.14K/mth left over (those cost are liberal, you will likely have some Kr. left from each category), so your fixed expenses are about half your monthly coin. Which is still reasonable as you would want to join an athletic club and a good one will add another Kr.1K.
That might sound reasonable but most everything in regards to groceries has to be imported spending Kr.10K/mth isnt unreasonable, you could get by (and not be starving) with half that (Kr.5K) but then you would be dining out more often. Which is another high expense as a cappuccino in a cafe will run about €5 and a brew in a pub twice that (€10), or the same same for house vino, or twice (€20) that if youd rather a glass of good vino, with the meal coming to about €20 easy, and it makes a night out very pricey, unless its a short night or someone else is picking up the tab.
Euros wont do you much good in Norway they use crowns (kroner/Kr.) and getting by you will need about Kr.33K/mth net (after tax) or €3200-€3300/mth. Add onto that what ever your savings expectations are and thats what you need.
Norway has a very high tax rate of about 40% so you would want a gross salary in the Kr.50K range assuming you want to save about 10%. These high taxes however provide you both a great social health care system, and a reasonable pension scheme, as well as other protections. So aside from major purchase such as home or vehicle or holiday there isnt much need to save large portions of income.
Housing will be your largest expense, a 1LDK will take up about Kr.15K/mth and utilities (electric, gas, water, sewer, internet) another Kr.2K and mobile (with data) about another Kr.1K, add transport, at about another Kr.1K and you would have about Kr.14K/mth left over (those cost are liberal, you will likely have some Kr. left from each category), so your fixed expenses are about half your monthly coin. Which is still reasonable as you would want to join an athletic club and a good one will add another Kr.1K.
That might sound reasonable but most everything in regards to groceries has to be imported spending Kr.10K/mth isnt unreasonable, you could get by (and not be starving) with half that (Kr.5K) but then you would be dining out more often. Which is another high expense as a cappuccino in a cafe will run about €5 and a brew in a pub twice that (€10), or the same same for house vino, or twice (€20) that if youd rather a glass of good vino, with the meal coming to about €20 easy, and it makes a night out very pricey, unless its a short night or someone else is picking up the tab.