Individuals to Receive Higher Compensation Effective From May
Upcoming Pay Raises for Over 274 K Austrians, Starting May 2022
Brace yourselves, Austrians! While you usually get your wage boosts in January, this year, a good chunk of employees are in for a surprise – a bonus payday in May.
Rise in Wages
Approximately 27,400 workers in the wood industry will witness a 2.8% wage jump, effective May 1st. IST earners will experience a slightly different increase – 2.75%, with a maximum of 90 euros per month. Striking an agreement on a two-year contract, employers and employees will adjust their wages based on the May 2026 inflation rate.
Meanwhile, the hotel and catering industry workers are in for another round of wage hikes, already confirmed for May 1st, following last year's agreement.
Wages across the board will increase in tandem with the annual inflation rate, plus an additional 1.0%, starting from May. This inspiring figure propels the minimum wage to over 2,000 euros for the first time.
Note: Though recent economic reports suggest similar wage hikes in other sectors in May 2025 and beyond, they do not provide specific data on the May 2022 wage adjustments for the Austrian wood, hotel, and catering industries. For more detailed insights, you may have to explore industry-specific documents or economic reports from that time.
- Despite the traditional wage increases in January, many Austrians, including those in the wood industry, will receive unexpected pay raises starting from May 2022.
- In alignment with the annual inflation rate, all wages across Austrian businesses will increase by 1.0% over and above the inflation rate, as of May 2022.
- In the hotel and catering industry, workers have already agreed to another round of wage increases effective from May 1st, 2022, following last year's accord.
- Employers and employees in the wood industry have agreed to adjust wages based on the May 2026 inflation rate, as part of a two-year contract, with IST earners witnessing a 2.75% increase, capped at 90 euros per month.
