In 2018, the median monthly earnings of women insured under the earnings-related pension acts were 610 euros less than men’s. The gap was 850 euros in the private sector and 330 euros per month in the public sector. The monthly insured earnings of women were 80 per cent of those of men.

According to statistics of the Finnish Centre for Pensions, the median monthly earnings for which pension benefits accrue were slightly below 2,700 euros for employees in 2018. The median earnings of women (€2,410) were 80 per cent of men’s (€3,010). Median means that half of the persons in the study sample earned less than the median earnings.

The gaps in the earnings of employees are significant in the different sectors. In 2018, the lowest median earnings were in the municipal sector: slightly more than 2,400 euros per month. State employees received the highest monthly median earnings: 3,400 euros. The median monthly earnings of private sector employees were 150 euros higher than those of municipal sector employees.

Small gender gaps in municipal earnings

The gap in men’s and women’s median earnings was the highest in the private sector: 850 euros per month. The gender gap was the lowest in the municipal sector, where women’s median earnings were 94 per cent of men’s. The gap was 150 euros per month. The gender gap among State employees was in the middle: 650 euros per month.

”The earnings are the lowest in the municipal sector, where the gender gap is also the narrowest. State employees have the highest earnings, with women’s median earnings being 83 per cent of men’s. Private sector earnings are in-between these two,” explains development manager Jari Kannisto at the Finnish Centre for Pensions.

The monthly average earnings are somewhat higher than the monthly median earnings. In 2018, the average monthly earnings were slightly below 2,930 euros. Men’s average earnings were 340 euros higher than their median earnings, while women’s average earnings were 120 euros higher than their median earnings. Women’s earnings are distributed more evenly and narrowly than men’s, which is why the indicators for women are closer to each other than those for men.

Earnings vary by age

The 30–60-year-olds are most closely involved in working life. The earnings are the highest in this age range. For example, the median monthly earnings of the 40–49-year-old insured persons were 3,180 euros: for men, 3,660 euros and for women 2,810 euros.

“Men’s earnings are at their highest around the age of 40 and women’s around the age of 50. The reasons for the peak earning ages are clear: persons have gained a decent amount of work experience, the most hectic child raising years are over and the illnesses that come with age are not yet too disruptive,” Kannisto explains.

This statistical publication of the Finnish Centre for Pensions is based on data for 17–68-year-old persons insured under the earnings-related pension system. The earnings data includes only the earnings of insured employees; the self-employed are not included in the statistics. In 2018, the work of nearly 2.6 million employees was insured under the earnings-related pension acts.

At year-end 2018, a total of 3,741,000 persons under the age of 69 were covered by the earnings-related pension system. Of them, 2.4 million were working at the end of the year. A total of 260,000 of them were self-employed (insured under YEL or MYEL).

Persons insured for an earnings-related pension in Finland in 2018 (Julkari)

Persons insured for an earnings-related pension in Finland (etk.fi)

Persons insured for an earnings-related pension in Finland, graphs (SlideShare)

More information

Jari Kannisto, Development Manager, phone +358 29 411 2232, jari.kannisto(at)etk.fi