Spain

Last Update by Katie, 31 May 2024

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Exchange Rate

13 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Madrid

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (EUR)
McDonalds Set Meal 10
Monthly Train and Bus Tickets 52
3 Bedrooms Rental (City Center) 2,313
3 Bedrooms Rental (Outskirt) 1,684

Current Inflation Rate

3.31%

Wage

Minimum Wages

  • 1,134 gross per month in 14 payments

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (EUR)
Entry-Level
Fresh Graduate
20,500
Mid-Level
5 Years
37,500
Experienced & Managerial Level
10 Years
55,600
Specialized & Senior-Level
15 Years
61,500+

Annual Salary Growth

5%

Statutory Contribution

Country Level

Type Employer Rates Employee Rates Notes
Social Security TGSS (Includes Pension) 24.10%
Contribution base 1,260 EUR - 4,720.50 EUR
4.80% All staff
Unemployment Fund 5.50% 1.55% All staff
Salary Guarantee Fund 0.20% - All staff
Work Accident Insurance Variable rate of 1.50%-1.65% - All staff
Professional Training 0.60% 0.10% All staff
13 and 14 Salary payments 2 extra salary payments in July & December - All staff
Work from Home Allowance (mandatory) 50 EUR per month - All staff who work from home

Other Benefit

Other common employment benefits in Spain include:

  • Public Transport Tickets: Around 1,500 EUR per year
  • Lunch Vouchers: Around 220 EUR per month
  • Health Insurance Allowance: Around 100 EUR per month

Income Tax

Residents

  • Tax period: 1st of January – 31st December
    Filing start date: 30th June
  • IRFP: Varies from one autonomous region to another

Country Level

Taxable Income Rate
Up to 12,450 19%
12,450- 20,200 24%
20,200- 35,200 30%
35,200- 60,000 37%
60,000- 300,000 45%
+ 300,000 47%

Non-residents

  • IRNR: Income from Spain

Country Level

Taxable Income Rate
Citizens of the European Union / the European Economic Area 19%
The Beckham Law: Special Expatriate Scheme
General flat rate up to 6 years
24% income up to 600,000 EUR
45% income over 600,000 EUR

Working Hours

Statutory

40 hours
8 hours a day, 5 days a week

Typical practice

40 hours
Monday-Friday

Overtime

Voluntary, except if a collective agreement exists

  • - Must be compensated for in pay or by rest periods over the next 4 months
    - Maximum 80 hours per year

Employment Contract

Permanent

Can be full or part-time and must state the number of daily, weekly, monthly, or annual hours as well as the distribution.

Probation

2-6 months maximum and can be extended for a maximum of 6 months in total
Non-qualified workers: 2 months

Termination

During probation: No legal requirement to give notice
After probation: 15 days for all employees unless otherwise specified in the contract

  • Severance:
    - 20 days' pay for each year of service

Public Holiday

10 days - varies across autonomous regions

Country Level

Date Name
01 Jan New Year's Day
06 Jan Epiphany (Three Kings Day)
28 Feb Dia de Andalucia
01 Mar - 02 Mar Balearic Islands Regional Holiday
19 Mar - 20 Mar St Joseph's Day
28 Mar Maundy Thursday (Jueves Santo)
29 Mar Good Friday
01 Apr Easter Monday
01 May Labour Day
24 Jun St John's Day
15 Aug Assumption of Mary
11 Sep National Day of Catalonia
12 Oct Fiesta Nacional de Espana
01 Nov All Saints' Day
06 Dec Constitution Day
09 Dec La Inmaculada Concepcion
25 Dec Christmas Day
26 Dec St Stephen's Day

State/Province Level

Barcelona

Date Name
20 May Whit Monday

Leave

Leave Type Entitlement Notes
Annual Leave 30 calendar days (23 business days) All staff
Maternity Leave 16 weeks Expectant mothers
Paternity Leave 16 days Expectant fathers
Parental Leave 2 weeks Staff adopting or have a disabled/ foster child
Sick Leave Up to 1 year All staff
Ill family Leave 2 working days Staff caring for a seriously ill family member
Moving Home Leave 1 working day Staff moving home
Bereavement Leave 2 working days Staff with death of a family member

Reference

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