Results of the 2024 Labour Market Survey

Loimu’s annual labour market survey was conducted in the traditional manner via an online questionnaire, which was sent to all employed Loimu members with a valid email address in the membership database. The survey was open from November 1 to December 1, and a total of 2,202 responses were received. The response rate was 21.7%, which is a reasonably good result.

The average salary of all respondents was €4,806, with virtually no increase compared to the previous year. The median salary was €4,555, only €55 higher than in 2023.

According to Statistics Finland, the median monthly earnings for all Finnish wage and salary earners in October 2024 was €3,223. For those with a higher university degree, the median monthly earnings were €4,696 in 2023. 

UNCERTAINTY FACTORS IN THE STUDY

This survey study cannot support overly far-reaching conclusions about the development of income levels, as studies of this type inherently involve a degree of uncertainty. The survey samples vary between different years: the respondents are not the same from year to year. Additionally, the sample sizes are relatively small, which inevitably introduces some degree of inaccuracy in the key figures. These uncertainty factors must be taken into account when interpreting the results.

WHAT WAS ASKED?

The annual labour market survey conducted by Loimu examined various aspects related to the salaries of its members. Respondents were asked about their total monthly income (gross monthly earnings) for October 2024. They were instructed to include the combined taxable value of any fringe benefits. Overtime pay, holiday bonuses, and capital income were excluded from the reported monthly earnings. The salary analysis included only those members in permanent or fixed-term employment who were working full-time.

IMPLEMENTATION OF THE STUDY

The labour market survey was carried out by Taloustutkimus Oy. The questionnaire was sent to all full members of Loimu who had a valid email address registered in the membership database. The response rate was 21.7%, which was slightly lower than the previous year.