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Posted on April 06 2022

What are the benefits of working in Finland?

By  Editor
Updated April 03 2023
Finland, a member state of the European Union, is in the north-western part of Europe. Also known as the Republic of Finland, it is a Nordic country that borders Sweden, Russia, and Norway. If you are planning to work in Finland, know what the European country offers as benefits to migrant workers. The Finnish economy is prosperous, and its per capita output compares with other economies in Europe, such as Germany, the UK, and France. The service sector is the major revenue earner of this country. *Need assistance to work in Finland. Y-Axis is here to assist you in all the moves.   Work hours and leaves Workers are expected to put in 40 hours a week. They are entitled to 30 paid holidays annually after they complete at least one year of service with their employers are entitled to extra earnings when they work overtime and have 12 public holidays in a year. Occupations in demand in Finland   The major sectors for employment in Finland are Information Technology (IT), Healthcare, and Biotechnology.   Average wages According to Statistics, an online statistics portal, the average yearly income in Finland is more than €43,000. Although there is no prescribed minimum wage in Finland, employment benefits ensure that wages are considered fair. In fact, some employers even provide food and residence to their employees.   Taxes    This European nation has in place progressive taxation, implying that the percentage of taxes rises proportionately with the wages.   The Finnish Tax Administration defines taxes. After they are collected, they are distributed to the government, the Social Insurance Institution, known as Kela, municipalities, and the church.   Employee Income Tax For those who earn up to €17,220 per year, the income tax rate is nil
  • it is 6% for those earning above €117,200 and up to€25,700
  • it is 17.25% for those who make more than €25,700 per year
  • it is 21.25% for those who earn more than €42,400 per year
  • and 31.25% for those earning more than €74,200 per year
  Social security The country's social security system offers monetary support to its citizens right from the time they are born up to old age. Included in these benefits are healthcare and unemployment allowances. There are several coverages for families, such as child support, home care allowances, maternity allowances, and private care allowances. Additionally, employers provide occupational healthcare allowances too. Employees who have worked for a company/organization for over a month are entitled to sick pay in Finland. Most employers ask for a doctor's certificate before they pay the allowances. The sick pay is about 50% of the income of the employee.   Healthcare benefits   Employers provide healthcare benefits from Mehiläinen, a provider of social and healthcare services in Finland, Sweden, Estonia, and Germany. The benefits cover their preventive healthcare, vaccines, medical specialist services, psychiatric services, and physiotherapy.   Municipal taxes are used to fund healthcare services in the Finnish public sector. When the natives of Finland, covered by the country's social security system, use private healthcare clinics, they are reimbursed by the government. Various insurance companies also provide additional insurance options. As the insurance is not very expensive, you can avail healthcare services at private clinics.   Accident insurance An employer must compulsorily cover the expenses of accident insurance to a migrant worker employed in Finland. This comprehensive insurance covers all injuries at work and while commuting to the workplace.   If overseas employers have relocated employees temporarily in Finland for work, the employees would be covered by the insurance of the home country of the employer.   Parental leaves   Finland offers various time-off options for employed parents to tend to their young children. There are cumulatively 263 days of maternity and paternity leave. Parents are entitled to earn a daily allowance from KELA as per their salaries during the time of their family leave. Workers are expected to return to their employment after the family leave lapses. If this somehow does not work out, they are eligible, in accordance with the contract of their previous employment, they can take up a similar job in a different place.   Temporary leaves for parents   If your child aged below ten gets sick, you are entitled to up to temporary care leave of 4 days.   Educational leave Finnish companies allow their employers to take a study leave of up to two years if they have been working in the same organization for over a year. But the education of these workers has to be related to the company's activities they are employed in.   Work culture Finland's work culture is fair and accommodating, and a strict hierarchical system is not followed. Companies give their employees flexibility in working times and holidays.   Workers are given enough personal space. Finland values integrity, punctuality, and parity highly. In fact, they are told to imbibe these values in the workplace. Autonomy and independence are encouraged at offices in addition to teamwork. Trade unions Trade unions are active in Finland. They supervise and handle all labor conditions and wages. Aggrieved employees can take their cases to a labor union that will provide them with legal assistance. Finnish citizens advise new employees to join these work unions.   If you want to work in Finland, reach out to Y-Axis, the world's No. 1 Overseas Career Consultant.   Found this blog interesting, read more on... Y-Axis overseas jobs page for more updates



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