Have you ever thought of working in Finland? Finland has plenty to offer, including a good level of living, a secure and well-functioning society, and easy access to nature. Four years in a row, the United Nations World Happiness Report ranked it the happiest country on the planet. It also has employment opportunities. As the baby-boom generation retires, Finland requires more workers.
This article contains information and links ranging from job postings to work-life balance.
Living And Working In Finland
Proximity to nature and recreation sites is an appealing part of living in Finland. Working in Finland has numerous advantages. Industries that are thriving and inventive provide several opportunities to grow your career and expand your abilities. Furthermore, because Finnish people understand that life is more than simply work, they value a healthy work-life balance.
Finland is a safe, stable, and functioning society with well-functioning public services such as healthcare and public transportation. In addition, the country has vibrant sports, recreation, and cultural scenes. Even from the greatest towns, beautiful nature places and wilderness are easily accessible. All children and adolescents have free access to great educational possibilities in one of the world’s best education systems.
Why You Should Consider Living And Working In Finland
Many Finnish employers are used to hiring employees from other countries. In recent years, the high-tech sectors have seen the greatest increase in job postings. Manufacturing and the service sector are expected to require additional personnel in the future years as well.
In the past, it was somewhat correct to state that Finland was a homogeneous country. However, we have always looked outward, and this is more true today than ever. Because the domestic market is small, a company’s growth usually necessitates international expansion. When young entrepreneurs establish a new business, they quickly go global – their generation was born global.
1. Labour Mobility
Finland benefits from labor mobility as an EU member. In the year 2020, 32,898 people moved to Finland, while 15,084 left the nation. Work-related immigration and social integration are on policymakers’ agendas.
2. Hi-Tech
Finland has a substantial and advanced technological sector. Finnish companies and technology have played a significant influence in fields such as mobile technology, electronics, cybersecurity, software, and gaming for decades. These companies are always on the lookout for exceptional professionals and frequently hire from abroad.
It’s no secret that Finland is an excellent destination to advance a career in ICT, gaming, or digitalisation. The country’s innovations allow businesses and individuals all around the world to enjoy never-before-seen experiences and solutions. To name a few, Finland was the first to introduce 5G, SMS, and the Linux operating system to the globe. International individuals seeking professional progression can find exciting employment chances in Finnish ICT enterprises.
Finland has vibrant ecosystems in bioeconomy and health technology, where prominent firms collaborate with universities, research organizations, and entrepreneurs to develop new solutions. These professions provide one-of-a-kind job chances in projects that address global issues.
What Currencies Do Companies In Finland Pay Workers With?
The euro (€) is Finland’s official currency, however there is no regulation requiring employees to be paid only in euros. Salaries and invoices can be paid in dollars, pounds, cryptocurrency, or whatever currency your employees desire.
What Are The Tax Rates For Different Tax Brackets In Finland?
Finland has progressive tax rates that range from 12% to 44% based on the taxable income of the employee. Employers must withhold taxes and contributions and remit them to the government.
The following are the national tax rates in 2023:
- €0 to €19,900 = 12.6%
- €19,900 to €29,700 = 19%
- €29,700 to €49,000 = 30.25%
- €49,000 and €85,800 = 34%
- €85,800 and above = 44%
Which Elements Of A Pay Are Taxable In Finland?
Residents in Finland are taxed on their international income. This includes any revenue generated by copyright, intellectual property, franchises, and investments (RSUs, stock options, and share warrants).
Is There A Distinction In Finland Between Permission And Reimbursement?
Allowances are capped, however there is no limit to how much of an employee’s personal funds can be spent (on work-related items) and reimbursed.
What Payroll Deductions Must Employers Make In Finland?
Employers are required to withhold and remit a variety of payroll deductions, including:
- national and municipal income taxes,
- pension insurance contribution
- unemployment insurance contribution
- group life insurance premium
- health insurance premium
- accident insurance premium
What Is The Finnish Minimum Wage?
Finland, like its Nordic neighbors (Denmark, Norway, Sweden, and Iceland), lacks a government-mandated minimum wage.
How Much Is Overtime Pay In Finland?
Employees are entitled to 50% extra pay for the first two hours of overtime worked each day, which escalates to 100% for every additional hours worked. Overtime work that surpasses an employee’s weekly working hours (i.e., 40 hours per week) entitles them to a 50% bonus on top of their regular compensation.
What Are Finland’s Local Labor Laws?
The Employment Contracts Act 2001 governs general employment law in Finland. Related legislation includes:
- Working Hours Act 2019
- Annual Holidays Act 2005
- Act on the Protection of Privacy in Working Life 2004
- Co-operation Act 2022.
These laws, when taken together, manage labor standards through enforcing norms such as:
- Employment contracts are indefinite by default unless specifically indicated differently.
- Although written contracts are not required when hiring an employee, the employer must express several crucial terms in writing. A contract should often include information such as the employee’s primary responsibilities, the length of the contract, the probation period, any collective agreements, salary and working hours, and the mandatory notice time before the contract can be canceled.
- Working hours are restricted to eight hours per day and forty hours per week.
- Rest breaks: If an employee’s working day exceeds six hours per day, they are entitled to at least one hour of rest each day.
- If an employee is injured on the job, they are entitled to paid injury leave.
- Discrimination on the basis of age, health status or handicap, sexual orientation, religion, language, race, color, trade union membership, and other factors is expressly outlawed by the 2014 Non-Discrimination Act and the Penal Code.