9 High Paying Jobs for Americans Living Abroad in Europe
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If you want to move to Europe as an American, chances are you’ll need a job. Not only do you often need a job for visa purposes (unless you fall into a loophole of dual citizenship or marriage), but you’ll also need to make a living.
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But what kinds of jobs are out there for American expats living abroad in Europe? And what do they pay? Read on to find out.
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Data Scientist
A data scientist can get paid quite handsomely in some European countries. Here’s the typical pay for this role in top locations:
- Austria — up to 85,000 euros
- Belgium — up to 80,000 euros
- Cyprus — up to 70,000 euros
- Denmark — up to 95,000 euros
- Germany — up to 90,000 euros
- Italy — up to 70,000 euros
- Spain — up to 70,000 euros
- Sweden — up to 90,000 euros
Cybersecurity Specialist
According to Glassdoor, the typical estimated annual pay for a cybersecurity specialist in Germany is 60,000 euros. Other sources put the typical pay of a cybersecurity consultant at about 70,000 euros to 130,00 euros per year. Pay depends on factors like location and experience.
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Software Engineer
Some software engineer roles can pay a lot. According to the CS Career Questions Europe Subreddit, here’s the typical pay for this role in several European countries:
- Portugal — 22,000 euros per year
- Germany — 50,000 to 55,000 euros per year
- U.K. — 22,000 to 30,000 euros per year
- Netherlands — 40,000 to 70,000 euros per year
Note that the cost of living varies significantly across countries. Even if the pay might be lower than the standard in America, it could be considered a high salary in the destination country.
University Professor
Teaching at a European university could also be lucrative for Americans living abroad. It depends on the location and experience. According to Statista, this is the average take-home pay of full-time professors in certain European countries:
- U.K — 91,973 (in euros)
- Germany/Bavaria — 82,627 euros
- France — 56,335 euros
- Italy — 57,178 euros
Finance Jobs
According to Northwest Executive Education, finance professionals can earn a high salary in Europe. Here are the numbers:
- Investment bankers earn 100,792 euros on average
- Private equity professionals earn 80,000 euros to 250,000 euros on average
- Asset managers earn 81,412 euros on average
- Chief financial officers earn 124,297 euros on average
Business Consultant
A business consultant’s average annual salary is $74,000 in Europe. Some people earn closer to $103,000. Breaking this down further:
- U.K. — $142,000 average yearly salary
- Netherlands — $45,000 average yearly salary
- Portugal — $142,000 average yearly salary
- Germany — $103,500 average yearly salary
Key Considerations for Americans Moving Abroad
Moving overseas to Europe as an American — and getting a high-paying job — is possible. But there are things to consider.
“The biggest barrier is the taxes,” said Paul Stewart, founder and managing director at My Baggage. “Americans are presented with the double-filing dilemma [for example], they have to file their tax returns both with the European tax authority of their current residence and with the IRS.”
Setting up banking services and getting the right visa can also be tricky in some places. Some countries offer special visas for American expats with the right skill set. Others require you to get an employer sponsorship ahead of time.
You might be able to get a self-employment visa, too, but requirements vary by country. For example, Germany requires you to get a temporary residence permit. But to get this, you’ll need to meet certain conditions — such as having an economic interest or being able to prove a regional need for your business.
Whether you’re starting a business or not, be sure to brush up on your country of choice’s rules and regulations. It never hurts to be prepared.
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This article originally appeared on GOBankingRates.com: 9 High Paying Jobs for Americans Living Abroad in Europe
