What Software Developer Can Afford Living in Munich

[@GermanInsider]

🚀 Big thanks to our sponsor, Honeypot! 🚀 If you're an IT specialist looking for tech opportunities abroad, Honeypot is the platform you need. It's completely free for job seekers! I landed my first position in Munich through Honeypot, and it could be your turn next. 👉 Check out Honeypot here (affiliate): app.honeypot.io/ref/KhUHr84ZJRJ6Ke9FbZ6FoWq1

[@Skylla54]

Yeap, solid breakdown. I'm a german Software Engineer as well and both of my parent got ill the last year, they got a well treatment. The best thing, i didn't go bankrupt meanwhile and was mentally never concerend with the cost, bought some flowers had a nice chit chat. Definitly a blessing, especially i know all other people around me have the same. If I speak to my collegues(non europeans&/germans), these stories, which happens to everyone, normally play out diffrently😅

[@GermanInsider]

I can confirm. Was also in similar situation. Didn't pay anything and got very good treatment for my wife and kid.

[@raylopez99]

Nice lifestyle, though if you don't mind risk you can make $300k to $1M in Silicon Valley...make enough money in a decade to retire. I myself retired in my 40s working in SV as a manager. But I had many different jobs, moving from some, being laid off in some, and so on, and it's not a stable existence if you have a family unless your partner is very loyal. I myself got a steady partner only after I retired. Bonus trivia: I ate at one of Wolfgang Puck's restaurants in LA in the early 1990s when he was not as famous as later. It was expensive. Even back then it was $100 a plate which is like $200 a plate today.

[@GermanInsider]

Did you simply saved enough money for retirement or got some part of capital on stock market?

[@raylopez99]

@@GermanInsider I worked hard, studied hard, networked, and then I inherited a bunch of money from a rich, childless relative in the Balkans.

[@GermanInsider]

Having enough money to retire in 40s. "Thats good. One less thing" (c) Forest Gump

[@joeyjoey22]

@@GermanInsider half the compensation is usually stock. Even if your total comp is $1m, the highest base salary is around $300K regardless of how high your total compensation is. In the last 10 years, $700K can easily turn into $7m. My partner is german, his stock compensation went from $300K to $3M in 2.5 years. Everybody knows which company that is lol, it is more common than you think. My company stock 15x in 5 years. I know people with $200K in ISOs that turned into $6M post IPO.

[@unyimeetim8681]

Thanks so much for the great content! As a software engineer working on moving to Germany, your videos have been very helpful.

[@GermanInsider]

Nice to hear that. Germany is not a bad place)

[@shubdotclub]

Great insights, my father was a software developer in Munich 25 years ago. We are in America now and I am a software engineer too :)), cool to see how it is across the world

[@GermanInsider]

Hi, and what is the situation for software developers in America? Is it better in terms of money?

[@shubdotclub]

@@GermanInsider I live in the Silicon Valley, so salaries tend to be high due to competition, a senior engineer can make cash compensation of between 160k~240k. It’s pretty wide depending on the employer, google or a hot startup with cash will pay higher than a normal tech company. Stocks can add a lot to this and you can see total salaries between 250-400k+ Cash is good as cost of living is high. Unlike Europe there is no social safety net so when you have older parents or your own medical issues those can add up as insurance in America is very bad

[@GermanInsider]

I heard that people are living Silicon Valley because of unpropitious prices. Is 160k enough for living there?

[@joolean7799]

Pay's pretty bad & frustrating in my experience, been paid ~50k gross with around 6 yrs of exp. as a mobile engineer at a well known company, that's why I switched to a diff. career; Grew up here and can say that the comp. definitely doesn't reflect the market's alleged demand for s. engineers - might be due to lower barriers to entry - e.g. easy visa process & apprenticeships existing. Health care is also not the best compared to other western countries - waiting half a year for a dr. appt. is the norm, you still have to pay a LOT out of a your own pocket & a significant portion of med school grads move to Switzerland upon graduation. All in all, It depends on what's important to you.

[@GermanInsider]

Hmm, man, are you really talking about Germany (Munich in particular)? I've never heard such stories about this place.

[@joolean7799]

@@GermanInsider Hi! Your video is definitely valuable and your points are generally valid. Having lived here for ~32 years (& worked in major German cities, not Munich though), I made a different experience in some aspects though, especially when compared to my living experience in other non-European western countries 🤠

[@GermanInsider]

I guess a lot of things changed since 30 years ago. But your salary of 50k looks OK for those times. And did you switch to some non-engineering career?

[@joolean7799]

@@GermanInsider Actually switched recently, half a year ago (I'm almost 33), so my 6 years of mobile dev. exp. applies to the past 6.5 years 👍 Working in UX now (got 2 bachelors in both CS and design)

[@Velmen17]

Thank you for sharing!

[@user-iw1vl7pv4u]

You must be a Russian from Latvia by your accent. Rent is pretty cheap comparing to America if a 2 bdrm apartment in such a city as Munich costs you just 1,800 Euros.

[@GermanInsider]

I'm from Ukraine. But I lived in Riga 3 years before moving to Munich... not sure if it influenced my accent though)

[@pradeepkrv]

I'll try to share max people to my Berlin Group team

[@GermanInsider]

Cool. Glad you liked it. I appreciate your share!

[@MrAki28820]

Very informative video. Nobody tells you which car you can afford in their video.

[@aleksandrstaetskiy5687]

Really true video

[@newsalert1306]

Informative, But I am a frontend developer have more than 10 years experience, how I can relocate in Germany.

[@GermanInsider]

Hi, just wait 2 days. On Wednesday there will be video about how to relocate.

[@Rustam_Baziev]

great vid as always! why not move from Munich tho? Devs have more or less same salaries in Berlin, don't they

[@GermanInsider]

Berlin already has more or less the same prices for flats. Actually, we're thinking about Augsburg.

[@Rustam_Baziev]

@@GermanInsider according to Numbeo and my friend’s experience, Berlin is still way cheaper. I myself live for more than a year in Munich and it is a fantastic city for a fact, but my experience also is that it’s almost impossible to buy a flat and the most of the people are just enjoying the moment with no plans ahead. Way too expansive, and imho people do not make that much money. I know a guy, who started to work for Switzerland and lived in Austria. And a guy, who worked in Munich and lived in Augsburg. And woman, who bought a flat in Berlin, to fixate the prices. All in all, I think, we can agree, that the system need to be cracked, there is no other way. I think also that it work is a key due to the remote/hybrid possibilities. Anyway, I wisch you all the best and will support your activity as I can!

[@GermanInsider]

Thank you. For myself, I don't plan to stay here for whole life. As my kids will grow and will live separately, we plan to buy a property somewhere outside Germany. Hopefully by this time I will manage to earn enough money to afford what I want.

[@uplandd948]

So whats the good place in Europe? To earn good money as software engineer? Can afford materialistic things. Where is less tax?

[@GermanInsider]

I think Europe has more or less equal situation. Maybe Switzerland, but I'm still investigating pros and cons. Romania is also interesting, but I hear very different opinions. If you need money - USA, Asia, China ... Africa.

[@desmondgoldsmith2409]

@@GermanInsideryou mean Africa ? 💀

[@GermanInsider]

@@desmondgoldsmith2409 Yes, Africa. I know a couple of examples when people went to Africa as IT specialists and returned after 10 years with 1 million on the bank account. They lived there almost without expenses. Meaning that the company which sent them there, took over expenses for accommodation and transportation.

[@burakkeskin2155]

if you invest 1000 eur per month for 4 years you will be rich as f*ck :D and if your wife is working part time and bring home 800 or 1000 euros per month and you invest it too it will make you even richer in 4 years :D In Turkey people work his ass off for 500 euro per month and average rent prices is 600 euro :D

[@GermanInsider]

In Germany 50k capital is nothing. Maybe it will enough to start a business which will bring more money in case of success. But generally, I think that 2kk invested in stocks will generate enough income to live more or less good here. So I need to invest 1000+ every month for 40 years) P.S. Situation in Turkey looks shitty. I heard a lot about it from my Turkish friends.

[@burakkeskin2155]

@@GermanInsider I am talking about not decades if you got money just invest to Nvidia, İntel, AMD etc. Even Nvidia has grow in last 5 years 1326% if you invested 20K Euro 5 years ago now you got 260K Eur you can even buy a Ferrari now 😁

[@GermanInsider]

IMHO, buying stocks counting on x5 growth within couple of years is not investment. This is the same as bringing your money to casino. In such way capitals are not gained.

[@julianwagners]

Add 20% for everything exept the salary and its more realistic in my opinion

[@GermanInsider]

Of course, it depends on your needs))

[@and_new]

Noticed that comparing your salary to average salary is misleading. It is better to compare it to the median salary which is lower: 43 750€ for 2024

[@GermanInsider]

The main idea of the video to show, that Software Developers do not live like kings in Germany (as many people think). Btw. in Munich median salary is around 56k.

[@and_new]

​@@GermanInsider it depends what you understand as living as king in Germany. With a salary of 3800€ you earn more than 90% of population and 93% of singles. The 1800€/65qm for rent in Munich is an anomaly which is only valid for those unlucky who need to find an apartment there today. In all other places it is much cheaper. As a software developer you can try to find a remote/hybrid position which allows you to work from outside of Munich. I still wouldn't buy an expensive car, but you certainly can get one which costs more than 25k.

[@GermanInsider]

By "living as a King" I understand the situation when you don't count money for your everyday needs. Maybe something wrong with me. I don't have crazy needs. But currently for a family of 4 people I'm still counting money, though we have income in top 5%.

[@pradeepkrv]

Hey... I see your presentations are very good. But your subscribers are low.

[@msangelpk]

Such a nice videos. This is very helpful. I am also Software Engineer with more than a decade experience. For a family of 4 (kids less than 10 years), what should be my salary in Germany (Berlin or Munich) to maintain a good lifestyle in Germany. I am from Asian Country. I have an offer of 75000 per year. Looking forward for your reply.

[@GermanInsider]

Hi, with 75000 you will get something like 4300 net each month. 2k you will pay for flat and utilities. This is enough for living. You will definitely have necessary things. But for everything else you will need to "count money".

[@msangelpk]

@@GermanInsider Alright. So according to your experience what should be the salary for a family of 4 people. Is it 80,000 or 85000 or whats the minimum figure?

[@GermanInsider]

My personal opinion. For Munich it should be 8000 net per month for the family. You will not feel rich, but comfort starts from this number.

[@blasterxt9]

High tax rate in germany sir 😊

[@GermanInsider]

Yes. Until you earn less then 20k per month, the benefits you get for this taxes is acceptable. After 20k I would consider changing the country.

[@blasterxt9]

@@GermanInsider Switzerland is better sir

[@blasterxt9]

@@GermanInsider also lots of paper work

[@GermanInsider]

What is better in Switzerland?

[@blasterxt9]

@@GermanInsider tax rate is low and beautiful and safe