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April 15, 2023

Only 2% of University Graduates in Austria Remain Unemployed After

Austria has recorded a high university graduates employability rate, with only two per cent of graduates remaining unemployed two years after completing higher education. That’s according to the latest update of the Graduate Tracking (ATRACK), a joint project of Statistics Austria and a consortium of the country’s higher education institutions led by the University of Vienna.

Data show that four out of five university graduates are employed in Austria two years after graduation, SchengenVisaInfo.com reports.

Commenting on graduate employability, Statistics Austria Director General Tobias Thomas said there are excellent job market opportunities for those graduating from higher education institutions in Austria.

He said the degree earned from these institutions also pays off financially because three years after obtaining a university diploma, the average gross monthly salary is about €3,400.

“Three years after graduation, the average gross monthly salary is around 3,400 euros per month, five years later it is 3,800, and ten years after graduation graduates earn an average of 4,600, although the salary varies according to the course of study and academic degree”, Thomas said.

According to a media release by Statistics Austria, salaries also depend on the education level; for instance, those holding bachelor’s degrees earn a median income of about €3,000 monthly three years after obtaining the degree, and those with a master’s diploma earn about €3,600. On the other hand, PhD graduates or doctorates earn €4,400.

Whilst 45 per cent of students get hired at graduation, 81 per cent are employed one year after completing their degrees, and the figure goes up to 82 per cent after two years.

But in the long run, a slight decline in the number of employed graduates has been observed, partly attributed to more female graduates taking maternity leave.

“While two years after graduation, six per cent of them were on parental leave, the figure rises to almost 13 per cent ten years later. At this time, only one per cent of male graduates are on parental leave,” the release reads.

Data also reflect the share of women and men full-time workers, with men outnumbering women in full-time jobs after graduation. 89 per cent of men in Austria work full-time compared to 78 per cent of women three years after graduation.

There is a huge disparity between genders ten years after graduation when the share of men working full time is still 89 per cent, but the employment rate of women falls to 53 per cent.

The issue of the gender pay gap, according to the report, is also present in Austria. Employed women in the country earn around €3,100 monthly compared to men, who make around €3,900.

Overall, EU Member States have recorded a significant increase in university graduates but also in the number of unemployed youngsters, which jumped 11 per cent in 2021.

Last year, the European Office for Statistics, Eurostat, said there were about 3.9 million graduates across the EU in 2019.

>> Number of EU Students Outside Labour Force Peaks at 73%, Eurostat Reveals