Employment
Professional decisions made during your working life shape your personal and financial present and future.
The profession you choose will influence your income and, once you retire, your pension. Changing jobs may allow you to gain new perspectives. However, you should also carefully consider other long-term effects when switching jobs.
Employees pay social security contributions and taxes to the state. Both are deducted from their gross pay. While these payments reduce employees’ disposable income, they also come with different social security benefits in return. These include, for instance, unemployment benefits, which you can apply for if you lose your job. They also include access to appropriate health care when you are sick.
Striking the right work-life balance has become increasingly important to people. Taking parental leave and working part-time will affect your income and will have long-term effects on your career and retirement provisions. Careful financial planning is therefore essential in order to achieve a good work-life balance and financial stability in the future.
Links
- → Information on tax brackets and deductibles provided by the Federal Ministry of Finance (in German)
- → Information on tax brackets and deductibles provided by the Federal Ministry of Finance (in German)
