Business · Economy · 21 hrs ago
Banking and insurance salaries in Spain far exceed service and retail pay
Spanish tax data show finance and insurance workers averaged €53,251 in 2025.
That was far above the €24,111 average for retail and transport workers and the €14,867 average for personal and leisure services.
The figures cover nearly 390,000 finance and insurance employees, compared with millions of workers in the other groups.
They also show large pay differences between provinces: Madrid had the highest average in finance, at €70,482, while Badajoz had the lowest.
The data measure annual pay received by each employee, not hourly pay or full-time salaries, so part-time and temporary work affect the averages.
This is especially important in seasonal work such as agriculture, where pay may be spread across only part of the year.
The figures were updated by Spain’s tax agency and cover 2025, but exclude the Basque and Navarre provinces, which have their own tax systems.
Financial and insurance employees in Spain earned an average of €53,251 a year in 2025, far above average pay in commerce, transport and personal services.
The figures come from a tax agency survey covering provinces across Spain, except the foral provinces of the Basque Country and Navarre.
Average annual pay was €24,111 for workers in commerce and transport and €14,867 for workers in personal and leisure services.
Pay also varied widely by territory, with Madrid recording the highest average financial-sector pay and Badajoz the lowest.
The figures measure annual earnings per employee, not hourly pay or full-time-equivalent salaries, and include part-time and temporary work.
- Who
- Employees in Spain’s financial and insurance sector, commerce and transport, and personal and leisure services.
- What
- The tax agency’s figures show large differences in average annual pay across sectors and provinces.
- When
- The figures cover 2025 and were updated on Wednesday; the article was published on 13 November 2026.
- Where
- Spain, excluding the foral provinces of the Basque Country and Navarre.
- Why
- The article attributes the differences partly to sector and territorial variation; annual averages also include part-time and temporary workers.
This story does not have two clearly opposing sides.
The tax agency’s statistics recorded average annual pay across sectors and provinces.
The Spanish Tax Agency updated the statistics with 2025 data.
El País published its report on pay differences.
- Financial and insurance pay
- €53,251 average annual pay in 2025
- Commerce and transport pay
- €24,111 average annual pay
- Personal and leisure services pay
- €14,867 average annual pay
- Financial and insurance workforce
- Nearly 390,000 employees
- Highest financial-sector average
- Madrid, €70,482
- Lowest financial-sector average
- Badajoz was the lowest; its figure is not stated