10 Most Profitable Professions in the Baltics in 2024
In 2024, Latvia, Lithuania, and Estonia’s economies have shown significant growth, leading to increased salaries in key sectors. The rise in international investments, technological advances, and demand for skilled professionals are driving these changes. Let’s explore how salaries have evolved from 2023 to 2024 in the ten most lucrative professions.
1. IT Specialist
The average salary of IT specialists increased by 10%, reaching €4400, compared to €4000 in 2023. The growing importance of digital technologies and software development is making IT professionals indispensable across industries, particularly software developers, DevOps, and cloud technology specialists.
2. Data Engineer
Salaries for data engineers rose by 12%, reaching €3920, up from €3500 in 2023. The growing importance of data analytics and artificial intelligence in business is increasing demand for these professionals, who help companies make data-driven decisions and optimize processes.
3. Doctor
Doctor salaries increased by 8%, reaching €6000, compared to €5500 in 2023. Demand for medical professionals remains high, especially in surgery and anesthesiology. The growth of private clinics and increased public health investment has boosted incomes for doctors.
4. Financial Analyst
The average salary of financial analysts increased by 7%, reaching €3210, compared to €3000 in 2023. Financial analysts play a key role in making strategic decisions for businesses, particularly in the context of globalization and integration with international markets.
5. Cybersecurity Specialist
Salaries for cybersecurity specialists grew by 11%, reaching €5000, up from €4500 in 2023. As the number of cyberattacks rises and data protection demands increase, cybersecurity professionals are becoming essential across major companies, especially in finance and IT sectors.
6. Biotechnologist
Salaries for biotechnologists rose by 9%, reaching €3700, compared to €3400 in 2023. The development of technologies in medicine and pharmaceuticals has increased demand for biotechnology specialists, who play a key role in developing new drugs, treatments, and biomaterials.
7. Project Manager
The average salary of project managers increased by 6%, reaching €3500, up from €3300 in 2023. Successful project managers help coordinate projects in industries such as IT, construction, and consulting. They are necessary to ensure projects are completed on time, within budget, and with high quality.
8. International Law Lawyer
Lawyers specializing in international law saw their salaries increase by 8%, reaching €5200, compared to €4800 in 2023. The growth of cross-border deals and Baltic companies’ participation in international markets has created increased demand for experienced lawyers in international corporate and intellectual property law.
9. Airline Pilot
Pilot salaries increased by 7%, reaching €7000, up from €6500 in 2023. Pilots in civil aviation continue to be among the highest-paid professionals. The high cost of training and responsibility on the job make this profession exclusive, maintaining high salary levels.
10. Chief Marketing Officer (CMO)
In 2023, CMOs earned around €5000, but in 2024, their salaries increased by 9%, reaching €5450. Successful marketing strategies are becoming critical to businesses, especially in an era of increasing competition and digitalization. CMOs are responsible for branding, promotion, and strategic development in international markets, making their work highly sought after.
In 2024, salaries in key Baltic professions have shown a significant increase, particularly in IT, medicine, and cybersecurity. Compared to 2023, salaries have grown by an average of 5–12%, reflecting stable labor market development and growing demand for qualified professionals.
To remain competitive in the job market, it’s important to continuously develop your skills and stay updated on trends in your field. Being willing to learn new technologies and adapt to changes will make you more attractive to employers.
Fun Fact
Lithuania is one of the global leaders in the number of startups per capita, making it attractive to young entrepreneurs and technology professionals.