A worker on the Balearic Islands earned 19,791 euros on average in 2021. In contrast, in the Community of Madrid the average salary amounted to 27,981 euros. This represents a difference of 8,190 euros per year. The average gross salary in Spain that year was 21,519 euros, which places the worker in the islands well below the state average, according to the latest data from the Tax Agency.
Since 2019 the Agency has added a statistic with the Estimated Average Salary in addition to the average salary, where contracts of less than one year are eliminated. In this case a rise in salaries on the islands can be noted: it reaches 28,035 euros per year. Madrid registers 33,843 euros, 5,808 more than in the Balearic Islands. With this variation, the islands are in fourth position in Spain, only behind the capital, Catalonia and Asturias.
There were also 99,130 people on the islands who earned less than half the minimum wage, with an average of 3,194 euros per year. In the opposite bracket, those who earn 10 times or more the SMI, there are 1,086 people, with an average salary of 219,122 euros per year.
Disparity between Spanish and foreign workers
There is also a great disparity between the salaries of those with Spanish nationality and those with foreign nationality with respect to foreigners. The former reached 21,254 euros per year in 2021, while the latter only received 13,746 euros, 7,508 less.
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