Luxembourg’s statistics office said that in 2018 the average salary of a hospitality sector worker was €33,796 compared to €99,250 earned by people in the financial services sector.

But in the financial sector, nearly three quarters of workers have a higher education degree, Statec said in a report published on Wednesday, compared to 9% of employees in the hospitality industry.

In an analysis of factors influencing the amount someone gets paid, Statec found that a higher education degree results in a salary increase of 24% compared to someone with only a secondary school diploma, when all other factors--such as industry, size of company or type of contract--are the same.

People working for larger companies also tended to earn more, Statec said. Employees with a permanent contract (CDI) earned 22.7% more than those on a fixed-term contract. Someone in a leadership position earned 30.1% more than their colleagues even when other factors are the same.

The most well-remunerated jobs in Luxembourg can be found in the public sector, followed by the financial services industry and teaching. Construction, retail and hospitality are among the lowest paid jobs.