Bosnia and Herzegovina hold the freedom score of 63.4 and is 68th freest in the 2022 list. In the Europe region, out of 45 countries, it is ranked 36th for GDP. The GDP growth rate of the country majorly depends on manufacturing such coal, iron and industries as chemicals. Since 2021, the country has boosted its GDP rank.
Major economic hubs:
Sarajevo, Banja Luka, Zenica, Tuzla
Skills in demand:
Marketing Manager, Information Technology Engineer, Software Engineer.
Local Universities
The top local universities in Bosnia & Herzegovina are as follows:
Univerzitet u Sarajevu (University of Sarajevo)
RANKING
Local: 1
World : 1899
Sveucilište u Mostaru
RANKING
Local: 2
World : 4156
Univerzitet u Banjoj Luci
RANKING
Local: 3
World : 4200
International BURCH University
RANKING
Local: 4
World: 5528
Internacionalni univerzitet u Sarajevu
RANKING
Local: 5
World : 5689
Salary Data
Below mentioned are some job titles in Bosnia and Herzegovina and the average monthly salaries;
Bosnia and Herzegovina’s Employment law are collective information on labor laws, benefits, deductions, and allowances. These laws are implemented for all employees. Learn more about this here.
Employee Contract:
The language of the employment contract in Bosnia and Herzegovina must be Bosnian, Serbian, Croatian, or the language which is understandable by both parties.
Probation Period:
The probation period for newly hired employees in Bosnia and Herzegovina ranges from 3 to 4 months.
Public and Provincial Holidays 2023
Date
Name
Type
Details
1 Jan
New Year’s Day
Public holiday
2 Jan
New Year’s (Day 2)
Public holiday
1 Mar
Independence Day
Public holiday
BiH
1 May
Labor Day
Public holiday
2 May
Labor Day (Day 2)
Public holiday
Employee Leaves:
Type of Leave
Time Period
Mandatory
Annual/Earned Leave
Atleast 18 days
Yes
Sick Leave
42 days
Yes
Maternity Leave
12 weeks
Yes
Payroll
Payroll Cycle
The payroll cycle in Bosnia and Herzegovina is Monthly.
Minimum Wage
The minimum wage in the Federation of Bosnia and Herzegovina is 543BAM and in Republika Srpska is 590BAM.
Overtime Pay
There is no mandatory percentage for overtime work. However, it is based on the collective agreement between employers and employees.
Bonus
13th Month Pay:
There is no statutory law for the 13th month of Pay in Bosnia and Herzegovina.
The employee and the employer can terminate the employment contract with a Notice period and severance pay based on years of service. The employer can immediately terminate the contract based on the reason for redundancy.
The severance pay of the employee must be 1/3rd of the employee’s average monthly salary for each year of service or more than six average salaries.
Visa and Immigration
A work permit visa is required for an individual to work in the country. Also, to avail of the work permit, the individual must provide all the personal documents, the employee contract, and evidence for administrative expenses within the country.
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