pic
Business Climatepic
Exceptional Workforcepic
Incentives and Benefitspic
Information for Investorspic
Starting a Business in Israel
Representative Business Costs
Salaries in the High Technology and Biotechnology Sectors
Comparative Salaries in the R&D Sector
Employee Social Benefits
Taxation
Visas and Work Permits for Executives
Living in Israel
Business Sectorspic
Success Storiespic
About Uspic

NEWS
NETANYAHU UNVEILS ECONOMIC RESCUE PLAN
Plans to curb unemployment and lessen impact of credit crunch
05/2009
RED HERRING TOP 100 INCLUDES 16 ISRAELI START UPS

05/2009
COLUMBIA UNIVERSITY AND VITAL VIEW LTD. TO IMPROVE IN VITRO FERTILIZATION

05/2009
SURGICAL MATERIAL DEVELOPED AT HEBREW UNIVERSITY GETS FDA APPROVAL

05/2009
BAYER CROPSCIENCE TO UTILIZE EVOGENE'S GENES TO DEVELOP HIGHER YIELDING RICE

05/2009
13 ISRAELI FIRMS AMONG FORBES' GLOBAL PUBLIC TOP 2000
Israel's presence grows from 10 companies last year
05/2009
INTEL CORP. JOINS CHIEF SCIENTIST COLLABORATION PROGRAM
"We'd be happy if all [2,000 Israeli companies listed as vendors of software solutions in Intel's database] joined the program." - Intel Developer Relations Division General Manager Christos Georgiopoulos.
05/2009
ISRAEL PROMOTES ALL-INCLUSIVE FILM PACKAGE WITH NEW 20% TAX INCENTIVE

05/2009
NEW INCENTIVE LAUNCHED: GRANTS COVERING UP TO 50% OF LABOR COSTS TO R&D CENTERS ESTABLISHED IN THE NEGEV AND GALILEE

05/2009
ISRAEL’S FOOD PRODUCER OSEM TO BUY FOODTECH FOR $20 MILLION

12/2008
TOWER SEMICONDUCTOR MERGES WITH JAZZ SEMICONDUTOR

09/2008
ISCAR MAKES HEADLINES AGAIN: ACQUIRES LARGE JAPANESE CORPORATION FOR $1 BILLION

09/2008
BANK OF ISRAEL GOVERNOR FISCHER VOICES CONFIDENCE IN ISRAEL'S ECONOMIC SITUATION
Israel's economy expands 5.3% in the first half of 2008, following four consecutive years of annualized growth of 5%
09/2008
HERLEY INDUSTRIES ACQUIRES EYAL MICROWAVE
Together, they form the largest independent microwave company outside US
09/2008
NY MUTUALART.COM OPENS R&D CENTER IN ISRAEL
MutualArt.com Passes Member Milestone and Opens New R&D Center
09/2008
MONSANTO PURCHASES $18 MILLION STAKE IN EVOGENE
“We have been very impressed with Evogene’s discovery capabilities, particularly their computer-based, predictive biology efforts.” – Dr. Robb Fraley, Monsanto’s CTO
09/2008
IDE TECHNOLOGIES TO SUPPLY €100 MILLION DESALINATION PLANT TO AUSTRALIA

08/2008
ISRAEL'S OSEM TO BUY TRIBE MEDITERRANEAN FOR $57 MILLION

08/2008
ISRAEL’S SECOND QUARTER GDP RISES BY 4.2% IN ANNUAL TERMS

08/2008
FROST & SULLIVAN HONORS TRANSPHARMA MEDICAL FOR ITS INNOVATIVE VIADERM DRUG DELIVERY SYSTEM

08/2008
GERMAN SEMICONDUCTOR SUPPLIER CARL ZEISS SMT ACQUIRES ISRAEL'S PIXER TECHNOLOGY
"We are delighted at this reinforcement of our company by Pixer Technology," Carl Zeiss, SMT CEO Hermann Gerlinger
08/2008
EVENTS
EMPLOYEE SOCIAL BENEFITS

The cost of social benefits a company is required to contribute differs depending on the industry sector. Below we present the standard benefits common to two main  industry sectors. 

 

High-Tech Sector

(as a % of the gross salary)

 

Provident Fund*

5.00%

Severance Pay

8.33%

Disability

2.24%

Social Insurance*

5.68%

Advanced Training Fund**

7.50%

Total

28.75%

 

 

*        The employee contributes his share as well to these two funds.

**      A social benefit that has become the norm in Israel for educated/skilled employees, which functions as a savings program.

 

Additional Benefits required by Law:

Transportation (excludes company car holders)

$4.70 per day (~$103 per month)

Convalescence Pay

$350-$700 per annum

Vacation

12-24 days per annum according to seniority

Sick Leave

18 days per annum. Cumulative right of 90 days.

 

 

 

Possible additional benefits:

Company Car (for managers and senior employees)

~ $1,000 per month

Cellular Phone service

$40- $60 per month

Options/Bonuses

According to company policy

 

 

 

                     

To all this should be added the following two social benefits:

a. Holiday gifts (Jewish New Year and Passover)

b. Meals provided by the company.

 

 

Disclaimer: Invest in Israel offers this information only as an example of common practice in industry. Legal counsel should be consulted to establish the exact level of social benefits to be offered.

 

Medium Technology Industry Sector

(as a % of the gross salary)

 

Remark: Unlike the High Tech sector most other industry sectors abide by the collective industry agreements prevalent in Israel to which the Manufactures Association of Israel is party.

 

Main Package:

 

Provident Fund*

6.00%

Severance Pay

8.33%

Social Insurance*

5.68%

Total

20.01%

 

 

*        The employee also contributes his share to these two funds.

**      A social benefit that has become the norm in Israel for educated/skilled employees. Some industry sectors/companies might apply this benefit, others not, which functions as a savings program.

 

Benefits required by Law:

Convalescence Pay

$350 - $1,200 per annum

Transportation (excludes company car holders)

$4.70 per day   (~$103 per month)

Vacation

12-24 days per annum according to seniority

Sick Leave

18 days per annum. Cumulative right of 90 days.

 

 

Possible additional benefits:

 

Company Car (for managers)

~ $1,000 per month

Disability

2.24 %

Advanced Training Fund**

7.50 %

 

To all this should be added the following two social benefits:

a. Holiday gifts (Jewish New Year and Passover)

b. Meals to be provided by the company.

 

 

Disclaimer: Invest in Israel offers this information only as an example of common practice in industry. Legal counsel should be consulted to establish the exact level of social benefits to be offered.


Last modified: 1/27/2009 pic