You enrolled in a local university, studied hard, finished your degree and now want to continue your stay in Austria? You maybe would like to be employed or start a business. Here we discuss which opportunities Austria offers for international students and graduates of Austrian universities.
Austria allows international students to work and start a business after they finish their degree. They can extend their residence permit for a maximum of 12 months to find a job. It applies to graduates of bachelor’s, master’s, and Ph.D. programs.
In the end, all will depend on the nationality of graduated students. Austria has different regulations for citizens of EU/EEA counties and non-EU/EEA plus Romania, Bulgaria. Let’s look closely at your possibilities in this article.
Work or Start a Business After Graduation in Austria
Graduates from the EU/EEA and Switzerland enjoy free labor movement since the 1st of May 2011 and may take up any employment in Austria without a permit.
Students from Non-EU/EEA and Croatia
1. Job search after graduation
In Austria, countries which are not part of the EU/EEA are called “third.” Third country graduates who have successfully finished their degree studies in Austria may, after the expiry of their student visa, reside for a further twelve months in Austria to search for employment or start a business.
They need to apply for a confirmation by the competent residence authority (MA 35). You must apply for this document before the expiry of the student visa.
The biggest advantage of graduates requesting a Red White Red Card is that they don’t have to go through a labor market test and points system, as regular applicants do. It makes the whole process much easier with a high success rate and less time-consuming.
Graduates from Croatia have freedom of settlement but are not entitled to unlimited labor market access as EU/EEA members. They are eligible to apply for an employment permit without a labor market test.
2. Receiving an employment offer
After third country graduates have found the job they were looking for in these twelve months, they can easily apply for RWR (Red-White-Red) Card. This permit allows you to settle temporarily (for 24 months) in Austria and work for the employer specified in your application.
After it expires, you are eligible to apply for Red White Red Card plus. This permit entitles you as a non-EU/EAA national to fixed-term settlement and unlimited labor market access (as a self-employed or an employed person, not limited to a specific employer). Red White Red Card plus will be valid for one year.
The main requirements you need to fulfill to get a residence card, and work permit are to find employment matching your qualification and prove a minimum salary of 2,349 EUR per month. With 3,629 EUR as the average salary in Austria, it must be an easy task to do. Check other general Red White Red Card requirements on this website.
Till 2014 graduates from Romania and Bulgaria were not able to work without a permit, fortunately, after Austria has opened unlimited access to the labor market.
Start a Business After Graduation
The process of starting your own business after graduation is pretty much the same as finding a job. EU/EAA members won’t need a permit and could start GmbH or self-employment pretty much straight.
Non-EU/EEA citizens and Croatian graduates will face more hurdles. Non-EU/EEA citizens can renew their student visa for a period of twelve months to start a business, but they need to fulfill the general requirements such as:
- Health insurance coverage
- Financial proof of 966,65 EUR per month * 12 = 11,600 EUR
It will be mostly the same process, and you will need to apply for the Red-White-Red Card. This time you will fall into Self-employed Key Workers and Start-up Founders categories.
Health insurance for Austria
In Austria, private health insurance is often cheaper than public one. Students can take out coverage with Care Concept for a very reasonable price (51 EUR per month). It’s one of the best insurance for international students and expats in Austria.
Moreover, their packages are 100% valid for visa and resident permit applications. I used the Care Austria package for my resident permit application and kept the insurance for the three years I lived in Austria. I never had any problems with it. All my health expenses were reimbursed within a short period.
You can also find suitable health insurance coverage in Austria’s comparison biggest website Durchblicker. Durchblicker is just a convenient tool, with no additional or hidden costs. Signing for the policy is possible right on their website. Read over 1,400 positive reviews on Trustpilot, where Durchblicker receives a 4,8 rate.
Self-employed Key Worker requirements
To be eligible for the Red-White-Red Card for Self-employed Key Workers application, your self-employed occupation in Austria must create macroeconomic benefit for the country; it could be achieved by falling into these criteria:
- Your investment capital is minimum of 100.000 EUR or
- Your business will create new jobs or secure existing jobs in Austria or
- Your establishment involves the transfer of know-how and the introduction of new technologies or
- Your business will bring considerable significance for the entire region
Start-up Founder requirements
You can set up a start-up in Austria only if your goal is to establish a company to develop and launch innovative products, services, processing methods, or technologies on the market. Additional requirements:
- You submit a consistent business plan for establishing and running that company
- You will personally exert a controlling influence on the management of the newly set-up company
- The company’s capital must be minimum 50.000 EUR, with an equity share of at least 50 %
- You score a minimum of 50 points according to the following criteria with a maximum of 85 points
You can see a point system here as well as a complete list of required documents.
My advice is not to start a business in Austria. I have spoken with many people in this country, who had this idea but changed their minds because of complexity, high expenses and a bunch of bureaucratic work involved in this process. If building the business is your goal, I would suggest looking into Germany, Switzerland, and super easy start-up country Estonia.
Where Else You Can Stay after the Graduation?
In Australia, international students can apply for a Temporary Graduate visa (subclass 485), which allows them to stay in Australia for 2-4 years after they’ve graduated.
The duration of stay depends on the degree: students with a bachelor’s or master’s degree can stay for two years, a master’s degree for three years, and a doctoral degree for four years.
After graduating from a German university, international students can extend their student visa for 18 months. Same as in Austria, this period allows them to find a job that fulfills their qualifications.
After finding the job, graduates are able to apply for the German residence permit or EU Blue Card. These resident permits will be valid for up to 5 years.
International students who study in Canada can apply for the Post Graduation Work Permit, which allows them to stay for up to three years. After they graduate, they have six months to apply for this.
Foreign graduates can apply for a program called Optional Practical Training while still staying on their student visas. It allows students to work in the US for 12 to 36 months, depending on their study area.
Where To Work after Graduation in Austria?
Basically, all jobs which meet your qualifications and interests are suitable. If you are an EU/EAA citizen, there is no restriction on the type of job; it can differ from your skills.
For Non-EU/EAA applicants is more complicated or almost impossible to work in another field, at least the first 24 months. As your work permit will require a match between qualification and job offer.
What are the most common jobs in Austria?
- marketing assistant
- business project manager
- web developer
- business consultant
- social workers
What is the average salary in Austria?
Austria is one of the highest-paid counties in Europe. According to the statistics, the average salary is 58,171 EUR gross, the minimum monthly wage is 517 EUR, and the maximum is 16,910 EUR. The employee receives payment 14 times per year.
- Engineer – 61, 094 EUR
- Manager – 79,288 EUR
- Project Manager – 74,247 EUR
- IT-Manager – 72,900 EUR
Can I bring my relatives to Austria?
Yes, if you are self-employed or holder of Red White Red Card/plus, EU Blue Card, settlement permit, settlement permit – special cases of dependent gainful occupation, settlement permit – researchers your family is eligible to apply for Red White Red Card plus. Who can apply:
- registered partners and
- unmarried minors including adoptive and step-children
Spouses and registered partners must be 21 years of age or older when applying.
Can I work part-time?
If you are from EU/EAA countries – yes, absolutely, there are many part-time job offerings. Non-EU/EAA citizens could not work part-time unless they find a desirable offer with a salary of 2,349 EUR as it is a requirement for a Red-White-Red Card.
If they decide to reduce the number of working hours after receiving a permit, they may lose eligibility as their salary might no more fulfill requirements.
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