Which country pays the highest salaries?
Wondering which country pays the highest salaries?
A recent survey conducted by the banking group UBS found Switzerland to be the country that pays the highest net salaries in the world at the moment. [Source: reuters]
But it is not entirely a fairytale ending as its two high paying cities – Zurich and Geneva as both are also listed among the top 5 most expensive cities in the bank’s 2009 Price & Earning study.
Still, as the institution put it in their own words, “No other cities allows workers to take home more income at the end of the month than Zurich and Geneva”. Their relatively lower income tax rates also make the two cities a friendly place to live in, work and do business.
On the opposite end, Kuala Lumpur (Malaysia), Manila (Philippines), Delhi and Mumbai (both India) were found to be among the cheapest place to live in. However, many employees, including from 2 other cities – Jakarta (Indonesia) and Nairobi (Kenya) are paid some of the world’s lowest salaries and are struggling to keep up with even a low standard of living.
Coincidentally, UBS itself is a Swiss bank, and finding their birthplace to be in such position may give their personnel the mixed feelings. It conducts similar study that evaluates the earnings and income of workers in different countries about every three years. The analysis involved over 30,000 data points, collected by UBS appointed observers at different cities and parts of the worlds, with amount converted to a single currency for relative comparison.
Let’s move to Switzerland.