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HOW MUCH COULD YOU EARN AROUND THE WORLD?

We’ve looked into some of the UK’s most popular job roles and after taking cost of living into account, discovered their equivalent earnings from across the globe. Find out if the grass is really greener below...

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Equivalent Earnings of IT Technicians Around the World

Today, the world is run with the use of the internet and amazing advances in technology, with almost every company making use of computers, smartphones and the abilities that they offer. When things go wrong though, there’s always the need to call the IT Crowd! For that reason, IT Technicians generally enjoy healthy average salaries across the world. When considering average salaries and cost of living, the UK is the third highest paying country on the list, trumped only by the USA and China.

Rank Country Equivalent Earnings Average Salary Cost Of Living Index
1  China £62,389 £38,681 0.62
2  USA £54,840 £59,776 1.09
3  UK £45,374 £45,374 1.00
4  France £45,329 £51,675 1.14
5  Saudi Arabia £41,596 £31,197 0.75
6  Switzerland £39,459 £74,182 1.88
7  Russia £38,685 £22,824 0.59
8  Belgium £37,917 £42,467 1.12
9  Germany £35,595 £36,307 1.02
10  Australia £34,019 £38,101 1.12
11  Japan £33,844 £44,336 1.31
12  Brazil £31,574 £20,523 0.65
13  Canada £31,101 £32,345 1.04
14  Thailand £30,963 £23,532 0.76
15  Spain £30,943 £25,992 0.84
16  Netherlands £30,921 £35,559 1.15
17  Italy £29,785 £31,572 1.06
18  South Korea £29,551 £33,984 1.15
19  Poland £27,742 £16,645 0.60
20  Ireland £27,192 £31,815 1.17
21  Norway £26,714 £42,742 1.60
22  Greece £24,123 £20,987 0.87
23  South Africa £23,837 £15,971 0.67
24  Portugal £23,078 £18,001 0.78
25  New Zealand £22,044 £24,689 1.12

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The Cost of living index has been calculated in relation to the cost of living in the UK. For example, living in Switzerland costs 90% more than living in Britain, so has an index of 1.9. Poland, Russia and China have the lowest cost of living, with an index of 0.6. This means that it’s 40% cheaper to live in these three countries compared to Britain.

Both the average salary and the relative cost of living needs to be taken into consideration when calculating the Equivalent earnings for each scenario.

Example:

  • Sandra is an Accountant working in Britain. Is Sandra likely to be better or worse off doing the same job in Norway? She can see that average earnings are higher, however the cost of living is also higher.
  • Imagine Sandra earned the average salary of £36,561 as an Accountant in Britain. If she found a job in Norway paying the average salary for this role, she could expect to earn £39,295 - that’s £2,734 (almost 7.5%) more.
  • However, the cost of living is also 60% more (index of 1.6). When we factor this in, it reduces Sandra’s overall standard of living, if she moved to Norway. Her Equivalent earnings would be £24,559, making her effectively £12,002 worse off than working in Britain in the same role.
  • The calculation used in Sandra’s case is: £39,295 / 1.6 = £24,559 (Actual salary in Norway / Cost of living index = Equivalent salary)

If you’re a small business owner, why not check out our Knowledge Centre for tips on how to market your business more effectively, stand out from the competition and maximise your earning potential? 

See below for a full list of the sources used within this research.

Sources

Worldwide salary data compiled in October 2019 using the following sources:

All salaries converted to GBP using correct conversion rate on 28 October 2019.