As a matter of fact, with the pandemic the cards have been mixed up: those who have temporarily moved, have then decided to stay where they had gone with the idea of staying only for a few months. With the opportunity of smart working, people have moved, discovering unexpected places and deciding to relocate there. The problem is always the same though: money. Before making radical choices, it is necessary to understand how much you need to earn to maintain (or if anything improve) your lifestyle and not to worsen it.
The tool developed by William Russell, who created a sort of “salary calculator”, can be useful for this.
We rely on Glassdoor data to find the average salary level of 36 types of jobs, the most common, from teacher to nurse, lawyer to bartender. All salaries, found in the 38 OECD countries, have been converted into dollars and pounds and there is a parameter. For example, a nurse in Portugal earns an average of $ 14,000, but in South Korea she earns $ 33,000 and in the United States $ 66,000. The differences can be truly remarkable, from country to country: so a software developer in Colombia takes just over 15,000 euros, while in Switzerland 107,000.
Switzerland is often among the countries with the highest wages, but the cost of living must also be considered, which is still very high there, but William Russell’s calculations also take that into consideration. Thus the value of salaries in Turkey will still have to be recalibrated, as Turkey is one of the countries with the lowest cost of living. Apparently, as it is written in Quartz at Work as a lawyer in Istanbul you could earn relatively little – the “salary calculator” sets the salary at $ 7,400 per year – but the cost of daily expenses such as rent and groceries, it means that in the end it compares to the $ 64,000 you would earn as a lawyer in Reykjavík.
So, before moving, there are many things to take into consideration: how is that country doing with health insurance? Is it a country where you have to keep the heating on for a long time? How much does the transport cost from there, are there low cost flights? And after all the calculations, there is also the heart: if it’s time to go you go and then you will understand!
Other stories of Vanity Fair that may interest you:
Smart working, 40 thousand euros for those who move to the Piedmontese mountains
I’m moving to follow my husband. And I’m looking for work
Source: Vanity Fair
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
