28 countries listed by average yearly wages financial articles
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28 countries listed by average yearly wages

By Wikipedia,
the free encyclopedia

http://en.wikipedia.org/



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The average wage is a measure for the financial well-being of a country’s inhabitants. A similar measure is GDP per capita. However, GDP (on the income side) = compensation of employees + gross operating surplus/mixed income + taxes on production – subsidies. This way, various components increase the GDP that are not directly contributing to the well-being of citizens. In particular, the gross operating surplus consists of corporate profits, which is money that companies save, reinvest, or pay to their shareholders in the form of dividends (who may be located outside the country). Even in the case of reinvestment, much of the money moves offshore, especially with larger multi-national companies. In order to measure the part of the income generated by the domestic economy that is actually earned by the employees, it is better to break down the GDP to its components and consider only wages and salaries.

Methodology

The data presented represents full-time average annual gross wages and salaries in the entire economy of selected Organisation for Economic Co-operation and Development (OECD) member countries. The figure is derived by taking the national accounts aggregate of wages and salaries, dividing them by the national accounts aggregate for average wage and salary employment, and multiplying it by the ratio of average weekly working hours per full-time employee to average weekly working hours for all employees. The resulting estimates correspond to average annual wages per full-time equivalent dependent employee. The calculations were made using the latest data from the OECD. Wages and salaries are a component of GDP on the income side.

Since PPP conversion is a widely accepted way to compare income (including wages), the data listed are in PPPs (for private consumption).

According to the OECD, the figures here may not match that of other sources for a variety of reasons; National Accounts (NA) wages include both full-time and part-time workers at a full-time equivalent rate. This is likely to reduce the level of NA wages (as compared to average earnings from only full-time jobs) since average wages for part-time workers, even at a full-time equivalent rate, are lower than average earnings from full-time jobs; The lower level of NA wages for certain countries such as Germany, as compared to average earnings reported from some well-known surveys, probably reflects the inclusion of employees in mini (part-time) jobs and apprenticeships. Low-paid apprentices are counted as employees in national accounts and labour force surveys, but are omitted from structure of earnings surveys; Some alternative estimates, for instance those based on labour cost surveys, are limited to establishments with ten or more employees. These surveys tend to overstate average wages, relative to the more comprehensive coverage of NA wages.

Rank Country Disposable USD
2011
Disposable USD
growth
Compulsory
deduction
Gross USD
2011
1 United States 42,050 242 Increase 22.8% 54,450
2 Ireland 41,170 531 Increase 18.9% 50,764
3 Luxembourg 37,997 -1,477 Decrease 28.1% 52,847
4 Switzerland 35,471 -57 Decrease 29.4% 50,242
5 Australia 34,952 835 Increase 22.3% 44,983
6 United Kingdom 33,513 -1,272 Decrease 25.1% 44,743
7 Canada 32,662 -648 Decrease 22.7% 42,253
8 Norway 32,620 913 Increase 29.3% 46,153
9 South Korea 31,051 1,341 Increase 12.3% 35,406
10 Netherlands 29,269 -544 Decrease 37.8% 47,056
11 Austria 29,008 -177 Decrease 33.4% 43,555
12 Sweden 28,301 480 Increase 25.0% 37,734
13 Denmark 27,974 -335 Decrease 38.6% 45,560
14 Japan 27,763 724 Increase 21.0% 35,143
15 France 27,452 93 Increase 28.0% 38,128
16 Spain 26,856 -466 Decrease 21.9% 34,387
17 Finland 25,747 146 Increase 29.8% 36,676
18 Belgium 25,642 25 Increase 42.2% 44,364
19 Israel 24,225 147 Increase 18.9% 28,804
20 Germany 24,174 379 Increase 39.9% 40,223
21 Italy 23,194 -562 Decrease 30.8% 33,517
22 Greece 21,352 -2,039 Decrease 18.8% 26,295
23 Portugal 17,170 -2,044 Decrease 24.5% 22,742
24 Czech Republic 15,115 -191 Decrease 23.0% 19,630
25 Slovakia 14,701 -328 Decrease 22.9% 19,068
26 Poland 14,390 116 Increase 28.3% 20,069
27 Estonia 13,737 -444 Decrease 20.7% 17,323
28 Hungary 12,843 52 Increase 35.0% 19,437



Published - September 2013


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