Senior
managers in Hong Kong, Switzerland and Ecuador are the best off financially,
according to a new study by Mercer Human Resource Consulting.
Mercer
examined the average salaries of senior managers in 50 countries worldwide, and
calculated their purchasing power, based on tax and social security deductions
and the local cost of living.
The
research shows that senior managers in Hong Kong score highest in the
purchasing power rankings and can buy almost seven times more with their
salaries than those in other countries.
Other
high-scoring countries for purchasing power include Germany, the US, Chile,
Uruguay and Venezuela.
Despite
high wages, high costs of living saw the UK come in at number 11, while the
survey found that the worst off are senior managers in India, Bulgaria and
Vietnam.
Carlos
Mestre, European partner at Mercer, said: "It’s wrong to assume that
managers are well-off just because they are well paid, or worse-off because
they are paid less."
"Senior
managers in the EU may earn some of the highest salaries in the world, but they
also pay much higher taxes and social charges than those in many developing
countries.
"While
managers in the EU are among the highest paid, most households need double
incomes to afford taxes and living costs, and maintain a comfortable standard
of living," Mestre said.
