Top 10 Countries with the Highest Salaries

Do you ever wonder which country pays its workers the highest salary? Have you ever thought that you’re not truly being paid what you’re worth? Let’s take a quick look at the top 10 countries where people enjoy the highest level of disposable income. What is disposable income? It’s the amount of money that a household gains each year after taxes and transfers, so it basically represents the money available to a household for spending on goods or services. These averages are based on the OECD research calculated for single workers without children. Do you think your country is on the list? Let’s find out, starting from 10-1:

10. FRANCE

France is ranked the world’s seventh largest economies. To explain why the French per capita GDP is lower than that of the United States, the economist Paul Krugman stated that “French workers are roughly as productive as US workers”, but that the French have allegedly a lower workforce participation rate and “when they work, they work fewer hours”.

9. SWEDEN

Based on World Bank data, this beautiful scandinavian kingdom is the sixth richest country in the world in terms of GDP per capita. Sweden is an export-oriented mixed economy: timber, hydropower and iron ore constitute the resource base of the economy with a heavy emphasis on foreign trade.

8. CANADA

The U.S.’s neighbors to the north possess the third largest oil reserve in the world just behind Venezuela and Saudi Arabia (which makes you wonder why America imports so much of its oil from Saudi Arabia…). The country is also rich in zinc, uranium, gold, nickel, aluminum, and the Canadian Prairies are one of the most important global producers of wheat, canola, and other grains. The average annual disposable income of the Canadian fellows is around $29,365 with a tax rate around 31%.

7. AUSTRIA

Austria has a highly developed industry, besides, the most important part of the national economy is its international tourism, which accounts for almost 9% of the Austrian gross domestic product. People get (after taxes) an average $31,173 salary, which is not bad considering that 49.4% is taken away as income tax and social security contributions.

6. GERMANY
Germany is the largest and most powerful national economy in Europe! However, Germany is also the first regarding the amount of taxes deducted from its citizens‘ income with 49.8%. Almost half! Can you believe? However, Germany has the world’s oldest universal health care system, so in return, people receive free health care and education on all levels. Oh, I almost forgot to mention, Germans‘ annual disposable income is $31,252.

5. AUSTRALIA

Australia has one of the most robust economies in the world and is a huge exporter of foodstuff as well as oil and minerals, and it imports relatively few goods. In terms of average wealth, Australia ranked second in the world after Switzerland in 2013. Australia’s average disposable income is $31,588 per year with a tax rate of around 27,7%.

4. SWITZERLAND

Switzerland’s manufacturing sector is the most vital and robust in all of Europe. It produces healthcare and pharmaceutical goods, specialist chemicals, precision measuring instruments and musical instruments. Yeah, think of it as Detroit before Detroit went tits up. Switzerland’s annual disposable income is $33,491, and they work around 35 hours weekly.

3. NORWAY

Norway is one of the wealthiest nations in terms of natural resources including oil, hydropower, fishing, and minerals. Like Sweden, Norway has universal health care and higher education, but this, of course, comes at a price: Norwegians give up slightly more than 37% of their wages. Still, at the end they receive $33,492 annually.

2. LUXEMBOURG

Luxembourg is more or less the financial center of Europe. Once the primary provider of steel in Europe, its vast exports market now includes chemicals, rubbers, and industrial machinery, and of course financial services. The average income after taxes in Luxembourg is $38,951 per year.

1. UNITED STATES OF AMERICA

No doubt, the United States is the most powerful country in the world. The US has abundant natural resources; it’s the largest importer of goods and the second largest exporter in the world. Americans receive $41,355 annually after the average 31.6% tax is deducted, which is more or less the same as in Canada.