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from https://www.visualcapitalist.com/ranked-average-annual-salaries-by-country/

Ranked: Average Annual Salaries by Country
Published 11 hours ago on July 17, 2024
By Marcus Lu
Graphics/Design:
Anna Diederichs
See this visualization first on the Voronoi app.

Graphic ranking countries by average annual salaries

USE THIS VISUALIZATION

Ranked: Average Annual Salaries by Country
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There are many reasons for why salaries vary between countries: economic development, cost of living, labor laws, and a variety of other factors. Because of these variables, it can be difficult to gauge the general
level of income around the world.

With this in mind, we’ve visualized the average annual salaries of 30
OECD countries, adjusted for purchasing power parity (PPP). This means
that the values listed have taken into account the differences in cost
of living and inflation between countries.

Data and Key Takeaways
This data was sourced from the OECD (Organisation for Economic
Co-operation and Development), an international organization that
promotes policies to improve economic and social well-being. It has 38
member countries, though in this instance, data for all of them was not available.

All figures are as of 2022.

Rank Country Average Annual Salary
(USD, PPP adjusted)
1 🇱🇺 Luxembourg 78,310
2 🇺🇸 U.S. 77,463
3 🇨🇭 Switzerland 72,993
4 🇧🇪 Belgium 64,848
5 🇩🇰 Denmark 64,127
6 🇦🇹 Austria 63,802
7 🇳🇱 Netherlands 63,225
8 🇦🇺 Australia 59,408
9 🇨🇦 Canada 59,050
10 🇩🇪 Germany 58,940
11 🇬🇧 UK 53,985
12 🇳🇴 Norway 53,756
13 🇫🇷 France 52,764
14 🇮🇪 Ireland 52,243
15 🇫🇮 Finland 51,836

16 🇸🇪 Sweden 50,407
17 🇰🇷 South Korea 48,922
18 🇸🇮 Slovenia 47,204
19 🇮🇹 Italy 44,893
20 🇮🇱 Israel 44,156
21 🇪🇸 Spain 42,859
22 🇯🇵 Japan 41,509
23 🇵🇱 Poland 36,897
24 🇪🇪 Estonia 34,705
25 🇨🇿 Czechia 33,476
26 🇵🇹 Portugal 31,922
27 🇭🇺 Hungary 28,475
28 🇸🇰 Slovak Republic 26,263
29 🇬🇷 Greece 25,979
30 🇲🇽 Mexico 16,685


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From this dataset we can see that Luxembourg, the U.S., and Switzerland
offer the highest average annual salaries.

All three of these countries are highly developed economies with well-established service sectors, which typically lead to more
high-paying jobs. The cost of living in these countries is also
relatively high, necessitating higher wages to maintain a standard
quality of life.

At the other end of this ranking, Mexico and Greece have the lowest
average salaries. In Mexico’s case, the country’s economy has a large portion of lower-wage jobs, particularly in agriculture and manufacturing.

Greece, on the other hand, has struggled with consistently high
unemployment since the 2008 global financial crisis. This puts downward pressure on wages because there is a surplus of labor.

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