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? Are you looking for a country that will actually pay you the big bucks and make you rich beyond your wildest imagination? Well, let’s take a quick look at the top 10 countries where the workers earn the most.
The Netherlands has one of the busiest and largest seaside ports in all of Europe, which is also the major reason why the average salary for Netherlanders hovers around $47,000 a year. Although because the Netherlands is a democratic socialist country, they give up nearly 31% of their income for things like universal healthcare and higher education. But the other benefit of being a Netherlander is that your average work week is under 35 hours. Yeah, not too shabby.
#9 South Korea
South Korea is one of the fastest growing economies not only in Asia but in the entire world. South Korea is the fifth largest exporter and the seventh largest importer in the world and is heavily dependent on foreign trade to support its robust economy. It’s also one of the biggest exporters of energy. Yeah, it produces so much nuclear energy that it actually sells it to neighboring countries. South Korea’s average salary is USD 36,039 per year with personal taxes hovering around 18%. But the biggest downside is that the average work week is around 42 hours.
Yup, another socialist democracy on the list (you’re actually going to see quite a few of them). Norway is one of the wealthiest nations in terms of natural resources including oil, hydropower, fishing, and minerals. Like the Netherlands, Norway has universal health care and higher education, but this, of course, comes at a price: Norwegians give up close to 31% of their $49,000 per year average wages. But what they give up in taxes, they make up for in overall free time. Norway has a mandatory 35 hour work week.
Oh, Canada, how we Americans love and slightly distrust you. Canada is Wealthy with a capital W. 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 income of most Canucks is around $45,000 a year, but the tax rate is around 23%. That 23%, of course, pays for universal health care and public education. And, oh yeah, Canada’s average work week is around 36 hours per week.
#6 United Kingdom
Ah, the merry old UK. England, Scotland, and Northern Ireland comprise the second largest economy in all of Europe. England itself isn’t exactly the strongest link in the UK, considering that 73% of its work force is almost entirely service based and utterly dependent on tourism. No, the real powerhouse country within the UK is Scotland, whose waters contain the largest oil reserves in the European Union. The annual income for the UK is around $41,000 per year, with a tax rate of around 25%. But, once again, the UK has publicly funded healthcare and education. However, residents of the UK don’t get to enjoy all that much of their healthy salaries considering that their average work week is 42 hours per week.
Another one of those pesky socialist democracies. Australia has one of the most robust economies in the world and is a huge exporter of food stuff as well as oil and minerals, and it imports very few goods. Australia’s average income is $51,050 per year with a tax rate of around 23%, which, of course, goes to making sure its citizens are healthy and well educated. Oh, and Australia enjoys a mandatory 35 hour work week.
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 gross annual income hovers around $53,000 per year with close to a 30% tax rate. Can you guess where that 30% goes?
If Bank Of America, Citibank, and Chase were a country, it would be 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. The average income in Luxembourg is around $55,000 per year, but has a 28% tax rate, which provides all of its citizens with all that good stuff I’ve mentioned before.
While Ireland is still the agricultural center of the British Isles, its real money comes from the technology industry. Several major video game design companies as well as several hundred smaller tech companies call Ireland their home,. The average annual income in Ireland hovers around $51,000 per year, which is lower than Luxembourg, but Ireland’s annual tax rate is only at 18.9%, which is the lowest in all of Europe.
#1 The United States
Ah, see, you are actually paid what you’re worth. 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. American’s gross annual income is around $56,000 per year and the tax rate is around 23% (which is the same as Canada, Australia, the UK, and considerably more than Ireland). We enjoy the highest level of disposable income in the world, however, we work our asses off with an average work week of 44 hours.