In the ten countries where people get paid the most, the Institute for Management Development (IMD) World Talent Ranking assesses how countries develop, attract and retain talent.
We have crunched the numbers from this report showing how much services professionals and management level workers are paid worldwide to find the top 30 countries with the highest average annual salaries.
The Countries Where People Get Paid The Most
The IMD report has found that worker motivation in companies in Sweden is high, and attracting and retaining talent is a priority for companies. Moreover, they certainly pay their skill well. Service professionals earn an average of $47,831, while management earns $216,928.
9. THE UK
It might all change after Brexit but for now, the UK is in the top 10 highest-paying countries. Service professionals here earn an average of $45,691. Management makes an average of $230,721.
It’s not just the skiing that attracts and retains talent in Austria. Service professionals here have an average gross annual income of $40,720. Management, meanwhile, earns an average of $266,124.
Scandinavian and Nordic countries are well represented in the top 30 highest-paying countries. Denmark has a highly effective personal income tax rate of 29.84%, but the salaries reflect this. Service professionals earn $59,093 while management-level professionals are paid an average of $208,038
The IMD report found that German companies prioritize employment training, which might explain why worker motivation in companies is high. Still, the salaries are also a major contributing factor too. Service professionals earn $42,280, while management takes home $289,253.
Japan is known for being a hard-working nation, but all the dedication pays off. The country’s service professionals have an average income of $48,177. Its management-level workers earn an average of $238,248.
4. Hong Kong
It might now be part of China, but Hong Kong’s salaries are far higher than those on the mainland. Its service professionals have an average gross annual income of $45,050. Management earns an average of $265,336.
Luxembourg might be one of the smallest countries in the world, but it pays some of the highest salaries. Its service professionals have an average gross annual income of $58,425, while management earns an average of $246,477.
It at number 2 in the USA. The country is known for its excellent customer service, and its service professionals certainly get well remunerated, taking home an average of $60,717. Management-level staff is on an average of over six times this at $382,189.
If you’re looking to work in another country, Switzerland is the one to opt for. It has the highest salaries in the world. Its service professionals earn an average of $92,625 a year. Meanwhile, its management workers take home a massive $431,603 a year. The effective personal income tax rate is just 10.91% too. Time to emigrate?