2. Ireland
Average annual income: $41,170
Ireland’ economy highly focuses on advanced technologies and production industries. This has made the country to be among the top five nations with the highest annual average salaries. Luckily, people working in the country enjoy a low corporate tax rate. Also, the large population is highly educated, thereby attracting jobs with huge remunerations. Its gross income is at $50,764 (which is an increase of $531 from the previous year) but comes with 18.9 percent compulsory deductions.
3. Luxembourg
The average salary was estimated to be $37,997
How much money does a person working in Luxembourg make in a year? You may wonder! The average yearly wage in Luxembourg is $37,997.
4. Switzerland
Average annual salary: $35,471
Though there is a considerable gap between the rich and the poor, the country’s average salary is about $35,471 per year.
5. Australia
Annual earning averaging $34,952.
For a long time, Australia has enjoyed a positive balance of trade. This is partly due to the fact that the country has always focused more on exporting commodities than manufactured goods. Generally speaking, finding work in the country is not a problem and salary progress as your experience increases is relatively good. People working in this country earn a gross income of $44.983 per year, which comes with a 22.3% compulsory deduction. Judging from the latest Australian Bureau of Statistics, the disposable income of the Australians has gone up by $800.
6. The United Kingdom
Average annual salary: $33,513
Tourism is among the top economic sectors that the UK has heavily invested in. From recent data, The United Kingdom is the sixth biggest tourist destination globally, and its capital, London, records the highest number of visitors annually. UK’s service industry accounts for less than 75 per cent of the country’s GDP.
Save for New York; the country ranks first in the world as the largest financial center worldwide. It has an average gross income of $44,743, with a compulsory deduction rate of 25.1 per cent.
According to data that was recently released, its citizens experienced a massive drop of $1,272 deduction on its disposable income.
7. Canada
Average salary is approximately $32,662 per year
Canada is among the top developed countries in the world. It is also the world largest energy exporter. In addition to other minerals such as nickel, uranium, zinc, gold, etc., the Canadian government has vast gas and oil reserves, making its exports bring a substantial foreign income. Coupled with the domestic sector and other foreign income generating industries such as tourism, high productivity has made the country rank in the top 10 highest paying countries in the world. Canadians have an average annual income of $42,253, with 22.7 per cent compulsory deductions. The disposable income of its inhabitants dropped by $648 from the previous year.
8. Norway
Average salary of $31,101 per year
Norway is a capitalist state. It has a rich natural resource deposit of fish, forests, oil, hydropower, among other minerals. The government of Norway owns the largest stakes in most of the country’s key sectors. These have enabled Norway to be among the countries with the world’s best health care systems, among other social amenities.
The country also enjoys a low unemployment rate and a very high productivity rate. The country’s annual gross income is at $43,990, with a low deduction rate of 29.3 per cent.
The low deduction rate resulted to an increase in disposable income by $913 from that of the previous year.
9. South Korea
Annual average salary $31,051
South Korea comes 9th on the list of countries with the highest average salary rates. The average income for people working in South Korea is $31,051 per year—a drastic increase in the last couple of years.
10. Netherlands
Average Salary of $ 29269 per year
People living in the Netherlands enjoy a high salary rate that was approximately to be $47, 056. The country, however, has high compulsory deductions of up to 37.8%, which drops the disposable income by $544.
The Netherlands’ economy highly relies on the foodstuffs, tourism, chemicals, machinery, and electrical industries, not to mention its strategic geographical location sandwiched between English and German markets.
