Prices and Earnings
Indians might be known for their hard work but when it comes to their wages, they are paid nearly 20 times less than their counterparts in developed nations like the US and Switzerland. According to ‘Prices and Earnings’ study by Swiss banking major UBS, workers in New Delhi and Mumbai earn an average net salary of $1.6 and $1.2 per hour, respectively. In contrast, Swiss cities—Zurich and Geneva—have topped the charts with the highest average net incomes in the world of as much as $22.60 and $20.4 per hour. “Swiss workers earn the most. Zurich and Geneva top the rankings in our international comparison of wages. By contrast, the average employee in Delhi, Manila, Jakarta and Mumbai earns less than one-fifteenth of that amount,” the report stated. Workers in the US also earn at the higher end of bracket with people in New York earning an average salary of $19 per hour, while those in Los Angeles get $13.90 per hour. Workers in London receive an average net wage of $13.90 per hour, it added. In terms of the gross hourly wages, workers in Western Europe and North America have the highest gross hourly wages averaging at $20.2 and $21.0 respectively, the survey said.
Labels: Prices and Earnings UBS