Itโs one ๐ช๐บ labour market, but pays โฌ83k in one country and โฌ15k in another.
Factor in cost of living, and...
...the gap doesn't change.
Europe works like one labour market, but the same talent is paid very differently depending on where it is:
โ ๐ฑ๐บ: โฌ83k
โ ๐ฉ๐ฐ: โฌ71k
๐
โ ๐ฎ๐น, ๐ช๐ธ, ๐ต๐น: ~โฌ30k
โ ๐ฌ๐ท, ๐ง๐ฌ, ๐ท๐ด: ~โฌ18k
๐ Some workers in Europe earn US-level salaries.
Others earn salaries closer to top emerging economies: ๐ฒ๐ฝ, ๐จ๐ฑ, ๐ง๐ท
๐ฃ๏ธ: "You need to account for cost of living!"
โ ๐ฑ๐บ: โฌ83k / 78 = 1.06k
โ ๐ฉ๐ฐ: โฌ71k / 78.9 = 0.9k
๐
โ Southern Europe: ~โฌ30k / 53.9 = 0.56k
โ Eastern Europe: ~โฌ18k / 45.4 = 0.4k
๐ Even after adjusting, real earning power is still ~2x higher in top-paying countries.
So are we really convergingโฆ or just making it easier for companies to hire the same talent at very different costs across countries?
--
Source: Eurostat, OECD; Numbeo.