Real Cost-Of-Living
#1
Real Cost-Of-Living
Is it just me or are these COL indicators that I see showing how much more expensive London is compared to cities in Oz and NZ just a waste of time?
They all seem to use US$ and so don't take account of earnings relative to expenses at all.
This site seems to have the right idea as it uses PPP to compare:
http://www.yourcalculators.com.au/v1...D/compcost.htm
Its only by country, unfortunately, but seems more accurate to me based on the small amount of research I've done.
Basically it means you need to multiple your UK wage (after tax) by about 1.7 to get how much you should earn in Oz dollars (after tax) to have the same standard of living.
I would be nice to see world rankings based on this sort of data...
They all seem to use US$ and so don't take account of earnings relative to expenses at all.
This site seems to have the right idea as it uses PPP to compare:
http://www.yourcalculators.com.au/v1...D/compcost.htm
Its only by country, unfortunately, but seems more accurate to me based on the small amount of research I've done.
Basically it means you need to multiple your UK wage (after tax) by about 1.7 to get how much you should earn in Oz dollars (after tax) to have the same standard of living.
I would be nice to see world rankings based on this sort of data...
#2
BE Enthusiast
Joined: Oct 2004
Location: Berkshire
Posts: 360
Re: Real Cost-Of-Living
Originally Posted by fnord
This site seems to have the right idea as it uses PPP to compare:
http://www.yourcalculators.com.au/v1...D/compcost.htm
http://www.yourcalculators.com.au/v1...D/compcost.htm
Another interesting index is the Big Mac index - see:
http://www.economist.com/markets/big...ory_id=4065603
The Big Mac index, which we have compiled since 1986, is based on the notion that a currency's price should reflect its purchasing power. According to the late, great economist Rudiger Dornbusch, this idea can be traced back to the Salamanca school in 16th-century Spain. Since then, he wrote, the doctrine of purchasing-power parity (PPP) has been variously seen as a “truism, an empirical regularity or a grossly misleading simplification.�
#3
Just Joined
Joined: Jun 2005
Location: Glasgow, Scotland
Posts: 15
Q
Nice post and possibly really encouraging.
mq
mq
Last edited by mightyquinn; Jun 21st 2005 at 7:32 pm.
#4
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Q
Originally Posted by mightyquinn
Nice post and possibly really encouraging.
mq
mq
£40K is not unusual in the UK.
$72K is quite unusual in Australia.
G
#5
Joined: Jan 2005
Posts: 315
Re: Q
Originally Posted by Grayling
Encouraging
£40K is not unusual in the UK.
G
£40K is not unusual in the UK.
G
#6
Re: Q
Originally Posted by NKSK
It's unusual for me
CORKER
#7
BE Enthusiast
Joined: Oct 2004
Location: Berkshire
Posts: 360
Re: Q
Originally Posted by Grayling
£40K is not unusual in the UK. $72K is quite unusual in Australia.
I have come across too many jobs where the rate was roughly equivalent in sterling and dollars.
All well and good, perhaps, if you're going to Australia to downshift etc and have little or no mortgage, but as I've said before, I'd worry about my kids (to which the answer comes back that they'd have to come back to the UK for x number of years).
#8
Re: Q
Originally Posted by NKSK
It's unusual for me
Wife - Registered General Nurse (for 20 years) - 25,000 GBP p.a.
Hubby - Firefighter (3 years) - 22,000 GBP p.a.
#9
Re: Q
Originally Posted by Grayling
$72K is quite unusual in Australia.
#10
Re: Q
Originally Posted by micky
And for us
Wife - Registered General Nurse (for 20 years) - 25,000 GBP p.a.
Hubby - Firefighter (3 years) - 22,000 GBP p.a.
Wife - Registered General Nurse (for 20 years) - 25,000 GBP p.a.
Hubby - Firefighter (3 years) - 22,000 GBP p.a.
Hubby - net pay - 550 GBP fer fortnight - absolute p*sh IMHO.
Sorry folks, no pound sign on ma computer
TTFN Shona x
#11
Rocket Scientist
Joined: Aug 2003
Location: Dreamland AKA Brisbane which is a different country to the UK
Posts: 6,911
Re: Q
Originally Posted by Grayling
Encouraging
£40K is not unusual in the UK.
$72K is quite unusual in Australia.
G
£40K is not unusual in the UK.
$72K is quite unusual in Australia.
G
#12
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Q
Originally Posted by MrsDagboy
Yeah, but not for someone doing the same job G.
ie jobs do not seem to valued the same in both countries it obviously depends on personal circumstances.
I was making a statement about what are often portrayed as the usual wages.
G
#13
Rocket Scientist
Joined: Aug 2003
Location: Dreamland AKA Brisbane which is a different country to the UK
Posts: 6,911
Re: Q
Originally Posted by Grayling
You may be right but, from what I have seen, there does not seem to be any logical direct comparison.
ie jobs do not seem to valued the same in both countries it obviously depends on personal circumstances.
I was making a statement about what are often portrayed as the usual wages.
G
ie jobs do not seem to valued the same in both countries it obviously depends on personal circumstances.
I was making a statement about what are often portrayed as the usual wages.
G
Obviously its not always the same, there are hundreds of varaibles, but I do think that in many instances that its the case.
Wasnt there a poll last week or the week before comparing aussie & UK wages for those that have already moved? Did anyone notice the end result of that?
#14
Guest
Posts: n/a
Re: Q
Originally Posted by MrsDagboy
Wasnt there a poll last week or the week before comparing aussie & UK wages for those that have already moved? Did anyone notice the end result of that?
View Poll Results: As a percentage, what is your Oz salary compared to UK? (rate of £1=AUS$2.5)
2 - 7.7% - less than 50%
0 - 0.0% - 50% - 69%
11 - 42.3% - 70% - 89%
8 - 30.8% - 90% - 109%
4 - 15.4% - 110% -130%
1 - 3.9% - more than 130%
http://britishexpats.com/forum/showthread.php?p=2501617
View Poll Results: Are you happy with wage and lifestyle0 - 0.0% - Main wage is less than $500 pw and we are OK or happy with living standard
0 - 0.0% - Main wage is less than $500 pw and we are Unhappy with living standard
2 - 6.1% - Main wage is $501 to $750 pw and we are OK or happy with living standard
1 - 3.0% - Main wage is $501 to $750 pw and we are Unhappy with living standard
4 - 12.1% - Main wage is $751 to $1000 pw and we are OK or happy with living standard
2 - 6.1% - Main wage is $751 to $1000 pw and we are Unhappy with living standard
6 - 18.2% - Main wage is $1001 to $1250 pw and we are OK or happy with living standard
0 - 0.0% - Main wage is $1001 to $1250 pw and we are Unhappy with living standard
15 - 45.5% - Main wage is over $1250 pw and we are OK or happy with living standard
3 - 9.1% - Main wage is over $1250 pw and we are Unhappy with living standard
http://britishexpats.com/forum/showthread.php?p=1600450
#15
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: Q
Originally Posted by Grayling
£40K is not unusual in the UK.