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Disposable incomes ranked: How do UK salaries compare with other countries | Personal Finance | Finance


A study carried out by money.co.uk has exposed the top 10 countries with the highest disposable incomes in the world. As well as this, the financial experts have also revealed the top countries with the lowest disposable incomes compared with other countries. This research was carried out as part of money.co.uk’s Worldwide Wage Report, which took into account the different living costs and minimum wages provided by each country.

According to the group’s study, the UK falls short of reaching the top 10 which has seen incomes affected by rising taxes and bills.

Topping the list was France, with its country’s workers raking in £339.30 per month in disposable income.

For context, the average monthly cost of living per person in the country is relatively high at £1,198.26, with a minimum wage of £1,537.56.

The monthly minimum wage in France is the third highest in the world, while their average cost of living stands at 12th place.

READ MORE: Woman, 60, faces losing home due to Universal Credit cut

 

Rounding up the top three are Turkey and Poland, with each countries’ workers raking in £308.75 and £174.59 a month, respectively.

Turkish workers were found to have the lowest average monthly living costs in the top ten at £460.03.

However, this is offset by an extremely low income minimum wage in Turkey of £768.78 a month.

In comparison, Polish workers benefit from a monthly minimum pay of £1,008.24 for their services.

Among the notable additions in the top 10 were Belgium and Spain, which had average monthly disposable incomes of £148.05 and £131.84 for their workers.

Other countries which featured in the top list were South Korea, Slovenia, Australia, Lithuania and Hungary.

Of this group, South Korea was found to have the highest disposable income among its country’s workers at £168.67.

On the other end of the spectrum, Hungarian workers scraped into the top 10 with a monthly disposable income of £76.12.

The UK settled into 11th place on the ranked table of countries, with workers getting an average disposable income of £64.50.

Despite this disappointing figure, this amount is significantly higher than the global average of -£93.76.

On top of this, the UK was recognised as having one of the greatest monthly costs of living in the world at £1,334.43.

This figure is only slightly smaller than the country’s average monthly minimum wage of £1,398.93.

Money.co.uk also ranked the top countries with the lowest disposable incomes, with the United States of America topping that list.

American workers were found to have a monthly disposable income of -£637.63, while having to deal with living costs of £1,557.65 per month.

Israel was revealed to have the second highest deficit on the list at -£624.33 per month, while its workers receive a monthly minimum wage of £857.00.

Other countries which were ranked as having the lowest disposable incomes were Russia, Mexico and Chile.



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