There’s nothing more important to workers than the pay they receive for their hard work and dedication. However, the amount of compensation we receive for the hours we put into our jobs can vary quite considerably, changing from job to job, location to location and also from year to year.
There are many factors that determine the level of pay we receive. For example, larger companies can often pay their employees more than smaller companies because they can achieve much greater efficiencies, such as by using ap automation software and streamlining processes. Other factors could include inflation rates, the demand for your skillset, and the performance of your company, though the state or country where you work can often have the biggest impact.
As our pay can vary so much based on location, we’ve carried out a study to uncover which parts of the USA, and which OECD nations, offer their workers the highest average salaries. We’ll also track the wage growth seen in each of these areas over the last 10 years, and will use this data to predict what our wages could look like in another 10 years’ time.
In this section we will focus on differences in the average salaries received across the 50 states in the USA. This will allow us to see which parts of the country have the best paid workers, as well as where salaries are growing the fastest.
New York has the highest average wages in the USA at $88,035. New York City is one of the most diverse and busiest cities on the planet, and is home to a huge number of businesses that in turn means a large number of high-paying jobs in the area.
Massachusetts has the second highest average wages in the United States at $87,752. This New England state is home to some of the most prestigious university colleges and research institutions in the country, including Harvard and M.I.T., making it a great place for attracting some of the top graduates.
As such, Massachusetts is home to a high number of businesses in the tech, healthcare and finance sectors, mostly centered around Boston, that all offer their employees excellent salaries and benefits.
California has the third highest average wages in the country at $85,741. Home to the world-famous Silicon Valley, California one of the top locations in the country for tech startups which, combined with the great weather in the state, attracts top talent from all over the globe. California is also home to Hollywood and much of the country’s entertainment industry, giving the already booming economy another pillar to stand on.
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In this section we will focus on differences in the average salaries received across the 50 states in the USA. This will allow us to see which parts of the country have the best paid workers, as well as where salaries are growing the fastest.
Washington had the highest wage growth since 2011 at an impressive 64.11%, meaning that workers in the state are much better off on average than they were 10 years ago.
California took second place with a 10 year wage growth of 55.86%, meaning both of the top two states for income growth are on the West coast.
In third place is New Hampshire, where wage growth was just a few percentage points below California at 52.41%, which still means workers are far better off than they were in 2011.
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In this section we will focus on differences in the average salaries received across the 50 states in the USA. This will allow us to see which parts of the country have the best paid workers, as well as where salaries are growing the fastest.
Washington is projected to be the state with the highest average wage in 2031 based on the past 10 years’ wage growth, which would see workers taking home $135,56 in annual salary. Average wages in Washington are currently the fourth highest in the country at $82,477, but the state’s high wage growth rate could see them skyrocket in the decade to come.
California could have the second highest wages in the country by 2031 if we see wages continue to grow as they have, with workers in the state predicted to be taking home $133,362 on average in 10 years’ time.
Massachusetts is forecast to have the third highest average wages in the country by 2031, based on wage growth in the last 10 years. This would see the average wage in the state rise to a huge $129,048 per year.
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Having looked at the breakdown of average salaries and wage growth in the United States, we now turn our attention to the international stage. Here we can compare average wages at the national level, looking at how much people earn across the developed countries of the OECD.
Which countries pay their workers the highest wages? And where in the world are salaries rising the fastest?
Switzerland has the highest average wages in the world at $91,852, or CHF 89,767 (Swiss Francs). Switzerland is a notoriously expensive place to live with salaries to match and has long been an international banking hub attracting investment from all over the globe.
Iceland has the second highest average wages in the world at $81,844, or kr. 11,705,368 (Icelandic Krona). Iceland is another example of a country with a high cost of living coupled with very high living standards and equally high salaries.
The United States has the third highest average salaries in the world at $74,738, which is more than $5,500 higher than fourth place Luxembourg.
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Having looked at the breakdown of average salaries and wage growth in the United States, we now turn our attention to the international stage. Here we can compare average wages at the national level, looking at how much people earn across the developed countries of the OECD.
Which countries pay their workers the highest wages? And where in the world are salaries rising the fastest?
Latvia saw the highest wage growth in the OECD over the last 10 years with annual earnings more than doubling to 103.88% more than they were in 2011. This huge increase in earnings makes Latvia a lucrative place for workers to grow their income while making the most of a relatively low cost of living.
Lithuania saw the second highest increase in annual earnings over the last decade, with wages growing by as much as 95.46%. The majority of work for expats in the country can be found in the capital of Vilnius and the large city of Kaunas in south-central Lithuania.
The OECD country with the third highest 10 year wage growth is Estonia, where earnings have increased by a considerable 88.45%. Estonia taking third place, only being beaten by Latvia and Lithuania, shows that the Baltic states have been a hotbed of economic growth in which workers have been able to share in the region’s success.
If this Baltic wage growth continues into the next decade, these three countries could be a highly attractive proposition for any expat worker or digital nomad.
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Having looked at the breakdown of average salaries and wage growth in the United States, we now turn our attention to the international stage. Here we can compare average wages at the national level, looking at how much people earn across the developed countries of the OECD.
Which countries pay their workers the highest wages? And where in the world are salaries rising the fastest?
Iceland is the country that, should the past decade’s wage growth be replicated in the coming 10 years, will have the highest average wage by 2031 at $143,824.
The United States takes silver with the second highest predicted average wage for 2031 at $103,722, one of only two countries where this figure exceeds $100,000.
Switzerland has the third highest predicted annual wage for 2031 at $95,417, making it the highest-earning country in mainland Europe.
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The job we do is the biggest determinant of how much pay we receive, with some roles earning far more than others. In this section we will look at the average salaries of 50 different jobs across six English-speaking countries from around the world.
Could you be earning more for your work in another country? Find out just how competitive your pay is compared to others in your field, both in your own country and abroad.
The job we do is the biggest determinant of how much pay we receive, with some roles earning far more than others. In this section we will look at the average salaries of 50 different jobs across six English-speaking countries from around the world.
The job we do is the biggest determinant of how much pay we receive, with some roles earning far more than others. In this section we will look at the average salaries of 50 different jobs across six English-speaking countries from around the world.
However, not all professions offer the highest salaries in the United States as the demand for work can vary by speciality and location to drive up earnings in different parts of the world.
As many as 11 of the 50 professions in our study offered their highest salaries in Australia. These are mostly mid-earning roles such as project managers, HR managers and school teachers, as well as numerous low-paying roles such as waiters, labourers and security guards. New Zealand also offered the highest salaries for copywriters and recruiters, while Canada offered the highest earnings for psychologists.
Neither the United Kingdom or Ireland offered the highest salary for any of the 50 professions in our study, indicating that salaries in the British Isles are much lower than in other parts of the English-speaking world.
Here we can see which jobs had the highest average annual wage across all six English-speaking countries in our study.
The highest earning profession across all six English-speaking countries is psychiatrist, with these individuals earning on average a whopping $154,800.
Dentists have the second highest average earnings at $109,083, making them the only profession aside from psychiatrists to average more than $100,000 in earnings.
Optometrists earn the third highest amount on average with wages of $82,009. This means that all three of the top earning professions are related to healthcare, both mental and physical.
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