That was a key conclusion of a new survey from consultant Hay Group, according to a press release.
The announcement said the survey found American managers are ranked 24 th in the world pay league table of 46 countries, with a buying power equivalent to an average salary of $104,905 when tax and cost of living are taken into account.
Saudi Arabia and the United Arab Emirates rank at the top of the list, with average salary buying power of more than $220,000.
Not only that, according to the survey, but managers In emerging economies such as Russia, Turkey and Mexico are enjoying far higher levels of buying power for their pay than their US counterparts and those in other developed markets with an effective average salary of more than $150,000, the study found. Switzerland, Germany and Ireland are the only European countries to make it into the top 20 for management buying power.
“Companies are operating in an increasingly open and competitive global economy, and emerging markets are offering managers higher disposable incomes than established countries – which is making these locations an attractive prospect for management talent,” said Iain Fitzpatrick, Director Reward Information Services for Hay Group North America, in the announcement. “This makes sobering reading for companies in Western Europe and the US, who face not only local competition for managerial talent, but an increasing threat from buoyant new economies.”
After Saudi Arabia and the United Arab Emirates, Hong Kong ranks third, with pay buying power equivalent to $203,947.
The study found that the UK is ranked 40th in the management pay rankings while Germany is placed 9th, with France 31st, and Italy 28 th .
Spain , where the cost of living is lower, took the 12 th spot with disposable incomes of around $128,197.
More information is at www.haypaynet.com .