An average individual working abroad may add up to $21,000 to his annual salary. This is according to a research which was commissioned by HSBC Expat.
YouGov surveyed 22,318 expats from 163 countries in March and April 2018. The survey revealed that 45% of the expats earned more for the same job abroad. 28% of the expats had moved overseas for a promotion.
Switzerland tops the list for the highest pay package. Expats got an average salary increase of $61,000 per year. The highest average yearly expatriate salary was $202,865.
The USA comes second with an average annual expat salary of $185,119.
Hong Kong follows in third place with $178,706.
China comes in the fourth place with average annual salaries being hiked from $134,093 in 2016 to $172,678 in 2018.
The USA and the UK were voted as the best destinations to get ahead in your career. The survey said that people working in the UK were most likely to learn new skills at work. The surveyed expats also felt that the USA and the UK also stretched the intellectual ability of the expats. However, two-fifths of the respondents felt that the fast-paced environment in these two countries was stressful.
Thailand topped the list for contentment. 53% of the respondents said that working abroad in Thailand has made them happier.
Foreign workers in Bahrain and New Zealand feel that the commute to work is shorter than their home country.
A new life in a new country could help you unlock your creativity. You may find the work-life balance that you have always craved for. You may also be able to steer your career in a new direction.
However, many expats working abroad found the first few months stressful, as per Business Insider. This was because they failed to put their finances in order before moving abroad.
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