Related Posts
McKinsey & Company I received an offer from McKinsey & Company in 2021 and I’ll be starting later this year after graduation. Obviously because of the pandemic, inflation is slowly trending upwards. Has anyone asked for a base salary increase before even starting the job? Any advice on how to approach this?
More Posts
What are your favorite recipes with ground beef?
Conversation Starter
Please help me with the in hand salary
"She's like 30, but doesn't look super old"
How are the annual hikes in CBA , TIA ?
Additional Posts in Compensation in Consulting
ZS first year manager salary for east coast?
Conversation Starter
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Dental care
Lol I mean, that would make sense 😂
Because other developed countries offer more benefits and government subsidies than does the United States. The UK receives free healthcare at a cost of reduced wages. The United States gives you cash so you have greater flexibility to spend it how you please.
Canada will pay 2/3rds what the US pays, because Canada will have more generous paid parental leave benefits than the US (among other benefits). Consider you’re a fresh college grad with student loans and your salary is 2/3rds what it is here because you have to subsidize the generous benefit received by parents (even though you yourself has no desire to have kids).
We don’t implement as many of these policies because on average as a whole, the United States is more individualistic and all about “me me me” instead of the collective good, taking care of your elders etc.
France has 35 hour workweeks and shuts down for 2 months in the summer, but only makes like 55-60% of what they do here in the US. Nobody is saying France is dumber than the US or less productive. In fact they’re smarter, and probably equally as productive for an hour worked (I’m assuming), but just work fewer hours. You can look at each country’s cost of labor employment index for dollar of benefit per hour worked and see the countries offering the higher $ per hour have much more stringent labor protection laws and benefits for workers.
It’s like the value of a consultant is $100k. The US will pay 95k salary and $5k in benefits. France will give $55k in salary and 40k in benefits / time off. Overall, France may be slightly behind in total comp, but from an all in perspective, is close to comparable. Make sense?
Agree with M1. It’s more about the economy being stronger and the labour economy than the system of social benefits.
Switzerland is a good example. Still high taxes, high social benefits but also very high wage. Why, because of how strong the economy is and the labour market.
The value of service is valued at a premium in the US compared to the UK. Firms and organizations in the United States are willing to pay more than in the UK hence why we have higher salaries.
It’s actually depressing tbh. I want to live abroad for a bit but I feel like it would set me back, in more ways than one.
Worked for big 4 in both countries. In UK You don’t work nearly as hard, hardly travel, have rights as worker, no stress about insurance and no car expense. Moving to the US to experience life here was the best move I made because it’s something different don’t let a little salary difference hold you back. I did get a big raise but I haven’t saved much more than I did when I was working in London.