{ "media_type": "text", "post_content": "So reading up on salary threads.......why does it seem as if the EY US gets paid double the EY UK salary? For context, London graduate starting salary in Advisory is roughly £32k and our minimum tax is 20%. ", "post_id": "5eb32cd52a6c640024cd5a72", "reply_count": 20, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

So reading up on salary threads.......why does it seem as if the EY US gets paid double the EY UK salary? For context, London graduate starting salary in Advisory is roughly £32k and our minimum tax is 20%.

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USA #1 🇺🇸

likefunnyuplifting

The way someone explained it to me was this: In the UK, and several European countries, salaries are less but people are taken care of via social programs vs Americans who get stuck with paying out of their salaries for thinks like medical insurance copays/premiums/deductibles, saving for retirement, paying off student debt etc. all while STILL paying 20%+ in taxes (depending on the state)

likesmart

COL is lower on average across the US cities vs the UK to my knowledge. To match the purchasing power of a US entry level consultant salary in the Big 4, you need to reach M level in the UK more or less. Nevertheless, money is not such a big thing in Europe as in the US so people are not necessarily having a bad life due to having less of it.

USA numba 1

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This is true across the board for the UK in almost every industry. Your labor market is not as competitive.

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Haha, me neither. But just the sheer amount of low paid openings is overwhelming. I find UK employees being on par with rest of Europe in terms of skills, maybe with the exception of Switzerland where there are more $ but the bar is also higher.

Ex-pats want to work in London. Supply/demand.

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NY tax is roughly 35% if that makes you feel better. Starting salary is $75 k.

Supply/demand as mentioned and also GDP/capita difference. The US is just a much richer country than the UK - not even comparable.

Working hours and less holiday days in the US.

*#1 in hours worked *#1 in least time off

US consulting market very different to UK. And everyone in the US had all that debt from education...

#1 in student debt!

Student debt

US salaries (especially in NYC or SF) are typically 50-100% more for the same position than all other 1st world countries.

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