Grasping country differences in pay allows multinationals to manage workforce compensation globally. Compensation practices like mandated salary increases add to the complexity.
An international comparison by UBS of purchasing power in 73 cities worldwide named Oslo, Copenhagen, Zurich and Geneva the world’s most expensive cities, while wages are highest in Switzerland, Denmark and the US.
Asian and European cities still dominate the most expensive cities for expats, despite major reshuffling in the ranking caused by currency fluctuations, according to survey.
Geneva, Zurich and Basel remain in the top 10 most expensive cities for expat workers, according to a new survey.
Expats, who deal with multiple economies and currencies, are particularly affected by the current financial crisis. Monique Neijzen of AIRINC offers HR professionals some advice on how to handle expat compensation in these troubled times.