Ever wonder how far a six figure income would go if you lived in certain places in the world? The Business Insider took some time to tally the results. The following information is what they discovered.
A six-figure income in US dollars means one thing to New Yorkers and another thing to Muscovites. For instance, a resident in Moscow pays 13% of their salary to the government. However, the cost-of-living is also around 55% cheaper. That translates to a take-home pay of $130,000 annually for the Muscovite and about $62,000 for the Big Apple resident.
If you live in Zürich, Switzerland and, say, work as a junior executive at Zurich Financial Services, you will turn an income of 100,000 USD into $12,000 USD in this part of the world. That figure is based on paying 30% of your salary in to the government in taxes and a cost-of-living rate that is 83% higher than the US. However, you would be able to afford real estate in the form of a 2.5-bedroom apartment featuring 482 square feet of living space in an exclusive community.
If you earn $100,000 in US dollars in Berlin, the government would claim about 46% for taxes. The cost of living in this part of the world is 29% higher than it is in the US. You’d bring home about $38,000 USD. The real estate you could a 1,300 square foot 2-bedroom apartment in the suburb of Glienicke Nordbahn.
If you choose to make $100,000 USD in Paris, the government would take 39% of your salary in taxes. The cost of living is almost 30% higher than it is in the US. Post-tax adjusted income hovers around $43,000 USD. With this income, you can afford a 221 square foot studio on the 6th floor of an apartment building. Featuring a wood-burning fireplace, the home is located in the heart of the city.
In Sydney, your $100,000 USD salary, would provide the government with 40% in taxes. The cost of living is about 11% higher than it is in the US. The post-tax adjusted income is about $53,000 USD. With that amount of money, you can afford a 270 square foot studio, located in the city’s central business district.
A $100,000 USD salary in Toronto would supply the government with 38% in taxes. The cost of living in this Canadian city is about 13% higher than it is in the US. You would bring home about $54,000 USD. With this income, you can afford a furnished one-bedroom apartment with maid service that is approximately 550 square feet in size. The apartment is located in the city’s financial district.
Tel Aviv, Israel
With a $100,000 USD salary in Tel Aviv, you would pay 43% of your income in taxes. The cost of living is just over 4% higher than in the US. Therefore, the post-adjusted income is about $55,000 USD. With this amount of money, you can afford to live in a 4-bedroom hideaway in the downtown section of Tel Aviv. The real estate includes a landscaped yard and fireplace.