Workers Country By Country
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Photo: Getty Images Depending on country of residence, dramatic differences exist in the working lives of citizens from different nations. CNBC.com took a look at several major factors that can significantly affect the quality of work life - average income, income taxes, retirement age, average work week and average vacation days - over 22 select countries around the world to compare how these factors vary. The characteristics of a working life within a country also have an effect on the macroeconomic situation, such as the case in Greece, where less-stringent retirement age requirements are speculated to be a contributing factor to the country's faltering pension system. The data on average income is taken from the CIA World Factbook and is based on GNI per capita while income tax range* and average working week is from the OECD (unless otherwise noted). Average vacation days, which account for both government mandated vacation time and public holidays, are from Mercer Consulting. The statutory retirement age is data from AARP International (unless otherwise noted) and reflects the age in which citizens are eligible for full retirement benefits.** So, how does working life differ from country to country? Click ahead to find out! By Paul Toscano Posted 24 March 2010*Reflecting upper and lower limits of marginal statutory tax rates exclusive of any surtax and sub-central taxes for a single person listing no dependents. **For example, in the US individuals can retire at 62 but receive reduced benefits until they reach their full retirement age, which varies according to birth year. |
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Photo: Medioimages/Photodisc | Getty Images || Source: Bureau of Labor Statistics (Working Hours) Per Capita Income: $46,400 National Income Tax Range: 10%-35% Statutory Retirement Age: 65 Weekly Working Hours: 33.8* Vacation Days: 25** Pictured: Rush hour in Times Square in New York City, USA.*Average weekly hours and overtime of all employees on private nonfarm payrolls, seasonally adjusted, as of Feb 2010. **Includes typical vacation time of 15 days. There is no mandatory requirement in the US for number of vacation days. |
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Photo: Richard Ross | The Image Bank | Getty Images Per Capita Income: $34,200 National Income Tax Range: 0%-45% Statutory Retirement Age: 65 Weekly Working Hours: 35.5 Total Vacation Days: 30Pictured: Train pulling into station Alexanderplatz in Berlin, Germany. |
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Photo: Keren Su | The Image Bank | Getty Images || Source: Beijing Municipal Taxation Bureau (Income Tax), China Center for Labor and Environment (Retirement Age, Standard Work Week) Per Capita Income: $6,500 National Income Tax Range: 5%-45% Statutory Retirement Age (Men/Women): 60/50* Weekly Working Hours: 44 Vacation Days: 21 Pictured: Traffic on Changan Avenue during rush hour, Beijing, China.*Statutory retirement age varies in China, depending on working conditions; Statutory retirement age can be 5 years earlier if an individual has lost the ability to work. If an individual has participated "in the revolution for over 10 years" male workers may retire at 50, while female workers may retire at 45, according to the China Center for Labor and Environment |
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Photo: Ross M. Horowitz | Iconica | Getty Images Per Capita Income: $38,400National Income Tax Range: 15%-29% Statutory Retirement Age: 65 Weekly Working Hours: 36.5 Vacation Days: 19Pictured: Rue Saint-Paul, Montreal, Quebec, Canada. |
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Photo: Grant Faint | Photographer's Choice | Getty Images Per Capita Income: $35,400 National Income Tax Range: 20%-40% Statutory Retirement Age (Men/Women): 60/55 Weekly Working Hours: 37 Total Vacation Days: 36Pictured: Piccadilly circus, London, UK. |
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Photo: Angelo Cavalli | Photodisc | Getty Images Per Capita Income: $32,100 National Income Tax Range: 27%-40% Statutory Retirement Age: 65* Standard Work Week: 42.4 Vacation Days: 37 Pictured: The Plaka District in Athens, Greece.*At the time of this writing, the Greek government identifies 580 job categories that are considered "hazardous" and allow for retirement with full benefits at the age of 50 for women and 55 for men. Click here for more details. |
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Photo: DJA | amana images | Getty Images || Source: Global Property Guide (Income Tax), Mercer Consulting (Retirement Age) Per Capita Income: $27,700 National Income Tax Range: 8%-35% Statutory Retirement Age: 60 Weekly Working Hours: 46.6 Vacation Days: 34 Pictured: Namdaemun Market, Front View, Seoul, Korea. |
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Photo: Scott R Barbour | The Image Bank | Getty Images Per Capita Income: $36,200 National Income Tax Range: 5.48%-26.48% Statutory Retirement Age: 65 Standard Work Week: 35.2 Vacation Days: 34Pictured: People on harbour at outdoor cafes in Copenhagen, Denmark. |
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Photo: Werner Dieterich | Photographer's Choice | Getty Images Per Capita Income: $42,200 National Income Tax Range: 20%-41% Statutory Retirement Age: 66Standard Work Week: 36 Vacation Days: 29Pictured: Pubs and restaurants in the Temple Bar quarter in Dublin, Ireland. |
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Photo: Will & Deni McIntyre | The Image Bank | Getty Images || Source: Inland Revenue Authority of Singapore (Income Tax), Singapore Ministry of Manpower (Work Week) Per Capita Income: $50,300 National Income Tax Range: 3.5%-20%* Statutory Retirement Age: 55 Standard Work Week: 46 Vacation Days: 25 *For Singapore tax residents, depending on the amount they made during the year, taxes are calculated on a flat rate for a the first portion of their income, while a second portion of chargable income is calculated on a percentage. For example, an individual making $70,000 per year would be charged $900 in income taxes for the first $40,000, while the remainder of their income is taxed at 8.5%. |
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Photo: Travelpix Ltd | Getty Images Per Capita Income: $33,700 National Income Tax Range: 15.66%-27.13% Statutory Retirement Age: 65 Weekly Working Hours: 39.2 Vacation Days: 36Pictured: Pavement cafes in Plaza Mayor, Madrid, Spain. |
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Photo: Franz Aberham | Digital vision | Getty Images || Source: Statistics Iceland (Vacation Days), PriceWaterhouseCoopers (Income Tax) Per Capita Income: $39,800 National Income Tax Range: 0%-37.2% Statutory Retirement Age: 67 Average Weekly Hours Worked: 41.1 Vacation Days: 27 Pictured: Bathers at The Blue Lagoon, Reykjanes, Iceland. |
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Photo: Allan Baxter | Photographer's Choice | Getty Images Per Capita Income: $17,800 National Income Tax Range: 19%-40% Statutory Retirement Age (Men/Women): 65/60 Standard Work Week: 41.1 Vacation Days: 36 Pictured: Wawel Cathedral in Krakow, Poland. |
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Photo: Jerry Kobalenko | Photographer's Choice | Getty Images || Source: (Income Tax) Confederation Fiscale Europeene Per Capita Income: $15,200 National Income Tax: 13% (30% for Non-residents) Statutory Retirement Age (Men/Women): 60/55 Weekly Working Hours: N/A Total Vacation Days: 40 Pictured: Nevsky Prospect in St. Petersburg, Russia. |
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Photo: Renaud Visage | Digital vision | Getty Images Per Capita Income: $21,700National Income Tax Range: 10.5%-42% Statutory Retirement Age: 65 Average Weekly Hours Worked: 39 Vacation Days: 35Pictured: Rua Garrett at night in Lisbon, Portugal. |
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Photo: joSon | Getty Images Per Capita Income: $32,600National Income Tax Range: 5%-40% Statutory Retirement Age: 65 Weekly Working Hours: N/A Vacation Days: 36Pictured: Pedestrians near the Torri gate in Miyajima, Hiroshima, Japan. |
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Photo: Scott E Barbour | Photographer's Choice | Getty Images Per Capita Income: $38,500 National Income Tax Range: 0%-45% Statutory Retirement Age (Men/Women): 65/62.5 Weekly Working Hours: 36.6 Vacation Days: 28 Pictured: Tram and Flinders Street Station at dusk, Victoria, Melbourne, Australia. |
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Photo: Macduff Everton | The Image Bank | Getty Images || Source: (Income Tax) Receita Federal Per Capita Income: $10,200 National Income Tax Range: 0%-27.5% Statutory Retirement Age (Men/Women): 65/60 Weekly Working Hours: N/A Vacation Days: 41 Pictured: Body boarders and sunbathers at Ipanema Beach, Rio De Janeiro, Brazil. |
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Photo: Maremagnum | Photographer's Choice | Getty Images Per Capita Income: $30,200 National Income Tax Range: 23%-43% Statutory Retirement Age (Men/Women): 65/60 Weekly Working Hours: 38.3 Vacation Days: 31Pictured: Piazza Navona, Fountain of four rivers in Rome, Italy. |
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Photo: DreamPictures | Getty Images || Source: India Department of Income Tax (Income Tax) Per Capita Income: $3,100 National Income Tax Range: 0%-30%Statutory Retirement Age: 58 Weekly Working Hours: N/A Total Vacation Days: 28 Pictured: Mumbai, India. |
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Photo: Matti Niemi | Gorilla Creative Images | Getty Images || Source: Finnish Centre for Pensions (Retirement Age) Per Capita Income: $34,900 National Income Tax Range: 0%-31.5% Statutory Retirement Age: 59 Standard Work Week: 37.6 Vacation Days: 40 Pictured: People walking in front of Lasipalatsi Film And Media Centre in Helsinki, Finland. |
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Photo: Peter Phipp | Photographer's Choice | Getty Images Per Capita Income: $32,800 National Income Tax Range: 0%-40% Statutory Retirement Age: 60 Weekly Working Hours: 38 Total Vacation Days: 40 Pictured: Cafes on the Champs Elysee in Paris, France. |
© 2012 CNBC.com
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