Ireland revealed in top 10 countries for best work life balance (& working hours vs perks)

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Working less hours for more money can indicate a good place to work and a wealthier existence. So, where in the world has the best working environment and benefits?
A new study from Tipalti has looked into global work-related financial indicators to reveal the locations you get the best rewards for your hard work…
Top 10 countries for working hours vs rewards

Rank

Country

Average Annual Working Hours

Average Annual Salary

Combined Tax Rate (%/300)

Average Pension Assets Per Person

Total Score/10

1

Switzerland

1,590

$82,620

61.00%

$137,515

9.19

2

United States

1,757

$64,140

58.00%

$60,613

7.84

3

Iceland

1,493

$62,410

90.00%

$131,625

7.70

4

Norway

1,417

$78,290

85.00%

$9,205

7.64

5

Canada

1,696

$43,540

64.00%

$41,987

7.23

6

Australia

1,731

$53,680

85.00%

$68,807

6.96

6

Netherlands

1,430

$51,070

95.00%

$120,268

6.96

8

Ireland

1,746

$65,750

83.00%

$31,313

6.89

8

Luxembourg

1,519

$81,110

86.00%

$3,614

6.89

10

Denmark

1,400

$63,010

102.00%

$38,682

6.62

  • Switzerland is the highest-scoring country with a total wealth score of 9.19, more than 1 higher than second place, and over 4 higher than the average score of 5.02. Switzerland has the highest average annual salary, as well as the highest average pension assets per person.

  • The USA comes in second place as it achieved an overall score of just higher than 7.8/10. Americans enjoy an average salary of over $64,000 per year, and only have a combined tax rate of around 58%.

  • When it comes to the UK, it doesn’t place particularly high in any category. They are positioned 14 for working hours, just above Spain (average 6.50 daily working hours) and just below Finland. The UK has an average of 6.52 daily working hours (45.7 weekly). This daily average equals to an average daily income of £89 a day.

The research also reveals:
  • The country working the lowest average hours is Germany with an average of just a 5.29 hour working day, or a 37 hour working week. For this, workers in Germany receive an average €124 a day or €873 a week. The country with the highest average working hours is Mexico with a huge average 61.7 hour working week. The low average wages don’t reflect the hard work in this country.

  • Looking at average financial rewards overall, the locations with the highest wages include Switzerland, Luxembourg and Norway. Switzerland has the highest in the world with an average wage of €216 (£185) whereas the lowest average wage is in Colombia with an average daily wage of just £13 (or $16). Other countries with a shockingly low daily wage include Turkey, Costa Rica, Chile and Poland.

  • In terms of tax rates around the world, from looking at income tax, sales tax and corporate tax, all imposed on all 37 countries’ citizens, we can see that the country with the lowest combined tax rate is Hungary. Lithuania and the US are also in the top 3. On the other side, Denmark, Austria and South Korea are the top 3 locations with the highest tax rates.

  • Out of nearly 40 nations with available data, the average total pension assets was over $901 billion, with over $22,000 per person. Greece has the lowest average pension assets per person, whereas Switzerland has the highest average pension assets per person.