Moving to another job destination and do not know the cost of living? Well, don’t oppress yourself. Here, the personal salary calculator report does the cost of living comparison for you. Cost of living comparison is immensely of paramount importance for expats who move to destination country to take up work assignments. Cost of living is considered as the monetary cost of maintaining ones standard of living.
It is generally measured by calculating the average cost of a number of goods and services. It Is imperative to measure the cost of a minimum standard of living in any city so as to determine the minimum salary required to maintain the standard of living. It also measures the differences in cost of living between geographical locations in terms of purchasing power parity rates. The cost of living is prepared and published by the Economist Intelligence Unit bi-annually. This survey helps many candidates who are willing to relocate to other parts of the country to compare their compensation with destination country. This sounds so informative that one can compare the prices of above 160 products and services in 140 cities worldwide. This is equally beneficial for employers who send their employees overseas due to client assignments and oblivious of the prevailing cost of living indices, cost of living calculator plays its role This way employers don’t miss cashing on with sending the potential employees overseas and abilities to design a lucrative compensation package for them.
Perhaps relocation is not that painless but with duly preparation before you fly to destination country, can significantly lessen the burden. Since there can be huge differences in prices of commodities and services in destination city or country, the cost of living calculator is a unique tool that accurately tells you the minimum salary or allowances required for expats. Furthermore, this works as an empowering tool that lets expats negotiate a higher salary to enjoy a better standard of living.
According to the recent survey published by EIU, Tokyo topped the list of ‘World’s most expensive cities for expatriate employees’. One of the published fact says, a cup of coffee in Moscow can cost $8.29 compared to $1.54 in Managua, Nicaragua. Nevertheless, worldwide salary calculator gives you access the cost of living facts and information from the prices of food to utility bills across 140 cities.