We often come across customers who are excited about global hiring and are raring to go, but are stumped by an important question. How much salary should they offer to their international talent?
How do you decide the salary of an employee in Spain considering income differences, cost of living and taxes? How do you come up with a number that’s fair to both your business and the talent? And how do you determine the salary differences between employees in the same position but in different countries?
We hear you, and we have two useful tools that can help you decide the salary of your new talent abroad and make competitive offers that make sense to them and your business.
#1: Salary recommendation
If you already have an open position and would like to see average salary ranges in various countries, this tool can help you get an instant overview. Simply enter the country, select the designation from the drop down menu and click on ‘Find salary’
The results will show you the recommended average salary for your selected position.
Not only will you see the recommended average salary, you will also see the minimum, median and maximum.
#2: Net Salary Calculator
This tool allows you to:
- Calculate the net salary in a country
- Compare it with the net salary in another country (when paying the same salary and in the same currency)
- Calculate and compare the net salary in the following three currencies: Euro (EUR), United States Dollar (USD) and Pound Sterling (GBP)
In the example below, let’s compare the salary of a person living in Portugal earning 70,000 euros gross annual salary to a person earning the same gross annual salary but living in South Africa:
Click on “Calculate net salary” and you will see the results. Based on a ton of background data, our tool synthesises net salaries instantly and gives you a comparison of hiring costs in both countries. This ensures that your international team members are paid equitably wherever they are located.
The differences in salaries are because of the taxes and social security deductions in the respective countries. We currently have ten countries available, but we’re going to keep adding more in the future.
Would you like to give it a whirl?
Our team is ready to help you create the best hiring strategy for your team. If you’d like to understand how these tools work in more detail, book a guided demo here.