Expatriates who work in Mumbai, India, are the highest-paid in the world, according to the survey conducted by HSBC Bank International, earning an average of US$217,165, more than double the world average of US$99,903, the survey found, according to multiple reports. The foreign employees who have chosen to settle in India's most populated city have received an average salary of 217,165 Dollars per year.
Among the developed countries, San Francisco reportedly emerged as the most lucrative city for expats with an average income of $207,227 followed by Zurich ($206,875) at the third spot.
Asian cities account for four of the top 10 when it comes to the largest expat pay cheques, the data also shows, with Shanghai in fourth place, with an average expat income of $202,211. Among the 21 cities where the salary was below this figure, Edinburgh secured the bottom rank with an average expat salary of just $56,250 (Rs 36 lakh) a year. In other words, Mumbai pays its expats the highest as compared to other cities in the world.
"The financial and technological centers in the U.S. and the United Kingdom are the most attractive for ambitious foreigners who want to push their career to the next level", said Dean Blackburn. The former is home to renowned banks including Credit Suisse Group AG and UBS Group AG while the latter is the base for some of the world's biggest commodities traders including Trafigura Group and Mercuria Energy Group. More than half of foreigners in Zurich say they live in better homes than in their homeland, despite high rents and property prices in the city.
The latest survey was completed by some 27,587 expats from 159 countries and territories, via an online questionnaire, in March and April of previous year, and was carried out for HSBC by YouGov.
Berlin and Prague come towards the bottom of the rankings, even though expats in these cities say that the cost of living is affordable.