Cost of Living Paper
Cost of Living Paper
The cost of living in five different countries and the affect on the way payroll would be done implemented each country for managers that were sent there to manage the company in each country. The five countries chosen are China, Mexico, Canada, Philippines, and France.
China cost of living according to www.englishfirst.com in China is * Gross Income (Salary) : 12,350 RMB,=$ 1,938.95 USD * Rent : 3500 RMB = $549.50 USD * Utilities (electricity, gas, water) : 250 RMB= $39.25 USD * Phone & Internet : 300 RMB = $47.10 USD * Food : 1500 RMB = $235.50 USD * Insurance : 295 RMB = $46.32 USD * Remaining Disposable Income : 6,505 RMB = $1021.29 USD
This would affect the way payroll would be done due to the fact the average person gross income is only .157 of what people in the United States makes. HRM would have to take into factor the cost of living is less and the gross income is a lot less than in the USA. You do not want to overpay for labor. Payroll would also have to be paid n RMB not USD.
Mexico cost of living according to [ (www.worldsalaries.org) ] is * Gross Income (Salary) : $37,752 Current Pesos = $6,143 USD * Rent : $2,974 Current Pesos = $484 USD * Utilities (electricity, gas, water): Included in housing cost. * Phone & Internet : Not Available * Food : $5,083 Current Pesos = $827 USD * Insurance : $533 Current Pesos = $ 87 USD * Remaining Disposable Income : $ 29,162 Current Pesos = $4,745 USD
Mexico has a very low cost of living. They have other expenses like clothing education and other things that are not included in these figures. The cost of living in Mexico will affect the way business is done with the USA is that there pay is not in USD it is in the Current Pesos. This would make it so you have to convert the cost of living into USD like done above. The pay rate annually in USD is lower than the average American. Your pay scale could be much lowers
The cost of living in five different countries and the affect on the way payroll would be done implemented each country for managers that were sent there to manage the company in each country. The five countries chosen are China, Mexico, Canada, Philippines, and France.
China cost of living according to www.englishfirst.com in China is * Gross Income (Salary) : 12,350 RMB,=$ 1,938.95 USD * Rent : 3500 RMB = $549.50 USD * Utilities (electricity, gas, water) : 250 RMB= $39.25 USD * Phone & Internet : 300 RMB = $47.10 USD * Food : 1500 RMB = $235.50 USD * Insurance : 295 RMB = $46.32 USD * Remaining Disposable Income : 6,505 RMB = $1021.29 USD
This would affect the way payroll would be done due to the fact the average person gross income is only .157 of what people in the United States makes. HRM would have to take into factor the cost of living is less and the gross income is a lot less than in the USA. You do not want to overpay for labor. Payroll would also have to be paid n RMB not USD.
Mexico cost of living according to [ (www.worldsalaries.org) ] is * Gross Income (Salary) : $37,752 Current Pesos = $6,143 USD * Rent : $2,974 Current Pesos = $484 USD * Utilities (electricity, gas, water): Included in housing cost. * Phone & Internet : Not Available * Food : $5,083 Current Pesos = $827 USD * Insurance : $533 Current Pesos = $ 87 USD * Remaining Disposable Income : $ 29,162 Current Pesos = $4,745 USD
Mexico has a very low cost of living. They have other expenses like clothing education and other things that are not included in these figures. The cost of living in Mexico will affect the way business is done with the USA is that there pay is not in USD it is in the Current Pesos. This would make it so you have to convert the cost of living into USD like done above. The pay rate annually in USD is lower than the average American. Your pay scale could be much lowers
Cited: unknown. (n.d.). www.englishfirst.com . Retrieved 12 7, 12012, from English first teaching jobs : http://www.englishfirst.com/trt/cost-of-living-in-china.html www.worldsalaries.org. (n.d.). Retrieved december 6, 2012, from world salaries : www.worldsalaries.org