Bankers considering a career abroad might want to take a look at the latest survey of prices and earnings in 56 cities around the world conducted by Union Bank of Switzerland.
Tokyo, Oslo, Zurich, Singapore, and London were the most expensive cities in the world to live in. Johannesburg, Prague, Istanbul, and Bombay, India, were the least expensive.
On average, the highest-paid employees are in Zurich and the lowest paid in Nairobi, Kenya. Employees in Asia put in the most hours per year, averaging 2,149; those in Europe put in the fewest, 1,773.
Expatriates lucky enough to be posted to Frankfurt or Berlin can count on 30 days of vacation per year. Those unlucky enough to be posted to New York, Bangkok, and Shanghai can count on the fewest of vacation days.
The UBS survey also noted that there are broad variations in prices for different goods and services, with high rents jacking up the overall cost of living in many Asian countries. Costs are also rising quickly in cities like Nairobi, Caracas, Venezuela, and Sao Paulo, Brazil, mainly as a result of inflation and exchange rates, the report added.