Certainly my salary as an O-5 (wing commander,
> lieutenant-colonel, commander (naval)) was higher than my USAF
> equivalent's 5 years ago. In addition, my specialisation pay
> ("flying pay") was (and still is) higher.
That is quite a surprise.
My son earns around
> GBP18,000 ($31,000) as a university graduate of 2 years' standing
> with a utility company; we think that he is worth about 20% more, but
> I have a feeling that that is about the going rate.
That seems low by uur standards, but not knowing his area, it is a little
hard to say.
However, ex-
> students of mine from prestigious universities in London (such as
> London School of Economics or Imperial College) are being tempted
> into trading positions with salaries of twice that. But that sort of
> job does not hold you for long -- too long hours, no windows, no
> women ;-).
Salary much higher here.
> My gut feeling is that your middle salaries are slightly lower, but
> your lower salaries are higher; finally, your higher salaries are
> much, much higher.
>
> [equally a generalisation ... ;-)]
Some lower salaries are coming up, due to competition. Here, fast food
resturants may have to pay over $10/hr. to get people to work there.
Remember, though, you have greater benefits. The seemingly well paid worker
at McDonalds or WalMart probably gets no medical insurance, retirement from
Social Security only (not enough to live comfortably), and little time off.
And, in general as reported in US media recently, we work quite a few more
hours and take less vacations than you. American productivity is now among
the highest in the world, but not because of any special thing about the
workers other than a willingness to work longer hours and take less time
off.
A year or so ago, the local paper sent a reporter and photographer to
several Boeing subcontractors in Europe. The factory worker in Itlay made
about $12,500 per year, while the same worker in the US doing exactly the
same job makes about $55,000!
Having been to Italy I can assure you the Italian worker is happier.
Bill Pearce
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