For employers evaluating international hiring opportunities, salary is often the first number examined. But according to a new study comparing employment costs in major U.S. and European markets, salary may be only part of the equation.
Research conducted by Payoneer Workforce Management found that employer-side obligations such as payroll taxes, social security contributions, pension funding requirements, healthcare-related payments, and other statutory costs can substantially alter the total cost of employment depending on where a worker is located. The study examined six U.S. cities and six European cities using both a standardized salary benchmark and local-market compensation data.
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