...according to the unpublished working paper (PDF)
Why would Bloomberg release this as news?
Americans Work 25% More Than Europeans, Study Finds
31–40 of 405 posts
Re: Americans Work 25% More Than Europeans, Study Finds
#32I find it astonishing how positive Bloomberg tries to spin this:
People earn a wider range of incomes in the U.S., so “workers have an incentive to try harder to move up the job ladder because a promotion is worth more,” said Dora Gicheva
-The income range in the US is so large that there are lots of people at the bottom end who have to work multiple jobs. How much does that have to do with the longer work hours, Bloomberg?
Generous pensions in Europe are also a strong factor in discouraging older people from working, the study said. In the U.S., more people over 65 are working than at any point in the past 50 years. The U.S.’s shift from traditional pensions to 401(k) plans makes it harder for Americans to know when it’s safe to retire.
-This sounds less like people in Europe are "discouraged" from working, rather than many Americans must work longer because they can't retire.
Edit: Formatting
Re: Americans Work 25% More Than Europeans, Study Finds
#33Earlier quoted context omitted.
Because European governments take a lot more out of your salary before it reaches you in exchange for social services (pensions, healthcare, etc). Unlike America where you are expected to either drop a stack of bills just to see the doctor or die in the streets.
I think the parent is actually referring to pre-tax salaries; the baselines are much lower (last I checked) in the EU relative to the US.
Some payroll taxes have to paid by employers (i.e. not subtracted from monthly salary). If they are higher than in the US, employers have less incentive to offer big salaries.
Just did a quick calculation for Brazil and for an employee that earns $1000/month, the employer has to spend $1528/month ($1000 salary + $528 in taxes and mandatory benefits).
Re: Americans Work 25% More Than Europeans, Study Finds
#34Earlier quoted context omitted.
Because European governments take a lot more out of your salary before it reaches you in exchange for social services (pensions, healthcare, etc). Unlike America where you are expected to either drop a stack of bills just to see the doctor or die in the streets.
About 90% of Americans overall have health insurance. Most full-time tech jobs in the US at the companies that would pay more than European salaries will include sufficient health insurance. I'm not sure who you're referring to dying in the streets because of a lack of medical treatment due to financial limitations.
Well, maybe not die in the streets, but in my state the best, most expensive health insurance I can purchase still doesn't kick in until I've dropped several thousand out of pocket.
I get decent insurance through my job, but it's still fucking stupid how much I have to spend before it kicks in. Even then, there are all kinds of clauses and stipulations and loop holes. I guarantee if and when I really need my insurance it will fail me and I'll still come out in debt. There simply is not a "pay money and don't worry" insurance plan out there.
Re: Americans Work 25% More Than Europeans, Study Finds
#35Thing is, in the software world at least, you earn >25% more than Europeans in the US. Just look at salaries in London. Given the extraordinary cost of living, salaries are pitiful. Why is that?
Because European governments take a lot more out of your salary before it reaches you in exchange for social services (pensions, healthcare, etc). Unlike America where you are expected to either drop a stack of bills just to see the doctor or die in the streets.
This doesn't add up though, people often talk about salaries of 60k Euro or less, and then you have to pay higher taxes on that. A $65k salary would be a joke for a software engineer in the US.
Re: Americans Work 25% More Than Europeans, Study Finds
#36Less happy, certainly plausible. The only world superpower, definitely. While I don't have any evidence to back any of that up, it certainly appears the nation working the most, has the biggest economy/power. Obviously money/power isn't everything though.
Re: Americans Work 25% More Than Europeans, Study Finds
#37Earlier quoted context omitted.
Because European governments take a lot more out of your salary before it reaches you in exchange for social services (pensions, healthcare, etc). Unlike America where you are expected to either drop a stack of bills just to see the doctor or die in the streets.
I think the parent is actually referring to pre-tax salaries; the baselines are much lower (last I checked) in the EU relative to the US.
At least in France companies pay tax on your salary so even if you receive 2000 € for your salary, the company would have paid 3000 € (salary + taxes).
Then you pay the tax on your revenue.
Then the company pay tax on revenue.
Then politics wonder why France is not attractive to investments
Re: Americans Work 25% More Than Europeans, Study Finds
#38Thing is, in the software world at least, you earn >25% more than Europeans in the US. Just look at salaries in London. Given the extraordinary cost of living, salaries are pitiful. Why is that?
Because European governments take a lot more out of your salary before it reaches you in exchange for social services (pensions, healthcare, etc). Unlike America where you are expected to either drop a stack of bills just to see the doctor or die in the streets.
Yeah, but we're talking about programmers. We typically get excellent health care benefits.
Re: Americans Work 25% More Than Europeans, Study Finds
#39Earlier quoted context omitted.
Because European governments take a lot more out of your salary before it reaches you in exchange for social services (pensions, healthcare, etc). Unlike America where you are expected to either drop a stack of bills just to see the doctor or die in the streets.
About 90% of Americans overall have health insurance. Most full-time tech jobs in the US at the companies that would pay more than European salaries will include sufficient health insurance. I'm not sure who you're referring to dying in the streets because of a lack of medical treatment due to financial limitations.
The 10% of Americans who don't. The other Americans who do but still can't afford to pay what their health care doesn't cover, etc.
Even with sufficient health care, I try to avoid the doctor because of the cost.
Re: Americans Work 25% More Than Europeans, Study Finds
#40Europeans have this shit figured out then. 25% less work means stopping at 3:00PM every day for me (unless you count the difference as block vacations). This would be LIFECHANGING. I get bored and stop concentrating around that time every day as is.