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Top 5 countries with the highest salary

It crosses the minds of many; pack up your bags and cross the border to make a new life there. Should you settle abroad purely for the highest average salary, these are the best five countries to settle in.
Salaris

The list was compiled by WorldData, a database for economic, demographic and geographic data, among others. Average income was calculated based on gross national income and population. The annual income and profits were divided by the population and voila; a ranking of the countries with the average salaries. The calculation included salaries as well as income from investments and capital gains. MASTERS takes a financial look at the five countries with the highest average salaries.

5. Norway (€6,487)

Although the country has a relatively cold climate, one is still quite warm with an average monthly salary of €6,487. On the other hand, average prices do average 35% higher than in the Netherlands, making it one of Europe's most expensive countries to spend the vacation.

4. Luxembourg (€6,820)

It may be the second smallest country in the European Union with just over half a million inhabitants; in terms of salary, Luxembourgers have little to complain about. On average, residents earn an average of €6,820 per month.

3. Switzerland (€7,007)

Those who think of Switzerland often immediately think of high mountains AND high price tags. The Swiss claim third place with an average salary of €7,007 per month. Another thing the adjective can be pasted in front of. For those who want to visit the Swiss Alps; hotel and restaurant prices are about 67% higher than the rest of Europe, so you can spend your hard-earned pennies here.

2. Bermuda (€9,472)

The overseas country where the bermuda shorts first covered the legs comes in at number two, where the average salary almost tops 10k. Quite apart from the huge level of goods like gas, clothing and vegetables - everything has to be imported which jacked up prices quite a bit - the country does count as one of the biggest tax havens in the world.

1. Monaco (€14,392)

The No. 1 most heavenly place to live is Monaco. In addition to having the highest average monthly salary, the dwarf state on the Mediterranean, and home of racing hero Max Verstappen, has quite a few millionaires. 1 in 3 Monegasques has a seven-figure sum (or more) in his or her bank account.

The Netherlands is missing from this list, but does appear in the top 20. Our little frog fills the 14th spot with an average gross salary of €4,269. East Timor, Nepal and Afghanistan end at the bottom of the ladder, with the latter receiving an average of €30 per month in their accounts.