Cost of Living Paper

936 Words4 Pages
Cost of Living Paper The cost of living in five different countries and the affect on the way payroll would be done implemented each country for managers that were sent there to manage the company in each country. The five countries chosen are China, Mexico, Canada, Philippines, and France. China cost of living according to www.englishfirst.com in China is * Gross Income (Salary) : 12,350 RMB,=$ 1,938.95 USD * Rent : 3500 RMB = $549.50 USD * Utilities (electricity, gas, water) : 250 RMB= $39.25 USD * Phone & Internet : 300 RMB = $47.10 USD * Food : 1500 RMB = $235.50 USD * Insurance : 295 RMB = $46.32 USD * Remaining Disposable Income : 6,505 RMB = $1021.29 USD This would affect the way payroll…show more content…
The HRM would have to take all the factors and consider the differences and figure out a pay scale if they want to compete they would have to have a higher pay scale than the average that is listed above. If a company were to send employees to the above named different countries from the USA to make pay scales in the companies based within the foreign country. The USA employee would want to take into consideration that the other countries pay their employees different rates and the amounts of cost of living in the countries when it has high cost to live places the pay rate would have to be higher than when cost of living is low. You also have to look hard at pay scales already in place in those countries. The above data was all done on average cost of living. You can either do it for less than average or higher and is the exchange rate s lower than in the USA you can afford to pay a little higher to attract employees. HRM must consider the laws n each and every country first. The laws for every country are different and labor laws are most important in following then make pay scales by the cost of living in each. Works Cited unknown. (n.d.). www.englishfirst.com . Retrieved 12 7, 12012, from English first teaching jobs : http://www.englishfirst.com/trt/cost-of-living-in-china.html www.worldsalaries.org. (n.d.). Retrieved december 6, 2012, from world salaries :
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