If you are a contractor currently based in the UK but comparing international destinations for your next opportunity as an independent professional, where should you be looking?
That question has been given an answer by a recent analysis reported by the ContractorUK website. It found that San Francisco, California rankest highest in terms of the annual disposable income that contractors could enjoy, coming in at €99,920 once taxes, social security and living costs were taken care of.
Such a finding should not surprise many people given that San Francisco is, after all, a focal point for professionals from around the world who are attracted to the lucrative openings offered by Silicon Valley. However, there were also some slightly more striking discoveries in the final rundown of the cities that contractors should consider from a take-home pay perspective.
A poor showing for European nations
San Francisco was not the only US city to feature in the top 10, as New York City came in sixth, recording €70,168 in annual disposable income for its contractors.
The American cities both fared strongly in the analysis with regard to headline salary for their independent professionals – this figure being a stellar €299,000 for San Francisco contractors.
However, both San Francisco and New York suffer from high living costs – particularly with regard to housing – that might serve to make them less attractive overall destinations for British contractors eager to maximize how much cash they get to keep in their pocket.
Nonetheless, the two US cities in the final top 10 is still twice as much as the whole of Europe managed; the only representative of the Old Continent was Zurich in Switzerland. However, annual disposable income recorded for contractors here was only a shade behind San Francisco’s figure, at a very respectable €99,273.
What other eye-catching results did the analysis throw up?
Much of the rest of the top 10 was made up of Asian destinations such as Shanghai in China (€85,081), Mumbai in India (€73,812) and Dubai in the United Arab Emirates (€71,370) – a reflection of the continued growth of these economies.
Hong Kong, Kuala Lumpur in Malaysia, and Singapore also all featured in the top 10, bringing contractors annual disposable incomes of €68,467, €61,084 and €55,889 respectively.
Rounding out the list was the Australian city of Sydney, where contractors can anticipate annual disposable income amounting to €42,335.
Wherever you’re contracting in 2020 and beyond, don’t hesitate to work with us
Whether or not you will be working in one of the aforementioned most lucrative destinations for independent professionals in the months or years ahead, you can count on Link Global Management to provide you with the highest standard of specialized assistance and guidance.
Our contractor accountants in Norway, the UK, Ireland, France, Germany, Turkey, the UAE, Australia and many other parts of the world are ready and available to answer your call. As a consequence, you will be able to get the very best out of your time as an overseas contractor, almost anywhere you happen to go.