Want a £15,000 pay rise? Maybe you should move abroad…
Workers from the UK could potentially boost their salary by nearly £15,000 typically by relocating abroad, a survey has found.
More than half (52%) of those moving overseas saw an increase in their salary, although a fifth (20%) took a pay cut, according to HSBC's Expat Explorer survey.
On average, expats originally from the UK can expect to see their income increase by £14,613 after moving abroad, the study found.
For those looking to really boost their incomes, the global report found Switzerland tops the list of destinations for the biggest pay packets, with the average annual expat salary at £155,495 – the highest in the survey.
The United States took second place at £141,885, with Hong Kong third at £136,970.
The survey among more than 22,300 expats from 163 countries and territories also found that the UK and US were voted the best places to get ahead in a career.
And it revealed that 45% of those in the global study who had moved abroad had received more money for doing exactly the same work as before and 28% had moved for a promotion.
John Goddard, head of HSBC Expat, said: "A taste of life in a new location can be the key to unlocking your creative potential, finding the work/life balance you've been craving, or taking your career in a new direction.
"Seeking advice before you move to set up a bank account in your new destination, finding the best way to transfer money internationally and making the most of any additional savings can help you focus on your career and settle more quickly in your new home."