The average salaries (in US-dollars) might look particularly high in Australia or the U.S., but QS TopMBA.com used Numbeo’s cost-of-living tool to analyse which salary is actually highest, when you live in the country and have to spend money for housing, food and other amenities.

Average salaries according to QS TopMBA.com:

Australia: $108,250

United States: $100,714

Canada: $92,500

Ireland: $92,125

United Kingdom: $91,600

Singapore: $90,700

However, if you weigh the cost-of-living in, the picture looks different again. Australia is a relatively expensive country to live in. In the US for instance, consumer pricing, including rent, is 11.49 per cent lower than in Australia, the survey found. This also is the case in Canada and the UK, where an average MBA salary exceeds the purchasing power of an Australian salary in Australia. In the UK, though, slightly cheaper cost-of-living does not quite offset the lower salary is the verdict of the analysis. On the other hand, Ireland and Singapore are both more expensive destinations despite having a considerably lower income.

The survey views the U.S. salary favourably with making up for high costs although it clearly states that Canada offers the best value for money, with MBAs needing 2,000 U.S. dollar less than the average salary to maintain the same lifestyle. So according to Top MBA the winner is Canada despite Australia and the U.S. offering a higher average salary in general.

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