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6 days agoCost of living is significantly lower, and the social safety net means you don’t need as much anyway.
My gut feel is wages are so much higher in the US because everyone is responsible for looking after themselves if life turns on them, so you’re obliged to stockpile wealth in case you’re suddenly jobless or have a giant medical or education bill to contend with.
It was one of the reasons I left academia. I doubled my pay within two years.