Salary Calculator (PPP)

IRQ

FSM

Convert your salary from one currency to another using PPP Calculator

English

Enter Your Salary

ع.د

Choose your Country for Currency Conversion as per PPP below

Iraq

Micronesia,Fed.States

Iraqi Dinar (ع.د) = US Dollar ($)

You require a salary of

$ 12.16
info icon

We're comparing economic indicators between countries for the same year, even if it's not the latest year available. This ensures consistency, but if we want to use the latest data for both countries, you'll need to switch to an non-strict mode. (feature coming soon).

in Micronesia,Fed.States to live a similar quality of life as you would live with a salary of ع.د10,000 in Iraq

2022 PPP data from World Bank

Introduction to PPP (Purchasing Power Parity)

Purchasing Power Parity In layman language

First of all, PPP is not perfect but it is a theoretical scaling instrument that helps us understand our salary difference using the exchange rates provided and cost of goods in the particular country.

In simpler terms, to calculate which things we can afford if our salaries remain the same in the same country where I want to buy things.


Let me clear your confusion by presenting you with an example here how it goes, Imagine you have a ع.د 10,000 salary, you want to move abroad to the Micronesia,Fed.States, should you directly convert your currency to check how much you should be paid ?

Well actually No, let's check with a burger, check if the price of 🍔Burger is the same in the Micronesia,Fed.States as you have right now in Iraq. Even if you have tried to convert the price of it, you will find it slightly expensive or affordable so are you convinced now why exchange rates are not correct to check your salary.

So instead of checking exchange rates use Purchasing power parity values provided by 🌐World Bank, this index will guide and keep you informed about keeping inflation, expensive places in mind to negotiate it with your hr.

PPP index is used in salary conversion, if you move to a different country to evaluate you get the same value as you used to get in your motherland/work country to the country you moved or from the previous company to your country which can be expensive or lower as per exchange rate but as I said earlier it only converts the currencies.


Importance of PPP in economics

PPP is important because it helps us compare how well-off people are in different countries. It's like a fair way to see who can buy more with their money, regardless of the currency they use. It helps economists understand the standard of living and economic productivity across the globe.

Importance of PPP is very significant in economics to help economists, investors, enthusiasts and a closer check for governments also to check their ppp as it helps them understand how much affordability is there in a country. It also helps them understand -

  • Fair way of checking all the countries where who can buy more with their money regardless of currency they use.
  • Living standards across the nation.
  • Economic productivity across the globe.

Understanding PPP Calculators

What is a PPP Calculator?

A PPP (Purchasing Power Parity) Salary Calculator by (Banksforyou) is a financial tool made to help job seekers, expatriates, employers, hr, economists, researchers and by IMF themselves to compare salaries or wages between different countries by taking into account the differences in the cost of living, simply to check if their current salary aligns with the local cost of living.

How PPP Salary Calculator Work?

A PPP (Purchasing Power Parity) salary calculator works by adjusting salaries or wages from one country to another considering the differences in the cost of living.

Let us check the breakdown of this-

  1. Salary Input - only numeric digits are allowed. Type the salary that you get in your current origin country i.e Iraq
  2. Input Boxes - one is the origin country and another is Target country. In your country, your current country you are living in and the salary you're expecting from Iraq and the salary that should align with the Micronesia,Fed.States. Select the countries from the boxes.
  3. Data Retrieval - Data provided by World bank is stored into our databases then retrieved from it and calculates the ppp based on the selected origin and target country. The formulae goes by this - Select the countries from the boxes.

Salary you get in Iraq (origin country) whole divided by total multiplication of (source country Iraq index value multiplied by Target country FSM index value provided by World Bank)

Salary (s)- ع.د 10,000

Index Value of IRQ (a)- 792.3240301

Index Value of FSM (b)- 0.963443285

(s) / ((a) * (b)) = $12.16

Iraq vs Afghanistan
Afghanistan vs Iraq
Iraq vs Albania
Albania vs Iraq
Iraq vs Algeria
Algeria vs Iraq
Iraq vs American Samoa
American Samoa vs Iraq
Iraq vs Andorra
Andorra vs Iraq
Iraq vs Angola
Angola vs Iraq
Iraq vs Antigua and Barbuda
Antigua and Barbuda vs Iraq
Iraq vs Argentina
Argentina vs Iraq
Iraq vs Armenia
Armenia vs Iraq
Iraq vs Aruba
Aruba vs Iraq
Iraq vs Australia
Australia vs Iraq
Iraq vs Austria
Austria vs Iraq
Iraq vs Azerbaijan
Azerbaijan vs Iraq
Iraq vs Bahamas
Bahamas vs Iraq
Iraq vs Bahrain
Bahrain vs Iraq
Iraq vs Bangladesh
Bangladesh vs Iraq
Iraq vs Barbados
Barbados vs Iraq
Iraq vs Belarus
Belarus vs Iraq
Iraq vs Belgium
Belgium vs Iraq
Iraq vs Belize
Belize vs Iraq
Iraq vs Benin
Benin vs Iraq
Iraq vs Bermuda
Bermuda vs Iraq
Iraq vs Bhutan
Bhutan vs Iraq
Iraq vs Bolivia
Bolivia vs Iraq
Iraq vs Bosnia and Herzegovina
Bosnia and Herzegovina vs Iraq
Iraq vs Botswana
Botswana vs Iraq
Iraq vs Brazil
Brazil vs Iraq
Iraq vs British Virgin Islands
British Virgin Islands vs Iraq
Iraq vs Brunei Darussalam
Brunei Darussalam vs Iraq
Iraq vs Bulgaria
Bulgaria vs Iraq
Iraq vs Burkina Faso
Burkina Faso vs Iraq
Iraq vs Burundi
Burundi vs Iraq
Iraq vs Cabo Verde
Cabo Verde vs Iraq
Iraq vs Cambodia
Cambodia vs Iraq
Iraq vs Cameroon
Cameroon vs Iraq
Iraq vs Canada
Canada vs Iraq
Iraq vs Cayman Islands
Cayman Islands vs Iraq
Iraq vs Central African Republic
Central African Republic vs Iraq
Iraq vs Chad
Chad vs Iraq
Iraq vs Chile
Chile vs Iraq
Iraq vs China
China vs Iraq
Iraq vs Colombia
Colombia vs Iraq
Iraq vs Comoros
Comoros vs Iraq
Iraq vs Congo, Dem. Rep.
Congo, Dem. Rep. vs Iraq
Iraq vs Congo, Rep.
Congo, Rep. vs Iraq
Iraq vs Costa Rica
Costa Rica vs Iraq
Iraq vs Cote d'Ivoire
Cote d'Ivoire vs Iraq
Iraq vs Croatia
Croatia vs Iraq
Iraq vs Cuba
Cuba vs Iraq
Iraq vs Curacao
Curacao vs Iraq
Iraq vs Cyprus
Cyprus vs Iraq
Iraq vs Czechia
Czechia vs Iraq
Iraq vs Denmark
Denmark vs Iraq
Iraq vs Djibouti
Djibouti vs Iraq
Iraq vs Dominica
Dominica vs Iraq
Iraq vs Dominican Republic
Dominican Republic vs Iraq
Iraq vs Ecuador
Ecuador vs Iraq
Iraq vs Egypt
Egypt vs Iraq
Iraq vs El Salvador
El Salvador vs Iraq
Iraq vs Equatorial Guinea
Equatorial Guinea vs Iraq
Iraq vs Eritrea
Eritrea vs Iraq
Iraq vs Estonia
Estonia vs Iraq
Iraq vs Eswatini
Eswatini vs Iraq
Iraq vs Ethiopia
Ethiopia vs Iraq
Iraq vs Faroe Islands
Faroe Islands vs Iraq
Iraq vs Fiji
Fiji vs Iraq
Iraq vs Finland
Finland vs Iraq
Iraq vs France
France vs Iraq
Iraq vs French Polynesia
French Polynesia vs Iraq
Iraq vs Gabon
Gabon vs Iraq
Iraq vs Gambia
Gambia vs Iraq
Iraq vs Georgia
Georgia vs Iraq
Iraq vs Germany
Germany vs Iraq
Iraq vs Ghana
Ghana vs Iraq
Iraq vs Gibraltar
Gibraltar vs Iraq
Iraq vs Greece
Greece vs Iraq
Iraq vs Greenland
Greenland vs Iraq
Iraq vs Grenada
Grenada vs Iraq
Iraq vs Guam
Guam vs Iraq
Iraq vs Guatemala
Guatemala vs Iraq
Iraq vs Guinea
Guinea vs Iraq
Iraq vs Guinea-Bissau
Guinea-Bissau vs Iraq
Iraq vs Guyana
Guyana vs Iraq
Iraq vs Haiti
Haiti vs Iraq
Iraq vs Honduras
Honduras vs Iraq
Iraq vs Hong Kong SAR, China
Hong Kong SAR, China vs Iraq
Iraq vs Hungary
Hungary vs Iraq
Iraq vs Iceland
Iceland vs Iraq
Iraq vs India
India vs Iraq
Iraq vs Indonesia
Indonesia vs Iraq
Iraq vs Iran, Islamic Rep.
Iran, Islamic Rep. vs Iraq
Iraq vs Ireland
Ireland vs Iraq
Iraq vs Isle of Man
Isle of Man vs Iraq
Iraq vs Israel
Israel vs Iraq
Iraq vs Italy
Italy vs Iraq
Iraq vs Jamaica
Jamaica vs Iraq
Iraq vs Japan
Japan vs Iraq
Iraq vs Jordan
Jordan vs Iraq
Iraq vs Kazakhstan
Kazakhstan vs Iraq
Iraq vs Kenya
Kenya vs Iraq
Iraq vs Kiribati
Kiribati vs Iraq
Iraq vs Korea, Dem. People's Rep.
Korea, Dem. People's Rep. vs Iraq
Iraq vs Korea, Rep.
Korea, Rep. vs Iraq
Iraq vs Kuwait
Kuwait vs Iraq
Iraq vs Kyrgyzstan
Kyrgyzstan vs Iraq
Iraq vs Lao PDR
Lao PDR vs Iraq
Iraq vs Latvia
Latvia vs Iraq
Iraq vs Lebanon
Lebanon vs Iraq
Iraq vs Lesotho
Lesotho vs Iraq
Iraq vs Liberia
Liberia vs Iraq
Iraq vs Libya
Libya vs Iraq
Iraq vs Liechtenstein
Liechtenstein vs Iraq
Iraq vs Lithuania
Lithuania vs Iraq
Iraq vs Luxembourg
Luxembourg vs Iraq
Iraq vs Macao SAR, China
Macao SAR, China vs Iraq
Iraq vs Madagascar
Madagascar vs Iraq
Iraq vs Malawi
Malawi vs Iraq
Iraq vs Malaysia
Malaysia vs Iraq
Iraq vs Maldives
Maldives vs Iraq
Iraq vs Mali
Mali vs Iraq
Iraq vs Malta
Malta vs Iraq
Iraq vs Marshall Islands
Marshall Islands vs Iraq
Iraq vs Mauritania
Mauritania vs Iraq
Iraq vs Mauritius
Mauritius vs Iraq
Iraq vs Mexico
Mexico vs Iraq
Iraq vs Micronesia,Fed.States
Micronesia,Fed.States vs Iraq
Iraq vs Moldova, Republic of
Moldova, Republic of vs Iraq
Iraq vs Monaco
Monaco vs Iraq
Iraq vs Mongolia
Mongolia vs Iraq
Iraq vs Montenegro
Montenegro vs Iraq
Iraq vs Morocco
Morocco vs Iraq
Iraq vs Mozambique
Mozambique vs Iraq
Iraq vs Myanmar
Myanmar vs Iraq
Iraq vs Namibia
Namibia vs Iraq
Iraq vs Nauru
Nauru vs Iraq
Iraq vs Nepal
Nepal vs Iraq
Iraq vs Netherlands
Netherlands vs Iraq
Iraq vs New Caledonia
New Caledonia vs Iraq
Iraq vs New Zealand
New Zealand vs Iraq
Iraq vs Nicaragua
Nicaragua vs Iraq
Iraq vs Niger
Niger vs Iraq
Iraq vs Nigeria
Nigeria vs Iraq
Iraq vs North Macedonia
North Macedonia vs Iraq
Iraq vs Northern Mariana Islands
Northern Mariana Islands vs Iraq
Iraq vs Norway
Norway vs Iraq
Iraq vs Oman
Oman vs Iraq
Iraq vs Pakistan
Pakistan vs Iraq
Iraq vs Palau
Palau vs Iraq
Iraq vs Panama
Panama vs Iraq
Iraq vs Papua New Guinea
Papua New Guinea vs Iraq
Iraq vs Paraguay
Paraguay vs Iraq
Iraq vs Peru
Peru vs Iraq
Iraq vs Philippines
Philippines vs Iraq
Iraq vs Poland
Poland vs Iraq
Iraq vs Portugal
Portugal vs Iraq
Iraq vs Puerto Rico
Puerto Rico vs Iraq
Iraq vs Qatar
Qatar vs Iraq
Iraq vs Romania
Romania vs Iraq
Iraq vs Russian Federation
Russian Federation vs Iraq
Iraq vs Rwanda
Rwanda vs Iraq
Iraq vs Saint Kitts and Nevis
Saint Kitts and Nevis vs Iraq
Iraq vs Saint Lucia
Saint Lucia vs Iraq
Iraq vs Samoa
Samoa vs Iraq
Iraq vs San Marino
San Marino vs Iraq
Iraq vs Sao Tome and Principe
Sao Tome and Principe vs Iraq
Iraq vs Saudi Arabia
Saudi Arabia vs Iraq
Iraq vs Senegal
Senegal vs Iraq
Iraq vs Serbia
Serbia vs Iraq
Iraq vs Seychelles
Seychelles vs Iraq
Iraq vs Sierra Leone
Sierra Leone vs Iraq
Iraq vs Singapore
Singapore vs Iraq
Iraq vs Sint Maarten (Dutch part)
Sint Maarten (Dutch part) vs Iraq
Iraq vs Slovakia
Slovakia vs Iraq
Iraq vs Slovenia
Slovenia vs Iraq
Iraq vs Solomon Islands
Solomon Islands vs Iraq
Iraq vs Somalia
Somalia vs Iraq
Iraq vs South Africa
South Africa vs Iraq
Iraq vs South Sudan
South Sudan vs Iraq
Iraq vs Spain
Spain vs Iraq
Iraq vs Sri Lanka
Sri Lanka vs Iraq
Iraq vs St. Martin (French part)
St. Martin (French part) vs Iraq
Iraq vs St. Vincent and the Grenadines
St. Vincent and the Grenadines vs Iraq
Iraq vs Sudan
Sudan vs Iraq
Iraq vs Suriname
Suriname vs Iraq
Iraq vs Sweden
Sweden vs Iraq
Iraq vs Switzerland
Switzerland vs Iraq
Iraq vs Syrian Arab Republic
Syrian Arab Republic vs Iraq
Iraq vs Tajikistan
Tajikistan vs Iraq
Iraq vs Tanzania
Tanzania vs Iraq
Iraq vs Thailand
Thailand vs Iraq
Iraq vs Timor-Leste
Timor-Leste vs Iraq
Iraq vs Togo
Togo vs Iraq
Iraq vs Tonga
Tonga vs Iraq
Iraq vs Trinidad and Tobago
Trinidad and Tobago vs Iraq
Iraq vs Tunisia
Tunisia vs Iraq
Iraq vs Turkey
Turkey vs Iraq
Iraq vs Turkmenistan
Turkmenistan vs Iraq
Iraq vs Turks and Caicos Islands
Turks and Caicos Islands vs Iraq
Iraq vs Tuvalu
Tuvalu vs Iraq
Iraq vs Uganda
Uganda vs Iraq
Iraq vs Ukraine
Ukraine vs Iraq
Iraq vs United Arab Emirates
United Arab Emirates vs Iraq
Iraq vs United Kingdom
United Kingdom vs Iraq
Iraq vs United States of America
United States of America vs Iraq
Iraq vs Uruguay
Uruguay vs Iraq
Iraq vs US Virgin Islands
US Virgin Islands vs Iraq
Iraq vs Uzbekistan
Uzbekistan vs Iraq
Iraq vs Vanuatu
Vanuatu vs Iraq
Iraq vs Venezuela
Venezuela vs Iraq
Iraq vs Vietnam
Vietnam vs Iraq
Iraq vs West Bank and Gaza
West Bank and Gaza vs Iraq
Iraq vs Yemen
Yemen vs Iraq
Iraq vs Zambia
Zambia vs Iraq
Iraq vs Zimbabwe
Zimbabwe vs Iraq

Uses of PPP Calculators

Cost of Living Comparison

This is how they can impact their cost of living standards by adjusting salaries based on the relative purchasing power of different currencies and locations.

  1. Standardizing Salary Comparisons
  2. Ensuring Fair Compensation
  3. Informing Relocation Decisions
  4. Budgeting and Financial Planning
  5. Negotiating Job Offers

And for companies it gives them a relative index value so they are aware of their costs and the expenses and their product launch price is also affected.

Benefits of Using a PPP Salary Calculator

A PPP (Purchasing Power Parity) salary calculator works by adjusting salaries or wages from one country to another considering the differences in the cost of living.

Let us check the breakdown of this-

  1. Estimated Cost of Living Comparison -
  2. PPP salary calculators help in understanding the difference and comparisons of salaries across different nations in context to your current country’s salary. Thus you can have an informed decision.

  3. Fair Compensation Practices -
  4. It ensures that employers will provide a living standard salary to the employee.

  5. Effective Job Search -
  6. It is an absolutely great tool to search for a job and based on your skills and market rate in your country you can search salary ranges in other countries as well with this tool.

Disadvantages of using PPP Salary Calculator

  1. Accuracy Concerns -
  2. As the data depends on the salary entered and the current market conditions like inflation, disaster or any unexpected incident also sometimes due to use of non-latest index value. The data is fetched from the World Bank so if they have not collected the new data it is not possible to update to the latest year from our side.

  3. Non-monetary benefits are not calculated -
  4. Non monetary benefits such as training opportunities, career development courses or flexible work opportunities differ from person and places.

  5. Risk of Misinterpretation -
  6. Misinterpretation of salary figures without considering crucial factors such as job satisfaction, work life balance or long term career growth.

Frequently Asked Questions

PPP in full form is Purchasing Power Parity is an Index which is prepared by the World Bank so as to check if the same item can be purchased with the same price or not across nations.

GDP measures the total value of goods and services produced within a country, reflecting its economic output using market exchange rates. PPP adjusted exchange rates to compare the purchasing power of different currencies, ensuring that identical goods and services have the same price when checked in a common currency.


Essentially, GDP focuses on the size and growth of an economy, while PPP provides a more accurate comparison of living standards and economic welfare between countries by considering differences in the cost of living and inflation rates such as production of the total number of burgers produced in Iraq vs price of Burger in Iraq Vs Micronesia,Fed.States

Per capita Income is the average income earned by the citizens of Iraq or Micronesia,Fed.States it can be calculated either by Per capita GDP or GDP per capita PPP.

  • GDP per Capita - Total GDP of a country / its population. It indicates the economic output per person in a country.
  • GDP per capita PPP - It is almost similar to GDP per Capita but instead of using nominal GDP it used PPP adjusted GDP. It provides more accurate data for calculating cost of living standards.