Salary Calculator (PPP)

ISL

DMA

Convert your salary from one currency to another using PPP Calculator

English

Enter Your Salary

kr

Choose your Country for Currency Conversion as per PPP below

Iceland

Dominica

Iceland Króna (kr) = East Caribbean Dollar ($)

You require a salary of

$ 116.65
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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 Dominica to live a similar quality of life as you would live with a salary of kr10,000 in Iceland

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 kr 10,000 salary, you want to move abroad to the Dominica, 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 Dominica as you have right now in Iceland. 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 Iceland
  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 Iceland and the salary that should align with the Dominica. 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 Iceland (origin country) whole divided by total multiplication of (source country Iceland index value multiplied by Target country DMA index value provided by World Bank)

Salary (s)- kr 10,000

Index Value of ISL (a)- 142.763866

Index Value of DMA (b)- 1.665276782

(s) / ((a) * (b)) = $0.00

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

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 Iceland vs price of Burger in Iceland Vs Dominica

Per capita Income is the average income earned by the citizens of Iceland or Dominica 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.