Salary Calculator (PPP)

TKM

MNG

Convert your salary from one currency to another using PPP Calculator

English

Enter Your Salary

m

Choose your Country for Currency Conversion as per PPP below

Turkmenistan

Mongolia

Turkmenistan New Manat (m) = Tugrik (₮)

You require a salary of

6,286,644.93
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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 Mongolia to live a similar quality of life as you would live with a salary of m10,000 in Turkmenistan

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

Salary (s)- m 10,000

Index Value of TKM (a)- 1.76758426

Index Value of MNG (b)- 1111.217462

(s) / ((a) * (b)) = ₮0.00

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Cambodia vs Turkmenistan
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Cayman Islands vs Turkmenistan
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Comoros vs Turkmenistan
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Congo, Dem. Rep. vs Turkmenistan
Turkmenistan vs Congo, Rep.
Congo, Rep. vs Turkmenistan
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Cote d'Ivoire vs Turkmenistan
Turkmenistan vs Croatia
Croatia vs Turkmenistan
Turkmenistan vs Cuba
Cuba vs Turkmenistan
Turkmenistan vs Curacao
Curacao vs Turkmenistan
Turkmenistan vs Cyprus
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Turkmenistan vs Czechia
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Turkmenistan vs Denmark
Denmark vs Turkmenistan
Turkmenistan vs Djibouti
Djibouti vs Turkmenistan
Turkmenistan vs Dominica
Dominica vs Turkmenistan
Turkmenistan vs Dominican Republic
Dominican Republic vs Turkmenistan
Turkmenistan vs Ecuador
Ecuador vs Turkmenistan
Turkmenistan vs Egypt
Egypt vs Turkmenistan
Turkmenistan vs El Salvador
El Salvador vs Turkmenistan
Turkmenistan vs Equatorial Guinea
Equatorial Guinea vs Turkmenistan
Turkmenistan vs Eritrea
Eritrea vs Turkmenistan
Turkmenistan vs Estonia
Estonia vs Turkmenistan
Turkmenistan vs Eswatini
Eswatini vs Turkmenistan
Turkmenistan vs Ethiopia
Ethiopia vs Turkmenistan
Turkmenistan vs Faroe Islands
Faroe Islands vs Turkmenistan
Turkmenistan vs Fiji
Fiji vs Turkmenistan
Turkmenistan vs Finland
Finland vs Turkmenistan
Turkmenistan vs France
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Turkmenistan vs Gabon
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Turkmenistan vs Gambia
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Turkmenistan vs Georgia
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Turkmenistan vs Germany
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Turkmenistan vs Gibraltar
Gibraltar vs Turkmenistan
Turkmenistan vs Greece
Greece vs Turkmenistan
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Guam vs Turkmenistan
Turkmenistan vs Guatemala
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Hong Kong SAR, China vs Turkmenistan
Turkmenistan vs Hungary
Hungary vs Turkmenistan
Turkmenistan vs Iceland
Iceland vs Turkmenistan
Turkmenistan vs India
India vs Turkmenistan
Turkmenistan vs Indonesia
Indonesia vs Turkmenistan
Turkmenistan vs Iran, Islamic Rep.
Iran, Islamic Rep. vs Turkmenistan
Turkmenistan vs Iraq
Iraq vs Turkmenistan
Turkmenistan vs Ireland
Ireland vs Turkmenistan
Turkmenistan vs Isle of Man
Isle of Man vs Turkmenistan
Turkmenistan vs Israel
Israel vs Turkmenistan
Turkmenistan vs Italy
Italy vs Turkmenistan
Turkmenistan vs Jamaica
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Jordan vs Turkmenistan
Turkmenistan vs Kazakhstan
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Turkmenistan vs Kenya
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Macao SAR, China vs Turkmenistan
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Malawi vs Turkmenistan
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Malaysia vs Turkmenistan
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Maldives vs Turkmenistan
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Malta vs Turkmenistan
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Marshall Islands vs Turkmenistan
Turkmenistan vs Mauritania
Mauritania vs Turkmenistan
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Mauritius vs Turkmenistan
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Micronesia,Fed.States vs Turkmenistan
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Monaco vs Turkmenistan
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Montenegro vs Turkmenistan
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Morocco vs Turkmenistan
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Mozambique vs Turkmenistan
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Namibia vs Turkmenistan
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Nauru vs Turkmenistan
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New Caledonia vs Turkmenistan
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Nicaragua vs Turkmenistan
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Nigeria vs Turkmenistan
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Palau vs Turkmenistan
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Panama vs Turkmenistan
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Papua New Guinea vs Turkmenistan
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Paraguay vs Turkmenistan
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Peru vs Turkmenistan
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Philippines vs Turkmenistan
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Poland vs Turkmenistan
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Portugal vs Turkmenistan
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Puerto Rico vs Turkmenistan
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Qatar vs Turkmenistan
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Romania vs Turkmenistan
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Russian Federation vs Turkmenistan
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Rwanda vs Turkmenistan
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Saint Kitts and Nevis vs Turkmenistan
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Saint Lucia vs Turkmenistan
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Samoa vs Turkmenistan
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San Marino vs Turkmenistan
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Sao Tome and Principe vs Turkmenistan
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Saudi Arabia vs Turkmenistan
Turkmenistan vs Senegal
Senegal vs Turkmenistan
Turkmenistan vs Serbia
Serbia vs Turkmenistan
Turkmenistan vs Seychelles
Seychelles vs Turkmenistan
Turkmenistan vs Sierra Leone
Sierra Leone vs Turkmenistan
Turkmenistan vs Singapore
Singapore vs Turkmenistan
Turkmenistan vs Sint Maarten (Dutch part)
Sint Maarten (Dutch part) vs Turkmenistan
Turkmenistan vs Slovakia
Slovakia vs Turkmenistan
Turkmenistan vs Slovenia
Slovenia vs Turkmenistan
Turkmenistan vs Solomon Islands
Solomon Islands vs Turkmenistan
Turkmenistan vs Somalia
Somalia vs Turkmenistan
Turkmenistan vs South Africa
South Africa vs Turkmenistan
Turkmenistan vs South Sudan
South Sudan vs Turkmenistan
Turkmenistan vs Spain
Spain vs Turkmenistan
Turkmenistan vs Sri Lanka
Sri Lanka vs Turkmenistan
Turkmenistan vs St. Martin (French part)
St. Martin (French part) vs Turkmenistan
Turkmenistan vs St. Vincent and the Grenadines
St. Vincent and the Grenadines vs Turkmenistan
Turkmenistan vs Sudan
Sudan vs Turkmenistan
Turkmenistan vs Suriname
Suriname vs Turkmenistan
Turkmenistan vs Sweden
Sweden vs Turkmenistan
Turkmenistan vs Switzerland
Switzerland vs Turkmenistan
Turkmenistan vs Syrian Arab Republic
Syrian Arab Republic vs Turkmenistan
Turkmenistan vs Tajikistan
Tajikistan vs Turkmenistan
Turkmenistan vs Tanzania
Tanzania vs Turkmenistan
Turkmenistan vs Thailand
Thailand vs Turkmenistan
Turkmenistan vs Timor-Leste
Timor-Leste vs Turkmenistan
Turkmenistan vs Togo
Togo vs Turkmenistan
Turkmenistan vs Tonga
Tonga vs Turkmenistan
Turkmenistan vs Trinidad and Tobago
Trinidad and Tobago vs Turkmenistan
Turkmenistan vs Tunisia
Tunisia vs Turkmenistan
Turkmenistan vs Turkey
Turkey vs Turkmenistan
Turkmenistan vs Turks and Caicos Islands
Turks and Caicos Islands vs Turkmenistan
Turkmenistan vs Tuvalu
Tuvalu vs Turkmenistan
Turkmenistan vs Uganda
Uganda vs Turkmenistan
Turkmenistan vs Ukraine
Ukraine vs Turkmenistan
Turkmenistan vs United Arab Emirates
United Arab Emirates vs Turkmenistan
Turkmenistan vs United Kingdom
United Kingdom vs Turkmenistan
Turkmenistan vs United States of America
United States of America vs Turkmenistan
Turkmenistan vs Uruguay
Uruguay vs Turkmenistan
Turkmenistan vs US Virgin Islands
US Virgin Islands vs Turkmenistan
Turkmenistan vs Uzbekistan
Uzbekistan vs Turkmenistan
Turkmenistan vs Vanuatu
Vanuatu vs Turkmenistan
Turkmenistan vs Venezuela
Venezuela vs Turkmenistan
Turkmenistan vs Vietnam
Vietnam vs Turkmenistan
Turkmenistan vs West Bank and Gaza
West Bank and Gaza vs Turkmenistan
Turkmenistan vs Yemen
Yemen vs Turkmenistan
Turkmenistan vs Zambia
Zambia vs Turkmenistan
Turkmenistan vs Zimbabwe
Zimbabwe vs Turkmenistan

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 Turkmenistan vs price of Burger in Turkmenistan Vs Mongolia

Per capita Income is the average income earned by the citizens of Turkmenistan or Mongolia 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.