Salary Calculator (PPP)

USA

ERI

Convert your salary from one currency to another using PPP Calculator

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Enter Your Salary

$

Choose your Country for Currency Conversion as per PPP below

United States of America

Eritrea

US Dollar ($) = Nakfa (Nfk)

You require a salary of

Nfk 60,717.87
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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 Eritrea to live a similar quality of life as you would live with a salary of $10,000 in United States of America

2014 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 $ 10,000 salary, you want to move abroad to the Eritrea, 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 Eritrea as you have right now in United States of America. 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 United States of America
  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 United States of America and the salary that should align with the Eritrea. 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 United States of America (origin country) whole divided by total multiplication of (source country United States of America index value multiplied by Target country ERI index value provided by World Bank)

Salary (s)- $ 10,000

Index Value of USA (a)- 1

Index Value of ERI (b)- 6.071786884

(s) / ((a) * (b)) = Nfk0.00

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Czechia vs United States of America
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Dominica vs United States of America
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Dominican Republic vs United States of America
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Ecuador vs United States of America
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Egypt vs United States of America
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El Salvador vs United States of America
United States of America vs Equatorial Guinea
Equatorial Guinea vs United States of America
United States of America vs Eritrea
Eritrea vs United States of America
United States of America vs Estonia
Estonia vs United States of America
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Eswatini vs United States of America
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Ethiopia vs United States of America
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Faroe Islands vs United States of America
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Fiji vs United States of America
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Finland vs United States of America
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France vs United States of America
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French Polynesia vs United States of America
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Gabon vs United States of America
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Gambia vs United States of America
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Georgia vs United States of America
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Gibraltar vs United States of America
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Guyana vs United States of America
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Haiti vs United States of America
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Indonesia vs United States of America
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Iran, Islamic Rep. vs United States of America
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Iraq vs United States of America
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Ireland vs United States of America
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Isle of Man vs United States of America
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Italy vs United States of America
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Jamaica vs United States of America
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Japan vs United States of America
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Jordan vs United States of America
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Kenya vs United States of America
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Korea, Dem. People's Rep. vs United States of America
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Kyrgyzstan vs United States of America
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Lao PDR vs United States of America
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Latvia vs United States of America
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Lebanon vs United States of America
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Lesotho vs United States of America
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Libya vs United States of America
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Nicaragua vs United States of America
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Niger vs United States of America
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North Macedonia vs United States of America
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Northern Mariana Islands vs United States of America
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Norway vs United States of America
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Oman vs United States of America
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Pakistan vs United States of America
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Palau vs United States of America
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Panama vs United States of America
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Papua New Guinea vs United States of America
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Paraguay vs United States of America
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Peru vs United States of America
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Philippines vs United States of America
United States of America vs Poland
Poland vs United States of America
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Portugal vs United States of America
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Puerto Rico vs United States of America
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Qatar vs United States of America
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Romania vs United States of America
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Russian Federation vs United States of America
United States of America vs Rwanda
Rwanda vs United States of America
United States of America vs Saint Kitts and Nevis
Saint Kitts and Nevis vs United States of America
United States of America vs Saint Lucia
Saint Lucia vs United States of America
United States of America vs Samoa
Samoa vs United States of America
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San Marino vs United States of America
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Sao Tome and Principe vs United States of America
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Saudi Arabia vs United States of America
United States of America vs Senegal
Senegal vs United States of America
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Serbia vs United States of America
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Seychelles vs United States of America
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Sierra Leone vs United States of America
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Singapore vs United States of America
United States of America vs Sint Maarten (Dutch part)
Sint Maarten (Dutch part) vs United States of America
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Slovakia vs United States of America
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Slovenia vs United States of America
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Solomon Islands vs United States of America
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Somalia vs United States of America
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South Africa vs United States of America
United States of America vs South Sudan
South Sudan vs United States of America
United States of America vs Spain
Spain vs United States of America
United States of America vs Sri Lanka
Sri Lanka vs United States of America
United States of America vs St. Martin (French part)
St. Martin (French part) vs United States of America
United States of America vs St. Vincent and the Grenadines
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Sudan vs United States of America
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Suriname vs United States of America
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Sweden vs United States of America
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Switzerland vs United States of America
United States of America vs Syrian Arab Republic
Syrian Arab Republic vs United States of America
United States of America vs Tajikistan
Tajikistan vs United States of America
United States of America vs Tanzania
Tanzania vs United States of America
United States of America vs Thailand
Thailand vs United States of America
United States of America vs Timor-Leste
Timor-Leste vs United States of America
United States of America vs Togo
Togo vs United States of America
United States of America vs Tonga
Tonga vs United States of America
United States of America vs Trinidad and Tobago
Trinidad and Tobago vs United States of America
United States of America vs Tunisia
Tunisia vs United States of America
United States of America vs Turkey
Turkey vs United States of America
United States of America vs Turkmenistan
Turkmenistan vs United States of America
United States of America vs Turks and Caicos Islands
Turks and Caicos Islands vs United States of America
United States of America vs Tuvalu
Tuvalu vs United States of America
United States of America vs Uganda
Uganda vs United States of America
United States of America vs Ukraine
Ukraine vs United States of America
United States of America vs United Arab Emirates
United Arab Emirates vs United States of America
United States of America vs United Kingdom
United Kingdom vs United States of America
United States of America vs Uruguay
Uruguay vs United States of America
United States of America vs US Virgin Islands
US Virgin Islands vs United States of America
United States of America vs Uzbekistan
Uzbekistan vs United States of America
United States of America vs Vanuatu
Vanuatu vs United States of America
United States of America vs Venezuela
Venezuela vs United States of America
United States of America vs Vietnam
Vietnam vs United States of America
United States of America vs West Bank and Gaza
West Bank and Gaza vs United States of America
United States of America vs Yemen
Yemen vs United States of America
United States of America vs Zambia
Zambia vs United States of America
United States of America vs Zimbabwe
Zimbabwe vs United States of America

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 United States of America vs price of Burger in United States of America Vs Eritrea

Per capita Income is the average income earned by the citizens of United States of America or Eritrea 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.