Euro Eases Country-By-Country Job Comparisons

The introduction of the euro in 11 European countries this week should make it easier to compare pay and benefit levels in different countries. Global management consulting firm Watson Wyatt & Co., for example, has devised Global Grading System, which establishes 25 grades for 50 types of jobs ranging from junior clerk to CEO. An example: The median base pay for a Grade 16 middle-management employee in Spain pays, in U.S. dollars, just 64% of what the pay for that job would be in Germany. Watson Wyatt's 300-page report, 1998/99 Global 50 Renumeration Planning Report -- with actual market practices from 45 countries in Africa, Asia, Europe, and the Americas -- costs $1,500 and is available on CD-ROM or in print by calling Watson Wyatt at 201/843-1177 or visiting the company's Web site: