Some good news and some bad news, good news first:
I'm going to Edinburgh and I'll be working for ThruPoint. Still. My resignation was refused. This is a good thing.
The bad news is that it will take longer for me to get there than I had originally thought, perhaps as long as a month.
Now on to the meat of the discussion.
How to attract and compensate expatriate talent has become a topic of increased concern as local companies develop a global reach or as global companies develop a local touch. There are a wide variety of opinions about whether or not to compete globally and how to do so; a large number of companies feel that their managers must have some overseas experience in order to become executives in a global company.
There are many questions to be answered when attracting overseas talent or relocating personnel. Of chief concern to the individual being relocated is compensation. Constructing a compensation package that everyone can live with is difficult enough - constructing one that incents the employee, meets the budget constraints of your company's bottom line as well as your personnel goals can be monumental.
To that end, I'm going to explain a single tool that can be used to assist in calculating an equitable equivalent salary between countries using a tried and tested method of performing currency arbitrage: purchasing power parity.
Purchasing power parity is a way of measuring the difference in purchasing power between two countries after accounting for the exchange rate. A brief example might help to illustrate:
An Apple iPod, a popular music player, sells for $299US in the United States at an Apple outlet. It sells for £248 in the UK. The exchange rate between these two coutnries is $1.83 to £1. To purchase an iPod in the UK using US dollars, you would need $453.84. The ratio of these prices is the purchasing power parity for the market in iPods. This number is 1.52. It implies that Americans have one and a half times the iPod purchasing power of Scots.
The HR director of your firm isn't concerned with the purchasing power parity for iPods, of course, but instead will want to look at a more representative index. The best known purchasing power parity index is the Big Mac index. The Big Mac is a standard product available nearly everywhere. Since McDonald's supply chain management is standardized, the price of a Big Mac includes the cost of using local infrastructure, securing local labor, fighting local bureaucracy and a host of other costs that will affect an employee who moves to the area. The Economist maintains the Big Mac index and it can be found at The Economist website. It happens to be one of the most accurate measures of purchasing power parity (PPP) around.
In order to apply PPP practically to salaries of expatriates, use this formula:
1. Find the exchange rate from the home country to the new country.
2. Calculate the difference in purchasing power parity.
3. Apply the difference in purchasing power parity to the exchange rate.
4. Use the resulting number as a multiple for the initial salary.
Here's an example:
Frieda works in the U.S. and wants to work in London. What sort of salary should she look for to enjoy the same standard of living, before taking tax into account?
First, her existing salary is $100,000.
Second, the exchange rate between the countries is 1.83.
Third, the PPP between the U.K. and U.S. is 1.23. In other words, a dollar of U.S. salary only buys 1/1.23 of a dollar of stuff in London, or about 81 cents. So she'll need a salary of $123,000, which is £67,213.
Frieda will have to take other things into account - she won't need health insurance, but British taxes will take an additional 17% bite out of her wages, for example.
What if the PPP is the same? Just use the exchange rate. Here's another example:
Bob works in the United States as an executive with a large firm. The large firm decides that he needs some experience managing a manufacturing unit in South Korea. He's open to the idea, so they work out a compensation package.
Let's say that Bob makes $248,000 in the U.S. The exchange rate from the $US to KRW (South Korean Won) is 1,201.10. The best source for this information can be found at Oanda. The Big Mac PPP between the two countries is 1; 1,201.10KRW buys $1US worth of goods in South Korea, the same as it does in Peoria, Illinois.
While there are almost certainly other concerns for the HR Director responsible for setting Bob's salary, a good baseline for ensuring that he enjoys the same standard of living in South Korea that he did in the U.S. will be 298million KRW.
Purchasing power parity provides a method of finding a baseline salary to maintain standard of living, all other things being equal. It should not be used as a golden formula that provides all answers, since other things are almost never equal.
Frieda may be able to walk to work, and thus not need a car. Bob may require extensive language training.
What purchasing power parity will do, however, is provide the starting value in a more extended calculation that HR managers can use to construct an equitable compensation plan.
-Nathan Dornbrook
The brand new Ipod nano seems awesome! And $149 for an 8 GB is pretty damn good. Look at the size of it! But I might go for an Ipod Touch to enjoy all the additional Iphone 4 functions.
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The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it'll do even better in those areas, but for now it's a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod's strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.
The new Zune browser is surprisingly good, but not as good as the iPod's. It works well, but isn't as fast as Safari, and has a clunkier interface. If you occasionally plan on using the web browser that's not an issue, but if you're planning to browse the web alot from your PMP then the iPod's larger screen and better browser may be important.
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Sorry for the huge review, but I'm really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it's the right choice for you.
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If you're still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you'll know which is right for you.
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Between me and my husband we've owned more MP3 players over the years than I can count, including Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, etc. But, the last few years I've settled down to one line of players. Why? Because I was happy to discover how well-designed and fun to use the underappreciated (and widely mocked) Zunes are.
Good luck getting people behind this one. Though you make some VERY fascinating points, youre going to have to do more than bring up a few things that may be different than what weve already heard. What are trying to say here? What do you want us to think? It seems like you cant really get behind a unique thought. Anyway, thats just my opinion.
The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it'll do even better in those areas, but for now it's a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod's strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.
Between me and my husband we've owned more MP3 players over the years than I can count, including Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, etc. But, the last few years I've settled down to one line of players. Why? Because I was happy to discover how well-designed and fun to use the underappreciated (and widely mocked) Zunes are.
I was wondering if you ever considered changing the layout of your blog? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two images. Maybe you could space it out better?
The Zune concentrates on being a Portable Media Player. Not a web browser. Not a game machine. Maybe in the future it'll do even better in those areas, but for now it's a fantastic way to organize and listen to your music and videos, and is without peer in that regard. The iPod's strengths are its web browsing and apps. If those sound more compelling, perhaps it is your best choice.
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Hands down, Apple's app store wins by a mile. It's a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I'm not sure I'd want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
Hands down, Apple's app store wins by a mile. It's a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I'm not sure I'd want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
Hands down, Apple's app store wins by a mile. It's a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I'm not sure I'd want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
Hands down, Apple's app store wins by a mile. It's a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I'm not sure I'd want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass' favor.
Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass' favor.
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This is getting a bit more subjective, but I much prefer the Zune Marketplace. The interface is colorful, has more flair, and some cool features like 'Mixview' that let you quickly see related albums, songs, or other users related to what you're listening to. Clicking on one of those will center on that item, and another set of "neighbors" will come into view, allowing you to navigate around exploring by similar artists, songs, or users. Speaking of users, the Zune "Social" is also great fun, letting you find others with shared tastes and becoming friends with them. You then can listen to a playlist created based on an amalgamation of what all your friends are listening to, which is also enjoyable. Those concerned with privacy will be relieved to know you can prevent the public from seeing your personal listening habits if you so choose.
If you're still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you'll know which is right for you.
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If you're still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you'll know which is right for you.
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Cons: Feels like a first-generation version of a new product line rather than a sequel to the iPod nano. Video, gaming, camera, speaker, and microphone features are amongst a laundry list of capabilities dropped from the new model, precluding it from being used as a complete or even substantial replacement for its three most recent predecessors, primarily by users with video needs. New glossy body colors are weaker than ones introduced in last two years. Multi-Touch screen has only one multi-touch gesture, lacking for others that might have made the device more interesting, while the lack of physical Home and track control buttons complicates the device’s ease of use; plenty of swiping is necessary. Use of clip, as well as connection and disconnection of accessories, can be a modest challenge while the device is being used.
Pros: A smaller touchscreen revision of Apple’s mid-priced flash RAM media player, available in seven colors. New user interface mimics the iOS operating system of the iPhone and ipod touch, using swipe and tap gestures for most of the device’s controls, while using album art and wallpapers to nicely fill the screen with color. Integrated FM radio, pedometer, and accelerometer components carry over from the prior-generation iPod nano, along with sufficient 8GB and 16GB storage capacities. Includes an integrated clip that renders it instantly wearable. Superior audio battery life and volume to predecessors; remains compatible with Dock Connector accessories, including the Nike + iPod Sport Kit.
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Hands down, Apple's app store wins by a mile. It's a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I'm not sure I'd want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
Sorry for the huge review, but I'm really loving the new Zune, and hope this, as well as the excellent reviews some other people have written, will help you decide if it's the right choice for you.
I'll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)
If you're still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you'll know which is right for you.
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Hands down, Apple's app store wins by a mile. It's a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I'm not sure I'd want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.
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If you're still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you'll know which is right for you.
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