Australia:Having it all?

Huge salary packages don't necessarily guarantee a happy or healthy life, according to a report on global salaries.

The survey, conducted by Management Today magazine, suggested Australia had the most compelling overall package - although ranked only third in terms of average executive pay it combines this with one of the highest qualities of life and cheap cost of living.

"Behind the laid-back images of beaches and barbeques, there beats a hard commercial heart," said the report.

Chief Executive Pay (�/pa) US - �1,182,256 UK - �408,993 Australia - �334,691 France - �317,566 Japan - �310,863 Germany - �278,360 Sweden - �253,205 Source:Towers Perrin

The US and UK ranked first and second respectively for "fat cat" salaries, but also have the highest obesity rates and lowest life expectancies.

Amid increasing criticism of boardroom excesses on both sides of the Altantic, the report adds: "High earnings aren't all they're cracked up to be."

Spain, by contrast - where salaries are significantly lower and GDP figures are among the lowest in Europe - takes the top spot for job satisfaction.

"They're poor but happy," said Andy Saunders, the author of the report.

Hungry for cash

Mr Saunders told BBC News Online the report highlighted the cultural differences between individual countries.

"A lot of it is down to what's deemed acceptable.

Working week (hrs) Hong Kong 45hrs UK 43.5hrs US 40hrs Sweden 40hrs Germany 39.9hrs Spain 38.3hrs Source:EIRO/various

"In America, for example, it's okay to be nakedly greedy about money and it's seen as a good thing to be ambitious for money."

Sweden, by contrast, is a country where money-matters remain discreet and the difference between the highest and lowest paid executive is relatively small.

"But quality of life is very important and there is a bigger social support network," said Mr Saunders.

Ticket to riches?

What [the report] is really telling us is that English speaking countries are a ticket to a higher wage Andy Saunders, Management Today

Despite other countries' emphasis on quality of life, Mr Saunders said there was no sign of British workers 'downsizing' or changing their priorities.

"I don't see much evidence of that. We're still doing the longest working hours in Europe."

He added that the UK was in the "ambiguous position" between the US and Europe in terms of its outlook.

"What [the report] is really telling us is that English-speaking countries are a ticket to a higher wage."

All employees

Even within the UK, however, attitudes to work vary considerably.

BEER MONEY - price of lager Sweden �2.35 UK �2.20 France �2.00 US �1.80 Germany �1.80 Australia �1.50 Source:Thebackpacker.net

Only 11% of white workers are self-employed compared with 25% of Pakistani workers and 14% of Indian workers.

But average male weekly earnings for Pakistani workers are �150 lower than their white counterparts, against just �5 lower for Indian workers.

The report suggests Britain and the US could learn a lot from India itself.

While British and US executive pay packages continue to soar, despite falling profits and an ever-growing list of scandals, the Indian approach is more relaxed.

"In India, we don't see big payoffs for departing executives because there is a culture of self-restraint here," said Ashank Desai, chairman of Mastek, a Mumbai-based software firm.

"After all, everyone is an employee, even the chief executive."