Indian employees are paid nearly 20 times less than their counterparts in the U.S. and Switzerland. According to the ‘Prices and Earnings‘ study conducted by the Swiss banking major UBS, employees in New Delhi and Mumbai earn an average net salary of $1.6 and $1.2 per hour respectively. In contrast, Swiss cities Zurich and Geneva have topped the charts with the highest average net incomes in the world of as much as $22.60 and $20.40 per hour.

The report states that Swiss workers earn the most with Zurich and Geneva topping the rankings in an international comparison of wages. Workers in the US also earn at the higher end of the bracket, with people in New York earning an average salary of $19 per hour and those in Los Angeles $13.90 per hour. Workers in London receive an average net wage of $13.90 per hour.

In terms of the gross hourly wages, workers in Western Europe and North America have the highest gross hourly wages averaging at $20.2 and $21.0 respectively, the survey says. While in Asia and Eastern Europe workers receive an average of $5.5 per hour before taxes and social security contributions are deducted from the salary.

UBS’ report is a global review of the prices of goods and services, wages, payroll taxes, working hours, and purchasing power in 73 cities on every continent. The survey also points out that earnings do not just differ from country to country but also vary among employers within a single city. However, the earnings gap between public and private sector jobs is particularly stark in emerging and developing countries, it adds.