I have family in Europe. Everything is more expensive. But they also make more there. So it balances out.
Let's say we get paid $9 and hour here.
You would get 9 pounds over there. If my math is correct, that converts into $14.76.
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I believe minimum wage in the UK is around £6.50 which is roughly $10 an hour. However, it still doesn't negate the fact that the Dollar to Sterling conversion should be around £26... not £40.