It turns out that the Big Mac is more than just its famed description as “a double layer of sear-sizzled 100% pure beef mingled with special sauce on a sesame seed bun and topped with melty American cheese, crisp lettuce, minced onions and tangy pickles.” According to The Economist, it’s actually a valid economic indicator of relative prices across countries. The Big Mac Index, created by the magazine in 1986, is a lighthearted way of measuring if a country’s currency is at its “correct level” based on purchasing-power parity.
That’s cool and all, but with the recent turmoil in the fast food world over workers’ ability to live off of tawdry paychecks, strategists at ConvergEx group made a slight modification to the index to make it a bit more applicable to current conversation. Through some magical math voodoo, they are now able to demonstrate how many hours of work at minimum wage it takes to earn the price of an actual Big Mac (their results are displayed in the picture above).
Surprisingly, it takes longer than expected. American fast food workers have to work nearly twice as long as their counterparts in Australia. They get off easy, however, compared to those in India who have to sling burgers for nearly six hours just to be able to afford one.
[via Business Insider]