Two recent surveys found that senior managers in Brazil earn more than their counterparts in New York, London, Singapore or Hong Kong, according to a report in the Economist. And the comparison doesn’t take into account the generous bonuses Brazilians receive, nor the fact that companies fork out more per salary dollar because payroll taxes rank among the highest in the world. One reason for this pay differential may be a the lack of well-educated Brazilian professionals. According to an employment agency called Manpower, 64 percent of employers in Brazil say they have difficulty filling vacancies, compared to 40 percent China, and just 16 percent in India. And Brazil’s overvalued currency, which continues to gain against the dollar, may also be inflating salaries in any international comparison.