Are UK wages actually half of wages in the US for similar jobs, or is there a factor which narrows the gap in spending power?

When comparing wages between the UK and the US, it is important to consider factors beyond just the numerical value of the wages. One important factor to consider is the cost of living in each country. While wages in the US are often higher in absolute terms, the cost of living in many parts of the US is also higher than in the UK. This means that the spending power of those wages may not actually be as different as it may seem at first glance.

My grocery bill was between 50 and 60% lower. My utility bills were about 1/4 of what they were in the US. Clothing was cheaper. Electronics were far more expensive, but I brought mine and an electrician re-wired my stuff to handle UK outlets and voltage for about 1/2 the cost of buying new stuff- and still a bit cheaper even with paying for shipping my stuff across the pond. Gas (petrol) was more expensive, but I hardly drove, and almost never out of necessity. Rent was roughly the same, maybe a bit cheaper. Eating out was far cheaper in the UK. Put very simply, necessities were much cheaper while luxuries were a mixed bag leaning slightly more expensive.

I wouldn't go so far as to say my costs were 50% of those in the US. They were probably 30-40% lower overall, more than offsetting the lower overall salary.

Additionally, other factors such as taxes, benefits, and access to healthcare and other social services can also impact the overall standard of living for individuals in each country. It is also worth noting that the UK and the US have different social welfare systems and labor regulations, which can further impact the overall compensation package and work-life balance for individuals in each country.