It has higher salaries for privileged people like senior engineers. Try making ends meet in a lower class job.
And you have (almost) free and universal healthcare in Europa, good food available everywhere, drinking water that doesn't poison you, walkable cities, good public transport, somewhat decent police and a functioning legal system. The list goes on. Does this not impact your quality of life? Do you not care about these things?
How can you have a higher quality of life as a society with higher murders, much lower life-expectancy, so many people in jail, in debt, etc.
I work as a senior engineer in Europe and make barely $4k net per month... and that's considered a "good" salary!