The wages are indeed much lower than in US, atleast for me. However, I work in a company with a proper labour Union (IG Metal). I have 36 hours working time, any overtime will be paid 30% more than normal. I have extremely good health insurance. My kids get free education all the way to university ( and are part of my insurance until 24). The retirement is linked to the government, not the company. 30 days of compulsory holidays. Sick leaves are not counted.

With all this calculated, the salary sort of equalizes itself.