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Minimum Wage by Country in 2024: A Guide for Global Employers

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Global expansion empowers companies to take advantage of various growth opportunities, such as access to new markets, lucrative tax incentives, and engaging a larger talent pool.

However, to avoid fines, damaged business reputation, and even jail time, global businesses must comply with minimum wage requirements in each jurisdiction in which they operate.

Understanding wage requirements worldwide is also critical for measuring total employee costs as you plan for and build a distributed workforce.

Read this guide for a breakdown of minimum wage requirements by country and region. Plus, learn how partnering with a global expert eliminates compliance risks when hiring internationally.

10 countries with the highest minimum wages

Minimum wage requirements vary drastically worldwide. Below is a list of countries that offer the highest minimum wages in the world.


Luxembourg offers the highest minimum wage of any country worldwide at US$3,357 (€3,085) per month for skilled talent over the age of 18.

Unskilled talent and talent under the age of 18 receive a lower monthly minimum wage:

  • Unskilled workers 18 years of age and older: US$2,798 (€2,571) 
  • 17 to 18 years of age: US$2,238 (€2,057) 
  • 15 to 17 years of age: US$2,098 (€1,928) 

The Netherlands

The Netherlands’ hourly minimum wage is US$14.44 (€13.27), or US$2,425 (€2,229) per month for adults over the age of 21. Talent under the age of 21 receives a lower minimum wage:

  • 20 years of age: US$1,722 (EUR 1,596)
  • 19 years of age: US$1,292 (EUR 1,197)
  • 18 years of age: US$1,077 (EUR 998)
  • 17 years of age: US$850 (EUR 788)
  • 16 years of age: US$743 (EUR 688)
  • 15 years of age: US$646 (EUR 599)

New Zealand

New Zealand’s minimum wage is US$13.90 (NZ$22.70) per hour for workers 16 years of age and older, or about US$2,335 (NZ$3,814) per month.  

The monthly minimum wage for New Zealanders in training or starting a new job is US$11.11 (NZ$18.16) per hour, or about US$1,866 (NZ$3,051) per month.


Australia’s minimum wage is US$15.23 (AU$23.23) per hour for adults over the age of 21 or about US$2,315 (AU$3,531) per month.


Germany’s hourly minimum wage is US$13.50 (€12.41), or US$2,269 (€2,085) per month. 

United Kingdom

The U.K. applies two minimum wage structures: the National Living Wage and the National Minimum Wage.

The current National Living Wage guarantees US$13.23 (£10.42) per hour to talent 23 years of age and older, or roughly US$2,223 (£1,751) per month. In April 2024, the National Living Wage will increase to US$14.45 (£11.44) per hour, or US$2,440 (£1,922) per month, applicable to talent aged 21 and over.

The current National Minimum Wage applies to talent aged 18 to 22 and is adjusted as follows:

  • 21 to 22 years of age: US$12.64 (£10.18) per hour, or about US$2,124 (£1,710) per month
  • 18 to 20 years of age: US$9.30 (£7.49) per hour, or about US$1,562 (£1,258) per month
  • Under 18: US$6.55 (£5.28) per hour, or about US$1,100 (£887) per month

In April 2024, the U.K. government will also change the National Minimum Wage accordingly:

  • 21 to 22 years of age: This age bracket will disappear, as individuals aged 21 and over will qualify for the National Living Wage
  • 18 to 20 years of age: US$10.86 (£8.60) per hour, or about US$1,824 (£1,445) per month
  • Under 18: US$8.09 (£6.40)  per hour, or about US$1,359 (£1,075) per month

Additionally, the minimum wage of US$6.55 (£5.28) per hour currently applies to anyone under 19 years of age working as an apprentice or over 19 and in their first year of apprenticeship. However, in April 2024, it will increase to US$8.09 (£6.40) per hour. 


Belgium’s monthly minimum wage is US$2,171 (€1,995).


Ireland’s hourly minimum wage is US$16.04 (£12.70), or US$2,695 (€2,134) per month, for talent 20 years of age and older. Talent under the age of 20 receives a lower minimum wage:

  • 19 years of age: US$2,089 (€1,920) per month
  • 18 years of age: US$1,857 (€1,707) per month
  • Under 18: US$1,626 (€1,494) per month


Previously, Canadian employers were only subject to the minimum wage requirements of the province or territory where they operated.

However, in December 2021, Canada adopted a nationwide basic federal minimum wage of US$11.10 (CA$15.00) per hour for employees in federally regulated private industries, such as banking, postal services, and interprovincial transportation.

Today, the federal minimum wage in Canada is US$12.32 (CA$16.65), or about US$2,070 (CA$2,797) per month.

However, on April 1, 2024, the Canadian government will raise it to US$12.70 (CA$17.17) per hour or US$2,134 (CA$2,885) per month. 


The minimum wage in France is $12.65 (€11.65) per hour or $1,918 (€1,767) per month.


Israel offers a different minimum wage for hourly, daily, and monthly wages. The hourly minimum wage in the country is US$7.91 (ILS 29.95) for individuals who work 186 hours per month and US$8.08 (ILS 30.61) for those who work 182 hours per month.

Daily employees who work five days per week earn a minimum of US$67.89 (NIS 257.16) per day, and those who work six days per week earn a minimum of US$58.83 (NIS 222.87) per day. Employees who earn a monthly wage are guaranteed a monthly minimum of US$1,471 (ILS 5,572).

United States

The national minimum wage in the United States is US$7.25 per hour or about US$1,218 per month. However, states may set minimum wages above the federal floor level at their own discretion.

For example, Washington offers the highest minimum wage of all 50 U.S. states at US$16.28 per hour or about US$2,735 per month.

10 countries with the lowest minimum wages

Below is a list of countries that offer the lowest minimum wages in the world.


India’s Code on Wages Bill of 2019 establishes a national minimum wage of US$2.12 (INR 176) per day or US$45 (INR 3,696) per month. However, minimum wages vary depending on skillset, industry, and place of employment.


Nigeria’s minimum wage is one of the lowest in the world, at US$76 (NGN 65,000) per month.


Uzbekistan’s monthly minimum wage is US$80 (UZS 980,000).


Pakistan’s monthly minimum wage is US$114 (PKR 32,000).


Armenia’s monthly minimum wage is US$187 (AMD 75,000).


Kazakhstan’s monthly minimum wage is US$188 (KZT 85,000).

The Philippines

The minimum wage in the Philippines varies by region, ranging from US$6.10 (PHP 341) per day in the ARMM region to US$10.91 (PHP 610) per day in the National Capital Region, or about US$128 (PHP 7,161) to US$229 (PHP 12,810) per month.


Ukraine’s monthly minimum wage is US$177 (UAH 6,700).


Vietnam applies two minimum wage structures: the common monthly minimum wage and the Regional Minimum Wage.

The common monthly minimum wage applies to public employees only and amounts to US$73 (VND 1,800,000).

The Regional Minimum Wage applies to private employees and ranges from US$140 (VND 3,445,000) to US$202 (VND 4,960,800) per month, depending on the region.


Monthly minimum wages in Indonesia vary by province, ranging from US$130 (IDR 2,036,947) in Central Java to US$325 (IDR 5,067,381) in DKI Jakarta.

Read more: The Complete Guide to Employee Cost

Minimum wages by region

Below, we list countries with the highest and lowest monthly minimum wages in each region of the world.


Highest Minimum Wages

  • Luxembourg: US$3,357 (€3,085)
  • Netherlands: US$2,425 (€2,229)
  • Germany: US$2,269 (€2,085
  • United Kingdom: US$2,223 (£1,751)
  • Belgium: US$2,171 (€1,955)

Lowest Minimum Wages

  • North Macedonia: US$357 (MKD 20,175), rising to US$398 (MKD 22,500) in March 2024
  • Albania: US$420 (ALL 40,000)
  • Bulgaria: US$520 (BGN 933)
  • Turkey: US$664 (TRY 20,002)
  • Romania: US$721 (RON 3,300)


Highest Minimum Wages

  • South Korea: US$1,209 (KRW 1,616,160)
  • Japan: US$1,137 (JPY 168,336)
  • Taiwan: US$870 (TWD 27,470)
  • Hong Kong: US$860 (HKD 6,720)
  • China: US$364 (CNY 2,590)

Lowest Minimum Wages

  • Kyrgyzstan: US$28 (KGS 2,460)
  • Sri Lanka: US$39 (LKR 12,500)
  • India: US$45 (INR 3,696)
  • Myanmar: US$48 (MMK 100,800)
  • Tajikistan: US$55 (JS 600)

Latin and South America

Highest Minimum Wages

  • Costa Rica: US$696 (CRC 358,609)
  • Uruguay: US$567 (UYU 22,268)
  • Chile: US$499 (CLP 460,000)
  • Panama: US$490 (PAB 489)
  • Ecuador: US$460

Lowest Minimum Wages

  • Venezuela: US$3.61 (VEF 13,000,000)
  • Argentina: US$191 (ARS 156,000)
  • Nicaragua: US$191 (NIO 6,987)
  • Dominican Republic: US$253 (DOP 14,835)
  • Peru: US$276 (PEN 1,025)


Highest minimum wages

  • Tunisia: US$119 (TND 372)
  • Cape Verde: US$128 (CVE 13,000)
  • Algeria: US$148 (DZD 20,000)
  • South Africa: US$225 (ZAR 4271)
  • Mauritius: US$262 (MUR 11,575)

Lowest minimum wages

  • Tanzania: US$24 (TZS 60,000)
  • Ghana: US$32 (GHS 381)
  • Uganda: US$34 (UGX 130,000)
  • Angola: US$39 (AOA 32,181)
  • Madagascar: US$41 (MGA 184,653)


Highest Minimum Wages

  • New Zealand: US$2,335 (NZD 3,814)
  • Australia: US$2,315 (AUD 3,531)
  • New Caledonia: US$1,498 (CFP 165,032)
  • Guam: US$1,386
  • North Mariana Islands: US$1,218

Lowest Minimum Wages

  • Kiribati: US$143 (AUS 218)
  • Papua New Guinea: US$158 (PGK 588)
  • Salomon Islands: US$160 (SBD 1,344)
  • Samoa: US$183 (WST 504)
  • Fiji: US$301 (FJD 672)

North America

  • Canada: US$2,070 (CA$2,797) 
  • United States: US$1,218
  • Mexico: US$304 (MXN 5,229)

Sources: See News, Wage Indicator, Trading Economics, Zee Business

Countries without statutory minimum wages

Below is a list of countries that offer no minimum wage guarantees to their workforce. In many of these countries, employers set wages according to relevant collective bargaining agreements (CBAs) or union regulations within their industry.


The average minimum monthly salary in Denmark is about US$3,300 (DKK 22,600) per month.

CBAs establish minimum wages for about 84% of the Danish workforce, including most employees in the public sector and certain private industries, such as construction and hospitality.

El Salvador

There is no nationally mandated minimum wage in El Salvador. Instead, the country has minimum wages that vary across sectors. The minimum wage in El Salvador ranges from US$243 to US$365 per month, depending on the industry.


The average minimum monthly salary in Finland is about US$1,492 (€1,370). CBAs establish minimum wages for about 95% of the Finnish workforce.


The average minimum monthly salary in Iceland is about US$1,821 (ISK 250,000). CBAs establish minimum wages for about 90% of Iceland’s workforce as well. 


The average minimum monthly salary in Italy ranges from US$1,409 (€1,294) in the agriculture and mining sectors to US$2,370 (€2,176) in the finance and insurance sectors. CBAs establish minimum wages for around 95% of Italy’s workforce. 


The average minimum monthly salary in Norway is about US$1,906 (NOK 20,000).

The federal government establishes minimum wages for nine select industries, including construction, agriculture, and fishing, leaving worker’s unions to establish minimum wages for all other industries.   


The average minimum monthly salary in Singapore is about US$1,400 (SGD 1,881).

Singapore’s Progressive Wage Model (PWM) establishes minimum wages in specific industries, such as retail, cleaning, and security. However, in other sectors, employers usually agree on wages with relevant trade unions or employees during the hiring process.


The average minimum wage in Sweden is about US$1,704 (SEK 17,800) per month. Collective bargaining agreements in Sweden generally include minimum wage agreements, which vary widely between roles and industries.


The average minimum monthly salary in Switzerland US$24.28 (CHF 21) per hour or about US$4,080 (CHF 3,528) per month. 

Employers in Switzerland negotiate wages with their employees on individual bases. However, several Swiss cantons have established their own minimum wages, ranging from US$22 (CHF 19) per hour, or about US$3,696 (CHF 3,192) per month, in Ticino to US$28.15 (CHF 24.32) per hour, or about US$4,729 (CHF 4,086) per month, in Geneva

Ensure compliance with global minimum wage laws

Keeping track of minimum wage changes across multiple jurisdictions demands continuous attention and puts global companies at risk of fines, back pay, and the denial of employee work authorizations. Eliminate the risk by partnering with Velocity Global.

As a global employer of record (EOR), Velocity Global supports international companies throughout each stage of global expansion. We handle everything from hiring and onboarding to ensuring compliance and running global payroll on your behalf so you can build a distributed workforce and enter new markets without the added burden.

With expertise in local minimum wage and employment law in more than 185 countries, we ensure compliant international hires so you can recruit talent in any market with peace of mind.

Get in touch with Velocity Global today to learn how to navigate international markets and compliantly build global teams with ease.


Disclaimer: The intent of this document is solely to provide general and preliminary information for private use. Do not rely on it as an alternative to legal, financial, taxation, or accountancy advice from an appropriately qualified professional. © 2024 Velocity Global, LLC. All rights reserved.

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