In this article, we will look at 5 countries with the highest minimum wage in the world. We have also discussed an interesting analysis on wages globally along with some companies that provide fair wages even in rising inflation in another article. If you are interested in reading about that, along with a more extensive list, head straight to 20 Countries with the Highest Minimum Wage in the World.
5. United Kingdom
Minimum Hourly Wage: $13.32
Similar to many European countries, the hourly minimum wage in the United Kingdom is tiered based on the worker’s age. Only workers over 23 years are entitled to earn a living wage, i.e., $13.32, while workers under 23 qualify for a smaller wage. It is one of the countries with the highest minimum wage in the world. It is also one of the countries with the best education.
4. New Zealand
Minimum Hourly Wage: $13.90
In April 2023, New Zealand saw an increase in its national minimum wage by $0.92, with the minimum hourly wage reaching from $12.9 to $13.9 for an adult employee working 40 hours a week. However, the salary differs for either starting or being trained. New Zealand is also considered one of the hardest-working countries in the world, owing to its strong work ethic and punctuality. They also tend to have fewer organizational layers at their workplaces.
3. Netherlands
Minimum Hourly Wage: $14.08 (estimated)
Instead of being calculated per hour, the Netherlands’ minimum wage is determined daily, weekly, or monthly, depending on the job’s nature. With working hours being 36, 38, or 40 per week, all the employees aged 21 and above receive a minimum wage of around 460.4 euros ($507) weekly. Netherlands has one the lowest working hours in the world. The country has recently seen a surge in the number of individuals working part-time.
2. Luxembourg
Minimum Hourly Wage: $15.12
This small landlocked country has a gross monthly wage of approximately $2,750 for unskilled employees aged over 18. Being the wealthiest country in Europe with an excellent economy and GDP per capita of about $126,426.1 as of 2022, the country allows for high minimum wages and a high standard of living. It is the country with the highest minimum wage in Europe. Moreover, locals in Luxembourg are often known for their attention to detail and punctuality at work.
1. Australia
Minimum Hourly Wage: $15.46
With a minimum wage of $15.46 per hour, Australia is ranked as the top country with the highest minimum wage in the world in 2023. All workers aged over 21 are entitled to this pay. However, the pay differs for workers under 21, apprentices, and disabled workers. It is also one of the countries with the highest standards of living for 2023. Australia has one of the most social work cultures in the world.
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