Last updated 21 July 2016

Countries With The Highest Minimum Wage

 

Countries With The Highest Minimum Wage

 

When job-hunting, one large factor that plays a role in whether or not you will accept the job is the salary. The amount of wages that are earned in a day is something that is usually taken into serious consideration before accepting a job. It’s important to keep in mind that salaries around the world vary as it depends on the country. Here are some countries around the world that are renowned for having the highest minimum wage: 

 

The Netherlands

In Europe, it’s the Netherlands which has the highest standard minimum wages, although this depends on a person’s age and set of skills. Employees that are over 23 years old usually make a minimum of €66.77 per day. With its developed, bustling economy, the Netherlands is commonly found in the top 20 list of GDP (for PPP and nominal) per capita. It helps that the Dutch provide their employees with plenty of bonuses and benefits, which can increase the annual figure significantly.

 

Belgium

Belgium is one the founders of the European Union (EU) and hosts its headquarters as well, which adds to its lively, globalized economy. In Belgium, the minimum wage considers a person’s experience and age, but covers workers aged 21 and over. Between the ages of 21 and 22, wages are set to increase from a minimum of €1,501.82 to €1,559.38 per month, as long as workers are able to remain employed for a year. This makes Belgium have the second-highest minimum wage in Europe.

 

Australia

With Australia’s developed economy and high standard of living, it’s no surprise that its minimum wage is one of the highest in the world. In June 2014, Australia’s Fair Work Commission increased the national minimum wage to A$16.87 per hour. It’s worth noting that the Australian national minimum wage is defined to be “the minimum wage that applies to employees who are award and agreement free.” 

 

Canada

Thanks to Canada’s mixed, globalized economy that is tied to the United States, the minimum wage normally ranges from C$9.50 to C$11 per hour. However, it is worth noting that the minimum wage in Canada largely depends on the province and territory. Canada also features one of the lowest levels of income inequality in the world.

 

Knowing the various minimum wages can help you decide on which country to live in if you’re planning to move abroad. Being able to live in a country that offers you the highest minimum wage may be useful if you wish to make the most out of working overseas.

 

 

Related expat articles

Investor – know thyself