We will be discussing a dicey topic today and it is centered on 10 Countries with the Highest Minimum Wages in the World. Many people often surf the internet to find out Which Country has the Highest Minimum Wage in the World?
In the bid to provide you with answers to this question, we began to make our findings and have finally come up with 10 countries paying the highest minimum wages in the world. read through to the end to find out the countries that made the list.
10 Countries with the Highest Minimum Wages in the World
Minimum wages as defined by International Labour Organization (ILO) is the minimum amount of remuneration an employer is expected to pay wage earners in turn for the work done during a given period, which cannot be abridged by collective agreement or an individual contract.
Before minimum wage is set, there are factors put into consideration. These include job security, cost of living, climatic conditions, account relocation, medical benefits, and other factors.
You also need to know that employers are expected to pay the exact minimum wage or slightly above it. importantly, employers cannot pay employees less minimum wage set by the government.
With the above understanding of what minimum wage is about, we will now look at 10 Countries with the Highest Minimum Wages in the World. Check out the list below.
1. Luxembourg
Continent Located: Europe
Minimum Wage: $14.12
For those interested to find out Which Country has the Highest Minimum Wage in the World, Luxembourg Minimum Wage is the highest in the world with a minimum wage of $14.12.
The country is one of the smallest and most sparsely populated countries in the world. However, it is the richest country in the world with an average GDP per capita of $79,593.91.
2. Australia
Continent Located: Australia
Minimum Wage: $13.47
Australia is the next country with the highest minimum wage in the world. many employees in the country work based on an `award’ which is usually determined by an employee’s location, age, and the industry of employment.
However, the stated minimum wage only applies to Australian workers who are 21 years and older and are not under an `award’ or `agreement’. The minimum wage for Australian employees below 21 years and working under no `award’ is less than the normal minimum wage of the country.
3. Ireland
Continent Located: Europe
Minimum Wage: $11.92
Ireland occupies the third spot on our list of 10 Countries with the Highest Minimum Wages in the World with a minimum wage of $11.92. The country has grown to have a formidable economy that often attracts workers from around the world.
However, the minimum wage is effective for employees that are under the age of 18. Those below the age of 18 earn 70% of the set minimum wage.
4. France
Continent Located: Europe
Minimum Wage: $11.83
France is one of the oldest countries in the world and a superpower country in the world presently. France has a stable and ever-growing economy that attracts workers from around the world to migrate to the country. More so, the country is a tourist destination with thousands of visitors and tourists visiting the country every year.
However, employees in the French nation are paid the minimum wage of $11.83 per hour.
5. New Zealand
Continent Located: Oceanic
Minimum Wage: $11.58 Per Hour
New Zealand is another country in the Oceanian continent to make the list occupying the fifth spot. The country is well known for its vast exportation of meat, wool, and dairy products.
New Zealand has an impressive minimum wage that is attractive and employees are paid an hourly wage of $11.58 or higher.
6. Netherlands
Continent Located: Europe
Minimum Wage: $11.26
The Kingdom of Netherlands also known as Holland is a country in North-West Europe with the sixth-highest minimum wage in the world. The country has one of the best economies in the world which afford it the advantage to pay such a huge minimum wage.
7. Germany
Continent Located: Europe
Minimum Wage: $11.03 Per Hour
Germany is also one of the 10 Countries with the Highest Minimum Wages in the World. It is not surprising that Germany made the list considering its stable and healthy economy plus its influence in the world in terms of sports, education, healthcare, economy, technological advancement, resources, and military firepower.
8. Belgium
Continent Located: Europe
Minimum Wage: $8.57
Belgium is famously known for its junk food and exciting national cuisines and now it made our list with the eight highest minimum wages in the world with a minimum wage of about $8.57.
Despite being a small country, Belgium has one of The best economies on the continent and it is blessed with natural resources like limestone and silica sand that are largely exported to boost the country’s GDP.
9. Canada
Continent Located: North America
Minimum Wage: $8.12 Per Hour
Canada is a North American country and the second-largest country in the world by land area. The country is currently a destination for many workers who troop to the country to enjoy greener pastures. That is because the country is open to individuals ready to add value to the country for national growth.
Workers in Canada earn handsomely and are paid a minimum wage of $8.12 per hour, making it the ninth country on our list of countries with the highest minimum wages in the world.
Read Also: Top 10 Richest Provinces In Canada
10. United Kingdom
Continent Located: Europe
Minimum Wage: $10.27 Per Hour
The United Kingdom occupies the tenth spot on our list. Employees in this country that are 21 to 24-year-old age group and more earn a minimum wage of $10.27 per hour. Meaning this is the least amount a legal worker in the United Kingdom can be paid per hour.
Read Also: The 10 Richest Countries In Africa (GDP Per Capita)
Conclusion
We have come to the end of our discussion about the 10 Countries with the Highest Minimum Wages in the World. You can work your way to any of these countries and begin to earn the minimum wage you desire.