Everyone works for minimum wage at some point in their working careers. Minimum wage is defined as the lowest wage permitted by law. It varies across the country and around the world. Making minimum wage isn’t ideal, but it does mean that you’ve got a job and are collecting a paycheck. That’s a good thing, right?
Ideally we all want to make six figure incomes, but many of us start working at minimum wage jobs. It’s just a way of life. Minimum wage jobs are a necessary part of our economy and we all have to put in our time in those positions. It’s a part of the working world’s reality.
It’s super difficult to compare minimum wages around the world. Every country determines minimum wage differently. It may be based on region, industry, collective bargaining, or age. Other countries don’t even have a minimum wage. Some places have a high cost of living and others have no minimum wage enforcement at all. With so many variables, it’s hard to compare minimum wages.
As you can see, calculating minimum wage across the world is a challenging task. The Richest has made a noble attempt at compiling a list of the highest annual minimum wages in the world. They have converted their list to US dollars and have not included any mandatory deductions like taxes, welfare, or social security.
Here are the highest minimum wages per year in the world:
10. Switzerland – $15,457 per year
9. San Marino – $15,707 per year
8. New Zealand – $16,462 per year
7. Canada – $16,710 per year
6. France – $17,108 per year
5. United Kingdom – $18,428.24 per year
4. Belgium – $18.813 per year
3. Ireland – $18,965 per year
2. Luxembourg – $19,426 per year
1. Netherlands – $23,029 per year
It’s interesting to look at which countries pay their minimum wage workers the most, isn’t it? Do you know what the minimum wage is where you live? If you live in the US, find out from the Department of Labor. You can also learn a lot about minimum wage from MinimumWage.com.
If you’re planning to make minimum wage and would like to make a bit more bang for you buck, maybe you should work in one of the countries with the highest minimum wages. Start looking into work visas to see if you can work in the country of your choice. Then it’s time to apply for jobs. Best of luck!