If you want you need an adequate idea of the quality of life of one of the 192 United Nations member countries look no further than their minimum wage rate. Every year, the minimum wage is calculated and recorded in every country from Afghanistan to Zimbabwe. Sounds easy doesn’t it? Well, not really. Some countries have several minimum wage rates. India for example has over 1,200 different minimum wage rates. Anyway, when you look at the gross wages (money before taxes) you can get a good idea of how much people are making. Remember, we said adequate picture of quality of life. Things that should also be considered is cost of living, paid days off, public holidays, sick pay and annual leave. The United States, for example, has a respectable minimum wage, but what you don’t see is we’re one of the toughest countries with the aforementioned perks. For the record, the US minimum wage is $15,080. Here’s a quick snap shot of the highest minimum wage rates in the world…
5.) Belgium – $23,104
With an average work week of 38 hours, those collecting minimum wage make what is the equivalent to about $11.70 per hour. That wage rate is coupled with extensive social benefits making Belgium a very nice place to live.
4.) New Zealand – $24,098
New Zealanders are working the same amount of hours per week as most of us in the United States but making almost $10,000 more annually. Here’s an interesting fact – the average minimum wage in New Zealand is $11.59 per hour. However, if you’re over 18-years old it jumps to $14.25. Not bad right?
3.) Monaco – $26,016
The sovereign citystate of Monaco is well-known throughout the world for its high-class elegance. It should come as no surprise that the minimum wage is also one of the tops in the world. Those pulling minimum wage in Monaco are making $12.83 an hour in a 38-hour work week. You better make money in Monaco because it boasts the highest GDP per capita in the world.
2.) Luxemberg – $29,611
Staying small, the wealthy little country of Luxemberg has a minimum wage of $14.24 for those working 40 hours a week. You may want to work on your skills because the minimum wage rate increases 20% when you’re skilled.
1.) Australia – $33,355
Australia as the best minimum wage system in the world. Working a 38 hour work week and making $16.88 an hour would get your a lot further in the United States, but in Australia that’s pretty much where you start. Most employees are covered by an award, which grants the same wage rate to all employees in the same industry at the same level.
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