Minimum Wage by Country: Global Guide for 2024

This article outlines the minimum monthly wages for a full-time employee in 72 countries across EMEA, NA, LATAM, and APAC.

The minimum wage is the lowest monetary compensation that an employee may legally receive for hourly work, and doesn't usually apply to independent contractors. If your organization hires an employee from another country, you must adhere to the minimum wage laws where the employee resides, not where your company is located.

The non-exhaustive lists below outline a wide variety of countries with the lowest, moderate, and the highest monthly minimum wages. Wages are listed in both USD and the local currency, based on 2024 exchange rates to help you compare countries and indicate the local currency's purchase power.

Countries with the lowest minimum wages (below $500 USD per month)

Countries with a moderate minimum wage, between $500 and $1,000 USD per month

Countries with the highest minimum wage, above $1,000 USD per month

Countries with no specified minimum wage

The following countries don't have a government-mandated minimum wage:

• Denmark:
• Finland
• Iceland
• Italy (some sectors)
• Norway
• Sweden
• Switzerland
• Norway

However, this doesn't translate into cost-savings for employers. Wages are negotiated and set through collective bargaining agreements between employers and trade or labor unions.

To explore and benchmark localized, industry-specific salaries across 150+ countries, use [Deel's Global Salary Insights tool](https://www.deel.com/salary-insights].

Limitations of comparing the minimum monthly wage per country

Employers should consider the following limitations of the country data shared above:

Variable minimum wages

The minimum monthly wages outlined are based on a full-time employee, aged over 18. The minimum salary entitlement often varies, based on factors such as:

• Sector
• Employee age
• Benefit in kind received
• Region
• Level of education
• Role type
• Internship, apprenticeship, or student status

Currency

The USD equivalent to local currency varies, dependent on exchange rates. Employees should usually be paid in their local currency, but exemptions may apply.

Working hours per week

Each country's minimum monthly wage is based on the average number of working hours per week. This varies between countries, ranging from 35 hours per week in France to 48 in Peru. This should be considered when calculating hourly salaries.

Salary payment installments

The article lists monthly salaries based on the number of payments, which varies between countries. Typically, monthly salaries are paid across 12 annual installments. However, a 13th salary, or a 13th and 14th salary payment are mandatory in some countries. For example:

• It's mandatory to pay an employee a 13th base salary in Brazil, and it's typically paid in two installments, in November and December. In the Philippines, the mandatory 13th base salary is usually paid in December.
• Employers in Greece must pay employees' annual base salaries in 14 payments, with extra payments typically made around Easter, summer, and Christmas. Similarly, in Portugal, the base salary is divided into 14 payments and extra payments are made around Christmas and the summer holidays.

These practices are often mandated by law or collective bargaining agreements and are considered part of the employee's regular compensation, not a bonus. In other countries, paying salaries in 13 or 14 payments is customary but not mandatory. It can vary across companies and industry sectors, and may include bonuses as well as base pay. To remain compliant with local labor laws, employers should verify how many salary payments per year are required for their country and industry, and the number of installments the listed minimum monthly wage applies to.

Other employee costs to consider

In addition to the minimum wage, employers must be aware of other costs associated with hiring in a particular location. Mandatory employee benefits and paid and unpaid leave entitlement vary between countries, as well as corporate tax rates and mandatory contributions.

Stay compliant with local labor laws with Deel

Staying compliant with local employment laws (like minimum wages) is the number one concern for many employers wanting to hire internationally. Still, it shouldn’t stop you from diving into the global talent pool.
 
Deel generates employment contracts that comply with local regulations for every international employee and independent contractor. You don’t need to learn a new set of rules each time you hire in a new country: we take care of it for you.
 
Book a demo today to streamline international hiring, compliance, and payroll.