The Top 5 Countries with the Highest Minimum Wage in the World
The interprofessional minimum wage, commonly known as the SMIC (Salaire Minimum Interprofessionnel de Croissance), is the minimum hourly wage below which no employee over 18 years old can be paid.
Here is a selection of the top 5 countries with the highest minimum wage in the world:
1. Switzerland
Switzerland has the highest minimum wage in the world. As of 2022, an employee earning the minimum wage is paid 24 Swiss francs per hour, equivalent to €23.67 per hour. To keep up with inflation, the Swiss minimum wage has increased since January 1, 2023. An employee earning the minimum wage in Switzerland now receives 4,368 Swiss francs per month, equivalent to €4,444 gross.
2. Luxembourg
Luxembourg has just unanimously adopted a 2.6% increase in the social minimum wage, which will take effect on January 1. From 2025, the non-qualified social minimum wage (SSM) in Luxembourg will be €2,638 (approximately $2,743 USD) for a full-time job.
3. Australia
The national minimum wage in Australia is AU$21.38 per hour, which corresponds to AU$812.60 per week for a 38-hour workweek (before taxes), equivalent to approximately AU$3,250 (approximately $2,025 USD).
4. Monaco
As of November 1, 2024, the minimum wage in Monaco will increase to €11.88 per hour (for 39 hours per week), equivalent to €463.32 per month (for 39 hours per week, or 169 hours per month), equivalent to €2,007.72 (approximately $2,086.88 USD).
5. The Netherlands
The minimum wage in the Netherlands has increased to €2,389.44 per month in the third quarter of 2024, compared to €2,069.96 per month in the first quarter of 2024.
Note that the minimum wage in Tunisia is set at 491.504 dinars for a 48-hour workweek and 417.558 dinars for a 40-hour workweek.
