The minimum wage is the concept that defines the lowest payment an individual can receive in exchange for working for a company. In short, it is the minimum price that workers sell their labor to complete a specific task determined by its profession.
Besides determining how much workers will be paid at the minimum; this concept serves another purpose. It is directly related to the welfare of the community living in a country. Countries with the highest minimum wage are generally considered to have the best economies.
This is why many people prefer to migrate to these countries. However, you should also consider the customer price index. You may be making lots of money with the minimum wage compared to your country, but the prices of your daily needs will be high in the same portion.
Minimum wage is a concept that is determined by the government. None of the companies operating within the borders of the nation can pay less than this wage. In case such an action will be determined, the company or the business owner will be fined, and in some countries, he or she may even face jail time.
If you are unhappy in your current country and willing to migrate to a new one, then this guide will be quite beneficial for you. In the following section, we have compiled to top 20 countries with the highest minimum wage. Without a doubt, taking some of these countries on your list will be a radical decision for your welfare.
Minimum Wages by Country in 2021
Here are the top 20 countries, in which you can receive the highest minimum wage compared to other countries in the world. It will be worth noting that these are the minimum wages, which means that the least paycheck you can receive for your labors per hour.
If you have a degree or prior working experience, you can easily land better deals. In addition to this, some of these countries have a challenging time filling certain vacancies. If you will be able to find these positions, you can get paid more even they are paid at minimum wage.
- Luxembourg $13.78
- Australia $12.14
- France $11.66
- New Zealand $11.2
- Germany $10.87
- The Netherlands $10.44
- Belgium $10.38
- The United Kingdom $10.34
- Ireland $9.62
- Canada $9.52
- Israel $7.94
- The United States $7.25
- South Korea $6.84
- Spain $5.83
- Portugal $5.76
- Slovenia $5.72
- The Czech Republic $5.17
- Greece $4.98
- Lithuania $4.78
- Latvia $4.30
These were the top twenty countries with the highest minimum wage in 2021. Without a doubt, you can sustain a great lifestyle while supporting yourself and your family. In case you need to send money to your relatives in your hometown, you can still save plenty of money while working at a minimum wage in these countries.
Besides material advantages, you will be also living in communities that value and prioritizes human life. The number of social activities you can engage in and enjoy will be quite high too while you will be also enjoying plenty of free time that you can spare for your development.