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Top 10 Countries That Pay the Highest Minimum Wages
Is your country included among the countries that pay the highest minimum wage?
So, it’s barely the end of the month and you’ve already run out of money. Is it because of your expenses, or is your country to blame?
Technically, the minimum wage is the lowest pay an employee must receive for every hour he works. It is mandated by the government and is strictly enforced to protect its citizens from exploitation. The minimum wage spells much about a person or a household’s lifestyle, and it is also an indicator of the standard of living in a certain country.
Now, if you’ve been complaining how low the wage is in your country, you may want to consider migrating to a country that offers a lot more than what you currently make.
Here’s the list of countries that pay the highest minimum wage in US dollars, taking into account taxes, deductions, and purchasing power, according to the Organisation for Economic Co-operation and Development (OECD):
#10. United Kingdom ($7.06 per hour)
The United Kingdom made it to the top ten of the highest minimum wage. With a minimum wage of $7.06 per hour, that’s surely a hefty sum for its legal workers.
#9. Canada ($7.18 per hour)
Aside from its famous icons, Canada is also a popular destination for immigrants from all over the globe. With a minimum wage $7.18 per hour, Canada ranks 9th on the list.
#8. Germany ($7.19 every hour)
For about $7.19 every hour, people who work legally in Germany can earn up to $15,000 annually. Good thing they have imposed a minimum wage just this 2015.
#7. New Zealand ($7.55 per hour)
New Zealand pays its workers about $7.55 per hour. Working 40 hours a week would total $15,824 annually. That’s higher than other European countries!
#6. Netherlands ($8.20 per hour)
Netherlands pays $8.20 per hour. If you work 40 hours every week, that adds up to $17,187 annually. I guess that’s a lot for living in a small country.
#5. France ($8.24 per hour)
People who work legally in France receive about $8.24 for every hour they work. They are ranked 5th among the countries that give the highest minimum wage.
#4. Ireland ($8.46 per hour)
Irish workers earn about $8.46 every hour for working a maximum of 39 hours every week. That’s $17,732 annually. That’s definitely not a bad thing!
#3. Belgium ($8.57 per hour)
Belgium pays $8.57 so that’s about $17,962 annually for a 38-hour work week. That’s the lowest legal workers can get and they are entitled to social benefits a few years after they start working.
#2. Luxembourg ($9.24 per hour)
Luxembourg pays its legal workers at $9.24 per hour. If you do the math, you get around $19,367 annually. The country really is a prominent financial center!
#1. Australia ($9.54 per hour)
At $9.54 per hour, the people down under gets the highest minimum wage which adds up to $20,000 annually. No wonder many immigrants prefer heading to this country than any other.
How about your country? Are you satisfied with the wage you receive? Leave a comment below.
H/T: CNN Money, Fortune Hub
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