An Overview of Worldwide Minimum Wages in 2022

Worldwide Minimum Wage 2022

Worldwide Minimum Wage 2022

August 5, 2022

SHARE

Facebook
Linkedin
Twitter
INS Global

Author

Date

INS Global

Author

Date

Share On :

window.onload = function() { var current_URL = window.location.href; document.getElementById("fb-social-share").onclick = function() { window.open(`https://www.facebook.com/sharer/sharer.php?u+${current_URL}`); }; document.getElementById("tw-social-share").onclick = function() { window.open(`http://www.twitter.com/share?url=+${current_URL}`); }; document.getElementById("in-social-share").onclick = function() { window.open(`https://linkedin.com/shareArticle?url=+${current_URL}`); }; };

Key Takeaways

  1. Being aware of changes to regulated minimum wages is essential
  2. In 2022, many countries have introduced or increased their minimum wages. These are not always in line with the rise in inflation
  3. Payroll outsourcing may be a way to ensure compliant wage amounts and procedures
Summary

Keeping up to date on worldwide minimum wage legislation is essential for companies with a global or distributed workforce. You want to ensure that all your employees are receiving their salary accurately and that you comply with local labor laws.

Each country’s minimum wage system is different. Some have a national minimum wage, while others allow it to be determined by region or industry. In addition, some countries have no government minimum wage or leave it up to trade unions and CBAs to set the amount.

INS Global operates in over 80 countries, and our legal team is always up-to-date regarding minimum wage rates and distributed workforce management trends. This article outlines the 2022 worldwide minimum wage data for key international markets we serve in Europe, Asia, and North America.

In a hurry? Save this article as a PDF

Tired of scrolling? Download a PDF version for easier offline reading and sharing with coworkers

In a hurry? Save this article as a PDF

Tired of scrolling? Download a PDF version for easier offline reading and sharing with coworkers.

Fill up the form below 👇🏼

Your download will start in a few seconds. If your download does not start, please click the button:
Worldwide Minimum Wage: Highest and Lowest

Australia is currently the country with the highest minimum wage. This lead shows no sign of slowing down with a new increase that takes effect July 1st, 2022, bringing the hourly wage to AUS$21.38.

France, Germany, and the Netherlands also remain in the top ten minimum wage lists.

Countries like Kyrgyzstan, with a 970 Kyrgyzstani som per month (USD$12.20), and Sierra Leone, with a minimum of 500,000 leones (USD$37.97) monthly currently sit at the bottom.

While it may be surprising, several major EU countries, such as Switzerland, Denmark, Sweden, and Norway, still have no government-mandated national minimum wage. In these countries, average worker wages vary according to the industry and collective bargaining agreements.

US Minimum Wage Variations

As a key global market, US minimum wage statistics remain largely determined by individual states. As of 2009, the federal minimum wage in the United States is $7.25 per hour. However, each state government freely determines its own minimum wage.

As of January 1st, 2022, the District of Colombia has the highest hourly minimum wage ($15.20), and Wyoming is the lowest ($5.15).

The federal minimum wage is mandatory for companies with an annual gross income of at least $500,000. However, the company must comply with the state standard if the state minimum wage is higher than the federal one.