Do you know about minimum wages? Every country has labour law that ensures rights for its working class.
Whether it is developed world or developing countries every state has well defined labour laws.
Labour laws guarantee minimum wages for labours and other blue collared jobs. It ensures that no one is left out in the society.
Minimum wage helps labor class to earn decent money. However, there are many critics for minimum wages like corporate sector.
They say minimum wage could increase unemployment. There logic is simple higher the minimum wages lesser the workers company want.
So both parties have an argument.
Top 10 Companies with Highest Minimum Wages
Here I am showing you only the top 10 countries with the highest minimum wages. Just have a look on these countries.
1. Netherlands – Hourly $12.25, Daily $90
The first country in our list is Netherlands. Average annual income of the country is $47,056. The country has largest port in Europe in Rotterdam. The minimum wage is around $23,629.
Country is very famous for tourism that is why it has growing economy.
It is quite low in developed world but still higher then courtiers like France, Spain, Italy, Portugal etc.
2. Luxembourg – $12.20 Hourly, Daily $97.6
Second country in our list is Luxemburg. It is a small European country with highest per capita income in the world.
The economy is very developed but government has strict labor laws. Hence, for a year $19,426 is the minimum wage.
For an hour it will be around $12.20 or something.
3. Belgium – Hourly $12, Daily $96
Third country in our list is Belgium. Famous for waffle and chocolate the country has minimum hourly wage of around $12.
Daily wage is around $96 and year minimum wage is more than $18,800.
4. France – Hourly $11.80, Daily $94.4
Fourth country in our list is France. France has a robust economy built upon financial sector. The hourly minimum wage is around $11.80 and daily is around $94.6
The yearly minimum wage is more than $17,000.
5. Ireland – Hourly $11.78, Daily $94.2
Fifth country with highest minimum wage in our list is Ireland. Ireland is a knowledge based economy that drives its high tech industry.
Although the country is very small compared to USA but still Ireland has minimum wage for its worker. Hourly minimum wage is around $11.78 and yearly is around $18,000+
6. Canada – Hourly $11.72, Daily $93.7
Canada is exporter of energy in the developed world. Canada has vast oil reserves after Saudi Arabia. It also has great mine reserves like zinc, uranium, gold, nickel etc.
The annual income or per capita of the country is around $42, 253 and the minimum wage per year is around $16,710.
7. New Zealand – Hourly $11.49, Daily $91.2
New Zealand is the seventh country with highest minimum wage. Hourly minimum wage is around $11.49 and yearly is around $16,462.
8. United Kingdom – Hourly $10.38, Daily $83.04
Eighth country in our list is United Kingdom. UK is sixth biggest tourist destination in the world. UK is also a financial hub in the world after New York City.
Average gross income of the country is around $44,743, however disposable income has dropped to $1272 previous year. The minimum wage per year is around $18,513 and hourly is around $10.38.
9. San Marino – Hourly $9.59, Daily $76.72
The ninth country in our list is San Marino. A small country with an hourly minimum wage of $9.59. The daily minimum wage is around $76.2 and hourly is around $9.59.
The annual minimum wage is around $15,707.
10.Switzerland – Hourly $9, Daily $72
Last country is Switzerland. The country has very robust manufacturing sector so it needs tough labor laws.
Country has very developed health and pharmaceutical industry also. It is also famous for tourism. Even in tough economic situation Switzerland has $15,471 minimum wage per year.
So these were top 10 countries with highest minimum wage.
Surprisingly there is no USA in the list which has a minimum wage of around $7 to $7.50 per hour.
Now let us see top 10 countries with lowest minimum wage.
Top 10 Countries with Lowest Minimum Wages
Only $9 Per Month. Around $108 Per Year. Economy thrives on sugar industry.
$19 Per month and around $228 Per year. A robust textile industry.
3. Central African Republic
$41 Per Month and $492 Per Year.
$43 Per Month and $516 Per Year. Economy depends upon the energy sector.
$45 Per Month and $540 Per Year.
6. The Gambia
$47 Per Month and $564 Per Year.
$48 Per Month and $576 Per Year.
8. Guinea Bissau
$49 Per Month and $588 Per Year.
9. Democratic Republic of Congo
$49 Per Month and $600 Per Year.
$50 Per Month and $610 Per Year.
So these are the top 10 list of countries with highest and lowest minimum wages.
You can see neither India for minimum wages nor USA for highest wages is in the list. The Minimum wage of India is Rs 100 per month. Earlier it was Rs 80. However, Since April 2011 minimum wage in India per day is around Rs 125.
Do share your opinion on this.