In the Central Asian country of Kyrgyzstan, the monthly minimum wage is currently set at roughly US$27.54.
Sierra Leone, an African country that was ravaged by war for many years, now offers a minimum wage of US$30.49 per month.
Myanmar, formerly Burma, is a country located in Mainland South East Asia and has a minimum wage of US$33.41 per month.
With the eighth lowest minimum wage on the list is Haiti, guaranteeing its workers just US$68.08 per month.
Nigeria is known as one of Africa's fastest-growing economies. With that being said, it may come as a surprise that the minimum wage is fixed at only US$72.20 per month.
Ethiopia is a country with an incredibly rich history dating back thousands of years. As the country has developed, its economic problems have come to the forefront. It has a minimum wage of US$75.16 per month.
The war-torn country of Afghanistan is trying to emerge from the ashes of the past 25 years. Currently, Afghanistan has a minimum wage for employees in the private sector of roughly US$75.34 per month.
These countries came close to making the top ten lowest minimum wages in the world.
A country of unparalleled biodiversity and potential for economic growth, Madagascar's minimum wage is set at US$81.75 per month.
Chad, another African country with a shockingly low minimum wage, has set the national minimum wage at US$88.
The Republic of Mali, a landlocked country in West Africa, comes in at number seven on the list with a minimum wage of only US$57 per month.
Taking first place on our list is Bangladesh, a country in South Asia that has a general minimum wage set at roughly US$13.67 per month. However, different minimum wages may apply depending on the sector.
This transcontinental country sitting between Eastern Europe and Western Asia has a minimum wage of just US$23.25 per month.
Benin, officially known as the Republic of Benin, has a minimum wage of just US$86.24 per month.
Now, let's look at the minimum monthly wages that rank the highest in the world as of the beginning of 2024. Some of these wages may shock you!
Coming in at number one is none other than Switzerland. It is important to note that in Switzerland, the minimum wage is set at a Canton, or municipality, level. Geneva has set an incredible minimum wage of US$4,940 per month for its residents.
In eighth place on our list, we find the tiny European country of Luxembourg with a minimum wage of Us$2,358.4 per month.
The land down under comes in at second place on this list with a monthly minimum wage of US$2,691.04.
One of the most recognizable and respected countries in the world, France has seen a fair share of controversy over the standards of living for its citizens in recent years. With that being said, France still makes this list with a monthly minimum wage of US$1,903.65.
Irish employees are entitled to a minimum hourly pay rate of US$13.83 (valid for workers aged 20 and older) equating to about US$2,434.08 per month.
The Netherlands is another European country that made the list, boasting a minimum wage of US$2.543.2 per month.
Germany, renowned for its manufacturing and automotive industry, commands a respectable seventh position on this list with a minimum monthly wage of US$2,376.
The land of the long white cloud, New Zealand commands a very respectable place at number four on this list with a minimum monthly wage of US$2,525.6.
Belgium recently increased its minimum wage to US$13.26 per hour or US$2,333.76 per month.
The United Kingdom will increase its minimum wage by 9.8% to £11.44 (US$14.26) an hour, or US$2,509.79 per month.
These are the countries that nearly made the list of the countries with the highest minimum wage in the world.
Canadian citizens have had a nationwide increase in the minimum wage to US$11.43 per hour or US$2,011.68 per month.
Israeli citizens enjoy a respectable monthly minimum wage of US$1,506.36 per month.
The South East Asian powerhouse, Japan's minimum wage sits at US$937.83 per month.
Sources: (Lano.io) (Wageindicator.org) (World Population Review) (Statista) (Fragomen)
A stark contrast exists between the top ten highest minimum wages and the top ten lowest minimum wages around the world. From the highs of developed regions like Europe to the unbelievable lows of rural Africa, you won't believe your eyes when seeing what some people have to make do with.
It's important to note that some countries around the world do not have minimum wage legislation in place and have not been included in this list as a result, even though workers there may receive even lower wages.
Now the question arises, where does your country sit on this list? Click through to find out.
The countries with the highest and lowest minimum wages
Where does your country rank?
LIFESTYLE Money
Money is at the root of everything we do in this day and age. No matter where you are in the world, some form of money is required to sustain your existence. There are some countries with less developed economies than others, and millions of people face significant challenges just to survive. In most nations, a minimum wage has been set by the government in an attempt to ensure workers aren't exploited. However, the minimum wage does not always equate to a living wage.
A stark contrast exists between the top ten highest minimum wages and the top ten lowest minimum wages around the world. From the highs of developed regions like Europe to the unbelievable lows of rural Africa, you won't believe your eyes when seeing what some people have to make do with.
It's important to note that some countries around the world do not have minimum wage legislation in place and have not been included in this list as a result, even though workers there may receive even lower wages.
Now the question arises, where does your country sit on this list? Click through to find out.