Employers know that keeping quality employees requires providing the right compensation package. This article highlights the top 10 countries with the lowest salaries for workers in the world in 2024. If you’re a graduate looking for opportunities, you’re in the right place to find out which country pays the least. We have previously written about the top 10 countries with the highest salaries. You can check it out.
Some countries have a national minimum wage which often is superseded by state, provincial, cantonal, county, and city minimum wage rates. For example, 33 states in the United States have higher minimum wages than the Federal rate. Some countries like India may have a very complicated minimum wage system for different types of industries and skill levels.
In this article, we highlight the top 10 countries with the lowest salaries for workers in 2024. Therefore, if you’re a graduate looking for opportunities, you’re in the right place. The list is broken down into four income groups based on GNI per capita in current USD, according to the World Bank grouping of countries.
Read Also Top 10 Countries in Africa with the Highest Minimum Wage 2023.
Top 10 Countries in the World with the Lowest Salaries in 2024
1. Cuba
Cuba’s largest export commodity is sugarcane. This constitutes over 70% of the country’s foreign exchange.
Cuba is a Republican State, discovered by Columbus in 1492 and colonized by Spain. She got her independence in 1898. The entire landmass of Cuba stretches across 110 922 square kilometers. Despite her independence in 1898, Cuba was still under the influence of the U.S. until 1960.
In addition, the minimum wage in Cuba is $9. This makes the country one of the countries with the lowest salaries.
2. Kyrgyzstan
Kyrgyzstan is a Republican state in the Central part of Asia with abundant resources including gas, oil, and other mineral resources. An average worker in Kyrgyzstan receives a paycheck of about $14 and this has been in place since January 2017.
With this, Kyrgyzstan is among the countries with the lowest minimum wage in the world in 2024.
3. Bangladesh
Bangladesh is one of the countries with varying minimum wage structures across sectors. Jute products largely contribute to Bangladesh’s economy and constitute more than 60% of global jute production. The country’s National Minimum Wage Board uses a three-dimensional forum to determine the minimum wage.
Bangladesh’s new minimum wage structure has been effective as of December 1, 2013. Workers in the garment industry are entitled to a basic minimum wage of $68 per month. This compares to $19 per month for those employed in the non-agricultural sector. Overall, Bangladesh is one of the countries with the lowest minimum wage globally in 2024.
4. Venezuela
Venezuela is one of the countries in the world with the lowest salaries. Despite her natural endowments, the country has been unfortunate with bad and corrupt governance. The country is currently facing one of the highest hyperinflations and devalued currencies. At this unofficial rate, the minimum wage currently falls under $20 per month.
5. Malawi
Malawi’s minimum wage is MK 687.70 (approx. $0.839) per day. The country’s minimum wage was last changed in 1-Jan-2016 and employers in Malawi who fail to pay the minimum wage may be subject to punishment by Malawi’s government. Overall, an employee in Malawi goes home with a monthly payment of approximately $25.17.
6. Democratic Republic of the Congo
There is no mandatory minimum rate of pay for workers in the Democratic Republic of the Congo. Thus, pay rates are agreed upon directly with the employer through collective bargaining or other means of negotiating a fair living wage.
The minimum wage in the Democratic Republic of the Congo is 1,680 Congolese francs (approx. $0.84) per day for all workers. This amounts to about $25.2 per month as at 2024. The minimum wage was last changed on 1-Jan-2009.
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7. Guinea Bissau
Guinea-Bissau’s minimum wage is set annually for all categories of work. The average minimum wage is approximately 19,030 CFA francs ($32.3) as at 2024. Guinea Bissau’s minimum wage was last changed on 1-Jan-2015.
8. Gambia
Gambia (officially the Gambia) is one of the Republican states in West Africa. Widely bordered by Senegal, Gambia ceded to Britain in 1843 and remained under British control until it declared independence in 1965.
The Gambia made our list of countries with the lowest minimum wage in the world. The country fixes its daily minimum wage at $1.25 which is equivalent to 50 dalasis. Taken together, an average employee in Gambia earns $37.5 monthly as of January 2024.
9. Liberia
Liberia has the 9th lowest minimum wage in the world. An employee in Liberia receives the hourly minimum wage of $0.31 (equivalent to $74.4 for an 8-hour work time). This is equivalent to 450 Liberian dollars monthly.
In addition, the daily working hours are restricted to eight hours in Liberia with no added benefits. Civil servants in Liberia get $114 (equivalent to 5,600 Liberian dollars) monthly. This minimum wage system has remained effective in Liberia since 2014.
10. Tanzania
Tanzania’s minimum wage is set by categories covering various employment sectors. The minimum wage ranges from 40,000 Tanzanian shillings (about $17.3) per month to 400,000 shillings (about $173.3) per month as at 2024. Tanzania’s minimum wage was last changed on 1-Jan -2013.
Conclusion
Some countries may have a very complicated minimum wage system for different types of industries and skill levels. Other countries have a national rate which often is superseded by state, provincial, cantonal, county, and city minimum wage rates. 33 states in the United States, for example, have higher minimum wages than the Federal rate.
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