According to CEOWORLD magazine’s report, the Gross Average Monthly Wages (USD, at current exchange rates) were compared across various countries to identify the nations that pay the highest and the lowest wages. The highest-paying countries in 2024 were Switzerland ($8111), Luxembourg ($6633), the United States ($6455), Iceland ($6441), Norway ($5665), Denmark ($5642), Canada ($5081), Greenland ($4665), Ireland ($4622), the Netherlands ($4581).
It’s worth noting that the finance, insurance, electricity, mining, information technology, retail, and education sectors offer the highest-paying jobs. On the other hand, administrative support, hospitality, and construction are the lowest-paying sectors. However, it is important to consider inflation when comparing salaries in different countries. In recent years, many countries have experienced high inflation rates, which can affect purchasing power. These inflation rates have been largely caused by the pandemic and the resulting supply chain disruptions. Additionally, (geo)political risks such as the Russia-Ukraine conflict, US-China strategic competition, the ongoing conflict in the Middle East, India-China geopolitical competition, and China’s economic slowdown, have contributed to these issues by exacerbating energy crises and supply delays. Unfortunately, the current Israel-Hamas conflict may only worsen this situation.
Countries With The Highest And Lowest Average Salaries, 2024
