Smart employers know that keeping quality employees requires providing the right compensation and benefits package. Compensation includes wages, salaries, bonuses and commission structures. Incidentally, one of the greatest motivations for accepting a job offer or choosing to stay on the job is the salary incentive/wage. This article highlights the top 10 countries with the lowest salaries for workers in 2022. We have previously written on top 10 countries with the highest salaries. You can check it out. If you’re a graduate looking for opportunities, you’re in the right place.
Some countries may have a very complicated minimum wage system; for example, India alone has over 1202 minimum wage rates for different types of industries and skill levels. However, other countries have a national rate which often is superseded by state, provincial, cantonal, county and city minimum wage rates.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.
The World Bank assigns the world’s economies to four income groups based on GNI per capita in current USD. The groups are low, lower-middle, upper-middle, and high-income countries. low-income economies are those with a GNI per capita of $1,045 or less; lower middle-income economies are those with a GNI per capita between $1,046 and $4,095; upper middle-income economies are those with a GNI per capita between $4,096 and $12,695; high-income economies are those with a GNI per capita of $12,696 or more.
In this article, we will highlight the top 10 countries with the lowest salaries for workers in 2022. Therefore, if you’re a graduate looking for opportunities, you’re in the right place.
Top 10 Countries in the World with the Lowest salaries
Kyrgyzstan is a Republican state in the Central part of Asia. The country has abundance 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, Kyyrgyzstan is the country with the lowest minimum wage in the world as at 2022.
Bangladesh is a Republican state and lies in the southern part of Asia. The country has an history of a brutal civil war that resulted to its Independence in 1971.
Jute products largely contribute to Bangladesh economy and constitute more than 60% of global jute production. Bangladesh is one of the countries with varying minimum wage structure across sectors. The country’s National Minimum Wage Board uses a three-dimensional forum to determine the minimum wage for the industries serially.
For instance, a worker in a garment industry receives a paycheck of $68 every month, while those employed in the economic sector not bound by “industry-specific wages’’ go home with a fixed minimum wage of $19 per month. This minimum wage structure has been effective as of December 1, 2013.
Overall, Bangladesh is one of the countries with the lowest minimum wage globally as at 2022.
Venezuela is country in the continent of South America with abundant resources. Despite her natural endowments, the country has been unfortunate with bad and corrupt governance that has resulted her dwindling economy. The country is currently facing one of the highest hyperinflation and devalued currency. With the economic instability of the country, it is difficult to calculate its minimum wage. At this unofficial rate, the minimum wage currently falls under $20 per month.
This makes Venezuela one of the countries with the lowest minimum wage as at the time of writing this post.
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. Employers in Malawi who fail to pay the minimum wage may be subject to punishment by Malawi’s government. An employee in Malawi goes home with a monthly pay of approximately $25.17 as at 2022.
Malawi is a Republican state in the central of East Africa and is member state of the Commonwealth.
5. Democratic Republic of the Congo
Democratic Republic of the Congo does not have a minimum wage. There is no mandatory minimum rate of pay for workers in Democratic Republic of the Congo. Pay rates are agreed upon directly with the employer through collective bargaining or other means of negotiating a fair living wage.
However, 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 2022. The minimum wage was last changed in 1-Jan-2009.
Cuba’s largest export commodity of 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. A until 1960.
In addition, the minimum wage of Cuba is $30.16 (402 Cuban pesos) per month. This makes the country one of the countries with the lowest salary.
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 2022. Guinea Bissau’s minimum wage was last changed in 1-Jan-2015.
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 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 at January 2022.
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 is 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.
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 2022. Tanzania’s minimum wage was last changed in 1-Jan -2013.
Some countries may have a very complicated minimum wage system; for example, India alone has over 1202 minimum wage rates for different types of industries and skill levels. However, other countries have a national rate 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. Finally, low-income countries have GNI per capita of $1,025 or less.