Top 10 countries in the world with the highest salaries in 2022

Smart employers know that retaining good employees is only possible if they offer the right compensation and benefits package. Compensation includes wages, salaries, bonuses and commission structures. One of the biggest motivators for accepting a job offer or deciding to stay in a job is salary incentive/salary. This article presents the 10 countries with the highest salaries in the world. If you're looking for opportunities as a college graduate, you've come to the right place.

The World Bank divides countries into four different categories: low-income countries, low- and middle-income countries, high- and middle-income countries, and high-income countries.

The highest income group of countries has the highest income in the world, with a per capita GNI of at least US$12,476. The upper middle income countries have a per capita income between $4,038 and $12,475. Low- to middle-income countries have a per capita GNI of $1,026 to $4,035. Finally, low-income countries have a per capita GNI of $1,025 or less. Unfortunately, the low-income countries are predominantly African countries.

As of November 2020, 77 countries and territories are classified as high-income countries by the World Bank. Some of these countries, such as Some countries, such as the United States, have maintained this classification since the 1980s. However, this article only highlights the 10 countries with the highest salaries, compensation, and benefits package for their workers.

1.    Luxemburg

Those : articlesinsider.com

The country's economy is largely dependent on the banking, steel and industrial sectors. Luxembourgers have the highest per capita gross domestic product in the world (CIA 2018 est.).

The Luxembourg economy is quite similar to Germany's and enjoys a level of economic prosperity that is very rare among industrialized democracies.

With 632,000 inhabitants, Luxembourg is one of the richest and best-paid countries in the world. Employee salaries average $68,681, making them the highest in the world. The main economic sectors include banking and finance, the steel industry, mining, telecommunications and tourism.

2. Island

Iceland has a mixed economy with a high level of free trade and government intervention. However, government consumption is lower than in other Nordic countries. Hydropower is the main source of electricity for households and industry in Iceland.

The average annual salary for workers in Iceland is $68,006. The total monthly salary, including allowances, varies greatly between different job categories. With just 350,000 inhabitants, Iceland is one of the smallest countries in the world. But it is also one of the most expensive countries in the world to live in.

3. Switzerland

Switzerland has one of the most advanced and developed free market economies in the world. The average annual salary of employees is $66,567.

This wealthy and vibrant country offers its residents some of the highest salaries in the world. Although the country is enclosed, it has excelled in many areas, including finance, banking, chocolate, electronics, pharmaceuticals, watches and tourism.
Many of the world's largest multinational companies are based in Switzerland.

4. United States of America

Those : statista.com

The United States has a population of 326.7 million people and is the country with the highest per capita disposable income of $65,836. In 2018, the country's GDP was $20.58 trillion. Major sectors in the U.S. include financial services, professional and business services, manufacturing, and healthcare.

The average American worker works 44 hours per week. It is interesting to note that American workers in most companies receive a salary every week. Regardless of whether you are an engineer or a teacher, you will earn well.

Major industries in the United States include consumer goods, electronics, petroleum, steel, automobiles, telecommunications, food processing, aerospace, lumber, mining and chemicals.

5. Denmark

The economy of Denmark is a modern mixed economy with a comfortable standard of living. The country has a high level of government services and transfer payments and is heavily dependent on foreign trade.

There is no minimum wage in Denmark, yet this country has the lowest income inequality in the world. Workers in Denmark smile home with an annual salary of $57,150. This country is also known for having the happiest workers due to high salaries and good working conditions.

Danish industry focuses primarily on mining, metals, food and beverages, transport, furniture, shipbuilding and pharmaceuticals. The country is relatively small and there are only a limited number of jobs.

6. Netherlands

The Netherlands has always boasted a high standard of living. Many surveys show that the Dutch are satisfied with their lives due to their excellent healthcare system and schools. The Netherlands has a largely multilingual population and offers a wide range of jobs in the European Union.

The country's economy is based on international trade as it has the largest ports in Europe. The country also has one of the lowest unemployment and inflation rates. In the Netherlands, people have to work an average of 35 hours per week. The average annual salary of employees is $56,552, making it one of the highest in the world.

Overall, the Netherlands has an exceptional agricultural and fishing industry, an advanced electrical and mechanical engineering industry, the pharmaceutical industry, tourism and microelectronics.

7. Deutschland

Germany is the largest economy in Europe and is also one of the most developed and richest nations in the world. The per capita income in Germany is around $56,000. The country has a solid infrastructure and a well-developed school system. It also has some of the best healthcare facilities in the world and an even distribution of wealth. In addition, Germany has a number of lucrative industries that are crucial to the national economy. These include the pharmaceutical industry, healthcare, manufacturing, tourism, transportation and agriculture. Since the country is quite large, there are numerous jobs in various sectors.

8. Belgium

Those : careeraddict.com

Belgium has always been known for its high standards of living and education. The country is best known for its beer, chocolate, transportation, mechanical engineering, car assembly, scientific instruments, textiles and tourism. The average salary for Belgians is $55,590. Fortunately, unlike other countries in the region, it is not that difficult to find a job if you live in the European Union, while outsiders need an EU work permit.

Belgium has few natural resources other than fertile soil. Nevertheless, most traditional industries are represented in the economy, including steel, textiles and refining.  The chemical, food, pharmaceutical, automotive, electronics and mechanical engineering industries are also represented in Belgium.

9. Australia

The minimum wage in Australia is one of the highest in the world. Here the worker receives $17 for an hour of work, while in the USA only $6 is paid. Australia is the 12th largest economy in the world in terms of GDP and the 5th largest economy in the world in terms of GDP per capita. Australia produces the highest quality marine wool in the world.

An employee here earns an average of $54,401 per year. Employees work 35 hours per week. All work that exceeds 35 hours is considered overtime and is paid separately by the employer.

10. Norway

Norway is one of the most expensive countries in the world, and according to the World Bank and IMF, Norwegians have the fourth highest per capita income in the world. The country has a thriving gas and oil industry, which brings in most of its money. Norway is also a well-known exporter of fish, timber, textiles and aquaculture. Not only do Norwegians have a very low crime rate, they are also considered one of the happiest people in the world. Employees in Norway earn an annual salary of $54,027, one of the highest in the world.