Highest salaries in the world by country: discover in this article the nations with the highest average wages globally
Are you looking to increase your salary? In this article we will list the countries with the highest salaries in the world.
We will start out this list with this beautiful alpine country nested in Central Europe, Austria. Austria is often ranked among the top countries in terms of quality of life, and it is easy to understand why. Apart from being one of the safest countries in Western Europe, Austria has some of the highest paying salaries in the world.
The average wage in Austria is slightly above 50 thousand dollars per year. A doctor in Austria earns 5000 euros per month gross, dentists have an average wage of 6000 euros gross per month.
Read more about the average and minimum salary in Austria here.
Apart from the its beautiful nature, fjords and clean cities, Norway is also one of the countries with the highest salaries in the world. Rich in oil, Norway’s average wealth is way above the numbers when compared to most European nations. Finally, Norway’s sovereign fund is the largest in the world, beating countries like China and Saudi Arabia.
The average yearly salary in Norway is of 50,956 dollars. The average salary for doctors is 70000 NOK gross per month, or roughly 8200 USD.
Read more about the average and minimum salary in Norway here.
Belgium is another country that you will often find in any list ranking countries by average wage. This small nation has three official languages: Flemish Dutch, French and German. A good part of its workforce also speaks English.
Apart from being a country with three official languages, Belgium is also a pretty wealthy one. Wages are pretty high, but the official minimum salary in the country and the average wages are among the highest in the world.
The average salary in Belgium is of USD 52080 gross per year. GP doctors in Belgium have an average gross salary of 7000 euros per month, one of the highest paying salaries in the country.
On top of that, Belgium does not tax capital gains at an individual level. It is a great place to build a career and than invest your money in stocks or ETFs.
Read more about the average and minimum salary in Belgium here.
Australia is the only country in the Southern Hemisphere featured on the list of the highest salaries in the world by country. Apart from beautiful beaches and poisonous snakes, the sparsely populated country is a true economic powerhouse. Australia also has a welcoming immigration policy, especially for those willing to study in the country and then start a career in Australia right after.
The average wage in Australia is 53349 USD. A doctor in Australia earns on average a gross salary somewhere between 200.000 to 350.000 AUD per year.
Netherlands is another country one should consider if you want to achieve higher earnings from your salary. Apart from high salaries, Netherlands has an excellent transport infrastructure, and Amsterdam is one of the most international cities in the world.
The average salary in the Netherlands is of 54262 US dollars per year. If you are a data scientist in the Netherlands, you can expect to earn 57000 euros per year as your average gross salary.
Denmark is a Scandinavian nation with some of the highest living standards in the world. The country is oftentimes ranked as the happiest nation in the world, although the metrics are quite subjective. What is not subjective about Denmark are its high salaries, considerably above its Southern neighbor Germany. Apart from high salaries Denmark is one of the easiest countries to do business in the world.
The average gross wage in Denmark is 55253 dollars per year. A software developer in Denmark earns on average just short of 500000 Danish crowns, or roughly 80000 USD per year. Let’s not forget that Denmark has some of the highest taxes at a personal level in the world, so much of your Danish salary is going straight to state funds.
Read more about the average and minimum salary in Denmark here.
The United States of America not only have the largest economy in the world, but also some of the highest salaries. The country has the overall highest total GDP among all nations, and the US dollar is considering a global reserve currency. The USA is also home to some of the biggest tech companies, which have some of the highest IT salaries in the world.
The average gross wage in the United States is 63093 dollars per year. The average senior software engineer salary is 120000 USD. IT salaries in the US are usually fairly higher than those in Europe.
Switzerland is a tiny, landlocked nation right in the heart of Europe. Unlike most of its neighbors, Switzerland is not part of the European and does not use the euro single currency. Having its own currency and one of the most solid banking systems in the world are just some of the advantages allowing Switzerland to maintain and grow its wealth over the past centuries.
It comes as no surprise that Switzerland has some of the highest salaries in the world. The average wage in Switzerland is of USD 64000 per year. An airline pilot in Switzerland earns around 210000 CHF per year, which is slightly more than USD 230,000.
Luxembourg is a tiny nation in Western Europe, bordering Belgium, France and Germany. With a small population of just over 600.000 inhabitants, Luxembourg also happens to be one of the countries with the highest salaries in the world.
The average gross wage in Luxembourg is 65449 dollars per year. One of the top economic sectors in the country is banking, and executives can earn north of 100000 euros per year plus bonuses.
Read more about the average and minimum salary in Luxembourg here.
Iceland, is one of the Northernmost countries in the world. With a population of about 350,000 people, Iceland has some of the highest wealth concentration in the world. Iceland has just one billionaire, but so does Tanzania, with a population more than 100 times higher than the Nordic country.
The average gross wage in Iceland is 66504 dollars per year. A fast food worker in Iceland earns about 13.3 USD per hour worked. Coincidentally, there are no McDonald’s in Iceland.
On the bad side of things, Iceland has some of the highest cost of living in the world. Most products in this country are imported, and taxes are pretty high. Summing up, you will need a really high salary to afford the high cost of living that involves living in Iceland.
Read more about salaries in Iceland here.
Highest Salaries in the World
As we can see, in most cases and for most careers, it is a great option to move to one of the countries with the highest salaries in the world. However, one should also consider the local cost of living and taxes. All in all, it will depend on your career prospects and possibilities, to find a job in one these countries.
Are you planning to move to one of these countries? Do you already live and work in one of these countries? Leave your thoughts and comments below.