10 Top Highest Paying Countries in the World In 2024
- January 22, 2024
- 2622
If you are searching for a job and want to live in the most luxurious cities in the world, then your search starts here. You can embark on your career journey by moving abroad and settling in the city of your choice. In this blog, we will guide you through the 10 highest-salary countries in the world.
1. Luxembourg
With six-figure wages for doctors, dentists, data scientists, and C-level executives, Luxembourg is the country with the greatest per capita income. Workers in Luxembourg make, on average, between €2,564 and €8,093 ($2,797–$8,828) each month. Due to its high living standards, the city-country is ranked among the world's most livable cities.
Average Yearly Pay: $67,967
2. Switzerland
Switzerland is well-known for its luxurious timepieces, mouthwatering chocolate and cheese, and stunning Alpine landscapes, but it's also well-known for its high salaries. However, it's also well known for having a high cost of living. In fact, the average monthly cost of living for a single individual is CHF 1,451.90 ($1,559.48), whereas the monthly cost of a one-bedroom apartment located outside of the city center is approximately CHF 1,257.71 ($1,350.36).
Average Yearly Pay: $63,782
3. Norway
According to the World Bank and the International Monetary Fund (IMF), Norway has the highest average pay in Scandinavia and the fourth highest per capita income worldwide. The Human Development Report from the UN lists it as one of the greatest places to live. Meanwhile, because the nation has an excellent remote work visa scheme, remote workers should also think about coming here for employment.
Average Yearly Pay: $53,514
4. United States
People continue to migrate to the US in the hopes of boosting their careers, even if it may be harder and harder to realize the American Dream. Because many of the biggest corporations in the world, like Google and Amazon, have their headquarters here, there is a constant need for job seekers, especially in the IT, healthcare, and financial sectors. In contrast, the US Bureau of Labor Statistics predicts that by 2031, the US economy will create 8.3 million new jobs.
Average Yearly Pay: $53,329
5. Denmark
Denmark has several reasons for celebration, one of which is that it is one of the top five nations in the world in terms of per capita income. With a strong demand for people in the business, science, food and beverage, legal, and construction industries, it also boasts one of the healthiest job markets in the world.
Average Yearly Pay: $52,666
6. Iceland
Iceland, the northernmost nation on our list, is an excellent area to relocate due to its low crime rates and high wages; in fact, the 2022 Global Peace Index (PDF) names Iceland as the world's safest nation. As evidenced by Statistics Iceland's report of a 5.2% growth in wages between January and December 2022 alone, wages in Iceland are also consistently rising.
Average Yearly Pay: $48,047
7. Sweden
If you enjoy saunas, you might want to think about relocating to Sweden, even if it's not because of their high wages. Although there is a sizable state sector in Sweden, private sector employees typically earn the highest wages. The average monthly pay in the public sector is SEK 36,000 ($3,523), whereas in the private sector it is SEK 36,000 ($3,719). Among the highest-paying professions in Sweden are those of attorneys, pilots, and surgeons.
Average Yearly Pay: $44,552
8. Netherlands
With a robust labor market and low unemployment rates, the Netherlands is renowned for being among the greatest places to work, even outside of its windmills and tulip fields. According to EURES, there were actually more open positions at the end of 2021 than there were immediately employable job seekers, with a notable demand for personnel in the fields of education, eCommerce, and healthcare.
Average yearly pay: $42,296
9. Singapore
Singapore, the only Asian nation to make it into the top 10, pays a full-time employee an average of S$5,847 ($4,445) a month. Despite having one of the highest cost of living rates in the world (2.1%), the nation is a favorite travel destination for professionals in the tech, finance, engineering, and medical fields. The highest-paid professionals in Singapore are surgeons, who make an average of S$148,065 ($112,505) annually!
Average Yearly Pay: $42,049
10. Ireland
Ireland is first on the list of the ten nations with the highest average incomes. Despite having one of the fewest number of public holidays, workers in Ireland are entitled to a number of benefits, such as four weeks of statutory paid leave, up to 104 weeks of leave for caregivers, and up to 26 weeks of leave for maternity. Conversely, sales directors, operational managers, and managers of software development are among the well-paying positions in Ireland.
Average Yearly Pay: $41,467
If you are considering moving overseas for work, you should thoroughly investigate all requirements, including eligibility and visa requirements, in addition to necessities like housing and health insurance. You'll experience fewer (unwelcome) surprises the more prepared you are.
It's crucial to investigate living standards, employment opportunities, and educational opportunities in the nation you're thinking of migrating to, especially if you're moving with a family.