Understanding minimum wage regulations across different countries and regions is critical for employers when expanding as these laws define the baseline for fair compensation, ensuring compliance with labour laws and local policies. Staying updated on these evolving regulations helps employers avoid penalties, foster positive employee relations, and maintain a fair workplace.
Below is an overview of key updates to minimum wage laws from various countries highlighting how these changes impact employers and employees.
Greece
Effective April 1, 2024, Greece implemented updated minimum wage and statutory hourly minimum wage for all employees and skilled workers:
This is equivalent to USD 861.67 and USD 38.48.
Jamaica
Jamaica raised its national minimum wage as of June 1, 2024:
General occupations: JMD 15,000/40-hour week
Security guards: JMD 15,000/40-hour week
This is equivalent to USD 95.53.
Turkey
In Turkey, as of January 1, 2024:
Gross monthly minimum wage: TRY 20,002.50
Net monthly wage after deductions: TRY 17,002.12
This is equivalent to USD 614 and USD 522. Employers in high-risk sectors, such as mining, must comply with provisions requiring double the statutory minimum wage.
Nigeria
Starting July 2024, Nigeria’s minimum wage increased to NGN 70,000/month. This is equivalent to USD 43.19. Employers failing to meet this requirement face fines, underscoring the importance of payroll compliance.
USA
In the USA, Oregon adjusted its minimum wage rates on July 1, 2024:
Standard areas: USD 14.70/hour
Portland metro area: USD 15.95/hour
Non-urban areas: USD 13.70/hour
Employers with operations in multiple locations must comply with area-specific rates and update workplace posters.
Malaysia
In Malaysia, effective February 1, 2025:
Monthly minimum wage: MYR 1,700 for businesses with five or more employees.
Daily rates: Vary by workdays per week, ranging from MYR 65.38 to MYR 98.08.
This is equivalent to USD 377.19 and USD 14.51 to USD 21.76.
Small businesses (fewer than five employees) have a grace period until August 1, 2025, to implement the new wage in Malaysia.
Egypt
In Egypt, starting January 1, 2024:
Private sector minimum wage: EGP 6,000 per month
Public sector minimum wage: EGP 6,000 per month
This is equivalent to USD 117.85. Payroll compliance includes regular, timely payments and adherence to workplace distribution policies.
Romania
In Romania, effective July 1, 2024:
Monthly minimum wage: RON 3,700 reflecting a 12% increase. This is equivalent to USD 773.48.
Bonuses: Discretionary and not mandated by law.
Employers are required to ensure timely monthly payroll to comply with legal standards.
Effective January 1, 2025, the minimum wage will increase to RON 4,050. This is equivalent to USD 846.64. This is a 9.5% increase from the current RON 3,700.
Myanmar
In Myanmar, effective August 1, 2024:
Minimum daily wage: MMK 6,800. This is equivalent to USD 3.24.
Exemptions: Small businesses employing fewer than 10 employees and family-owned operations are not required to comply with the minimum wage update.
This change reinforces fair wages for eligible employees.
Implications for Employers
Employers must stay informed and adjust payroll systems, contracts, and employee communication strategies to reflect updated minimum wage regulations. Non-compliance can lead to financial penalties, reputational damage, and strained employee relationships.
How Atlas Can Help
Navigating global wage regulations can be complex. Partner with Atlas Human Experience Management (HXM) to streamline compliance, simplify payroll, and focus on growing your business. Contact us today to streamline your operations and stay compliant.
