Iceland vs Mongolia: Monthly minimum wage
Monthly minimum wage over time
- Iceland
- Mongolia
How they compare
Mongolia currently reports 660,000 against 425,985 in Iceland, a difference of 234,015.
That makes Mongolia's figure about 1.5 times Iceland's.
Across all 6 years both countries report, Mongolia has been ahead every year.
Iceland ranks 13th and Mongolia ranks 10th of 173 countries.
Mongolia has averaged higher in every one of the 2 decades both report.
Head to head by decade
| Decade | Iceland | Mongolia | Difference | Ahead |
|---|---|---|---|---|
| 2010s | 300,000 | 320,000 | 20,000 | Mongolia |
| 2020s | 376,444 | 520,000 | 143,556 | Mongolia |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher monthly minimum wage, Iceland or Mongolia?
- Mongolia, at 660,000 against 425,985 in Iceland as of 2024.
- What is the difference in monthly minimum wage between Iceland and Mongolia?
- 234,015, with Mongolia ahead.
- How many years of comparable data are there for Iceland and Mongolia?
- 6 years are reported by both, from 2019 to 2024.
- How do Iceland and Mongolia rank globally for monthly minimum wage?
- Iceland ranks 13th and Mongolia ranks 10th of 173 countries.
- Where does this data come from?
- International Labour Organization, published as Monthly minimum wage (Local currency). Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Data refer to the minimum monthly earnings of all employees as of December 31st of each year. Minimum wages are not reported for countries for which collective bargaining is in place for minimum wages. In cases where a national minimum wage is not mandated, the minimum wage in place in the capital or major city is used. In some cases, an average of multiple regional minimum wages is used. In countries where the minimum wage is set at the sectoral level or occupational level, the minimum wage for manufacturing or unskilled workers is generally applied. Data are converted to U.S. dollars as the common currency, using exchange rates or purchasing power parity (PPP) rates rates for private consumption expenditures. The latter series allows for international comparisons by taking account of the differences in relative prices between countries. For more information, refer to the Wages and Working Time Statistics (COND) database description.