MINIMUM AND AVERAGE SALARY IN MONGOLIA

Mongolia is located in the eastern part of Asia between Russia in the north and China in the south, and has no access to the sea. It has a population of about 3.3 million people. It is an interesting state with great history and culture. Despite the attempts of local authorities to establish international trade relations and build a full-fledged market economy, the income of the Mongols is still quite low.

Salary in Mongolia

Mongolia's main economic center is the capital Ulaanbaatar, where almost half of the local population (1.4 million) lives and where the lion's share of jobs is concentrated. Foreign job seekers are mainly trying to find jobs in mining, education, construction and medicine. Next, let's find out what salary in Mongolia in 2020.

Minimum salary in Mongolia

According to the Mongolian Ministry of Labor and Social Protection, from January 1, 2020 the official minimum wage in Mongolia is 420 thousand Mongolian tugriks per month, which at the current rate is equivalent to $160 or 12,645 Russian rubles (₽).

Important. According to the National Statistics Office of Mongolia, today the country employs 1.2 million people, of which about 8 percent receive the minimum wage.

Thanks to a compromise between the government, employers and trade unions, the minimum wage in Mongolia increased by 80,000 tugriks in 2019 ($30/₽2 410). Before that, the salary increase was implemented in January 2017 – from 192 thousand tugriks ($75/₽5 780) to 240 thousand ($90/₽7 225).

Average salary in Mongolia

According to the Mongolian National Statistics Office, the average salary in Mongolia in 2020 is 1,165 thousand Mongolian tugriks per month, which at the current rate corresponds to 390 U.S. dollars or 24,900 Russian rubles. Much depends on the education, qualifications and experience of an employee. For example, demanded technical specialists (engineers, builders) can get more than 5 million tugriks per month ($1 900/₽150 515).

The highest salaries in Mongolia are provided by the mining and exploration industry 2.3 million tugriks per month ($875$/₽69 240). Arts and entertainment workers earn the least 615 thousand tugriks per month ($235$/₽18 515).

Teachers' salaries in Mongolia usually do not exceed 1-1.5 million tugriks per month, but foreign specialists can pay from 2 million tugriks or more, especially in the capital. Qualified English teachers in Ulaanbaatar are promised a salary of $2,500 per month (₽197,000).

The monthly average income per household in Mongolia in 2020 is 1,147,486 tugriks per month ($435/₽34 545). Wages account for 615,344 tugriks. Household expenses are estimated at 1,223,854 tugriks per month ($465$/₽36 840).

In conclusion, overall wages in Mongolia are significantly lower compared to developed Asian and European countries. The rate of income tax in 2020 is 10%. The official number of unemployed people is 131,100.

Add comment


Security code
Refresh

© 2020 WageCentre.com. All Rights Reserved.