Foreign

₦20.5 Million Per Year: Switzerland Introduces World’s Highest Minimum Wage

* ₦9,646 Per hour

* ₦1,731,472 Per month

* ₦20,495,686 Per Annum

Geneva is set to introduce ‘the world’s highest minimum wage’ which will equate to £41,430 ($53,370) a year around £3,500 ($4,510) a month.

The alterations, which had been rejected by voters twice before in both 2011 and 2014, will now come into effect from October 17.

This is more than triple that in the United States, which operates at £5.63 ($7.25) per hour, and more than double the basic hourly rate in the United Kingdom of £8.72 ($11.23).

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