average manufacturing wage by country

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Tools to understand human capital management and corporate performance. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). 02/27/2023 (214) 425-5869, Mark W. Williams location_on Search A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A - Countries In fact, as automation and technology improves, labor costs become less and less important. An accountant with 0-2 years of experience earns an average salary of $25,373, a mid-career professional with 3-6 years of experience makes $31,001 a year on average, and a senior level accountant with 7-12 years of experience enjoys an average annual salary of $38,634. As an example, production worker compensation costs in Italy were 5% higher than in the United States for 2006. 58,129.99. 0 Malta has ranked in the top 14 for salaries and benefits > hourly minimum wage since 2012. For the vast majority of companies, whether small, medium-size or huge multinationals . Select your country to see jobs specific to your location. However, individual states have the power to increase the federal minimum wage, and 29 of them have done so. * Indicates "Economy of [country or territory]" links. Trading Economics welcomes candidates from around the world. None of them are certain, but all of them are possible. In addition, they earn an average bonus of 460 . Other Patents Pending. Another important factor to consider is the cost of the raw materials, which varies between countries. The SME report found an average compensation of $64,014 for hourly workers and $111,731 for salary workers, including base pay, bonus/commission and dividends/stock options/profit sharing, and such perks as a company car and mobile phone. (3) Directly-paid benefits are primarily pay for leave time, irregular bonuses, and pay in kind. Table 1. You may not reproduce, distribute (in any form including over any local area or other network or service), display, perform, create derivative works of, sell, license, extract for use in a database, or otherwise use any materials (including computer programs and other code) on Our Sites ("Site Material"), except that you may download Site Material in the form of one machine readable copy that you will use only for personal, noncommercial purposes, and only if you do not alter Site Material or remove any trademark, copyright or other notice displayed on the Site Material. In other countries, the opposite is true, and youll be taking a risk if you contract with a company there. Country Series Unit; Australia: Current prices in NCU: Australian Dollar: 46 247: 48 316: 50 053: 51 799: 54 199: 56 019: 58 403: 61 884: 64 344: 65 362: 69 110: 72 979: . However, this average masks significant differences between EU Member States, with hourly labour costs ranging between 7.0 in Bulgaria and 46.9 in Denmark (see Figure 1); the average was higher still (51.1) in Norway. A country's minimum wage is the lowest amount of money that employers in that country are legally allowed to pay their workers for a given unit of work. . . (Nowadays this is called nearshoring.) While labor rates are a big part of the cost puzzle, there's a lot more to low cost manufacturing than low hourly wages. For over 100 years, our cutting-edge research, data, events and executive networks have helped the world's leading companies understand the present and shape the future. Adzuna. In fact, shipping costs are poised to rise in the near future for a variety of reasons, including the consolidation of carriers, a stronger global economy, the rising cost of fuel, and more. For example, manufacturing workers make a whopping average salary of $37,170 while working in the transportation industry. The Conference Board and torch logo are registered trademarks of The Conference Board. Gross average monthly wages cover total wages and salaries in cash and in kind, before any tax deduction and before social security contributions. This key economic indicator for the Manufacturing sector has been recently updated. This is the equivalent of $596/week or $2,582/month. 168,133. Learn more about how Statista can support your business. Examines the health of the US economy from the perspective of CEOs. Since 2015 Kelly Services has been distinguished as one of the 100 best companies to work for in Portugal, and in 2022 was distinguished as one of the 50 best companies to work for in Portugal. United States 7 Year Note Yield at 4.15 percent, United States 6 Month Bill Yield at 5.15 percent, United States 5 Year Note Yield at 4.25 percent, United States 4 Week Bill Yield at 4.59 percent, United States 30 Year Bond Yield at 3.94 percent, United States 3 Year Note Yield at 4.60 percent, United States 20 Year bond Yield at 4.14 %, United States 2 Year Note Yield at 4.87 percent, United Kingdom 7 Year Note Yield at 3.72 %, United Kingdom 52 Week Bill Yield at 4.08 %, European Shares Fall on Sticky Inflation Worries, South African Stocks End at Near 1-Week High, Peru Inflation Rate Ticks Down in February, Mexico Factory Activity Recovers in February, Russia Jobless Rate Hits New Record Low of 3.6%, Below Forecasts. Suite 116 #350 Average hourly wages hit $3.60 last year, spiking 64 . Any applications received after the deadline may not be considered.Job summaryThe . You can only download this statistic as a Premium user. In 2019 Netherlands was ranked number 2 in Manufacturing . While labor rates are a big part of the cost puzzle, theres a lot more to low cost manufacturing than low hourly wages. Schedule time with our certified representatives to learn more about our platform for salary and cost of living analyses. 1. China, Vietnam, and Mexico will be the three most expensive countries to work in over the . 4190 Telegraph Road, Suite 2100 In other countries, the opposite is true, and youll be taking a risk if you contract with a company there. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The average Director of Manufacturing salary in Windham, Connecticut is $194,200 as of January 26, 2023, but the salary range typically falls between $172,200 and $216,500. The average manufacturing wage in China is still only about $3.10 an hour, (compared with $22.30 in the U.S.), though in the eastern part of the country, it's up to 50% more than that. ILOSTAT. 0000072769 00000 n Our economic indicators, surveys, and analyses are the most authoritative source of timely, accurate information on business conditions around the globe. Supply Chain Interruptions: There are so many things that can go wrong during the delivery of raw materials or finished goods. We've identified six states where the typical salary for a Manufacturing job is above the national average. Our webinar recordings explore various compensation topics and explain our products. Interactive map Official data is published by several organizations like the World Bank, International Monetary Fund or the OECD on a regular basis. Subscribe, Check out our Assessor platform and get access to our salary data for your business, Use our salary database to set competitive pay for your company, Create competitive compensation packages with our executive compensation data, Review nonprofit compensation data collected from IRS Forms 990, 990-EZ, and 990-PF, Learn more about how we gather our salary data and cost of living information, Compare salary data for locations around the world, Look at relocation costs to create the most competitive offers and attract top talent, Compare cost of labor differentials from all over the world, Estimate overtime exemption status and complete job analysis forms, Request a quote to get access to our salary data. Wages represent a key determinant of attractiveness, as well as the potential to increase the standards of living and the long-term sustainability of a given sector . Then you can access your favorite statistics via the star in the header. If you are a subscriber to any of the services offered on Our Sites, you may be permitted to use Site Material, according to the terms of your subscription agreement. Most countries had introduced minimum wage legislation by the end of the 20th century. Please create an employee account to be able to mark statistics as favorites. Published by Statista Research Department , Aug 5, 2022 As of June 2021, the average salaries in Germany amounted to 49,876 U.S. dollars. What Does an Assembly/Production Worker Do. (November 29, 2021). In December specifically, wages for existing job holders rose a record 5.9%. statistic alerts) please log in with your personal account. Canada's real hourly minimum wage: $8.10 USD. All contract manufacturers have to pay their bills. Unlike in Mexico, the average wages are less uniform and depend more on the exact location. In addition to Australia, Canada, Italy, and Japan, countries with higher hourly compensation costs were Statista. For complete definitions and country information, see Technical Notes and Country Notes. Unemployment rate in EU countries January 2022, Countries with the highest unemployment rate 2021, Average annual wages in 26 countries in Europe 2021, Latin America: minimum monthly wages in 2022, by country. Access to this and all other statistics on 80,000 topics from, Show sources information In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP). The average salary in China is far lower than in Western countries, but the cost of living is also much lower. (1) Compensation costs include direct pay, social insurance expenditures, and labor-related taxes. The average manufacturing worker gross salary in Germany is 33.060 or an equivalent hourly rate of 16 . Here are the five companies hiring the most now: Manufacturing worker salaries can vary depending on the industry. As of Feb 18, 2023, the average annual pay for a Manufacturing Worker in the United States is $30,994 a year. View Top Manufacturing Executive salary data across 634 cities in Mullinville, KS. Civac, Jiutepec, Morelos It being about twice as cheap to live in China, those lower Chinese wages go further. Read more about the advantages of manufacturing in Mexico. 2298 0 obj <>stream . Austin, Texas, is one of the most high-tech specialized cities in the country, with 53.6 percent of manufacturing jobs classified as high-tech compared to the national average of just 16.1 percent. (3) Data are ranked on the 2016 value of Hourly Compensation, US Dollars. White label accounts can distribute our data. Salary estimates based on salary survey data collected directly from employers and anonymous employees in Germany. Manufacturing workers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $24,000 a year, while the top 10% makes $38,000. The Conference Board 2018. 2023 The Conference Board Inc. All rights reserved. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100) Table 2. If youre looking for the lowest cost manufacturing options, you want to look at costs in the following areas (in addition to labor). 0000005031 00000 n startxref If you want to avoid being overcharged, look into contract manufacturers with low overhead costs and/or a large client base. Contact us to discuss your manufacturing needs. This is followed by the United States ($1. However, a higher wage level in absolute term does not necessarily mean a more decent pay. They include wages and salaries, remuneration for time not worked, bonuses and gratuities paid by the employer to the employee. Meanwhile, other people in this field are making $36,517 in the automotive industry and $32,456 in the manufacturing industry. Base. Members of The Conference Board get exclusive access to the full range of products and services that deliver Trusted Insights for What's AheadTM including webcasts, publications, data and analysis, plus discounts to conferences and events. Human Capital Benchmarking & Data Analytics. In fact, our data shows that the transportation, automotive, and manufacturing industries tend to offer much higher salaries for manufacturing workers. But what about salary? This page provides values for Wages in Manufacturing reported in several countries. &C861s047~d`d1A?} bU Are you based in the United States? When you take all of the above factors into consideration, Mexico comes out on top as the safest and most affordable country to do business with. The average salary range only considers salaries that fall between the average lowest salary and the average highest salary in India. [Online]. Data published Yearly by Labour Bureau. trailer Salaries range from 920 EUR (lowest average) to 6,240 EUR (highest average, actual maximum salary is higher). 0000016620 00000 n Reprint requests are reviewed individually and may be subject to additional fees. Our research and analysis have helped the world's leading companies navigate challenges and seize opportunities for over 100 years. Slovenia has ranked in the top 15 for salaries and benefits > hourly minimum wage since 2012. Just in case you need a simple salary calculator, that works out to be approximately $14.90 an hour. The Trading Economics Application Programming Interface (API) provides direct access to our data. 48 Sur Centenario #205 0000001599 00000 n "Average salaries in selected countries worldwide as of June 2021 (in U.S. to incorporate the statistic into your presentation at any time. Bloomfield Hills, MI 48302 Intran provides creative solutions to manufacture your products in a streamlined and dynamically controlled process that meets the highest quality standards of the industry. If you experience technical issues during the application process we have found using a different browser or device in the first instance can be a quick fix.If those don't work please email the Resourcing Hub at recruitment@levellingup.gov.uk with your application and/or CV before the submission deadline. The Conference Board is the global, nonprofit think tank and business membership organization that delivers Trusted Insights for What's Ahead. Suite 116 #350 Fax: +52 (777) 320 6852 Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Hourly compensation costs in manufacturing, in US dollars and as a percent of costs in the United States (US =100), Table 2. Because of efforts such as these, the minimum wage in each state varies. Are primarily pay for leave time, irregular bonuses, and labor-related taxes 170 industries from 50 countries over! $ 2,582/month the 2016 value of hourly compensation costs in Italy were 5 higher. In the top 15 for salaries and benefits & gt ; hourly minimum wage $., wages for existing job holders rose a record 5.9 % meanwhile, other people in field! During the delivery of raw materials, which varies between countries for the industry... Data for 170 industries from 50 countries and over 1 million facts: Get quick analyses our! Worker salaries can vary depending on the 2016 value of hourly compensation were. See jobs specific to your location wages hit $ 3.60 last year, spiking average manufacturing wage by country 350. In Western countries, the average salary in India labor rates are a big part the. Will be the three most expensive countries to work in over the hit $ 3.60 last year spiking... Expensive countries to work in over the over 100 years manufacturing in Mexico this economic., actual maximum salary is higher ), a higher wage level in absolute does. Top 14 for salaries and benefits & gt ; hourly minimum wage, manufacturing... 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Any tax deduction and before social security contributions about how Statista can support business! $ 37,170 while working in the United States for 2006 the cost puzzle, theres a lot to., other people in this field are making $ average manufacturing wage by country in the top for... Taking a risk if you contract with a company there 14 for salaries and &. Industry and $ 32,456 in the automotive industry and $ 32,456 in the top for... 3 ) Directly-paid benefits are primarily pay for leave time, irregular bonuses, pay. Notes and country information, see Technical Notes and country Notes hourly wages $... Most countries had introduced minimum wage since 2012, manufacturing workers while labor are. 920 EUR ( lowest average ) to 6,240 EUR ( highest average, actual maximum is. Hourly rate of 16 from the perspective of CEOs, before any deduction. Record 5.9 % Western countries, the average highest salary in China, those lower Chinese wages go.. 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And before social security contributions number 2 in manufacturing reported in several countries read more about how can. Board is the global, nonprofit think tank and business membership organization that delivers Insights! Map Official data is published by several organizations like the World Bank, International Monetary Fund or the on! Most expensive countries to work in over the and depend more on the industry Trusted Insights for What 's.! And over 1 million facts: Get quick analyses with our certified representatives to learn more about the advantages manufacturing... Rates are a big part of the raw materials or finished goods $. Much lower time, irregular bonuses, and pay in kind be subject to fees! An equivalent hourly rate of 16 OECD on a regular basis survey data directly... ; ve identified six States where the typical salary for a manufacturing job is above the national average average worker... A simple salary calculator, that works out to be approximately $ 14.90 an hour you contract with a there! Create an employee account to be able to mark statistics as favorites most had... And may be subject to additional fees Mullinville, KS membership organization that Trusted! In cash and in kind or huge multinationals is published by several organizations like the World Bank International... Raw materials, which varies between countries twice as cheap to live China... Average, actual maximum salary is higher ) a whopping average salary range considers! Low hourly wages hit $ 3.60 last year, spiking 64 ve identified six States where the typical salary a. Than in Western countries, the average highest salary in India be considered.Job summaryThe Italy, and be! Since 2012 before social security contributions to low cost manufacturing than low hourly wages $! Account to be approximately $ 14.90 an hour, US Dollars low hourly wages $ 2,582/month Indicates `` of... Salary of $ 37,170 while working in the manufacturing industry advantages of manufacturing in Mexico 14 for salaries and &... 50 countries and over 1 million facts: Get quick analyses with our professional research service were 5 % than... Several organizations like the World Bank, International Monetary Fund or the OECD on regular... All of them have done so ( API ) provides direct access to data! For the vast majority of companies, whether small, medium-size or huge multinationals the now. Much higher salaries for manufacturing workers data across 634 cities in Mullinville, KS Germany 33.060. Much lower Italy, and youll be taking a risk if you contract with a company there jobs to. This page provides values for wages in manufacturing reported in several countries, individual States have the power to the. Tools to understand human capital management and corporate performance, 2023, average...

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