It is no secret that Qatar is one of the richest countries in the world in terms of per capita income.

And now, the latest research by FounderPass — a company that connects founders with business tools and Software as a Service companies — has revealed a list of countries with the world’s highest and lowest average salaries.

While Qatar ranked sixth in the world with a Monthly Average Net Salary (after tax) of $4,068.56, UAE came in 10th spot with $3,434.47.

While Switzerland had the highest average salary in the world — $6,632.59 —Luxembourg ($5,302.90) and Singapore ($4,764.75) finished in second and third spots respectively.

Meanwhile, Nigeria ($64.32) was ranked as the nation with the lowest monthly average salary in the world. Egypt ($117.85) and Pakistan ($177.48) finished just above Nigeria.

Max Bramwell, the founder of FounderPass, explored some of the factors driving the disparities.

“Renowned for its high standard of living and strong economy, Switzerland tops the list with some of the highest average salaries globally. The country’s robust financial sector, advanced technology industry, and skilled workforce contribute to its prosperity and high-income levels for its citizens,” said Max.

“As one of the wealthiest countries in the world, Luxembourg boasts high average salaries driven by its thriving financial services sector, strategic location in Europe, and favorable tax policies. The country’s stable economy and high living standards make it an attractive destination for professionals seeking lucrative job opportunities,” he added.

Max spoke about some of the reasons Nigeria found itself at the bottom of the list.

“As Africa’s most populous nation and largest economy, Nigeria holds immense potential. However, economic challenges such as corruption, infrastructure deficits, and high unemployment rates hinder progress. These factors contribute to lower average salaries and living standards for many Nigerians, underscoring the need for comprehensive economic reforms and investment in human capital,” he said.

Countries with Highest Average Salaries

1. Switzerland — $6,632.59
2. Luxembourg — $5,302.90
3. Singapore — $4,764.75
4. United States — $4,554.66
5. Hong Kong — $4,175.31
6. Qatar — $4,068.56
7. Denmark — $3,650.57
8. Australia — $3,504.87
9. Netherlands — $3,481.56
10. UAE — $3,434.47

Countries with Lowest Average Salaries

86. Tunisia — $302.45
87. Libya — $295.33
88. Algeria — $291.11
89. Bangladesh — $246.95
90. Iran — $236.24
91. Nepal — $217.34
92. Sri Lanka — $191.24
93. Venezuela — $190.17
94. Pakistan — $177.48
95. Egypt — $117.85
96. Nigeria — $64.32

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Source: FounderPass