Mongolia raised its the minimum wage to MNT 550 thousand (about USD 145) per month.  Thus, the minimum wage increased by MNT 130,000 or 31 percent from MNT 420 thousand. The decision came effect from January 1, 2023.

There are 1.1 million officially registered employees in the country. Around 10 percent of them receive minimum-wage salaries, according to the National Statistics Office.

According to the Mongolian National Statistics Office, the average salary in Mongolia in 2022 is MNT 1,3 million per month, which at the current rate corresponds to 465 U.S. dollars. Much depends on the education, qualifications and experience of an employee.