The upcoming minimum wage hike will result in net wages for employees age 21 and older of approximately 2%. Those receiving the minimum wage will receive an extra 36.27 euros from July, calculated by HR service provider Visma Raet. Gross, the minimum wage will increase by just over 3%.
This brings the minimum wage for people aged 21 and over to €1,995 a month. This amount will be adjusted again on 1 January, but then it applies to people working 36 hours. If you work more hours, you also earn more. From 2024, the Netherlands will switch to a minimum hourly wage. This is fairer because 36, 38 or 40 hour working weeks apply in various industries. The employee himself has no influence on this.
Based on the minimum wage that applies from July 1, Visma Raet calculated that those who work 38 hours will receive an additional gross amount of around 110 euros per month in 2024. With a 40-hour working week, the gross monthly minimum wage is higher around 222 euros.
Earlier this year, the minimum wage increased significantly. Then there was a 10% gross increase.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
