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Economy / Featured News / Mongolia News / June 13, 2014

Average Wage stands at MNT 760,000

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The National Statistic Office came out with more data, this time discussing the average wage of Mongolian citizens. Average wage is calculated by examining social insurance payment. A social insurance report came out, covering 33,400 entities. In the first quarter, it was determined that the average wage of Mongolian citizens was MNT 763,000 – 700,000 for women and 830,000 for men.
Comparing the sectors of the Mongolian economy to one another, it is seen that the mining industry places among the highest as the average salary given to its employees at MNT 1.7 million. However, for small businesses, it is the opposite. Receiving the lowest amount compared to other sectors, its average wage rests at MNT 340,000.
If you group the entities into organizations based on company size, differences can be seen. For small businesses of 1 to 9 employees, the average wage is MNT 450,000 per month. Companies of 10 to 49 employees receive an average of MNT 600,000 each month whereas companies with 50 to 99 employees earn around MNT 720,000 each month. For larger companies, who range between 100-199 employees, its workers receive MNT 740,000 per month and for big businesses of over 200 employees, the average salary reaches MNT 900,000 every month.

 

SOURCE: Mongolian Economy




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