Rédaction Africa Links 24 with A. CHANNAJE
Published on 2024-04-08 16:36:00
With an average net monthly salary of $1,657 in 2024, after taxes, Morocco ranks 48th globally out of 196 countries, according to a recent report published by CEOWORLD magazine, an American economic publication based in New York.
“The average gross monthly salary covers the total cash and in-kind salaries and wages before any tax deductions and social security contributions. They include salaries and wages, compensation for non-working hours, bonuses, and gratuities paid by the employer to the employee. Salaries cover the entire economy and are expressed per full-time equivalent employee. Estimates of the average gross monthly salary are calculated by converting the figures into the national currency of the statistical database of the United Nations Economic Commission for Europe (UNECE), compiled from national and international official sources (IPS, Eurostat, OECD),” the American publication said.
According to the ranking, Morocco ranks 1st in Africa and 48th globally. The second place is taken by South Africa (56th globally), with an average net monthly salary of $1,362. Mauritius follows at 100th place with an average net monthly salary of $486.
In the MENA region (Middle East and North Africa), the United Arab Emirates ranks 18th globally, with an average monthly salary of $3,663, followed by Bahrain ($1,728), Israel (20th with an average salary of $3,608), Qatar (22nd), Saudi Arabia (36th), Kuwait (38th), and then Morocco.
The highest average monthly salary in the world exists in Switzerland ($8,111), Luxembourg ($6,633), the United States ($6,455), Iceland ($6,441), Norway ($5,665), Denmark ($5,642), and Canada ($5,081)…
Meanwhile, the lowest average salary exists in Lesotho: $143.62.
According to CEOWORLD magazine, the sectors currently offering the highest-earning jobs are finance, insurance, electricity, mining, information technology, retail, and education.
On the other hand, administrative support, hospitality, and construction are the least well-paid sectors. “However, it is important to take inflation into account when comparing salaries in different countries. In recent years, many countries have experienced high inflation rates, which can affect purchasing power. These inflation rates have been largely caused by the pandemic and resulting supply chain disruptions. Furthermore, (geo) political risks such as the Russia-Ukraine conflict, strategic competition between the United States and China, ongoing conflict in the Middle East, geopolitical competition between India and China, and China’s economic slowdown have contributed to these issues by exacerbating energy crises and supply chain delays. Unfortunately, the current conflict between Israel and Hamas can only worsen the situation,” the report reads.
According to a recent report from the Ministry of Finance, the average net monthly salary in the public sector in Morocco increased by 18.08% between 2013 and 2023. This improvement is the result of grade promotions and salary increases decided by the government as part of social dialogue. Over this period, the average salary recorded an average annual increase of 1.68%.
By department, Higher Education, Justice, and Health show the highest average net monthly salaries. However, there are few studies currently focusing on the average salary in the private sector in Morocco. The most recent one is a study by a Casablanca-based francophone colleague conducted in 2021, which notes that the average salary in the private sector is approximately 5,292 dirhams gross.
Read the original article(French) on L’Opinion
