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Monthly average wage increased by 21% to be MNT 1.7 million www.gogo.mn
In Mongolia, the average monthly wage increased by 21% to MNT 1.7 million as of the fourth quarter of last year. A total of 756,000 employees of 49,000 enterprises and organizations were included in the social insurance payment report Q4 2022 of the Social Insurance General Office. Average wage is calculated based on their wage information.
The number of enterprises which pay social insurance fees increased by 2.7 thousand from the same period last year and by 347 from the previous quarter. Employees increased by 36.8 thousand from the same period last year and by 629 thousand from the previous quarter.
The median monthly wage of 756,000 employees included in the 2022 fourth quarter report of social insurance payment is MNT 1.2 million. The median wage increased by MNT 127 thousand from the previous quarter.
By gender, men's average wages are MNT 1.9 million and women's average wages are MNT 1.6 million. By sector, employees in the sector of international organizations and resident representatives have the highest wage which is equal to MNT 5.2 million, and employees in the sector of art, entertainment, and games is the lowest which is equal to MNT 1.1 million.
However monthly average wage increased by 2 times since 2015, the wage that represents purchasing power increased by 36.7%.
Published Date:2023-03-16
