Average Salary in Mongolia 2024

Discover the intricacies of salary dynamics in Mongolia, ranging from the comprehensive pay scale to the prevailing wage gap. This enlightening article dissects the annual increments in salaries and provides a detailed breakdown based on education levels and years of experience. Unravel the secrets of Mongolian salaries and gain valuable insights into the fascinating world of compensation.
Please be aware that the data we are providing is as accurate as possible at this early stage of the year 2024.

However, as we gather more data for 2024, we make adjustments to ensure the highest level of precision.

What is the average salary in Mongolia in 2024?

What is the average salary in Mongolia in 2024?
340USD
(USD 4,000 yearly)
Low 150 USD
Average 340 USD
High 1,500 USD
The average salary in Mongolia is typically USD 340 per month. However, salaries can vary greatly, ranging from USD 150 (lowest average) to USD 1,500 (highest average, actual maximum salary is higher). These figures include housing, transport, and other benefits. Different careers offer significantly diverse salary opportunities. If you wish to explore salaries for specific job titles, they are listed below.
In comparison with average salary in Mongolia in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison 2023 and 2024 we are able to do it at the end of the year.

Pay Scale and Salaries in Mongolia

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 1,500, 75% of the people earn USD 460 or less. 50% employees earn less USD 320 or less, 25% of the employees earn less than USD 240.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 1,500, 75% of the people earn USD 460 or less. 50% employees earn less USD 320 or less, 25% of the employees earn less than USD 240.

Minimum Wage and Starting Salary

Minimum Wage and Starting Salary refers to the fundamental pay levels for entry-level positions. It encompasses the legally mandated minimum wage and the initial compensation offered to new hires, impacting job seekers and employers alike. Understanding these figures is crucial for ensuring fair labor practices and successful career beginnings. In Mongolia the minimum salary is USD 150.

Median Salary

Located in Mongolia, the median salary is USD 270, signifying the middle point of all salaries in a dataset. This measurement offers a more equitable representation of income distribution and is widely used to gauge average earnings in various professions and industries.

Salary range and Percentile

Salary Range refers to the span between the lowest and highest salaries in a given dataset, indicating the scope of potential earnings. Percentile, on the other hand, represents a specific point in the range, showing how a salary compares to others in the dataset, making it useful for benchmarking pay levels. In Mongolia the salary ranges from USD 150 to USD 1,500.

Annual Salary Increments in Mongolia

What is the average annual salary increment in the Mongolia? How frequently do employees receive salary raises?

During 2024, employees in Mongolia witnessed an average salary growth of 0.8%. This represents an overall average across various job sectors. The worldwide average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024, the average salary increment for Mongolia employees was 0.8%. Please note that this is an average across all job sectors. On a global scale, the average for 2024 is 0.8%.

Historical Graph of Annual Salary Increments in Mongolia

In the past years, employees in Mongolia have seen their salaries rise by an average of 3.7% per year. The increment ranges from 0.8% to 5.6% per year on average.Download chartGet chart linkShare on FacebookShare on Twitter
The average yearly salary increase for employees in Mongolia over the past years ranged from 0.8% to 5.6%. On average, this represents a 3.7% increment per year.

Salary Forecast and Trends for the Future in Mongolia

There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.5%. Estimated range is between 1.9% and 5.3%.Download chartGet chart linkShare on FacebookShare on Twitter
There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.5%. Estimated range is between 1.9% and 5.3%.

Gender Wage Gap in Mongolia

What is the difference in pay between mens and womens? Men vs. women salary comparison.

In terms of wage disparity, Mongolia experiences 11.0%.Download chartGet chart linkShare on FacebookShare on Twitter
The gender pay disparity in Mongolia is 11.0%.
It's due to many factors, such as:
  • Unequal treatment based on gender.
  • On average, women have a 10% higher number of days of paid vacation than men each year.
  • A college degree is more frequently attained by men than women.
  • Men are less inclined than women to assume caregiving responsibilities for children and elderly relatives.
  • The majority of part-time workers are women, and they typically earn less than those in full-time positions.
  • In comparison to men, women are more likely to work in lower-paying occupations.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

Completing high school and obtaining a bachelor's degree brings a multitude of benefits. Firstly, it significantly enhances one's career prospects, leading to higher earning potential and access to a broader range of job opportunities. Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge.Download chartGet chart linkShare on FacebookShare on Twitter

The Benefits of Transitioning from High School to a Bachelor's Degree

High school completion and achieving a bachelor's degree offer numerous advantages. Primarily, they substantially improve career prospects, resulting in increased earning potential and wider job options. Besides financial benefits, pursuing a bachelor's degree fosters personal growth, sharpens critical thinking abilities, and enables specialization in a chosen field. It also provides valuable networking prospects and facilitates the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a life-altering path that opens doors to a more satisfying and successful future.

The Advantages of Progressing from a Bachelor's to a Master's Degree

Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. This advanced education often leads to even greater earning potential and career advancement opportunities. Additionally, master's programs often emphasize research and critical thinking, honing these skills for practical application in professional settings. Networking opportunities expand further, connecting students with experts in their fields. Lastly, pursuing a master's degree is a significant personal achievement, reflecting dedication and a commitment to lifelong learning, which can contribute to personal growth and fulfillment.

The Advantages of Advancing from a Master's to a Ph.D. Degree

Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge. This expertise often leads to prestigious career opportunities in academia, research, and leadership positions in various sectors. Ph.D. programs foster advanced critical thinking, problem-solving, and analytical skills, making graduates highly adaptable and innovative. Networking opportunities expand even further, with collaborations and connections in the global academic and professional communities. Pursuing a Ph.D. exemplifies a relentless pursuit of excellence and a path towards a transformative and influential career.

Salary Breakdown Based on Career Levels

How does an individual's salary evolve as time goes on?

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 13%-17% higher, reflecting higher skill level and value to the company. Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of roughly 9%-13%. Expertise and leadership earn higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 18%-22% higher, mirroring strategic influence and heightened leadership contributions.Download chartGet chart linkShare on FacebookShare on Twitter

Salary increase going from Junior to Intermediate

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 13%-17% higher, reflecting higher skill level and value to the company.

Elevation from Intermediate to Senior Role Brings Salary Advancement

Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of nearly 9%-13%. Expertise and leadership acquire higher recognition and greater financial rewards.

Executive Promotion: Salary Increase from Senior Position

Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 18%-22% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Mongolia

What is the average hourly wage in the Mongolia?

Average Hourly Wage
2USD
Low 1 USD
Average 2 USD
High 9 USD

What are the disadvantages of being paid on an hourly wage basis?

  • Income instability: Dealing with irregular or fluctuating income from hourly wages can make it challenging to budget and plan for expenses.
  • Limited earning potential: Hourly workers may face limitations in terms of the number of hours they can work, which can restrict their earning potential compared to salaried positions.
  • Lack of benefits: Hourly workers often have fewer or limited benefits such as paid time off, health insurance, retirement plans, and other perks commonly associated with full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can disrupt work-life balance and make it hard to maintain consistent routines.
  • Uncertain job security: Compared to salaried positions, job insecurity can be heightened in hourly positions due to their vulnerability to layoffs, downsizing, or changes in demand.
  • Limited career advancement: There may be limited opportunities for career growth, professional development, or upward mobility within the organization in some hourly jobs.
It's important to note that these disadvantages may not apply universally and can vary depending on specific job circumstances and individual preferences.

Highest and Lowest Paying Jobs in Mongolia

What are the best paying jobs in Mongolia?

List with best paid jobs in MongoliaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs Mongolia?

  1. Surgeon (USD 1,500)
  2. Doctor (USD 1,400)
  3. Chief Executive Officer (CEO) (USD 1,300)
  4. Registered Nurse Anesthetist (USD 1,300)
  5. Dentist (USD 1,200)
  6. Airline Pilot (USD 1,200)
  7. Intellectual Property Lawyer (USD 1,100)
  8. Marketing Manager (USD 960)
  9. Marketing Director (USD 960)
  10. Sales Director (USD 900)
  11. Sales Manager (USD 900)
  12. Petroleum Engineer (USD 900)
  13. Brand Manager (USD 880)
  14. Marketer (USD 880)
  15. Judge (USD 860)
  16. Treasurer (USD 850)
  17. Controller (USD 850)
  18. Pharmacist (USD 830)
  19. Tax Lawyer (USD 820)
  20. Lawyer (USD 820)
List with worst paid jobs in MongoliaDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Mongolia?

  1. Cashier (USD 160)
  2. Childcare Worker (USD 170)
  3. Stock clerk (USD 170)
  4. Elder Care Worker (USD 170)
  5. Receptionist (USD 180)
  6. Bartender (USD 190)
  7. Food and beverage server (USD 190)
  8. Janitor (USD 200)
  9. Waiter (USD 200)
  10. Tour Guide (USD 200)
  11. Customer Service Representative (USD 240)
  12. Hotel Concierge (USD 240)
  13. Rehabilitation Counselor (USD 250)
  14. Travel Agent (USD 270)
  15. Secretary (USD 270)
  16. Painter (USD 280)
  17. Carpenter (USD 290)
  18. Bus Driver (USD 300)
  19. Artist (USD 300)
  20. Truck Driver (USD 310)
List with best paid industries in MongoliaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 930)
  2. Business and Management (USD 790)
  3. Marketing and Sales (USD 730)
  4. Engineering (USD 670)
  5. Law (USD 640)
  6. Accounting and Finance (USD 630)
  7. Computer and Information Technology (USD 620)
  8. Transportation and Logistics (USD 600)
  9. Science (USD 600)
  10. Education and Training (USD 500)
  11. Other (USD 370)
  12. Hospitality and Tourism (USD 310)
  13. Social Services (USD 250)
  14. Services (USD 230)