Minimum wage 2024

In 2024, the legal minimum wage (wettelijk minimumloon - WML) will increase. Moreover, the very principles of its purpose will change significantly. What changes have occurred in the setting of the minimum wage? How much will employees have to be paid? What are the consequences of innovation for business and the lives of workers?

What has changed in the setting of the minimum wage?

From January 1, 2024, minimum wages per month, week and day will no longer be established. The reason for this is that in the Netherlands, working weeks with different lengths in hours were applied simultaneously. This typically resulted in people working longer workweeks having lower hourly rates than those working fewer hours. They decided to eliminate this injustice.

From the beginning of 2024, the hourly minimum wage will apply exclusively. Accordingly, based on the number of working hours, everyone will be able to calculate the minimum salary per day, week or month. 

In accordance with Law on minimum wage and minimum vacation pay, effective from 07.01.2023/1/1, the minimum salary is revised twice a year. New rates will be introduced on January XNUMX and July XNUMX.

How much will employees have to pay in 2024?

In the Netherlands, workers under 21 have a reduced wage, so younger workers have a lower minimum wage than older workers. In accordance with the employee’s age, from January 1, 2024, the minimum salary will be:

On average, the minimum wage increased by 3,75%. The increase in payments by an additional 1,7% from January 1, 2024, which was much discussed in parliament, did not happen. Now they say that an additional 1,2% increase is possible from July 1, 2024. Whether these promises will be realized will become clear closer to the middle of the year.

What are the consequences of innovation for business and the lives of workers?

Raising the minimum wage will increase the amount of money workers take home. This increase will be especially noticeable among those workers who worked at the minimum wage with a forty-hour work week. Theoretically, this is good, but ongoing inflation may “eat up” the salary increase. In addition, entrepreneurs may have to cut jobs, and employment will become more difficult.

The consequences of increasing the minimum wage for entrepreneurs will lead to additional burden on business. The abolition of the monthly minimum wage will automatically lead to the need to recalculate wages based on the hourly rate. Costs will increase especially noticeably for entrepreneurs whose employees had a forty-hour work week with a minimum wage. You may have to increase prices for goods and services. In addition, payroll administration will need to change. 

Minimum salary in previous years

For comparison, we present data for 2023. We remind you that then not only hourly, but also daily, weekly and monthly minimum wages were established.

Minimum wage from July 1, 2023.

Table: Gross minimum wage per month, week and day from July 1, 2023

*Minimum hourly wage rounded up.

Table: Gross minimum hourly wage for a full week of 36, 38 and 40 hours from July 1, 2023

*Minimum hourly wage rounded up.

Minimum wage from January 1, 2023.

From January 1, 2023, the minimum wage (in euros) in the Netherlands for months, weeks and days is:

*Minimum hourly wage rounded up.

Hourly minimum wage (in euros) depending on the length of the working week and the age of the employee from 1 January 2023*:

*Minimum hourly wage rounded up.

The salary is indicated “gross” - before taxes. To transfer it to “net” - to hand out, use our calculator.

We remind you that entrepreneurs, regardless of what form of business registration they have chosen (EMZ or BV), are required to timely submit reports, including on wages paid, to the regulatory authorities. Errors in this reporting can result in significant fines. Free up time for business by entrusting accounting work to professionals! Order accounting services from Nalog.nl and don’t worry about the timeliness and correctness of reporting!

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