Key Facts: Monaco Wages
- Country
- Monaco (MCO)
- Continent
- Europe
- Currency
- Euro (EUR)
- Minimum Wage
- €11.88 /hr ($13.52 USD)
- Average Gross Monthly Salary
- €4,931 /month
- Average Gross Annual Salary
- €59,172 /year
- Median Individual Income
- €40,068 /year
- Standard Work Week
- 39 hours
- Data Source
- Direction du Travail de Monaco / Caisses Sociales de Monaco
- Last Updated
- 2026-02-25
Monaco — Average Salary & Wages
Euro (EUR) Data verified Jan 2026 Sources
The average salary in Monaco is
€59,172 a year
But half of all workers earn less than €40,068 .
The average is lifted by bonuses and high earners. Most workers earn less than that.
The minimum wage in Monaco is €11.88/hr ($13.52 USD) as of 2026. The average gross monthly salary is €4,931 ($5,612.98 USD). The median monthly income is €3,339 ($3,800.80 USD).
Private sector median gross monthly salary is EUR 3,339. Individual annual figure derived from median monthly. Note: these figures reflect the working population, not Monaco's ultra-wealthy residents, who derive income primarily from investments.
Average gross monthly salary in the private sector from IMSEE. Net estimated after social contributions only (no income tax in Monaco for residents). The finance/insurance sector has a median of EUR 6,613, far above the overall median. The workforce is largely composed of cross-border commuters (~60% from France).
Minimum Wage Trend
Since 2020, the minimum wage has grown +17% in nominal terms.
In Context
At minimum wage, a full-time worker in Monaco earns €2,059/mo. That is 42% of the average gross salary.
- Monthly (full-time)
- €2,059 at min. wage
- Share of avg. salary
- 42% gross, before tax
- USD equivalent
- $2,343.77/mo monthly
- Nominal growth
- +17% since 2020
Wage Breakdown
- Hourly
- €11.88
- Monthly
- €2,008Based on 169 hours/month (39 hrs/week)
- Annual
- €24,09612 monthly payments
SMIC monégasque (Salaire Minimum Interprofessionnel de Croissance). Aligned with the French SMIC with an additional flat allowance (~5% above French SMIC). Automatically adjusted when the French SMIC increases. Based on 39 hours/week (169 hours/month), which is the standard workweek in Monaco. Monaco has no personal income tax, so gross and net are closer than in most countries (only social contributions are deducted).
Work Week
- Standard
- 39 hrs/wk
- Maximum
- 48 hrs/wk
- Overtime
- 1.25x pay
Standard workweek is 39 hours, aligned with French labor standards. Maximum 48 hours including overtime. Overtime premium: 25% for first 8 hours above 39, 50% thereafter. Night work and Sunday work attract additional premiums per sector agreements. Mandatory rest of 11 consecutive hours between shifts.
How Monaco Compares
| Metric | Monaco | Europe Avg. | Europe Highest |
|---|---|---|---|
| Min. wage (USD equiv.) | $13.52/hr | $8.37/hr | $17.79/hr (Luxembourg) |
| Avg. salary (USD equiv.) | $5,612.98/mo | $3,218.62/mo | $9,615.38/mo (Switzerland) |
Countries with Similar Minimum Wages
| Country | Min. Wage /hr (USD) |
|---|---|
| New Zealand | $13.58 |
| France | $13.68 |
| Saint Pierre and Miquelon | $13.68 |
| Saint Barthélemy | $13.68 |
| Saint Martin | $13.68 |
| Monaco | $13.52 |
• NEIGHBORING COUNTRIES
Cost of Living
Wages tell half the story. See purchasing power, prices, and quality-of-life context for Monaco on our sister site.
Cost of living in Monaco on costofliving.is →Frequently Asked Questions
What is the minimum wage in Monaco?
The minimum wage in Monaco is €11.88/hr (approximately $13.52 USD), effective since 2025-01-01. SMIC monégasque (Salaire Minimum Interprofessionnel de Croissance). Aligned with the French SMIC with an additional flat allowance (~5% above French SMIC). Automatically adjusted when the French SMIC increases. Based on 39 hours/week (169 hours/month), which is the standard workweek in Monaco. Monaco has no personal income tax, so gross and net are closer than in most countries (only social contributions are deducted).
What is the average salary in Monaco?
The average gross monthly salary in Monaco is €4,931 (approximately $5,612.98 USD). Average gross monthly salary in the private sector from IMSEE. Net estimated after social contributions only (no income tax in Monaco for residents). The finance/insurance sector has a median of EUR 6,613, far above the overall median. The workforce is largely composed of cross-border commuters (~60% from France). Source: IMSEE (Institut Monégasque de la Statistique et des Études Économiques) (2024).
How many hours is the standard work week in Monaco?
The standard work week in Monaco is 39 hours, with a legal maximum of 48 hours. Overtime is paid at 1.25x the normal rate. Standard workweek is 39 hours, aligned with French labor standards. Maximum 48 hours including overtime. Overtime premium: 25% for first 8 hours above 39, 50% thereafter. Night work and Sunday work attract additional premiums per sector agreements. Mandatory rest of 11 consecutive hours between shifts.
How has the minimum wage in Monaco changed over time?
The minimum wage in Monaco has changed as follows: €10.15 in 2020, €10.25 in 2021, €10.85 in 2022, €11.27 in 2023, €11.65 in 2024, €11.88 in 2025. This represents 6 recorded adjustments.
What is the minimum wage in Monaco in USD?
The minimum wage in Monaco converts to approximately $13.52/hr in US dollars, based on current exchange rates. Actual purchasing power may differ due to local cost of living.
What is the average salary in Monaco in USD?
The average gross monthly salary in Monaco is approximately $5,612.98 per month in US dollars, based on current exchange rates. Actual purchasing power may differ due to local cost of living.
How does Monaco's minimum wage compare to the Europe average?
Monaco's minimum wage ranks #11 out of 40 countries with statutory minimum wages in Europe, placing it above the median for Europe.
From Insights
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