Budget plans will give minimum wage earner extra €216 euros per month

Employees who earn the minimum wage will see their net monthly income rise by 216 euros in 2023 compared to July 2022, an increase of 13.17 percent. The calculation assumes a 10 percent increase in the gross minimum wage to 1,932 euros per month. HR service provider Visma Raet reported this after calculating the Cabinet plans.

According to the researchers, the net monthly salary for Netherlands residents with an average income will increase by 91 euros in 2023, an increase of 3.7 percent. Employees who earn an income of twice the average will receive an additional 97 euros per month next year, an increase of 2.42 percent. The calculations did not include changes in pension contributions, Visma Raet added.

The HR service provider called the salary increases very necessary. At the end of August, Visma Raet reported that many Netherlands residents are concerned about whether their salary next year would be sufficient to cover the rising costs of living. Visma Raet said that these concerns are putting extra pressure on salary negotiations. According to the HR service provider, half of Netherlands residents expect the economy to only worsen in the coming six months.