Women, young people and non-nationals are more likely to earn the minimum wage.
The research was carried out by the ESRI when the figure was €8.65.
It found almost 5% of the workforce were earning that in 2014.
Professor Seamus McGuiness says that people in this bracket are not affected by poverty or deprivation.
He said: "It is not the case that high proportions of minimum wage workers are in households that are at risk of poverty or deprivation.
"It is not a good tool if the Government want to reduce levels of poverty or deprivation within society, most of the individuals at risk of poverty or deprivation tend to be either unemployed or in jobless houses."