The present invention provides a low dusting joint compound comprising a filler, a binder, a thickener and one or more synthetic polymeric waxes that are at least slightly soluble in water and are solid at room temperature. Preferably the wax includes a high molecular weight polyethylene glycol or methoxy polyethylene glycol having an average melting point of from about 80.degree. F. (27.degree. F.) to about 150.degree. F. (80.degree. C.). These additives impart low dusting properties without a sticky or oily feel. High molecular weight synthetic waxes also act as an internal binder to hold the joint compound together and improves paint gloss retention. The invention results in a joint compound with improved properties for drywall finishing.