Average Salary in Bolivia 2024

This informative article delves into the intricate world of salaries in Bolivia, providing valuable insights on various key aspects. Exploring the pay scale, it analyzes the wage gap prevalent in the country and sheds light on the salary yearly increments that professionals can expect. Additionally, it offers a comprehensive breakdown based on education level and years of experience, unraveling the impact these variables have on earning potential. A must-read for individuals seeking a deeper understanding of Bolivia's salary landscape, this article is packed with vital information and suitable for SEO purposes.
Please be aware that the data we are providing is as accurate as possible at this early stage of the year 2024.

However, as we gather more data for 2024, we make adjustments to ensure the highest level of precision.

What is the average salary in Bolivia in 2024?

What is the average salary in Bolivia in 2024?
390USD
(USD 4,700 yearly)
Low 180 USD
Average 390 USD
High 1,800 USD
The average salary for individuals working in Bolivia is about USD 390 per month. However, salary ranges from USD 180 (lowest average) to USD 1,800 (highest average, actual maximum salary is higher). Please note that this figure takes into account housing, transport, and other benefits. Salaries can significantly vary across different careers. If you would like to know the salary of a specific job title, please see the information below.
In comparison with average salary in Bolivia in 2023, salaries changed by +0.7% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison 2023 and 2024 we are able to do it at the end of the year.

Pay Scale and Salaries in Bolivia

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 1,800, 75% of the people earn USD 540 or less. 50% employees earn less USD 380 or less, 25% of the employees earn less than USD 290.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 1,800, 75% of the people earn USD 540 or less. 50% employees earn less USD 380 or less, 25% of the employees earn less than USD 290.

Minimum Wage and Starting Salary

Minimum Wage and Starting Salary refers to the fundamental pay levels for entry-level positions. It encompasses the legally mandated minimum wage and the initial compensation offered to new hires, impacting job seekers and employers alike. Understanding these figures is crucial for ensuring fair labor practices and successful career beginnings. In Bolivia the minimum salary is USD 180.

Median Salary

In Bolivia, the median salary is USD 310, which represents the middle point of all salaries in a dataset, with half of the values above and half below it. This measurement provides a more balanced view of income distribution and is commonly used to gauge average earnings in various professions and industries.

Salary range and Percentile

Salary Range refers to the span between the lowest and highest salaries in a given dataset, indicating the scope of potential earnings. Percentile, on the other hand, represents a specific point in the range, showing how a salary compares to others in the dataset, making it useful for benchmarking pay levels. In Bolivia the salary ranges from USD 180 to USD 1,800.

Annual Salary Increments in Bolivia

What is the average annual salary increment in the Bolivia? How frequently do employees receive salary raises?

In 2024, Bolivia employees received an average salary increase of 0.7%. It's essential to note that this is an average figure across all job sectors. Globally, the average salary increment for 2024 is 0.7%.Download chartGet chart linkShare on FacebookShare on Twitter
During 2024, Bolivia recorded an average salary increment of around 0.7% for its employees, spanning various job sectors. On a global scale, the average salary increase for 2024 is 0.7%.

Historical Graph of Annual Salary Increments in Bolivia

On an average, employees in Bolivia have received a salary increase ranging from 0.7% to 5.1% per year in recent years. This translates to an average increment of 2.9% per year.Download chartGet chart linkShare on FacebookShare on Twitter
The salary of employees in Bolivia has been increasing in recent years, with an average yearly increment of 2.9%. The increment ranges from 0.7% to 5.1% per year.

Salary Forecast and Trends for the Future in Bolivia

There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.3%. Estimated range is between 1.8% and 5.1%.Download chartGet chart linkShare on FacebookShare on Twitter
There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.3%. Estimated range is between 1.8% and 5.1%.

Gender Wage Gap in Bolivia

What is the difference in pay between mens and womens? Men vs. women salary comparison.

Actual wage gap in Bolivia is 11.0%.Download chartGet chart linkShare on FacebookShare on Twitter
Bolivia has an actual wage gap of 11.0%.
It's due to many factors, such as:
  • Gender discrimination.
  • On average, women take 10% more days of paid vacation than men each year.
  • College degrees are less common among women compared to men.
  • Men are less inclined than women to assume caregiving responsibilities for children and elderly relatives.
  • Women are more inclined to pursue part-time jobs, and these jobs typically come with lower earnings compared to full-time positions.
  • Women are more likely to work in lower-paying occupations than men.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

Completing high school and obtaining a bachelor's degree brings a multitude of benefits. Firstly, it significantly enhances one's career prospects, leading to higher earning potential and access to a broader range of job opportunities. Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge.Download chartGet chart linkShare on FacebookShare on Twitter

The Benefits of Transitioning from High School to a Bachelor's Degree

Completing high school and obtaining a bachelor's degree brings immense benefits. Firstly, it paves the way for better career prospects, unlocking higher earning potential and enabling access to a wider array of job opportunities. Apart from financial advantages, pursuing a bachelor's degree nurtures personal growth, enhances critical thinking skills, and offers the opportunity to specialize in a specific field of interest. It also facilitates valuable networking avenues and the cultivation of a global outlook. Ultimately, the journey from high school to a bachelor's degree is a transformative adventure that leads to a more gratifying and prosperous future.

The Advantages of Progressing from a Bachelor's to a Master's Degree

Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. This advanced education often leads to even greater earning potential and career advancement opportunities. Additionally, master's programs often emphasize research and critical thinking, honing these skills for practical application in professional settings. Networking opportunities expand further, connecting students with experts in their fields. Lastly, pursuing a master's degree is a significant personal achievement, reflecting dedication and a commitment to lifelong learning, which can contribute to personal growth and fulfillment.

The Advantages of Advancing from a Master's to a Ph.D. Degree

Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge. This expertise often leads to prestigious career opportunities in academia, research, and leadership positions in various sectors. Ph.D. programs foster advanced critical thinking, problem-solving, and analytical skills, making graduates highly adaptable and innovative. Networking opportunities expand even further, with collaborations and connections in the global academic and professional communities. Pursuing a Ph.D. is a testament to perseverance, intellectual curiosity, and a commitment to pushing the boundaries of human understanding, ultimately leading to a fulfilling and influential career.

Salary Breakdown Based on Career Levels

How does an individual's salary evolve as time goes on?

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 13%-17% higher, reflecting higher skill level and value to the company. Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of approximately 10%-14%. Expertise and leadership yield higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 21%-25% higher, mirroring strategic influence and heightened leadership contributions.Download chartGet chart linkShare on FacebookShare on Twitter

Salary increase going from Junior to Intermediate

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 13%-17% higher, reflecting higher skill level and value to the company.

Elevation from Intermediate to Senior Role Brings Salary Advancement

Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of nearly 10%-14%. Expertise and leadership secure higher recognition and greater financial rewards.

Executive Promotion: Salary Increase from Senior Position

Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 21%-25% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Bolivia

What is the average hourly wage in the Bolivia?

Average Hourly Wage
2USD
Low 1 USD
Average 2 USD
High 10 USD

What are the disadvantages of being paid on an hourly wage basis?

  • Income instability: Dealing with irregular or fluctuating income from hourly wages can make it challenging to budget and plan for expenses.
  • Limited earning potential: Hourly workers may face limitations in terms of the number of hours they can work, which can restrict their earning potential compared to salaried positions.
  • Lack of benefits: Hourly workers often have fewer or limited benefits such as paid time off, health insurance, retirement plans, and other perks commonly associated with full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can interrupt work-life balance and make it hard to maintain consistent routines.
  • Uncertain job security: When it comes to job insecurity, hourly positions are often more affected than salaried positions due to layoffs, downsizing, or changes in demand.
  • Limited career advancement: In certain cases, hourly positions may have limited prospects for career progression, professional development, or upward mobility within the organization.
It's important to note that these disadvantages may not apply universally and can vary depending on specific job circumstances and individual preferences.

Highest and Lowest Paying Jobs in Bolivia

What are the best paying jobs in Bolivia?

List with best paid jobs in BoliviaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs Bolivia?

  1. Surgeon (USD 1,700)
  2. Doctor (USD 1,600)
  3. Chief Executive Officer (CEO) (USD 1,500)
  4. Registered Nurse Anesthetist (USD 1,500)
  5. Dentist (USD 1,400)
  6. Airline Pilot (USD 1,400)
  7. Intellectual Property Lawyer (USD 1,300)
  8. Marketing Manager (USD 1,200)
  9. Marketing Director (USD 1,200)
  10. Sales Director (USD 1,100)
  11. Sales Manager (USD 1,100)
  12. Petroleum Engineer (USD 1,100)
  13. Brand Manager (USD 1,100)
  14. Marketer (USD 1,100)
  15. Judge (USD 1,100)
  16. Treasurer (USD 1,000)
  17. Controller (USD 1,000)
  18. Pharmacist (USD 970)
  19. Tax Lawyer (USD 960)
  20. Lawyer (USD 960)
List with worst paid jobs in BoliviaDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Bolivia?

  1. Cashier (USD 190)
  2. Childcare Worker (USD 200)
  3. Stock clerk (USD 200)
  4. Elder Care Worker (USD 200)
  5. Receptionist (USD 210)
  6. Bartender (USD 230)
  7. Food and beverage server (USD 230)
  8. Janitor (USD 230)
  9. Waiter (USD 230)
  10. Tour Guide (USD 230)
  11. Customer Service Representative (USD 280)
  12. Hotel Concierge (USD 280)
  13. Rehabilitation Counselor (USD 290)
  14. Travel Agent (USD 310)
  15. Secretary (USD 320)
  16. Painter (USD 330)
  17. Carpenter (USD 340)
  18. Bus Driver (USD 350)
  19. Artist (USD 350)
  20. Truck Driver (USD 360)
List with best paid industries in BoliviaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 1,100)
  2. Business and Management (USD 930)
  3. Marketing and Sales (USD 850)
  4. Engineering (USD 790)
  5. Law (USD 750)
  6. Accounting and Finance (USD 740)
  7. Computer and Information Technology (USD 730)
  8. Transportation and Logistics (USD 710)
  9. Science (USD 700)
  10. Education and Training (USD 580)
  11. Other (USD 430)
  12. Hospitality and Tourism (USD 360)
  13. Social Services (USD 300)
  14. Services (USD 270)