Average Salary in Cabo Verde 2024

Are you curious about salary trends in Cabo Verde? This article provides insight into various aspects such as the pay scale, wage gap, yearly increments, and how salaries vary based on education level and years of experience. Discover valuable information to enhance your understanding of the salary landscape in Cabo Verde.
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 Cabo Verde in 2024?

What is the average salary in Cabo Verde in 2024?
310USD
(USD 3,700 yearly)
Low 140 USD
Average 310 USD
High 1,400 USD
In Cabo Verde, the average salary is USD 310 per month. However, salaries can range from USD 140 (lowest average) to USD 1,400 (highest average, actual maximum salary is higher). Keep in mind that these salaries include housing, transport, and other benefits. Careers can have vastly different salary ranges. For specific job titles and their corresponding salaries, please refer below.
In comparison with average salary in Cabo Verde in 2023, salaries changed by +0.9% 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 this year.

Pay Scale and Salaries in Cabo Verde

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 1,400, 75% of the people earn USD 430 or less. 50% employees earn less USD 300 or less, 25% of the employees earn less than USD 230.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 1,400, 75% of the people earn USD 430 or less. 50% employees earn less USD 300 or less, 25% of the employees earn less than USD 230.

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 Cabo Verde the minimum salary is USD 140.

Median Salary

The median salary in Cabo Verde is USD 250, indicating the middle point of all salaries in a dataset, with half of the values above and half below it. This statistic offers a more balanced perspective on income distribution and is widely used to assess average earnings across different 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 Cabo Verde the salary ranges from USD 140 to USD 1,400.

Annual Salary Increments in Cabo Verde

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

In 2024 employees in Cabo Verde received around 0.9% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.9%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024 employees in Cabo Verde received around 0.9% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.9%.

Historical Graph of Annual Salary Increments in Cabo Verde

The average yearly salary increase for employees in Cabo Verde over the past years ranged from 0.9% to 7.7%. On average, this represents a 3.6% increment per year.Download chartGet chart linkShare on FacebookShare on Twitter
On an average, employees in Cabo Verde have received a salary increase ranging from 0.9% to 7.7% per year in recent years. This translates to an average increment of 3.6% per year.

Salary Forecast and Trends for the Future in Cabo Verde

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 3.9%. Estimated range is between 2.2% and 6.0%.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 3.9%. Estimated range is between 2.2% and 6.0%.

Gender Wage Gap in Cabo Verde

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

Actual wage gap in Cabo Verde is 7.0%.Download chartGet chart linkShare on FacebookShare on Twitter
In Cabo Verde, the gender wage gap is 7.0%.
It's due to many factors, such as:
  • Gender bias.
  • On average, women take 10% additional days of paid vacation compared to men each year.
  • Compared to men, women are less likely to hold a college degree.
  • In the realm of caregiving responsibilities for children and elderly relatives, women are more predisposed than men to take them on.
  • Women are more inclined to pursue part-time jobs, and these jobs typically come with lower earnings compared to full-time positions.
  • Lower-paying occupations are more common among women 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 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. 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 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. Beyond financial rewards, pursuing a bachelor's degree fosters personal growth, critical thinking skills, and the chance to specialize in a particular field of interest. It also facilitates valuable networking opportunities and the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative path that opens doors to a more fulfilling 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. manifests a strong passion for learning and advancing society through a rewarding 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 17%-21% 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 nearly 7%-11%. Expertise and leadership acquire higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 23%-27% 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 17%-21% 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 around 7%-11%. Expertise and leadership garner 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 23%-27% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Cabo Verde

What is the average hourly wage in the Cabo Verde?

Average Hourly Wage
2USD
Low 1 USD
Average 2 USD
High 8 USD

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

  • Income instability: Budgeting and planning for expenses may be challenging due to the irregular or fluctuating income that hourly wages can bring.
  • 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 ordinarily related to full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can disturb work-life balance and make it hard to maintain consistent routines.
  • Uncertain job security: Hourly positions may experience higher job insecurity than salaried positions due to their susceptibility to layoffs, downsizing, or changes in demand.
  • Limited career advancement: Some hourly jobs may have limited opportunities for career growth, 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 Cabo Verde

What are the best paying jobs in Cabo Verde?

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

Highest paying jobs Cabo Verde?

  1. Surgeon (USD 1,400)
  2. Doctor (USD 1,300)
  3. Chief Executive Officer (CEO) (USD 1,200)
  4. Registered Nurse Anesthetist (USD 1,200)
  5. Dentist (USD 1,100)
  6. Airline Pilot (USD 1,100)
  7. Intellectual Property Lawyer (USD 1,100)
  8. Marketing Manager (USD 890)
  9. Marketing Director (USD 890)
  10. Sales Director (USD 840)
  11. Sales Manager (USD 840)
  12. Petroleum Engineer (USD 830)
  13. Brand Manager (USD 820)
  14. Marketer (USD 820)
  15. Judge (USD 800)
  16. Treasurer (USD 790)
  17. Controller (USD 790)
  18. Pharmacist (USD 770)
  19. Tax Lawyer (USD 760)
  20. Lawyer (USD 760)
List with worst paid jobs in Cabo VerdeDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Cabo Verde?

  1. Cashier (USD 150)
  2. Childcare Worker (USD 160)
  3. Stock clerk (USD 160)
  4. Elder Care Worker (USD 160)
  5. Receptionist (USD 170)
  6. Bartender (USD 180)
  7. Food and beverage server (USD 180)
  8. Janitor (USD 180)
  9. Waiter (USD 190)
  10. Tour Guide (USD 190)
  11. Customer Service Representative (USD 220)
  12. Hotel Concierge (USD 230)
  13. Rehabilitation Counselor (USD 230)
  14. Travel Agent (USD 250)
  15. Secretary (USD 250)
  16. Painter (USD 260)
  17. Carpenter (USD 270)
  18. Bus Driver (USD 280)
  19. Artist (USD 280)
  20. Truck Driver (USD 290)
List with best paid industries in Cabo VerdeDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 860)
  2. Business and Management (USD 730)
  3. Marketing and Sales (USD 680)
  4. Engineering (USD 620)
  5. Law (USD 590)
  6. Accounting and Finance (USD 590)
  7. Computer and Information Technology (USD 580)
  8. Transportation and Logistics (USD 560)
  9. Science (USD 560)
  10. Education and Training (USD 460)
  11. Other (USD 340)
  12. Hospitality and Tourism (USD 290)
  13. Social Services (USD 240)
  14. Services (USD 220)