Average Salary in Colombia 2024

Are you curious about salary trends in Colombia? This article unveils insightful details regarding pay scales, wage gaps, yearly increments, and the breakdown of salaries based on education levels and years of experience. Discover how salaries vary across different sectors and gain a deeper understanding of the Colombian job market. Stay informed and make informed decisions when navigating the professional landscape in Colombia.
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 Colombia in 2024?

What is the average salary in Colombia in 2024?
350USD
(USD 4,200 yearly)
Low 160 USD
Average 350 USD
High 1,600 USD
The average salary in Colombia is typically USD 350 per month. However, salaries can vary greatly, ranging from USD 160 (lowest average) to USD 1,600 (highest average, actual maximum salary is higher). These figures include housing, transport, and other benefits. Different careers offer significantly diverse salary opportunities. If you wish to explore salaries for specific job titles, they are listed below.
In comparison with average salary in Colombia in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison between 2023 and 2024 will be conducted by the year's end.

Pay Scale and Salaries in Colombia

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 1,600, 75% of the people earn USD 490 or less. 50% employees earn less USD 340 or less, 25% of the employees earn less than USD 260.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 1,600, 75% of the people earn USD 490 or less. 50% employees earn less USD 340 or less, 25% of the employees earn less than USD 260.

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 Colombia the minimum salary is USD 160.

Median Salary

In Colombia, the median salary is USD 280, 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 Colombia the salary ranges from USD 160 to USD 1,600.

Annual Salary Increments in Colombia

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

In 2024 employees in Colombia received around 0.8% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
During 2024, Colombia recorded an average salary increment of around 0.8% for its employees, spanning various job sectors. On a global scale, the average salary increase for 2024 is 0.8%.

Historical Graph of Annual Salary Increments in Colombia

The average yearly salary increase for employees in Colombia over the past years ranged from 0.8% to 6.0%. On average, this represents a 3.7% increment per year.Download chartGet chart linkShare on FacebookShare on Twitter
The average yearly salary increase for employees in Colombia over the past years ranged from 0.8% to 6.0%. On average, this represents a 3.7% increment per year.

Salary Forecast and Trends for the Future in Colombia

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 4.0%. 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 4.0%. Estimated range is between 2.2% and 6.0%.

Gender Wage Gap in Colombia

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

In terms of wage disparity, Colombia experiences 1.9%.Download chartGet chart linkShare on FacebookShare on Twitter
In terms of wage disparity, Colombia experiences 1.9%.
It's due to many factors, such as:
  • Gender discrimination.
  • On average, women enjoy 10% more days of paid vacation than men each year.
  • Compared to men, women have a lower likelihood of having a college degree.
  • Females are more inclined than males to assume caregiving responsibilities for children and elderly relatives.
  • When it comes to part-time employment, women outnumber men, and they tend to earn less than full-time workers.
  • Occupations with lower pay are predominantly filled by women rather than men.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

The completion of high school and the acquisition of a bachelor's degree bring about a wealth of benefits. Most importantly, they greatly improve career prospects, leading to higher earning potential and a wider 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

The completion of high school and the acquisition of a bachelor's degree offer a myriad of benefits. Above all, it greatly enhances career prospects, resulting in higher earning potential and expanded job possibilities. Apart from financial rewards, pursuing a bachelor's degree fosters personal growth, nurtures critical thinking skills, and provides the chance to specialize in a specific area of interest. It also facilitates valuable networking opportunities and encourages the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative experience that paves the way for 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. signifies an unwavering commitment to intellectual growth and the pursuit of 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 15%-19% 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 around 10%-14%. Expertise and leadership bring 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 15%-19% 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 about 10%-14%. Expertise and leadership result in 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 Colombia

What is the average hourly wage in the Colombia?

Average Hourly Wage
2USD
Low 1 USD
Average 2 USD
High 9 USD

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

  • Income instability: The irregular or fluctuating income from hourly wages may 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 typically 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 challenging to maintain consistent routines.
  • Uncertain job security: Job insecurity may be more prevalent in hourly positions than in salaried positions, as they are susceptible to layoffs, downsizing, or changes in demand.
  • Limited career advancement: There may be limited opportunities for career growth, professional development, or upward mobility within the organization in some hourly jobs.
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 Colombia

What are the best paying jobs in Colombia?

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

Highest paying jobs Colombia?

  1. Surgeon (USD 1,600)
  2. Doctor (USD 1,400)
  3. Chief Executive Officer (CEO) (USD 1,400)
  4. Registered Nurse Anesthetist (USD 1,300)
  5. Dentist (USD 1,300)
  6. Airline Pilot (USD 1,200)
  7. Intellectual Property Lawyer (USD 1,200)
  8. Marketing Manager (USD 1,100)
  9. Marketing Director (USD 1,100)
  10. Sales Director (USD 950)
  11. Sales Manager (USD 950)
  12. Petroleum Engineer (USD 940)
  13. Brand Manager (USD 920)
  14. Marketer (USD 920)
  15. Judge (USD 910)
  16. Treasurer (USD 900)
  17. Controller (USD 900)
  18. Pharmacist (USD 870)
  19. Tax Lawyer (USD 860)
  20. Lawyer (USD 860)
List with worst paid jobs in ColombiaDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Colombia?

  1. Cashier (USD 170)
  2. Childcare Worker (USD 180)
  3. Stock clerk (USD 180)
  4. Elder Care Worker (USD 180)
  5. Receptionist (USD 190)
  6. Bartender (USD 200)
  7. Food and beverage server (USD 200)
  8. Janitor (USD 210)
  9. Waiter (USD 210)
  10. Tour Guide (USD 210)
  11. Customer Service Representative (USD 250)
  12. Hotel Concierge (USD 260)
  13. Rehabilitation Counselor (USD 260)
  14. Travel Agent (USD 280)
  15. Secretary (USD 290)
  16. Painter (USD 300)
  17. Carpenter (USD 310)
  18. Bus Driver (USD 310)
  19. Artist (USD 320)
  20. Truck Driver (USD 320)
List with best paid industries in ColombiaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 980)
  2. Business and Management (USD 830)
  3. Marketing and Sales (USD 770)
  4. Engineering (USD 710)
  5. Law (USD 670)
  6. Accounting and Finance (USD 660)
  7. Computer and Information Technology (USD 650)
  8. Transportation and Logistics (USD 630)
  9. Science (USD 630)
  10. Education and Training (USD 520)
  11. Other (USD 390)
  12. Hospitality and Tourism (USD 330)
  13. Social Services (USD 270)
  14. Services (USD 250)