Average Salary in Ecuador 2024

Are you curious about salary trends in Ecuador? This insightful article delves into various aspects of the nation's wage system, including the pay scale, wage gap, salary yearly increments, and how earnings differ based on education level and years of experience. Discover key information that sheds light on salary disparities and gain a comprehensive understanding of the Ecuadorian salary landscape. Stay informed and make informed decisions regarding your career and financial goals.
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 Ecuador in 2024?

What is the average salary in Ecuador in 2024?
520USD
(USD 6,300 yearly)
Low 240 USD
Average 520 USD
High 2,300 USD
The average salary for individuals working in Ecuador is about USD 520 per month. However, salary ranges from USD 240 (lowest average) to USD 2,300 (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 Ecuador in 2023, salaries changed by +0.7% so far. Looking ahead, economists project a gradual recovery in the job market. At the end of the year, we will be able to fully compare 2023 and 2024.

Pay Scale and Salaries in Ecuador

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 2,300, 75% of the people earn USD 720 or less. 50% employees earn less USD 510 or less, 25% of the employees earn less than USD 380.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 2,300, 75% of the people earn USD 720 or less. 50% employees earn less USD 510 or less, 25% of the employees earn less than USD 380.

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 Ecuador the minimum salary is USD 240.

Median Salary

The median salary for Ecuador is USD 420, depicting the middle point of all salaries in a dataset. This figure provides a more balanced view of income distribution and is commonly used to estimate 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 Ecuador the salary ranges from USD 240 to USD 2,300.

Annual Salary Increments in Ecuador

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

During 2024, Ecuador 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%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024 employees in Ecuador received around 0.7% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.7%.

Historical Graph of Annual Salary Increments in Ecuador

Employees based in Ecuador have experienced a salary increase averaging 2.8% per year in recent years. This translates to a range of 0.7% to 5.3% increment per year.Download chartGet chart linkShare on FacebookShare on Twitter
The average yearly salary increase for employees in Ecuador over the past years ranged from 0.7% to 5.3%. On average, this represents a 2.8% increment per year.

Salary Forecast and Trends for the Future in Ecuador

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 2.8%. Estimated range is between 1.5% and 4.3%.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 2.8%. Estimated range is between 1.5% and 4.3%.

Gender Wage Gap in Ecuador

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

Actual wage gap in Ecuador is 7.0%.Download chartGet chart linkShare on FacebookShare on Twitter
In Ecuador, the actual wage gap amounts to 7.0%.
It's due to many factors, such as:
  • Discrimination against a specific gender.
  • On an average, women take 10% more days of paid leave compared to men annually.
  • Compared to men, women are less likely to hold a college degree.
  • Women are more likely than men to take on caregiving responsibilities for children and elderly relatives.
  • In comparison to men, women are more prone to working part-time, resulting in lower earnings compared to full-time workers.
  • Women generally find themselves working in lower-paying occupations compared to 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 receiving a bachelor's degree present a multitude of benefits. First and foremost, they significantly enhance career prospects, leading to higher earning potential and broader access to job opportunities. Alongside financial advantages, pursuing a bachelor's degree fosters personal growth, develops critical thinking skills, and offers the chance to specialize in a particular field of interest. It also facilitates valuable networking opportunities and promotes the cultivation 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. illustrates a profound commitment to expanding human understanding and forging a transformative 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 around 6%-10%. Expertise and leadership garner 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 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 roughly 6%-10%. Expertise and leadership earn 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 Ecuador

What is the average hourly wage in the Ecuador?

Average Hourly Wage
3USD
Low 1 USD
Average 3 USD
High 13 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 typically connected 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 disrupt 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: Within the organization, a few hourly jobs may present limited opportunities for career growth, professional development, or upward mobility.
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 Ecuador

What are the best paying jobs in Ecuador?

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

Highest paying jobs Ecuador?

  1. Surgeon (USD 2,300)
  2. Doctor (USD 2,100)
  3. Chief Executive Officer (CEO) (USD 2,000)
  4. Registered Nurse Anesthetist (USD 2,000)
  5. Dentist (USD 1,900)
  6. Airline Pilot (USD 1,800)
  7. Intellectual Property Lawyer (USD 1,700)
  8. Marketing Manager (USD 1,500)
  9. Marketing Director (USD 1,500)
  10. Sales Director (USD 1,500)
  11. Sales Manager (USD 1,500)
  12. Petroleum Engineer (USD 1,400)
  13. Brand Manager (USD 1,400)
  14. Marketer (USD 1,400)
  15. Judge (USD 1,400)
  16. Treasurer (USD 1,400)
  17. Controller (USD 1,400)
  18. Pharmacist (USD 1,300)
  19. Tax Lawyer (USD 1,300)
  20. Lawyer (USD 1,300)
List with worst paid jobs in EcuadorDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Ecuador?

  1. Cashier (USD 250)
  2. Childcare Worker (USD 260)
  3. Stock clerk (USD 270)
  4. Elder Care Worker (USD 270)
  5. Receptionist (USD 280)
  6. Bartender (USD 300)
  7. Food and beverage server (USD 300)
  8. Janitor (USD 300)
  9. Waiter (USD 310)
  10. Tour Guide (USD 310)
  11. Customer Service Representative (USD 370)
  12. Hotel Concierge (USD 380)
  13. Rehabilitation Counselor (USD 380)
  14. Travel Agent (USD 410)
  15. Secretary (USD 430)
  16. Painter (USD 440)
  17. Carpenter (USD 460)
  18. Bus Driver (USD 470)
  19. Artist (USD 470)
  20. Truck Driver (USD 480)
List with best paid industries in EcuadorDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 1,500)
  2. Business and Management (USD 1,300)
  3. Marketing and Sales (USD 1,200)
  4. Engineering (USD 1,100)
  5. Law (USD 990)
  6. Accounting and Finance (USD 980)
  7. Computer and Information Technology (USD 970)
  8. Transportation and Logistics (USD 940)
  9. Science (USD 930)
  10. Education and Training (USD 770)
  11. Other (USD 580)
  12. Hospitality and Tourism (USD 480)
  13. Social Services (USD 400)
  14. Services (USD 360)