Average Salary in Latvia 2024

Unveiling Latvia's Salary Landscape: Exploring Pay Scales, Wage Gaps, and Yearly Increments. Discover how education levels and years of experience influence salaries, as we delve into the intricacies of the Latvian job market. Gain valuable insights into the wage disparities and yearly increments that shape career progressions in this Baltic nation. Stay informed and empowered with our comprehensive breakdown of salary trends, offering a holistic view of compensation dynamics in Latvia.
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 Latvia in 2024?

What is the average salary in Latvia in 2024?
1,700EUR
(EUR 20,400 yearly)
Low 770 EUR
Average 1,700 EUR
High 7,500 EUR
The average salary in Latvia is typically EUR 1,700 per month. However, salaries can vary greatly, ranging from EUR 770 (lowest average) to EUR 7,500 (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 Latvia in 2023, salaries changed by +1.3% 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 Latvia

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than EUR 7,500, 75% of the people earn EUR 2,400 or less. 50% employees earn less EUR 1,700 or less, 25% of the employees earn less than EUR 1,300.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than EUR 7,500, 75% of the people earn EUR 2,400 or less. 50% employees earn less EUR 1,700 or less, 25% of the employees earn less than EUR 1,300.

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 Latvia the minimum salary is EUR 770.

Median Salary

In Latvia, the median salary of EUR 1,400 represents the middle point of all salaries in a dataset. This metric offers a more equitable perspective on income distribution and is frequently employed 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 Latvia the salary ranges from EUR 770 to EUR 7,500.

Annual Salary Increments in Latvia

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

In 2024, the average salary increment for Latvia employees was 1.3%. Please note that this is an average across all job sectors. On a global scale, the average for 2024 is 1.3%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024, the average salary increase for employees in Latvia was around 1.3%. It's important to highlight that this figure is an average across all job sectors. Globally, the average for 2024 is 1.3%.

Historical Graph of Annual Salary Increments in Latvia

Within the past years, employees in Latvia have seen their salaries increase by an average of 7.0% per year. This encompasses a range of 1.3% to 11.9% increment per year.Download chartGet chart linkShare on FacebookShare on Twitter
Employees based in Latvia have experienced a salary increase averaging 7.0% per year in recent years. This translates to a range of 1.3% to 11.9% increment per year.

Salary Forecast and Trends for the Future in Latvia

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 6.6%. Estimated range is between 3.6% and 10.1%.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 6.6%. Estimated range is between 3.6% and 10.1%.

Gender Wage Gap in Latvia

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

The actual wage gap in Latvia reaches 24.0%.Download chartGet chart linkShare on FacebookShare on Twitter
24.0% is the current wage gap in Latvia.
It's due to many factors, such as:
  • Gender disparity.
  • On average, women use 10% more paid vacation days per year compared to men.
  • 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.
  • Part-time employment is disproportionately dominated by women, who usually earn less than their full-time counterparts.
  • When it comes to occupations, women are more inclined towards lower-paying ones than men.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

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. 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 successful completion of high school and attainment of a bachelor's degree bring forth a wide range of advantages. Primarily, they greatly enhance one's career prospects by increasing earning potential and opening doors to a broader range of job opportunities. Apart from monetary benefits, pursuing a bachelor's degree nurtures personal growth, fosters critical thinking skills, and enables specialization in a chosen field of interest. Furthermore, it facilitates valuable networking possibilities and promotes the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative endeavor that leads to a more enriching 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 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 18%-22% 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 approximately 10%-14%. Expertise and leadership yield 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 18%-22% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Latvia

What is the average hourly wage in the Latvia?

Average Hourly Wage
10EUR
Low 5 EUR
Average 10 EUR
High 44 EUR

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

  • Income instability: Hourly wages may result in irregular or fluctuating income, making it difficult 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 normally attributed 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 interrupt work-life balance and make it difficult to maintain consistent routines.
  • Uncertain job security: In comparison to salaried positions, hourly positions can face greater job insecurity as they are more prone to layoffs, downsizing, or changes in demand.
  • Limited career advancement: There are instances where hourly employment offers restricted 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 Latvia

What are the best paying jobs in Latvia?

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

Highest paying jobs Latvia?

  1. Surgeon (EUR 7,400)
  2. Doctor (EUR 6,700)
  3. Chief Executive Officer (CEO) (EUR 6,400)
  4. Registered Nurse Anesthetist (EUR 6,200)
  5. Dentist (EUR 6,000)
  6. Airline Pilot (EUR 5,800)
  7. Intellectual Property Lawyer (EUR 5,600)
  8. Marketing Manager (EUR 4,900)
  9. Marketing Director (EUR 4,900)
  10. Sales Director (EUR 4,600)
  11. Sales Manager (EUR 4,600)
  12. Petroleum Engineer (EUR 4,600)
  13. Brand Manager (EUR 4,500)
  14. Marketer (EUR 4,500)
  15. Judge (EUR 4,400)
  16. Treasurer (EUR 4,400)
  17. Controller (EUR 4,400)
  18. Pharmacist (EUR 4,300)
  19. Tax Lawyer (EUR 4,200)
  20. Lawyer (EUR 4,200)
List with worst paid jobs in LatviaDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Latvia?

  1. Cashier (EUR 800)
  2. Childcare Worker (EUR 840)
  3. Stock clerk (EUR 850)
  4. Elder Care Worker (EUR 860)
  5. Receptionist (EUR 890)
  6. Bartender (EUR 1,000)
  7. Food and beverage server (EUR 1,000)
  8. Janitor (EUR 1,000)
  9. Waiter (EUR 1,000)
  10. Tour Guide (EUR 1,000)
  11. Customer Service Representative (EUR 1,200)
  12. Hotel Concierge (EUR 1,300)
  13. Rehabilitation Counselor (EUR 1,300)
  14. Travel Agent (EUR 1,400)
  15. Secretary (EUR 1,400)
  16. Painter (EUR 1,500)
  17. Carpenter (EUR 1,500)
  18. Bus Driver (EUR 1,600)
  19. Artist (EUR 1,600)
  20. Truck Driver (EUR 1,600)
List with best paid industries in LatviaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (EUR 4,800)
  2. Business and Management (EUR 4,100)
  3. Marketing and Sales (EUR 3,700)
  4. Engineering (EUR 3,400)
  5. Law (EUR 3,300)
  6. Accounting and Finance (EUR 3,200)
  7. Computer and Information Technology (EUR 3,200)
  8. Transportation and Logistics (EUR 3,100)
  9. Science (EUR 3,100)
  10. Education and Training (EUR 2,600)
  11. Other (EUR 1,900)
  12. Hospitality and Tourism (EUR 1,600)
  13. Social Services (EUR 1,300)
  14. Services (EUR 1,200)