Average Salary in Venezuela 2024

Discover the intricacies of the salary landscape in Venezuela with our comprehensive article. Unveiling the pay scale, wage gap, salary yearly increments, and breakdowns based on education level and years of experience, we shed light on the diverse factors influencing earnings. Gain a deeper understanding of the economic dynamics and the challenges faced by professionals navigating the Venezuelan job market. Stay informed and make informed decisions about your career trajectory in this dynamic economic climate.
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 Venezuela in 2024?

What is the average salary in Venezuela in 2024?
200USD
(USD 2,400 yearly)
Low 90 USD
Average 200 USD
High 850 USD
In Venezuela, individuals usually earn an average salary of USD 200 per month. Nonetheless, salaries can span from USD 90 (lowest average) to USD 850 (highest average, actual maximum salary is higher). The indicated salary incorporates housing, transport, and other benefits. There are significant variations in salaries across diverse professions. To find out about specific job titles and their respective salaries, please see the information below.
In comparison with average salary in Venezuela in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. The full comparison between 2023 and 2024 will be available by the year's end.

Pay Scale and Salaries in Venezuela

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 850, 75% of the people earn USD 270 or less. 50% employees earn less USD 190 or less, 25% of the employees earn less than USD 140.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 850, 75% of the people earn USD 270 or less. 50% employees earn less USD 190 or less, 25% of the employees earn less than USD 140.

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 Venezuela the minimum salary is USD 90.

Median Salary

Located in Venezuela, the median salary is USD 160, signifying the middle point of all salaries in a dataset. This measurement offers a more equitable representation of income distribution and is widely 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 Venezuela the salary ranges from USD 90 to USD 850.

Annual Salary Increments in Venezuela

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

In 2024, the average salary increment for Venezuela employees was 0.8%. Please note that this is an average across all job sectors. On a global scale, the average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
During 2024, employees in Venezuela witnessed an average salary growth of 0.8%. This represents an overall average across various job sectors. The worldwide average for 2024 is 0.8%.

Historical Graph of Annual Salary Increments in Venezuela

The average yearly salary increase for employees in Venezuela over the past years ranged from 0.8% to 6.6%. 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 Venezuela over the past years ranged from 0.8% to 6.6%. On average, this represents a 3.7% increment per year.

Salary Forecast and Trends for the Future in Venezuela

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 4.2%. Estimated range is between 2.3% and 6.5%.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 4.2%. Estimated range is between 2.3% and 6.5%.

Gender Wage Gap in Venezuela

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

The wage gap in Venezuela currently stands at 11.0%.Download chartGet chart linkShare on FacebookShare on Twitter
In Venezuela, the actual wage gap amounts to 11.0%.
It's due to many factors, such as:
  • Discrimination against a specific gender.
  • On average, women take 10% extra days of paid vacation per year compared to men.
  • Compared to men, women have a lower likelihood of having a college degree.
  • Men are less inclined than women to assume 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?

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. 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

High school completion and achieving a bachelor's degree offer numerous advantages. Primarily, they substantially improve career prospects, resulting in increased earning potential and wider job options. Besides financial benefits, pursuing a bachelor's degree fosters personal growth, sharpens critical thinking abilities, and enables specialization in a chosen field. It also provides valuable networking prospects and facilitates the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a life-altering path that opens doors to a more satisfying and successful 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 14%-18% 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 7%-11%. 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 14%-18% 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 21%-25% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Venezuela

What is the average hourly wage in the Venezuela?

Average Hourly Wage
1USD
Low 1 USD
Average 1 USD
High 5 USD

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

  • Income instability: Planning for expenses and budgeting can be challenging when dealing with hourly wages that result in irregular or fluctuating income.
  • 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 disturb work-life balance and make it challenging to maintain consistent routines.
  • Uncertain job security: Layoffs, downsizing, or changes in demand can make hourly positions more vulnerable to job insecurity when compared to salaried positions.
  • Limited career advancement: Some hourly roles might have restricted possibilities for career advancement, professional growth, or upward movement 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 Venezuela

What are the best paying jobs in Venezuela?

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

Highest paying jobs Venezuela?

  1. Surgeon (USD 840)
  2. Doctor (USD 760)
  3. Chief Executive Officer (CEO) (USD 720)
  4. Registered Nurse Anesthetist (USD 710)
  5. Dentist (USD 680)
  6. Airline Pilot (USD 650)
  7. Intellectual Property Lawyer (USD 630)
  8. Marketing Manager (USD 560)
  9. Marketing Director (USD 560)
  10. Sales Director (USD 530)
  11. Sales Manager (USD 530)
  12. Petroleum Engineer (USD 520)
  13. Brand Manager (USD 510)
  14. Marketer (USD 510)
  15. Judge (USD 500)
  16. Treasurer (USD 490)
  17. Controller (USD 490)
  18. Pharmacist (USD 480)
  19. Tax Lawyer (USD 480)
  20. Lawyer (USD 480)
List with worst paid jobs in VenezuelaDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Venezuela?

  1. Cashier (USD 100)
  2. Childcare Worker (USD 100)
  3. Stock clerk (USD 100)
  4. Elder Care Worker (USD 100)
  5. Receptionist (USD 110)
  6. Bartender (USD 110)
  7. Food and beverage server (USD 110)
  8. Janitor (USD 120)
  9. Waiter (USD 120)
  10. Tour Guide (USD 120)
  11. Customer Service Representative (USD 140)
  12. Hotel Concierge (USD 140)
  13. Rehabilitation Counselor (USD 140)
  14. Travel Agent (USD 160)
  15. Secretary (USD 160)
  16. Painter (USD 170)
  17. Carpenter (USD 170)
  18. Bus Driver (USD 180)
  19. Artist (USD 180)
  20. Truck Driver (USD 180)
List with best paid industries in VenezuelaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 540)
  2. Business and Management (USD 460)
  3. Marketing and Sales (USD 420)
  4. Engineering (USD 390)
  5. Law (USD 370)
  6. Accounting and Finance (USD 370)
  7. Computer and Information Technology (USD 360)
  8. Transportation and Logistics (USD 350)
  9. Science (USD 350)
  10. Education and Training (USD 290)
  11. Other (USD 220)
  12. Hospitality and Tourism (USD 180)
  13. Social Services (USD 150)
  14. Services (USD 140)