How many dollars a month is Venezuela’s minimum wage?

How much is the minimum wage in Venezuela in dollars?

According to the minimum salary established by law as of January 2021, workers in Chile enjoy a basic monthly wage of over 440 U.S. dollars (326,500 Chilean pesos).

Minimum monthly wage in selected Latin American countries in 2021 (in U.S. dollars)

Characteristic Monthly minimum wage in U.S. dollars*
Venezuela 1

How much is the monthly salary in Venezuela?

According to the OVF (Venezuelan Finance Observatory) in a recent survey of more than three hundred companies, the average salary for workers is $53. Among professionals and technicians, the average is around $100 and that of the management of a company averages $216.

How much is minimum wage monthly salary?

Using the federal minimum wage rate of $7.25 per hour, this amounts to total gross wages of $15,080 in one calendar year. Divide this by 12 to obtain monthly wages, since not all months have the same number of days. This calculation results in $1,256.67 in monthly gross wages.

How much money do you need to live in Venezuela?

Family of four estimated monthly costs are 1,901$ without rent. A single person estimated monthly costs are 513$ without rent. Cost of living in Venezuela is, on average, 36.31% lower than in United States. Rent in Venezuela is, on average, 76.78% lower than in United States.

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Is Venezuela a poor country?

Venezuela is the most poverty-stricken country in Latin America. The nation’s position in poverty has led to Venezuelan citizens requiring aid from the United States, more so than any nation in Latin America.

Why is Venezuela so poor?

Supporters of Chávez and Maduro have said that the problems result from an “economic war” on Venezuela and “falling oil prices, international sanctions, and the country’s business elite”, while critics of the government say the cause is “years of economic mismanagement, and corruption.” Most observes cite anti- …

Is Venezuela cheap or expensive?

Venezuela Is Unbelievably Cheap

Venezuela is a country where you can easily get by on just fifty bucks a week, with a budget of $100 a week, I lived like a king.

Which country pays highest salary?

Top 10 Countries with the Highest Salary for Workers

  1. Luxembourg. Luxembourg is a small country situated in western Europe.
  2. United States. The United States accounts for approximately 25% of the global GDP. …
  3. Switzerland. …
  4. Norway. …
  5. Netherlands. …
  6. Australia. …
  7. Denmark. …
  8. Canada. …

How much do I get paid yearly?

Multiply the number of hours you work per week by your hourly wage. Multiply that number by 52 (the number of weeks in a year). If you make $20 an hour and work 37.5 hours per week, your annual salary is $20 x 37.5 x 52, or $39,000.