Quick Answer: What is the minimum hourly wage in Colombia?

CONCEPT COP$ VALUE USD$ VALUE (ER: 3500)
Monthly Minimum Wage (MMW) $908.526 $260
Transportation Aid / Connectivity Aid (TA) $106.454 $30
MMW + TA $1.014.980 $290
Daily Minimum Wage (8 hours) $30.284 $8.65

What is the average hourly wage in Colombia?

The average salary for jobs in Colombia is $ 28.791. 503 (COP) per year or an hourly rate of $ 13.842 (COP).

Does Colombia have a minimum wage?

The administration of Colombian President Ivan Duque issued Decree 1785 of December 29, 2020 establishing Colombia’s legal minimum wage for 2021 at $908,526 Colombian Pesos (COP) per month ($262.70 USD) as of January 1, 2021, 3.5% higher than in 2020.

What is the minimum wage in Colombia 2019?

The minimum wage will rise to 908,526 pesos – around US$260 – per month, up from 877,803 pesos in 2020, Duque said. Transport assistance accompanying the minimum wage will rise to 106,454 pesos per month in 2021, from 102,854 pesos this year.

What is the average hourly wage in Medellin Colombia?

The average salary for jobs in Medellin, Colombia is $ 28.718. 726 (COP) per year or an hourly rate of $ 13.807 (COP). The above data is a sample of data available in ERI’s Global Salary Calculator.

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What salary is considered rich in Colombia?

While the wealth of 71% of adults in Colombia is, on average, less than $10,000, just over 2% of adults have wealth of more than $100,000. Colombia’s richest have fortunes representing 4.6 times the state’s annual investment in education and equivalent to 22% of GDP according to Oxfam.

How much money do you need to live comfortably in Colombia?

Fortunately, Colombia offers retirees an affordable yet comfortable way of life. According to Numbeo, a website that collects pricing data from citizens, you’ll need to budget (excluding rent, but including food, utilities, transportation, and recreation) around $250 per month for living costs.

How much does rent cost in Colombia?

Summary of cost of living in Colombia

Food
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area COL$1,270,910
Utilities 1 month (heating, electricity, gas …) for 2 people in 85m2 flat COL$241,735
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area COL$1,432,310

How much a doctor makes in Colombia?

Salary rankings by profession

Job type Median salary (USD) Salary ranking compared to all cities
Finance Manager $23,017 224/265
Data Scientist $22,490 217/265
UX Designer $21,254 212/265
Physician $21,129 221/265

What is Colombia integral salary?

Integral Salary: When an employee earns a salary higher than 10 times the minimum monthly salary[3], he/she may agree with the employer to receive an integral salary, which may not be lower than 10 minimum monthly salaries plus a benefit factor amounting to no less than 30% of the employee’s salary (the minimum …

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What is the cost of living in Colombia?

Here is a sample budget for a couple:

Utility U.S. $
Rent (two-bedroom, two-bathroom) $325 – $1,300
Electricity (no heat, but air on the coast) $35 – $100
Water & sewer $15 – $30
Gas (cooking & heating water) $10 – $20

How much cash can I take to Colombia?

Currency Import regulations:

Local currency (Colombian Peso-COP) and foreign currencies: up to USD 10,000. – or equivalent. Amounts exceeding USD 10,000. – must be declared on arrival.

What is the average annual income in Colombia?

Considering the above factors, Colombia’s average annual salary is 56,300,000 COP or USD 14,425 (as per the exchange rates in August 2021). For an even broader perspective on average income, employers and expats could also look at the average salary range (maximum and minimum salary) in Colombia.