Key Facts: Bahamas vs Venezuela Wages
- Bahamas Minimum Wage
- B$6.50/hr ($6.50 USD)
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Bahamas Avg. Gross Monthly Salary
- B$3,500 /mo ($3,500 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Data Sources
- Government of The Bahamas / Ministry of Labour (2026-02-25), Venezuelan Ministry of Labour (MINPPTRASS) / Decreto 4.653/2022 / Cendas-FVM. Confirmed: legal salario mínimo has been UNCHANGED at VES 130 since March 2022 (over 4 years frozen amid hyperinflation). Effective real income for workers is dominated by the 'ingreso integral' (bono de guerra económica + CESTATICKET food bonus), increased to USD 240/month effective 1 May 2026. (2026-05-04)
Bahamas 
Venezuela
Updated 2026-05-04
The minimum wage in the Bahamas is roughly 349 times higher than in Venezuela in USD terms, reflecting the gap between a high-income and a upper-middle-income economy. Average gross salaries diverge further: $3,500/mo in the Bahamas versus $14/mo in Venezuela, a 255.5:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 9.2%.
The Bahamas' unemployment rate is 9.2% compared to Venezuela's 5.3%.
Detailed Comparison
| Metric | Bahamas | Venezuela |
|---|---|---|
| Minimum wage /hr | B$6.50 $6.50 | Bs.D0.68 $0.02 |
| Minimum wage /day | — | Bs.D5.42 $0.15 |
| Minimum wage /mo | B$1,126.67 $1,126.67 | Bs.D130 $3.56 |
| Minimum wage /yr | B$13,520 $13,520 | — |
| Avg. gross salary /mo | B$3,500 /mo $3,500 | Bs.D500 /mo $13.70 |
| Avg. net salary /mo | B$3,150 /mo $3,150 | N/A/mo |
| Median individual income /yr | B$24,000 /yr $24,000 | N/A/yr |
Percentage differences are based on USD equivalent values. Positive means Bahamas is higher.
Work Week
- Bahamas
-
40 hrs/wk standard
Max 40 hrs/wk
Overtime : 1.5x pay
Standard workweek is 40 hours (8 hours/day). Overtime is paid at 1.5x the regular rate for hours beyond 40 per week or 8 per day. Work on public holidays or rest days is paid at 2x the regular rate. Governed by the Employment Act, 2001.
- Venezuela
-
40 hrs/wk standard
Max 44 hrs/wk
Overtime : 1.5x pay
Organic Labour Law (LOTTT) of 2012 sets the standard workweek at 40 hours (8 hours/day, 5 days). Certain sectors may work up to 44 hours/week. Overtime is limited to 100 hours/year and paid at a premium of at least 50%. Night work (7pm–5am) carries a 30% premium. Workers are entitled to 2 years advance notice before termination — the LOTTT provides extremely strong job security provisions. Saturday is often worked in practice in commerce/industry.
• WAGE TRAJECTORY (USD/hr)
What This Means for Workers
A minimum wage worker moving from Venezuela to the Bahamas would see a 34790% increase in USD-equivalent hourly earnings.
See this comparison from Venezuela's perspective: Venezuela vs Bahamas
Compare Bahamas with...
Bahamas vs United States $ 7.25 /hr 
Bahamas vs China ¥ 25 /hr 
Bahamas vs Germany € 13.9 /hr 
Bahamas vs United Kingdom £ 12.71 /hr 
Bahamas vs India ₹ 4,576 /mo 
Bahamas vs Japan ¥ 1,121 /hr 
Bahamas vs France € 12.02 /hr 
Bahamas vs South Korea ₩ 10,320 /hr 
Bahamas vs Canada C$ 18.1 /hr 
Bahamas vs Australia A$ 24.95 /hr 
Bahamas vs Brazil R$ 7.37 /hr 
Bahamas vs Russia ₽ 156.31 /hr 
Bahamas vs Mexico MX$ 9,583.52 /mo 
Bahamas vs Indonesia Rp 33,058 /hr 
Bahamas vs Netherlands € 14.71 /hr 
Bahamas vs Saudi Arabia ﷼ 23.08 /hr 
Bahamas vs Turkey ₺ 164.94 /hr 
Bahamas vs Taiwan NT$ 190 /hr 
Bahamas vs Switzerland 
Bahamas vs Poland zł 31.4 /hr 
Bahamas vs Thailand ฿ 10,400 /mo 
Bahamas vs Sweden 
Bahamas vs Argentina ARS 1,762 /hr 
Bahamas vs Singapore Frequently Asked Questions
Is the minimum wage higher in Bahamas or Venezuela?
In the Bahamas, the minimum wage is B$6.50/hr ($6.50 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Bahamas has the higher rate by 34790% in USD terms. That nominal gap does not account for local prices; see the purchasing power comparison below for a cost-of-living-adjusted view. Workers in Venezuela may retain a larger share of their earnings if prices there are lower.
How much more does the average worker earn in Bahamas compared to Venezuela?
The average gross salary in the Bahamas is B$3,500/mo ($3,500 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in the Bahamas earn approximately 25450% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Bahamas and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in the Bahamas earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.
How do work hours compare between Bahamas and Venezuela?
Both Bahamas and Venezuela mandate a similar standard work week of 40 hours. When work hours are equal, the country with the higher minimum wage delivers proportionally higher weekly earnings. Standard work week rules set the baseline; actual hours worked often differ based on industry norms and individual employment contracts.