Key Facts: Barbados vs Venezuela Wages
- Barbados Minimum Wage
- Bds$10.71/hr ($5.36 USD)
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Barbados Avg. Gross Monthly Salary
- Bds$3,900 /mo ($1,950 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Data Sources
- Ministry of Labour, Social Security and Third Sector — Barbados (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)
Barbados 
Venezuela
Updated 2026-05-04
The minimum wage in Barbados is roughly 287 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: $1,950/mo in Barbados versus $14/mo in Venezuela, a 142.3:1 ratio.
Barbados' unemployment rate is 6.5% compared to Venezuela's 5.3%.
Detailed Comparison
| Metric | Barbados | Venezuela |
|---|---|---|
| Minimum wage /hr | Bds$10.71 $5.36 | Bs.D0.68 $0.02 |
| Minimum wage /day | — | Bs.D5.42 $0.15 |
| Minimum wage /mo | Bds$1,855.07 $927.54 | Bs.D130 $3.56 |
| Minimum wage /yr | Bds$22,260.80 $11,130.40 | — |
| Avg. gross salary /mo | Bds$3,900 /mo $1,950 | Bs.D500 /mo $13.70 |
| Avg. net salary /mo | Bds$3,120 /mo $1,560 | N/A/mo |
| Median individual income /yr | Bds$28,000 /yr $14,000 | N/A/yr |
Percentage differences are based on USD equivalent values. Positive means Barbados is higher.
Work Week
- Barbados
-
40 hrs/wk standard
Max 48 hrs/wk
Overtime : 1.5x pay
Standard workweek is 40 hours (8 hours/day, 5 days/week). The Shops Act allows up to 48 hours in some retail sectors. Overtime is paid at 1.5x the regular rate. Work on Sundays and public holidays typically paid at 2x the regular rate.
- 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 Barbados would see a 28644% increase in USD-equivalent hourly earnings.
See this comparison from Venezuela's perspective: Venezuela vs Barbados
Compare Barbados with...
Barbados vs United States $ 7.25 /hr 
Barbados vs China ¥ 25 /hr 
Barbados vs Germany € 13.9 /hr 
Barbados vs United Kingdom £ 12.71 /hr 
Barbados vs India ₹ 4,576 /mo 
Barbados vs Japan ¥ 1,121 /hr 
Barbados vs France € 12.02 /hr 
Barbados vs South Korea ₩ 10,320 /hr 
Barbados vs Canada C$ 18.1 /hr 
Barbados vs Australia A$ 24.95 /hr 
Barbados vs Brazil R$ 7.37 /hr 
Barbados vs Russia ₽ 156.31 /hr 
Barbados vs Mexico MX$ 9,583.52 /mo 
Barbados vs Indonesia Rp 33,058 /hr 
Barbados vs Netherlands € 14.71 /hr 
Barbados vs Saudi Arabia ﷼ 23.08 /hr 
Barbados vs Turkey ₺ 164.94 /hr 
Barbados vs Taiwan NT$ 190 /hr 
Barbados vs Switzerland 
Barbados vs Poland zł 31.4 /hr 
Barbados vs Thailand ฿ 10,400 /mo 
Barbados vs Sweden 
Barbados vs Argentina ARS 1,762 /hr 
Barbados vs Singapore Frequently Asked Questions
Is the minimum wage higher in Barbados or Venezuela?
In Barbados, the minimum wage is Bds$10.71/hr ($5.36 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Barbados has the higher rate by 28644% 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 Barbados compared to Venezuela?
The average gross salary in Barbados is Bds$3,900/mo ($1,950 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Barbados earn approximately 14135% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Barbados and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Barbados earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.
How do work hours compare between Barbados and Venezuela?
Both Barbados 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.