Chile Venezuela

Updated 2026-05-27

Chile

Minimum Wage

CLP2,994 /hr

$3.26 USD

Avg. Gross Salary

CLP750,000 /mo

Venezuela

Minimum Wage

Bs.D0.68 /hr

$0.02 USD

Avg. Gross Salary

Bs.D500 /mo

Min wage: +17406% Chile vs Venezuela Avg. salary: +5864% Chile vs Venezuela

The minimum wage in Chile is roughly 175 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: $817/mo in Chile versus $14/mo in Venezuela, a 59.6:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 9.0%.

Chile's unemployment rate is 9.0% compared to Venezuela's 5.3%.

Detailed Comparison

Detailed wage comparison between Chile and Venezuela
Metric	Chile	Venezuela	Diff
Minimum wage /hr	CLP2,994 $3.26	Bs.D0.68 $0.02	+17406.2%
Minimum wage /day	—	Bs.D5.42 $0.15	—
Minimum wage /mo	CLP539,000 $587.15	Bs.D130 $3.56	+16385.3%
Minimum wage /yr	CLP7,007,000 $7,632.90	—	—
Avg. gross salary /mo	CLP750,000 /mo $816.99	Bs.D500 /mo $13.70	+5864.1%
Avg. net salary /mo	CLP622,500 /mo $678.10	N/A/mo	—
Median individual income /yr	CLP6,000,000 /yr $6,535.95	N/A/yr	—

Percentage differences are based on USD equivalent values. Positive means Chile is higher.

Work Week

Chile: 43 hrs/wk standard

Max 43 hrs/wk

Overtime : 1.5x pay

Ley de 40 horas (Ley 21.561) is reducing the workweek in steps: 45h → 44h (April 2024) → 43h (April 2026) → 40h (April 2028). As of April 26, 2026 the standard is 43h. Final reduction to 40h takes effect April 2028. Overtime paid at 50% premium, maximum 2 hours/day. Distributed across 5 or 6 working days.
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)

Chile Venezuela Source: wage.is · USD equivalent/hr

Year	Chile (USD)	Venezuela (USD)
2020	$356/hr	$10959/hr
2021	$367/hr	$0.27/hr
2022	$436/hr	$3.56/hr
2023	$479/hr	$3.56/hr
2024	$545/hr	$3.56/hr
2025	$576/hr	$3.56/hr
2026	$587/hr	$3.56/hr

What This Means for Workers

A minimum wage worker moving from Venezuela to Chile would see a 17406% increase in USD-equivalent hourly earnings. Standard work weeks differ: Chile mandates 43 hours while Venezuela mandates 40 hours. A minimum wage worker's weekly earnings in Chile are $140 vs $1 in Venezuela.

See this comparison from Venezuela's perspective: Venezuela vs Chile

Compare Chile with...

Chile vs United States $ 7.25 /hr

Chile vs China ¥ 25 /hr

Chile vs Germany € 13.9 /hr

Chile vs United Kingdom £ 12.71 /hr

Chile vs India ₹ 4,576 /mo

Chile vs Japan ¥ 1,121 /hr

Chile vs France € 12.02 /hr

Chile vs South Korea ₩ 10,320 /hr

Chile vs Canada C$ 18.1 /hr

Chile vs Australia A$ 24.95 /hr

Chile vs Brazil R$ 7.37 /hr

Chile vs Russia ₽ 156.31 /hr

Chile vs Mexico MX$ 9,583.52 /mo

Chile vs Indonesia Rp 33,058 /hr

Chile vs Netherlands € 14.71 /hr

Chile vs Saudi Arabia ﷼ 23.08 /hr

Chile vs Turkey ₺ 164.94 /hr

Chile vs Taiwan NT$ 190 /hr

Chile vs Switzerland

Chile vs Poland zł 31.4 /hr

Chile vs Thailand ฿ 10,400 /mo

Chile vs Sweden

Chile vs Argentina ARS 1,762 /hr

Chile vs Singapore

Frequently Asked Questions

Is the minimum wage higher in Chile or Venezuela?

In Chile, the minimum wage is CLP2,994/hr ($3.26 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Chile has the higher rate by 17406% 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 Chile compared to Venezuela?

The average gross salary in Chile is CLP750,000/mo ($816.99 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Chile earn approximately 5864% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Chile and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Chile earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.

How do work hours compare between Chile and Venezuela?

Chile has a longer standard work week at 43 hours, compared to 40 hours in Venezuela. Workers in Chile work 43 hours per week by law. Longer mandatory hours can offset a nominally higher wage; a worker in Venezuela working fewer hours may have comparable or better effective hourly earnings depending on the wage levels of each country. Total annual compensation depends on both the wage rate and the number of hours required.