Key Facts: Colombia vs Venezuela Wages
- Colombia Minimum Wage
- COP7,295.44/hr ($1.77 USD)
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Colombia Avg. Gross Monthly Salary
- COP2,200,000 /mo ($532.69 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Data Sources
- Ministerio del Trabajo y Seguridad Social; 2026 SMLMV per Decretos 1469 y 1470 de 2025 + Decreto 0159 de 2026 (auxilio de transporte) (2026-05-27), 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)
Colombia 
Venezuela
Updated 2026-05-27
The minimum wage in Colombia is roughly 95 times higher than in Venezuela in USD terms, reflecting the gap between a upper-middle-income and a upper-middle-income economy. Average gross salaries diverge further: $533/mo in Colombia versus $14/mo in Venezuela, a 38.9:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 8.3%.
Colombia's unemployment rate is 8.3% compared to Venezuela's 5.3%.
Detailed Comparison
| Metric | Colombia | Venezuela |
|---|---|---|
| Minimum wage /hr | COP7,295.44 $1.77 | Bs.D0.68 $0.02 |
| Minimum wage /day | — | Bs.D5.42 $0.15 |
| Minimum wage /mo | COP1,750,905 $423.95 | Bs.D130 $3.56 |
| Minimum wage /yr | COP22,761,765 $5,511.32 | — |
| Avg. gross salary /mo | COP2,200,000 /mo $532.69 | Bs.D500 /mo $13.70 |
| Avg. net salary /mo | COP1,936,000 /mo $468.77 | N/A/mo |
| Median individual income /yr | COP16,800,000 /yr $4,067.80 | N/A/yr |
Percentage differences are based on USD equivalent values. Positive means Colombia is higher.
Work Week
- Colombia
-
44 hrs/wk standard
Max 44 hrs/wk
Overtime : 1.25x pay
Colombia is reducing the workweek from 48 to 42 hours under Ley 2101 de 2021 in annual steps. As of 2026-01-01, the maximum is 44 hours/week. The final step (44h → 42h) takes effect July 2026. Daytime overtime: 25% premium. Night overtime: 75% premium. Sunday/holiday work: 75% premium (175% if also overtime).
- 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 Colombia would see a 9382% increase in USD-equivalent hourly earnings. Standard work weeks differ: Colombia mandates 44 hours while Venezuela mandates 40 hours. A minimum wage worker's weekly earnings in Colombia are $78 vs $1 in Venezuela.
See this comparison from Venezuela's perspective: Venezuela vs Colombia
Compare Colombia with...
Colombia vs United States $ 7.25 /hr 
Colombia vs China ¥ 25 /hr 
Colombia vs Germany € 13.9 /hr 
Colombia vs United Kingdom £ 12.71 /hr 
Colombia vs India ₹ 4,628 /mo 
Colombia vs France € 12.02 /hr 
Colombia vs South Korea ₩ 10,320 /hr 
Colombia vs Canada C$ 18.1 /hr 
Colombia vs Australia A$ 26.44 /hr 
Colombia vs Brazil R$ 7.37 /hr 
Colombia vs Russia ₽ 156.31 /hr 
Colombia vs Mexico MX$ 9,583.52 /mo 
Colombia vs Turkey ₺ 164.94 /hr 
Colombia vs Poland zł 31.4 /hr 
Colombia vs Thailand ฿ 10,400 /mo 
Colombia vs Argentina ARS 1,762 /hr 
Colombia vs Singapore 
Colombia vs Austria 
Colombia vs Denmark 
Colombia vs New Zealand NZ$ 23.95 /hr 
Colombia vs Philippines ₱ 18,070 /mo 
Colombia vs Vietnam ₫ 25,500 /hr 
Colombia vs Chile CLP 2,994 /hr 
Colombia vs Finland Frequently Asked Questions
Is the minimum wage higher in Colombia or Venezuela?
In Colombia, the minimum wage is COP7,295.44/hr ($1.77 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Colombia has the higher rate by 9382% 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 Colombia compared to Venezuela?
The average gross salary in Colombia is COP2,200,000/mo ($532.69 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Colombia earn approximately 3789% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Colombia and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Colombia earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.
How do work hours compare between Colombia and Venezuela?
Colombia has a longer standard work week at 44 hours, compared to 40 hours in Venezuela. Workers in Colombia work 44 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.