Iran Venezuela

Updated 2026-05-04

Iran

Minimum Wage

﷼692,731 /hr

$1.02 USD

Avg. Gross Salary

﷼400,000,000 /mo

Venezuela

Minimum Wage

Bs.D0.68 /hr

$0.02 USD

Avg. Gross Salary

Bs.D500 /mo

Min wage: +5368% Iran vs Venezuela Avg. salary: +4194% Iran vs Venezuela

The minimum wage in Iran is roughly 55 times higher than in Venezuela in USD terms, reflecting the gap between a lower-middle-income and a upper-middle-income economy. Average gross salaries diverge further: $588/mo in Iran versus $14/mo in Venezuela, a 42.9:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 8.3%.

Iran's unemployment rate is 8.3% compared to Venezuela's 5.3%.

Detailed Comparison

Detailed wage comparison between Iran and Venezuela
Metric	Iran	Venezuela	Diff
Minimum wage /hr	﷼692,731 $1.02	Bs.D0.68 $0.02	+5368.1%
Minimum wage /day	﷼5,541,850 $8.15	Bs.D5.42 $0.15	+5388.3%
Minimum wage /mo	﷼166,255,500 $244.49	Bs.D130 $3.56	+6764.6%
Minimum wage /yr	﷼1,995,066,000 $2,933.92	—	—
Avg. gross salary /mo	﷼400,000,000 /mo $588.24	Bs.D500 /mo $13.70	+4194.1%
Median individual income /yr	﷼1,440,000,000 /yr $2,117.65	N/A/yr	—

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

Work Week

Iran: 44 hrs/wk standard

Max 48 hrs/wk

Overtime : 1.4x pay

Article 51 of the Labour Law sets ordinary working hours at 44 hours per week (8 hours/day, 6 days, with 4 hours on the sixth day — or equivalent arrangements). Maximum including overtime is 48 hours/week. Overtime is compensated at 140% of the ordinary hourly rate. Friday is the official weekly rest day. Workers in hazardous conditions have reduced hours.
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)

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

Year	Iran (USD)	Venezuela (USD)
2020	$25/hr	$10959/hr
2021	$40/hr	$0.27/hr
2022	$84/hr	$3.56/hr
2023	$196/hr	$3.56/hr
2024	$265/hr	$3.56/hr
2025	$153/hr	$3.56/hr
2026	$244/hr	$3.56/hr

What This Means for Workers

A minimum wage worker moving from Venezuela to Iran would see a 5368% increase in USD-equivalent hourly earnings. Standard work weeks differ: Iran mandates 44 hours while Venezuela mandates 40 hours. A minimum wage worker's weekly earnings in Iran are $45 vs $1 in Venezuela.

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

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Frequently Asked Questions

Is the minimum wage higher in Iran or Venezuela?

In Iran, the minimum wage is ﷼692,731/hr ($1.02 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Iran has the higher rate by 5368% 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 Iran compared to Venezuela?

The average gross salary in Iran is ﷼400,000,000/mo ($588.24 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Iran earn approximately 4194% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Iran and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Iran earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.

How do work hours compare between Iran and Venezuela?

Iran has a longer standard work week at 44 hours, compared to 40 hours in Venezuela. Workers in Iran 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.