Key Facts: Mongolia vs Venezuela Wages
- Mongolia Minimum Wage
- ₮4,714/hr ($1.31 USD)
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Mongolia Avg. Gross Monthly Salary
- ₮2,000,000 /mo ($555.71 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Data Sources
- Ministry of Labour and Social Protection — Mongolia (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)
Mongolia 
Venezuela
Updated 2026-05-04
The minimum wage in Mongolia is roughly 70 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: $556/mo in Mongolia versus $14/mo in Venezuela, a 40.6:1 ratio.
Mongolia's unemployment rate is 5.2% compared to Venezuela's 5.3%.
Detailed Comparison
| Metric | Mongolia | Venezuela |
|---|---|---|
| Minimum wage /hr | ₮4,714 $1.31 | Bs.D0.68 $0.02 |
| Minimum wage /day | — | Bs.D5.42 $0.15 |
| Minimum wage /mo | ₮792,000 $220.06 | Bs.D130 $3.56 |
| Minimum wage /yr | ₮9,504,000 $2,640.73 | — |
| Avg. gross salary /mo | ₮2,000,000 /mo $555.71 | Bs.D500 /mo $13.70 |
| Avg. net salary /mo | ₮1,700,000 /mo $472.35 | N/A/mo |
| Median individual income /yr | ₮12,000,000 /yr $3,334.26 | N/A/yr |
Percentage differences are based on USD equivalent values. Positive means Mongolia is higher.
Work Week
- Mongolia
-
40 hrs/wk standard
Max 56 hrs/wk
Overtime : 1.5x pay
Standard workweek is 40 hours (8 hours/day). The Labour Law sets a maximum of 56 hours/week including overtime. Maximum daily overtime is 4 hours. Overtime is paid at 1.5x the regular rate. Work on public holidays is compensated at 2x the regular rate. The government sector typically works 40 hours/week (Monday-Friday).
- 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 Mongolia would see a 6931% increase in USD-equivalent hourly earnings.
See this comparison from Venezuela's perspective: Venezuela vs Mongolia
Compare Mongolia with...
Mongolia vs United States $ 7.25 /hr 
Mongolia vs China ¥ 25 /hr 
Mongolia vs Germany € 13.9 /hr 
Mongolia vs United Kingdom £ 12.71 /hr 
Mongolia vs India ₹ 4,576 /mo 
Mongolia vs Japan ¥ 1,121 /hr 
Mongolia vs France € 12.02 /hr 
Mongolia vs South Korea ₩ 10,320 /hr 
Mongolia vs Canada C$ 18.1 /hr 
Mongolia vs Australia A$ 24.95 /hr 
Mongolia vs Brazil R$ 7.37 /hr 
Mongolia vs Russia ₽ 156.31 /hr 
Mongolia vs Mexico MX$ 9,583.52 /mo 
Mongolia vs Indonesia Rp 33,058 /hr 
Mongolia vs Netherlands € 14.71 /hr 
Mongolia vs Saudi Arabia ﷼ 23.08 /hr 
Mongolia vs Turkey ₺ 164.94 /hr 
Mongolia vs Taiwan NT$ 190 /hr 
Mongolia vs Switzerland 
Mongolia vs Poland zł 31.4 /hr 
Mongolia vs Thailand ฿ 10,400 /mo 
Mongolia vs Sweden 
Mongolia vs Argentina ARS 1,762 /hr 
Mongolia vs Singapore Frequently Asked Questions
Is the minimum wage higher in Mongolia or Venezuela?
In Mongolia, the minimum wage is ₮4,714/hr ($1.31 USD). In Venezuela, it is Bs.D0.68/hr ($0.02 USD). Mongolia has the higher rate by 6931% 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 Mongolia compared to Venezuela?
The average gross salary in Mongolia is ₮2,000,000/mo ($555.71 USD), compared to Bs.D500/mo ($13.70 USD) in Venezuela. In USD terms, workers in Mongolia earn approximately 3957% more. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Mongolia and Venezuela is shaped by differences in industry composition, labor productivity, and the overall cost of living in each country. Workers in Mongolia earn more in nominal terms, though how far that income stretches depends on local prices in Venezuela.
How do work hours compare between Mongolia and Venezuela?
Both Mongolia 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.