Key Facts: Venezuela vs Chile Wages
- Venezuela Minimum Wage
- Bs.D0.68/hr ($0.02 USD)
- Chile Minimum Wage
- CLP2,994/hr ($3.26 USD)
- Venezuela Avg. Gross Monthly Salary
- Bs.D500 /mo ($13.70 USD)
- Chile Avg. Gross Monthly Salary
- CLP750,000 /mo ($816.99 USD)
- Data Sources
- 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), Dirección del Trabajo / Ministerio del Trabajo y Previsión Social; 2026 rate per Ley 21.751 (eff 2026-01-01) (2026-05-27)
Venezuela 
Chile
Updated 2026-05-27
The minimum wage in Venezuela is roughly 175 times lower than in Chile in USD terms, reflecting the gap between a upper-middle-income and a high-income economy. Average gross salaries diverge further: $14/mo in Venezuela versus $817/mo in Chile, a 59.6:1 ratio. Venezuela has the tighter labor market, with unemployment at 5.3% compared to 9.0%.
Venezuela's unemployment rate is 5.3% compared to Chile's 9.0%.
Detailed Comparison
| Metric | Venezuela | Chile |
|---|---|---|
| Minimum wage /hr | Bs.D0.68 $0.02 | CLP2,994 $3.26 |
| Minimum wage /day | Bs.D5.42 $0.15 | — |
| Minimum wage /mo | Bs.D130 $3.56 | CLP539,000 $587.15 |
| Minimum wage /yr | — | CLP7,007,000 $7,632.90 |
| Avg. gross salary /mo | Bs.D500 /mo $13.70 | CLP750,000 /mo $816.99 |
| Avg. net salary /mo | N/A/mo | CLP622,500 /mo $678.10 |
| Median individual income /yr | N/A/yr | CLP6,000,000 /yr $6,535.95 |
Percentage differences are based on USD equivalent values. Positive means Venezuela is higher.
Work Week
- 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.
- 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.
• WAGE TRAJECTORY (USD/hr)
What This Means for Workers
A minimum wage worker in Venezuela earns 17406% less per hour in USD terms than one in Chile. Standard work weeks differ: Venezuela mandates 40 hours while Chile mandates 43 hours. A minimum wage worker's weekly earnings in Venezuela are $1 vs $140 in Chile.
See this comparison from Chile's perspective: Chile vs Venezuela
Compare Venezuela with...
Venezuela vs United States $ 7.25 /hr 
Venezuela vs China ¥ 25 /hr 
Venezuela vs Germany € 13.9 /hr 
Venezuela vs United Kingdom £ 12.71 /hr 
Venezuela vs India ₹ 4,576 /mo 
Venezuela vs Japan ¥ 1,121 /hr 
Venezuela vs France € 12.02 /hr 
Venezuela vs South Korea ₩ 10,320 /hr 
Venezuela vs Canada C$ 18.1 /hr 
Venezuela vs Australia A$ 24.95 /hr 
Venezuela vs Brazil R$ 7.37 /hr 
Venezuela vs Russia ₽ 156.31 /hr 
Venezuela vs Mexico MX$ 9,583.52 /mo 
Venezuela vs Indonesia Rp 33,058 /hr 
Venezuela vs Netherlands € 14.71 /hr 
Venezuela vs Saudi Arabia ﷼ 23.08 /hr 
Venezuela vs Turkey ₺ 164.94 /hr 
Venezuela vs Taiwan NT$ 190 /hr 
Venezuela vs Switzerland 
Venezuela vs Poland zł 31.4 /hr 
Venezuela vs Thailand ฿ 10,400 /mo 
Venezuela vs Sweden 
Venezuela vs Argentina ARS 1,762 /hr 
Venezuela vs Singapore Frequently Asked Questions
Is the minimum wage higher in Venezuela or Chile?
In Venezuela, the minimum wage is Bs.D0.68/hr ($0.02 USD). In Chile, it is CLP2,994/hr ($3.26 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 less does the average worker earn in Venezuela compared to Chile?
The average gross salary in Venezuela is Bs.D500/mo ($13.70 USD), compared to CLP750,000/mo ($816.99 USD) in Chile. In USD terms, workers in Venezuela earn approximately 5864% less. Average salaries reflect the full labor market, not just the minimum wage floor. The gap between Venezuela and Chile 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 Venezuela and Chile?
Chile has a longer standard work week at 43 hours, compared to 40 hours in Venezuela. Workers in Venezuela work 40 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.