Colombia minimum wage per hour. Dec 24, 2024 · The minimum wage in 2025 will rise to 1.
- Colombia minimum wage per hour. If we look at the minimum salary in Colombian pesos, which is the official currency in Colombia, we can see that, this year, it was 1,300,000 Colombian pesos and accordingly, the national minimum wage has been raised 140,000 Colombian While the minimum wage in Colombia is $1M COP (around USD $230-$250), those places might have the average of USD $50 or even less –at least if we count the people who participates in the legal economc field–. This change raises the monthly minimum wage from $1,300,000 to $1,423,500. [Colombia, Ministry of Labor, 12/16/22] 2022. Nov 13, 2024 · In 2022, the minimum wage in the country rose by 10. The wage hike affects the monthly income of some 2. P. Ordinary Current Monthly Minimum Wage COP 1. 22%. 00 per hour. Get insights today! May 28, 2025 · The minimum wage has been revised in Colombia with effect from 01 January 2025. As of July 25, 2025, Shanghai has the highest monthly minimum wage among 31 provinces (RMB 2,740/US$378 per month), and Beijing has the highest hourly minimum wage (RMB 27. Explore the latest 2024 salary trends in Colombia with our detailed guide. Contact WageIndicator for more information on the database. 50 per hour. 40 per hour. Aug 8, 2025 · The minimum wages in China continue to rise. The adjustment marks a smaller Dec 18, 2024 · Discover the average salary in Colombia and explore the key factors affecting earnings, including industries, experience, and location. The government also announced subsidies for fertilizer and other agricultural supplies, and work to lower energy costs and consumer interest rates. Minimum wage, from COP 908,526. 76). Discover their impact on salaries, social security, and tax compliance. ’s minimum wage increased to $17. The national minimum wae has increased from COP1,160,000. 5 million workers and is more than three percentage points higher than last year’s estimated inflation rate. 4 USD per hour on the current exchange rate. Second, while some countries define a monthly minimum wage, others define minimum wages per hour. Here’s what businesses need to know to stay compliant and ahead. The increase is smaller than the hike announced for this year. Oct 22, 2024 · Minimum Working Conditions Employees in Colombia enjoy the rights established by the Political Constitution, the International Labour Organization (ILO) conventions ratified by Colombia, the Labour Code, and any other regulation that develop labour rules. Dec 30, 2023 · Colombia's minimum wage will increase by 12% in 2024, Labor Minister Gloria Ines Ramirez said on Friday, taking the figure to 1. Colombia’s Minimum Wage As of 2024, Colombia’s minimum monthly wage is $1,300,000 COP (approximately $330 USD). 54 % ($ 123,500. Jun 4, 2025 · If you’re hiring in Colombia, it’s important to adhere to the latest laws surrounding minimum wage to remain compliant as an employer. Jul 1, 2025 · District of Columbia minimum wage rate is $17. currency yields only about $189. 54% minimum wage increase for 2025 after unions and employers failed to reach an agreement. 30, compared to the national average of $1,333. Find out more here! Jan 2, 2025 · For example, in the US, the federally mandated minimum wage stands at 7. Discover the average salary in Colombia, wage comparisons by profession, minimum wage insights, and how Colombia's salaries stack up globally. Dec 26, 2024 · Colombia’s government decreed a 9. ) and other independent countries. The minimum wage will rise to 1. 00 COP) Monthly minimum wage + monthly transport subsidy: $ 1,623,500. Compare wages by profession, learn about minimum pay rates, compliance laws, and why Colombia is a top outsourcing destination. 00 to COP 1,000,000. 4 million pesos (US$323. One of the key factors that influence the country's economic landscape is the minimum wage. 423. 4 million pesos monthly and impacting key sectors like agriculture and manufacturing. 6% increase aimed at helping the province’s lowest-paid Dec 25, 2024 · The minimum wage in 2025 will rise to 1. 00 per hour (up from $10. 48% for The National Minimum Wage (NMW) of a country is the minimum amount (lowest salary) per hour, per day, or per month that employers may legally pay to workers. Productive WageIndicator offers Living Wages / Income for more than 175 countries. 3 million ($297) to 1. 00 per month For more information on changes Mar 10, 2025 · Effective July 1, 2025, the District of Columbia’s minimum wage will increase to $17. 25 USD per hour). It will improve the well-being of everyone and reduce unemployment and also the so-called extreme poverty, which has plagued the nation for a long time. 51 COP three thousand, six hundred and fifty-seven point five one two five Jan 3, 2023 · This is to inform you about the new minimum wage and transportation subsidy announced by the Government of Colombia for the year 2023. Credit: A. 00 to COP1,623,500. 7% of the employed personnel in Colombia earn a salary equivalent to the minimum wage. 43 million ($326) next year. When combined with the updated transportation subsidy, workers earning the minimum wage will now receive a total of $1,623,500. Stay compliant with payroll and minimum wage in Colombia! Explore our guide to salary regulations, benefits, and employer responsibilities. As of June 1, 2024, B. One day before the end of the legal period to set the minimum wage, there was no agreement between workers and employers, so the wage was Jan 16, 2025 · Understand Colombia 2025 minimum wage increase and UVT updates. Where only weekly or monthly wages have been provided, the amounts have been recalculated to hourly wages. 50 per hour for all workers, regardless of size of employer. Dec 25, 2024 · Colombia announces a 9. The national minimum wage has increased from COP1,462,000. / Colombia One The Colombian justice system mandates that the minimum wage for 2024 must increase above inflation. These figures are standardized nationally, with no regional variations across Colombia. Jul 1, 2025 · The WageIndicator team updates the Database on monthly basis. 54% announced by President Gustavo Petro. Minimum Wage Beginning July 1, 2025, the minimum wage in the District of Columbia will increase from $17. The increase is smaller than the hike announced for this Dec 29, 2023 · BOGOTA(Reuters) – Colombia’s minimum wage will increase by 12% in 2024, Labor Minister Gloria Ines Ramirez said on Friday, taking the figure to 1. 54% in 2025, Colombia's President Gustavo Petro said on Tuesday, announcing the hike by decree after a deal was not reached between the government, business associations and workers unions. Find insights on the highest and lowest wages, along with essential regulations. Third, in countries like the United Kingdom, Ireland or the Netherlands, minimum wage rates depend on the employee’s age. The national minimum wage has been increased as follows: 1. Jan 23, 2024 · According to Decree 2292 of 2023, the legal minimum wage for the year 2024 will be equivalent to 1,300,000 Colombian pesos per month, reflecting a 12% increase compared to the minimum wage established in 2023. Hourly Minimum Wage Colombia 2020 $ 3,657. 61% year-over-year) similar to the increase for 2024, rounded to the nearest $0. If an employee's wage is below minimum wage for the hours they worked, the employer must top up their payment so that it's equal to minimum wage. Mayor Muriel Bowser signed the “Fair Shot Minimum Wage Amendment Act of 2016 into law on June 27, 2016, after unanimous passage by the D. 45, from $17. 50 per hour to $17. 05. 3 years. Dec 18, 2024 · Discover the average salary in Colombia and explore the key factors affecting earnings, including industries, experience, and location. The sixth most populated country is home to the fifth largest labor force in the world, and the minimum wage is about $1. 5% minimum wage hike after employers and labor unions failed to reach agreement. Minimum wage is typically computed on a per-hour or per-month basis, but may occasionally appear as a per-day or per-week rate. Workers receive a higher minimum wage in District of Columbia that exceeds the Federal Minimum Wage of $7. Jun 1, 2019 · June 1, 2020 – $14. 3 million pesos this year. Facts and statistics about Colombia Colombia is a country located in the South America region with a population of 42,321,000 and an average life span of 70. 33 COP four thousand, eight hundred and thirty-three point three three three three three three three three three three May 27, 2025 · Explore the average salary in Colombia in 2025. Monthly minimum wages will go up from COP1. This page provides values for Minimum Wages reported in several countries. It may be relatively low compared to some other parts of the country, but USD$10. 67 COP five thousand, four hundred and sixteen point six six six six six six six six six seven Jan 13, 2025 · These figures gain particular significance when compared to the minimum wage increase established by the Government through Decree 1572 of 2024. 7% annual inflation adjustment based on the Consumer Price Index for All Urban Consumers (CPI-U) in the Washington Metropolitan Statistical Area. In comparison, the federally mandated minimum wage in the United States is 7. 00 to COP1,300,000. 66. 7/US$3. 54% by decree after labor unions and the employers’ association failed to reach an agreement. In this blog post we will talk about the history and everything you need to know about the minimum wage in Colombia, including what changes have been made over the years. 5 percent. Familiarize yourself with the minimum wage by country to guarantee that your employees obtain a just salary that matches the prevailing cost of living. In this article, we will explore the average salary in Colombia, minimum wage, median salary, maximum wages, factors influencing average salary in Dec 30, 2023 · Colombia's minimum wage will increase by 12% in 2024, Labor Minister Gloria Ines Ramirez said on Friday, taking the figure to 1. Jun 28, 2023 · Amount of people earning the minimum wage in Colombia According to labor market figures presented by the National Government, 15. Jan 21, 2025 · In a significant move aimed at improving workers’ quality of life, President Gustavo Petro officially decreed a 9. 5% percent increase from the 2024 minimum wage. Nov 1, 2024 · Discover the Minimum Wage in Colombia for 2024, its impact, and how it's determined. Transport allowance, from COP 106,454. In households with two working adults, all Minimum Wage The current minimum monthly wage in Ecuador is set at 450 USD, a 5. 95 per hour in 2025. Apr 11, 2023 · Obtain a comprehensive summary of the minimum wage rates worldwide for the year 2024. Minimum Wage: Mexico's minimum wage is set nationally and varies slightly by region. 3 million). Learn what the updated minimum wage is, how it applies to different workers, and factors influencing minimum wage in Colombia. 25 per hour and the District Of Columbia minimum wage is $17. Minimum wages have been revised in Colombia, with effect from 01 January 2022. 85 (an increase of $0. 25 COP five thousand, nine hundred and thirty-one point two five In 2024, the national minimum wage in Colombia remained fixed at €307. 58 per hour, making it a little lower than Colombia. 95 per hour for all workers, regardless of the size of the employer. That comes out to around 2. Apr 22, 2025 · Costa Rica is the country with the highest minimum monthly wage in Latin America. The minimum wage in Colombia is the lowest amount of money that an employer can legally pay an employee per hour or month. Dec 15, 2022 · Colombia's minimum wage will increase by 16% in 2023, President Gustavo Petro said on Thursday, higher than the previous wage hike. 67 COP four thousand, one hundred and sixty-six point six six six six six six six six six seven Jan 28, 2025 · Increase in Minimum Wage On 1 January 2025, a new monthly minimum wage level of 1,423,500 Colombian pesos (COP) was announced, which equates to approximately US$323. District of Columbia Minimum Wage Increase Beginning July 1, 2024, the minimum wage in the District of Columbia will increase from $17. Jan 9, 2025 · As of January 1, 2025, the Colombian Ministry of Labor increased monthly minimum salary and legal transportation aid for jobs in the private sector. This adjustment, confirmed through a government decree, reflects the ongoing negotiations between the government, business representatives, and workers' unions. Dec 18, 2024 · The average salary in Colombia is around 4,710,000 COP, which is roughly 1074. 50), reflecting a 2. Jul 31, 2025 · Effective January 1, 2025, the minimum wage in Colombia increased to COP 1,423,500 per month (approximately USD 326), a 9. Official salary and general information about Colombia. The increase Jun 1, 2025 · The WageIndicator team updates the Database on monthly basis. 16 million Colombian pesos (US$242. 40 to $17. Find out more here! BOGOTA, Colombia: President Gustavo Petro announced a 9. 85 per hour. 07% and the Legal Transportation Aid with an increase of 15. As of december 28, 2024, our prediction for the hourly wage on June 1, 2025 is $17. 00 per month 3. Jun 24, 2025 · Colombia’s 2025 labor reform is set to reshape hiring, contracts, and costs. In any region in the world. This marks an increase of over 9% from the previous minimum wage of COP 1,300,000 in 2024 equating to approximately US$295. 60 per hour June 1, 2019 – $13. For a full time worker, that’s Jan 14, 2025 · The Colombian government announced an increase in the minimum wage for 2025. This decision, unveiled by the Ministry of Labour, will raise the general minimum wage by $0. ” Previously, on Monday, negotiations between employers and labor unions failed to reach an agreement on the minimum wage Hourly Minimum Wage Colombia 2021 $ 3,785. Jan 17, 2024 · By means of Decrees nos. Jan 4, 2024 · Colombia’s Labor Ministry raised the country’s minimum wage by 12% to $335 (COP1. Jan 8, 2025 · Learn about minimum wage rates in Latin America for 2025. 90) per month, Petro said, up from 1. Dec 24, 2024 · Colombia's minimum wage will increase by 9. In the table that follows we show you the progression of the National Minimum Wage Colombia. 25 COP five thousand, nine hundred and thirty-one point two five Colombia enforces a national minimum wage law which is set at COP $1,300,000 per month as of 2024. 54% in the minimum wage. Current Integral Monthly Minimum Wage COP 18. The top 5 minimum wage states in So, what is the average salary in Colombia? A person working in Colombia will earn an average salary of around $326 per month. 00 per week, or $35,360. 45) which corresponds to the inflation rate from 2023 to 2024 (2. For tipped employees, the minimum direct cash wage will rise to $12. Dec 25, 2024 · MACROECONOMICS - BOGOTA. Jan 30, 2024 · Minimum salary in Latin America is connected to the cost of living Which country in Latin America has the highest minimum wage? As part of the United States of America, although unincorporated, Puerto Rico benefits from a high minimum wage. 16 announced that the 2023 monthly minimum wage will increase to 1. Its value is established by law in each country and is updated periodically. 7 per hour). For statistical analysis, the Minimum Wage Database is available on a monthly frequency. No worker in Colombia can be paid less then this mandatory minimum rate of pay. There are five states that do not. 00), reducing the maximum tip Mar 12, 2004 · This paper exploits the long history of the minimum wage in a relatively stable developing economy like Colombia in order to see whether it may alleviate the living conditions of low income families and reduce income inequality. 500), reflecting a 9. Living Wages are delivered in context wth Minimum Wages, Labour Law and Adequate Wages. Colombia set the 2025 minimum wage increase at 9. 90) per month, up from 1. 4 million pesos ($323. 54 USD. 25. 60. This page provides - Colombia Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news. As of July 1, 2025, the base minimum wage for tipped employees will remain at $10. 505. The amount has remained at $7. Jan 20, 2023 · Colombia has a wage floor of 1,160,000 Colombian pesos, equivalent to about $242, while in Argentina, converting the minimum wage of 65,427 Argentinian pesos into U. 84 USD. Hourly Minimum Wage Colombia 2024 $ 5,416. 50 per hour is regionally very strong. While this adjustment may seem modest at first glance, it represents a 2. 9% hike from the rate of 425 USD in 2022. 1. Hourly Minimum Wage Colombia 2025 $ 5,931. 5% increase in Colombia’s minimum wage for 2025. First, minimum wages are typically stated in local currency. Jan 26, 2025 · The minimum wage refers to the minimum amount of money that an employer must pay to a worker for a certain period of time. Dec 30, 2023 · Colombia to increase minimum wage by 12% in 2024- Credit: caruizp / CC BY 2. 0 Colombia will increase the minimum wage by 12% in 2024, as reported today by President Gustavo Petro in a joint press conference with the Minister of Labor, Gloria Ines Ramirez. Yearly increase: 9. 8 USD per hour. Through Decrees 2292 and 2293 of December 29, 2023, the Ministry of Labor set the value of the Minimum Legal Monthly Wage in Force (SMLMV) with an increase of 12. This decree set the minimum wage for 2025 at ONE MILLION FOUR HUNDRED AND TWENTY-THREE THOUSAND FIVE HUNDRED COLOMBIAN PESOS (COP 1. As of January 2023, Colombia’s legal monthly minimum wage is 1,300,606 COP. Jan 2, 2024 · According to Labor Minister Gloria Ines Ramirez, Colombia is set to witness a 12% increase in its minimum wage for 2024. With these notes in mind, considering that the latest known inflation rate was 10. Dec 16, 2022 · In Colombia, it is customary for many businesses to raise their prices in the new year by an amount reflecting the increase in the official minimum wage. 42 million Colombian pesos. As such, the following minimum wages will be applicable, effective January 1, 2025. 54% in 2025, Colombia's President Gustavo Petro said on Tuesday, announcing the hike by decree after a deal was not reached between the government Oct 10, 2024 · Formal negotiations will soon begin in Colombia to set the minimum wage for 2025, which has increased by 28 percent over the past two years. Dec 24, 2024 · Colombia's Minimum Wage Adjustments for 2025 Colombia is set to implement a significant change to its minimum wage, with an increase of 9. Learn more: EVERYPLACE Property Management Minimum Wage & Median Income Understanding the minimum and median wages in Medellin helps put salaries into perspective, especially when comparing them to the cost of living. 500 iv. These salaries are inclusive of transport, housing, and other benefits. Total minimum wage per month, from COP 1,014,980. The wage hike that will take force in January is significantly higher than the estimated inflation rate for 2024. The Colombian government regulates these rates and protects an hourly wage worker with a minimum guaranteed income for each hour of work. District Of Columbia is one of the regions that has a minimum wage rule and ensures that their employers pay it. District of Columbia's minimum wage rate as of f, 2025 is $17. This is a measure that significantly impacts the country’s salaried workforce, as many workers base their income on the monthly minimum wage, which is established annually through negotiations between social partners and Dec 30, 2023 · Colombia's minimum wage will increase by 12% in 2024, Labor Minister Gloria Ines Ramirez said on Friday, taking the figure to 1. 85 per hour This hourly minimum wage applies to most employees regardless of how they're paid – hourly, salary, commission or on an incentive basis. Monthly Legal Transportation Assistance COP 200. Get Colombia's minimum wage since year 1984. Annual salary calculator for the minimum wage in British Columbia, BC for 2025 This calculator provides an overview of the annual minimum wage . Minimum wages were first utilized to address the exploitation of workers in sweatshops and then came to be seen What is the average salary in Colombia? Check out the official data about average salary, minimum wages, gender pay gap, and more. 95 per hour (up from $17. Average Salary in Bogota, Colombia The average salary in Bogota, Colombia as of 2020 is COP 1300000, which is approximately USD 340. On the other hand, there is NO way that the average income of a person in Bogotá is USD $1200. 54% increase in minimum wage for 2025, raising it to 1. 2292 and 2293 of 2023, the government set, respectively, the amount of the monthly statutory minimum salary (MSMS) and the statutory transportation allowance for 2024: General minimum wage by territory, as of February 2023 This is a list of the official minimum wage rates of the 193 United Nations member states and former members of the United Nations, also including the following territories and states with limited recognition (Northern Cyprus, Kosovo, etc. The following is a comparison of the average salary in Colombia to other outsourcing countries and their markets. Dec 29, 2023 · BOGOTA (Reuters) – Colombia’s minimum wage will increase by 12% in 2024, Labor Minister Gloria Ines Ramirez said on Friday, taking the figure to 1. 00 per hour to $17. In 2022, British Columbians working full-time earned an average weekly wage of $1,371. Minimum Wages in Colombia increased to 1423500 COP/Month in 2025 from 1300000 COP/Month in 2024. / ColombiaOne. Jan 19, 2024 · Comparing minimum wages by country can be difficult. 3 million pesos per month this year. The District of Columbia minimum wage applies to most employees, with limited exceptions, including certain tipped employees, students or part-time workers, and other exempt occupations. Sep 29, 2023 · The minimum wage in Colombia will increase by more than 10% in 2024, according to sources from the Colombian government. 53 COP three thousand, seven hundred and eighty-five point five two five Dec 25, 2024 · Colombia’s President Gustavo Petro announced that the country’s minimum wage will increase by 9. Colombia's minimum wage was last changed in 1-Jan-2016. Jan 1, 2025 · As per Article 147 of Labour Code, workers who work for less than normal working hrs, minimum wage will apply in proportion to number of hrs actually worked. 54 percent increase in the country's minimum wage for 2025, setting it at 1. THE OFFICIAL SALARY IN COLOMBIA IN 2025: Average salary – 1,600,000 Colombian pesos per month ($380) Minimum wage – 1,423,500 Colombian pesos per month ($340) Source: Government of Colombia and international recruitment agencies Apr 25, 2025 · Learn about the key regulations governing employee pay in Colombia, including minimum wage, overtime, and other compensation rules Dec 29, 2024 · BOGOTA, Colombia: President Gustavo Petro announced a 9. 17), from 1 million pesos (US$208. Minimum wages A minimum wage is the lowest remuneration (based on a fixed hourly rate) that an employer must pay its workers. Dec 24, 2024 · The minimum wage in 2025 will rise to 1. was $99,610. The federal minimum wage is $7. Dec 31, 2024 · The minimum wage in the United States – for its part – will increase in 21 states as of January 1, 2025. As of [current year], the minimum wage is approximately $200 to $300 USD per month. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Minimum Wages. 9 per month, that is 3,695 euros per year, taking into account 12 payments per year. Hourly Minimum Wage Colombia 2022 $ 4,166. Feb 16, 2025 · British Columbia’s provincial government has announced a significant minimum wage increase slated to take effect on June 1, 2025. This rate is not subject to local variances and applies uniformly across all sectors. The table has current values for Minimum Wages, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data charts. The increase in the minimum wage Dec 11, 2023 · At this time, talks on the minimum wage increase for the year 2024 have already begun and this decision affects formal workers directly and indirectly all workers, as the minimum wage is fundamental to the country's economy Dec 24, 2024 · BOGOTA (Reuters) - Colombia's minimum wage will increase by 9. Dec 20, 2022 · The Colombian President Dec. The law states that whichever is the higher applies to employers in that state. 3 million pesos in 2024. 90) per month in 2025, up from 1. The average salary in Colombia Colombia's average salary is shaped by industries such as oil and gas, mining, agriculture, and services. May 25, 2023 · G. The tables below provide living wage estimates for individuals and households with one or two working adults and zero to three children. 000 iii. The law also includes Sep 8, 2021 · In Colombia, labor laws dictate a 46-hour workweek, overtime regulations, minimum wage, paid vacations, sick leave, maternity and paternity leave, workplace safety, and union rights. Jan 8, 2025 · On December 26, 2024, the president of Colombia decreed an increase of 9. 25 USD per hour, which is significantly higher. 24 signed Decree No. 25 per hour since 2009 at the federal level, but Several states have made recurring adjustments to their limits in recent years. 00 COP. Dec 31, 2024 · Colombia’s government decreed a 9. Jul 15, 2025 · Colombia reduces the official workday to 44 hours per week, thanks to a 2021 law that establishes the workday at 42 hours by 2026. 3 million pesos ($340) per month. In the United States, the federally mandated minimum wage Oct 29, 2024 · In 2021, the median family income in B. 07%, reaching an all-time high of one million Colombian pesos per month, equivalent to 262. 1572/2024, increasing the monthly minimum wage for 2025 to 1. Feb 10, 2025 · Living Wage Calculation for Columbia, SC The living wage shown is the hourly rate that an individual in a household must earn to support themselves and/or their family, working full-time, or 2080 hours per year. Nov 16, 2023 · Justice forces the minimum wage in Colombia to rise above inflation – Photo: A. S. The average hourly wage for full-time employees in the province was $34. Dec 26, 2024 · Colombia has decreed a 9. Colombia has a government-mandated minimum wage. 00 per month 2. At the end of 2023, the government announced the minimum wage for 2024 would increase by 12%. 42 million Colombian pesos (US$323), which corresponds to an increase of 9. This was established in a ruling from 1999, setting a precedent for negotiating the amount annually. Colombia is emerging as a leading destination for outsourcing, offering a strategic location, a skilled bilingual workforce, and a favorable business environment. Dec 31, 2024 · The Colombian President’s Office Dec. Hourly Minimum Wage Colombia 2023 $ 4,833. This figure is very low in comparison with the highest average salary worldwide (in Luxembourg). Some countries may have a very complicated minimum wage system; for Dec 30, 2023 · Colombia’s government will increase the nation’s minimum wage by 12% next year, eliminating a key source of uncertainty for central bankers who have been divided over interest rate cuts. Get insights into salary increases, inflation trends, and official data sources. The minimum wage is established by the government every January and serves as a benchmark for wage bargaining. The salaries range from $217, which is the minimum to $7106 as the maximum salary per month. Apr 24, 2025 · The minimum wage has been revised in Colombia with effect from 01 January 2024. The increase in the minimum wage Dec 24, 2024 · The minimum wage in 2025 will rise to 1. Minimum salary – COP 1,423,500 Transportation allowance – COP 200,000 Integral minimum salary – COP 18,505,500 The change in the minimum wage has the following impact on the Social Security Contribution: May 8, 2025 · The minimum wage per month guaranteed by law in Colombia was forecasted to increase by approximately 9. Aug 8, 2025 · The daily equivalent of the base minimum wage is approximately COP 59,740, and the hourly rate is around COP 7,423, based on a 48-hour workweek. The average monthly salary in Colombia across all industries and professions is around 4,710,000 COP (1,214 USD) per month, with the average person earning around 6. Get insights into average wages, job market conditions, and industry comparisons on TimeCamp. 50% increase over the 2024 minimum wage. Jan 14, 2025 · Colombia, a country located in the northwestern part of South America, has a complex and dynamic economy. 500 ii. 00 per year. C. 00 per month. 5 percent between 2024 and 2025, reaching 1. Colombia's minimum wage will increase by 9. Apr 13, 2025 · Colombia’s minimum wage increase, although well-intentioned, offers a limited solution to deep structural issues such as informality, low productivity, and inequality. 4 million pesos (approximately $323. Read Also: Average Salary in Austria Jan 10, 2022 · This minimum wage rate also applies to the capital Bogota. In South America, Colombia ranks just above Venezuela, Argentina, and the Dominican Republic in terms of minimum wage. 9 USD per hour (this is just below the US federally mandated minimum wage of 7. 25 USD per hour, though the actual minimum wage varies according to state. 00 to COP 1,117,172. The increase comes after months of debate between the government and labour unions, who demanded an Dec 25, 2024 · The text reads, “The new minimum wage for working people in Colombia is 1,623,000, including transportation services. 00 to CO P117,172. Through Decree 2613 of 2022, the minimum wage was set to COP1,160,000, representing a 16% increase. 54 per cent in 2025, after talks between the government, business associations, and workers’ unions failed to reach a consensus. Council. Next, we present the panorama observed in Latin America in 2025 around the payment of this salary. The President of the Republic of Colombia (Gustavo Petro) announced through a speech the increase of the minimum wage that will govern in Colombia on January 1st, 2025; the figures were established as follows: i. A full time minimum wage worker in District of Columbia working will earn $680. The National Minimum Wage (NMW) of a country is the minimum amount (lowest salary) per hour, per day, or per month that employers may legally pay to workers. A country’s minimum wage is the lowest amount of money that employers in that country are legally allowed to pay their workers for a given unit of work. May 24, 2025 · Stay up to date on the latest 2025 minimum salary information globally including key amounts and effective dates on major countries from Fragomen’s report. In the North American nation there are federal and state minimum wage standards. Stay updated on the latest figures. That comes out to around 1. The minimum wage in 2025 will rise to 1. Nov 1, 2024 · Discover 2024 minimum wage by country across Latin America. mfokqp ujz nkfq jzxip ixv ibqicx usaec myk beffh vqxc