holders make about 23% more than those with a Master’s degree even while doing the same job. People with a diploma earn about 17% more than those with just a high school education.Īn employee with a Bachelor’s degree will probably earn 24% more than those with a diploma/certificate.Įmployees with a Master’s degree typically earn 29% more than their peers with a Bachelor’s degree. Professionals with over ten years of experience will notice a significant increase of 21% and an additional 14% after fifteen years. Those with over five years of experience earn about 36% more than those with less than five years of experience. Salary Comparison by ExperienceĮxperience is an essential factor while deciding salaries – the more experienced the candidate, the higher their base salary.Įmployees with two to five years of experience will usually earn 32% more than juniors or freshers. We’ll discuss the factors that affect the average salary in Costa Rica and even provide a handy salary guide for some of the most popular Costa Rican professions. In this case, the employee or retiree receives the bonus, severance pay, compensation for lack of notice (if applicable), and compensation for leaves not taken. Employees receive this bonus even in the event of an involuntary dismissal or retirement. The law also regulates daily and weekly working hours, eight and 48 hours respectively.Īdditionally, employees are entitled to aguinaldo or a Christmas bonus equalling a month’s salary. So, the minimum wage reflects any increased cost of living, inflation rate, and forecasted economic development. The government reviews these salary reports twice a year – January and July/August. Technical worker – Diploma of Higher Education Instead, the National Salary Council of the Ministry of Labor and Social Security sets occupational rates for different job titles and skill levels. Unlike most countries, Costa Rica has no fixed hourly minimum wage. While there are exceptions, the country’s economic situation highly influences the raises. Experience LevelĮmployees in thriving industries, such as travel, will usually receive frequent and higher increments. However, this salary increase rate may differ depending on the employee’s experience and industry: A) ExperienceĪn employer is usually more likely to spend more to retain talented, experienced employees simply because they’re tougher to recruit. Typically, Costa Rican employees receive a 9% salary increment every 17 months, higher than the world average of 3% every 16 months. It’s important to keep these numbers and their distribution in mind while finalizing the monthly salary for any employee. About 25% of the population earns less than 1,370,000 CRC while 75% earn more than 1,370,000 CRC. However, percentiles reveal a different story. It represents the exact middle of most Costa Rican salaries. The median salary in Costa Rica is 2,460,000 CRC per month. Note: These figures represent averages the actual monthly salaries can be lower or higher. In Costa Rica, salaries can range from 317,916 CRC to 10,500,000 CRC per month. Let’s explore some other facets of Costa Rican salaries. The average monthly salary can range from 317,916 CRC (lowest for unskilled workers) to as high as 10,500,000 CRC. The average salary in Costa Rica depends on various factors, such as years of experience, industry, and education level.Ĭonsidering all of the above, 27,395,933 CRC ( Costa Rican Colónes ) per year is the average salary for most Costa Rican employees.Īccording to the August 2021 exchange rate, this amounts to 44,220 USD/year. ![]() What is the Average Salary in Costa Rica?
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