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Average Salary in Latvia 2020

How much money does a person working in Latvia make?


Average Monthly Salary
3,280 LVL
( 39,300 LVL yearly)

LOW
440
LVL
AVERAGE
3,280
LVL
HIGH
14,500
LVL

A person working in Latvia typically earns around 3,280 LVL per month. Salaries range from 440 LVL (lowest average) to 14,500 LVL (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Distribution of Salaries in Latvia

Median and salary distribution monthly Latvia
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The median, the maximum, the minimum, and the range

  • Salary Range

    Salaries in Latvia range from 440 LVL per month (minimum salary) to 14,500 LVL per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 3,020 LVL per month, which means that half (50%) of the population are earning less than 3,020 LVL while the other half are earning more than 3,020 LVL. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 1,560 LVL while 75% of them are earning more than 1,560 LVL. Also from the diagram, 75% of the population are earning less than 8,070 LVL while 25% are earning more than 8,070 LVL.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Latvia costs anywhere from 16,400 Latvian Lats(s) to 49,200 Latvian Lats(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.



Salary Comparison By Gender

Salary comparison by gender monthly Latvia
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Latvia earn 5% more than their female counterparts.

Female
3,190 LVL
Male+5%
3,360 LVL
Percentage increase and decrease are relative to the previous value

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Latvia
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Where can you get paid more, working for a private company or for the government? Public sector employees in Latvia earn 7% more than their private sector counterparts.

Private Sector
3,160 LVL
Public Sector+7%
3,370 LVL
Percentage increase and decrease are relative to the previous value

Salary Trend and Forecast in Latvia

How are Latvia salaries changing over time? The chart below shows the average salary change in the past few years.

Salary trends and forecast monthly Latvia
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Average Salary 2016
3,010 LVL
Average Salary 2017+4%
3,130 LVL
Average Salary 2018+1%
3,170 LVL
Average Salary 2019+2%
3,220 LVL
Percentage increase and decrease are relative to the previous value

Salaries in Latvia are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant2,280 LVL
Accounting Assistant2,240 LVL
Accounting Manager4,240 LVL
Bookkeeper1,700 LVL
Chartered Accountant2,820 LVL
Corporate Treasurer5,670 LVL
Financial Analyst3,400 LVL
Financial Manager6,510 LVL
Internal Auditor3,550 LVL

Administration / Reception / Secretarial
Administrative Assistant1,720 LVL
Office Manager2,330 LVL
Receptionist2,330 LVL
Secretary1,770 LVL

Advertising / Grapic Design / Events
Art Director3,270 LVL
Creative Director3,480 LVL
Graphic Designer2,340 LVL
Photographer2,160 LVL

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer3,500 LVL
Air Traffic Controller3,320 LVL
Flight Attendant2,880 LVL
Pilot3,920 LVL

Architecture
Architect2,990 LVL
CAD Drafter2,430 LVL

Automotive
Mechanic1,770 LVL
Service Advisor2,750 LVL

Banking
Bank Branch Manager4,810 LVL
Teller2,290 LVL

Bilingual
Teacher2,450 LVL
Translator2,820 LVL

Business Planning
Business Analyst3,990 LVL
Business Development Manager5,160 LVL
Project Manager3,820 LVL

Care Giving and Child Care
Nanny2,020 LVL
Nursery Teacher2,340 LVL

Construction / Building / Installation
Civil Engineer2,870 LVL
Construction Project Manager3,730 LVL
Health and Safety Officer2,060 LVL

Customer Service and Call Center
Call Center Representative2,210 LVL
Customer Service Manager4,500 LVL
Customer Service Representative2,440 LVL

Engineering
Electrical Engineer3,290 LVL
Engineer3,140 LVL
Mechanical Engineer3,310 LVL

Executive and Management
Chief Executive Officer7,590 LVL
Chief Financial Officer6,590 LVL
General Manager6,000 LVL

Food / Hospitality / Tourism / Catering
Chef2,630 LVL
Executive Chef2,930 LVL
Hotel Manager5,110 LVL
Travel Agent2,810 LVL
Waiter / Waitress1,910 LVL

Health and Medical
Dentist7,770 LVL
Dietitian7,310 LVL
Laboratory Technician2,550 LVL
Nurse2,680 LVL

Human Resources
Human Resources Manager4,440 LVL
Human Resources Officer2,820 LVL

Information Technology
Computer Technician2,620 LVL
Database Administrator3,240 LVL
Developer / Programmer3,040 LVL
Information Technology Manager4,760 LVL
Network Engineer2,760 LVL

Law Enforcement / Security / Fire
Police Officer2,680 LVL

Legal
Attorney4,710 LVL
Legal Assistant2,380 LVL

Media / Broadcasting / Arts / Entertainment
Journalist3,350 LVL

Pharmaceutical and Biotechnology
Biomedical Engineer2,910 LVL
Pharmacist3,840 LVL

Sales Retail and Wholesale
Cashier1,860 LVL
Sales Manager5,110 LVL
Sales Representative2,170 LVL

Teaching / Education
Elementary School Teacher2,210 LVL
Secondary School Teacher2,770 LVL

Average Hourly Wage in Latvia


19 LVL per hour

The average hourly wage (pay per hour) in Latvia is 19 LVL. This means that the average person in Latvia earns approximately 19 LVL for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Salary Comparison By City

CityAverage Salary
Riga3,550 LVL
1565 - 84

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