How much money does a person working in Latvia make?
1,403 LVL per month
Average Monthly Salary
A person working in Latvia typically earns around 1,403 LVL per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Distribution of Salaries in Latvia | All Jobs
25% of people earn
50% of people earn
75% of people earn
Abount These Figures: Salary Range, Median and Percentiles
Salaries in Latvia range between 500 LVL per month (minimum salary) to 4,500 LVL per month (maximum salary).
The median salary is 1,050 LVL per month, which means that half (50%) of the population are earning less than 1,050 LVL while the other half are earning more than 1,050 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.
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 700 LVL while 75% of them are earning more than 700 LVL. Also from the diagram, 75% of the population are earning less than 1,700 LVL while 25% are earning more than 1,700 LVL.
What is the difference between the median and the average salary? What should you be looking at?
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 plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary
Salary Trend and Forecast in Latvia
How are Latvia salaries changing over time? Listed below is a chart that shows the average salary over the past few years.
|Average Salary 2015|| = |
|Average Salary 2016|| +3% |
|Average Salary 2017|| +3% |
|Average Salary 2018|| +1% |
Percentage increase and decrease are relative to the previous value
Salaries in Latvia are on the rise in the year 2018 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2018 are 1% higher than those of 2017. The trend suggests a slow yet continous increase in pay in 2019 and future years. These numbers differ slightly from industry to another.
Average Hourly Wage in Latvia | All Jobs
7 LVL per hour
Average Hourly Wage
The average hourly wage (pay per hour) in Latvia | All Jobs is 7 LVL. This means that the average person in Latvia earns approximatly 7 LVL for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
The hourly wage is the salary paid in one working 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 annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.
Salary Comparison By City