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.
Salaries in Latvia range from 440 LVL per month (minimum salary) to 14,500 LVL per month (maximum average salary, actual maximum is higher).
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+1%|
|Average Salary 2019||+2%|
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.
|Job Title||Average Salary|
|Accounting and Finance|
|Accounting Assistant||2,240 LVL|
|Accounting Manager||4,240 LVL|
|Chartered Accountant||2,820 LVL|
|Corporate Treasurer||5,670 LVL|
|Financial Analyst||3,400 LVL|
|Financial Manager||6,510 LVL|
|Internal Auditor||3,550 LVL|
Administration / Reception / Secretarial
|Administrative Assistant||1,720 LVL|
|Office Manager||2,330 LVL|
Advertising / Grapic Design / Events
|Art Director||3,270 LVL|
|Creative Director||3,480 LVL|
|Graphic Designer||2,340 LVL|
Airlines / Aviation / Aerospace / Defense
|Aerospace Engineer||3,500 LVL|
|Air Traffic Controller||3,320 LVL|
|Flight Attendant||2,880 LVL|
|CAD Drafter||2,430 LVL|
|Service Advisor||2,750 LVL|
|Bank Branch Manager||4,810 LVL|
|Business Analyst||3,990 LVL|
|Business Development Manager||5,160 LVL|
|Project Manager||3,820 LVL|
Care Giving and Child Care
|Nursery Teacher||2,340 LVL|
Construction / Building / Installation
|Civil Engineer||2,870 LVL|
|Construction Project Manager||3,730 LVL|
|Health and Safety Officer||2,060 LVL|
Customer Service and Call Center
|Call Center Representative||2,210 LVL|
|Customer Service Manager||4,500 LVL|
|Customer Service Representative||2,440 LVL|
|Electrical Engineer||3,290 LVL|
|Mechanical Engineer||3,310 LVL|
Executive and Management
|Chief Executive Officer||7,590 LVL|
|Chief Financial Officer||6,590 LVL|
|General Manager||6,000 LVL|
Food / Hospitality / Tourism / Catering
|Executive Chef||2,930 LVL|
|Hotel Manager||5,110 LVL|
|Travel Agent||2,810 LVL|
|Waiter / Waitress||1,910 LVL|
Health and Medical
|Laboratory Technician||2,550 LVL|
|Human Resources Manager||4,440 LVL|
|Human Resources Officer||2,820 LVL|
|Computer Technician||2,620 LVL|
|Database Administrator||3,240 LVL|
|Developer / Programmer||3,040 LVL|
|Information Technology Manager||4,760 LVL|
|Network Engineer||2,760 LVL|
Law Enforcement / Security / Fire
|Police Officer||2,680 LVL|
|Legal Assistant||2,380 LVL|
Media / Broadcasting / Arts / Entertainment
Pharmaceutical and Biotechnology
|Biomedical Engineer||2,910 LVL|
Sales Retail and Wholesale
|Sales Manager||5,110 LVL|
|Sales Representative||2,170 LVL|
Teaching / Education
|Elementary School Teacher||2,210 LVL|
|Secondary School Teacher||2,770 LVL|
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.