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Pharmaceutical and Biotechnology Average Salaries in Latvia 2020

How much money does a person working in Pharmaceutical and Biotechnology make in Latvia?


Average Monthly Salary
1,750 LVL
( 21,000 LVL yearly)

LOW
870
LVL
AVERAGE
1,750
LVL
HIGH
3,100
LVL

A person working in Pharmaceutical and Biotechnology in Latvia typically earns around 1,750 LVL per month. Salaries range from 870 LVL (lowest average) to 3,100 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 Pharmaceutical and Biotechnology careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Assistant Pharmacist1,140 LVL
Assistant Pharmacy Director2,120 LVL
Associate Medical Affairs Director2,780 LVL
Bioinformatics Scientist2,500 LVL
Bioinformatics Technician1,180 LVL
Biological Scientist2,790 LVL
Biological Technician1,220 LVL
Biomedical Engineer1,160 LVL
Biomedical Engineering Director2,300 LVL
Biostatistician1,710 LVL
Biotechnologist 1,790 LVL
Biotechnology Lead Data Manager1,390 LVL
Chemical Process Technician1,290 LVL
Clinical Consultant1,830 LVL
Clinical Data Manager1,700 LVL
Clinical Data Specialist1,590 LVL
Clinical Operations Manager2,610 LVL
Clinical Pharmacist1,730 LVL
Clinical Pharmacy Specialist1,990 LVL
Clinical Programmer880 LVL
Clinical Project Manager1,590 LVL
Clinical Research Associate1,560 LVL
Clinical Research Manager2,400 LVL
Clinical Study Manager2,230 LVL
Compliance Specialist1,800 LVL
Cytology Laboratory Technologist1,440 LVL
Cytotechnologist1,460 LVL
GCP Auditor1,520 LVL
Hospital Pharmacy Technician1,280 LVL
Manufacturing Engineer1,430 LVL
Medical Affairs Director2,810 LVL
Medical Representative 1,130 LVL
Medical Science Liaison1,950 LVL
Molecular and Cellular Biologist2,890 LVL
Nuclear Pharmacist1,790 LVL
Pharmaceutical Manufacturing Lead3,060 LVL
Pharmaceutical Operations Excellence Manager2,910 LVL
Pharmaceutical Process Engineer1,530 LVL
Pharmaceutical Production Assistant Manager1,830 LVL
Pharmaceutical Quality Auditor1,810 LVL
Pharmaceutical Regulatory Affairs Assistant1,420 LVL
Pharmaceutical Regulatory Affairs Specialist1,590 LVL
Pharmaceutical Research Associate1,790 LVL
Pharmaceutical Research Scientist2,640 LVL
Pharmaceutical Researcher2,420 LVL
Pharmaceutical Sales and Marketing Manager2,180 LVL
Pharmaceutical Sales Manager2,440 LVL
Pharmaceutical Sales Representative1,140 LVL
Pharmaceutical Supply Chain Manager2,620 LVL
Pharmaceutical Team Leader1,860 LVL
Pharmaceutical Technologist1,290 LVL
Pharmacist1,740 LVL
Pharmacy Aide1,110 LVL
Pharmacy Manager2,500 LVL
Pharmacy Stock Controller1,040 LVL
Pharmacy Technician1,040 LVL
Records Management Coordinator890 LVL
Shift Encapsulator990 LVL
Staff Pharmacist1,720 LVL

Pharmaceutical and Biotechnology Jobs Salary Distribution in Latvia

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

  • Salary Range

    Pharmaceutical and Biotechnology salaries in Latvia range from 870 LVL per month (minimum average salary) to 3,100 LVL per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 1,750 LVL per month, which means that half (50%) of people working in Pharmaceutical and Biotechnology are earning less than 1,750 LVL while the other half are earning more than 1,750 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 people working in Pharmaceutical and Biotechnology are earning less than 1,180 LVL while 75% of them are earning more than 1,180 LVL. Also from the diagram, 75% of people working in Pharmaceutical and Biotechnology are earning less than 2,420 LVL while 25% are earning more than 2,420 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 6,510 Latvian Lats(s) to 19,500 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.

Pharmaceutical and Biotechnology Salary Comparison By Gender

Salary comparison by gender monthly Latvia Pharmaceutical and Biotechnology
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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 who work in Pharmaceutical and Biotechnology earn 5% more than their female counterparts on average.

Male
1,790 LVL
Female-4%
1,710 LVL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Latvia for all Careers

Salary comparison by gender monthly Latvia
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Pharmaceutical and Biotechnology Average Annual Salary Increment Percentage in Latvia

How much are annual salary increments in Latvia for Pharmaceutical and Biotechnology professionals? How often do employees get salary raises?

Pharmaceutical and Biotechnology

Pharmaceutical and Biotechnology professionals in Latvia are likely to observe a salary increase of approximately 9% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Latvia Pharmaceutical and Biotechnology
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Latvia / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Latvia is 5%.

Annual Increment Rate By Industry 2019

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Listed above are the average annual increase rates for each industry in Latvia for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Pharmaceutical and Biotechnology Bonus and Incentive Rates in Latvia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Latvia Pharmaceutical and Biotechnology
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Pharmaceutical and Biotechnology is considered to be a moderate bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

49% of surveyed staff in Pharmaceutical and Biotechnology reported that they haven't received any bonuses or incentives in the previous year while 51% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
51%
No Bonus
49%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Pharmaceutical and Biotechnology Hourly Average Wage in Latvia


10 LVL per hour

The average hourly wage (pay per hour) in Latvia is 10 LVL. This means that the average person in Latvia earns approximately 10 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.

Pharmaceutical and Biotechnology VS Other Jobs

Salary Comparison Between Pharmaceutical and Biotechnology and Pharmaceutical and Biotechnology monthly Latvia
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The average salary for Pharmaceutical and Biotechnology is 34% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Riga1,890 LVL

Government vs Private Sector Salary Comparison

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 on average across all sectors.

Private Sector
1,250 LVL
Public Sector+7%
1,340 LVL
Percentage increase and decrease are relative to the previous value

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