Average Salary in Nicaragua 2020
How much money does a person working in Nicaragua make?
LOW
4,790
NIO AVERAGE
18,900
NIO HIGH
84,500
NIO
A person working in Nicaragua typically earns around 18,900 NIO per month. Salaries range from 4,790 NIO (lowest average) to 84,500 NIO (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 Nicaragua
The median, the maximum, the minimum, and the range
Salary Range
Salaries in Nicaragua range from 4,790 NIO per month (minimum salary) to 84,500 NIO per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 18,200 NIO per month, which means that half (50%) of the population are earning less than 18,200 NIO while the other half are earning more than 18,200 NIO. 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 10,300 NIO while 75% of them are earning more than 10,300 NIO. Also from the diagram, 75% of the population are earning less than 49,300 NIO while 25% are earning more than 49,300 NIO.
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?
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.
Salary Comparison By Education
How does the education level affect your salary?
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.
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 Nicaragua costs anywhere from 94,700 Cordoba Oro(s) to 284,000 Cordoba Oro(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
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Nicaragua earn 9% more than their female counterparts on avergae across all sectors.
| Male | 19,900 NIO | |
| Female | -8% | 18,300 NIO |
Average Annual Salary Increment Percentage in Nicaragua
How much are annual salary increments in Nicaragua? How often do employees get salary raises?
Nicaragua
Employees in Nicaragua are likely to observe a salary increase of approximately 5% every 28 months.
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
Annual Increment Rate By Industry 2019
| Banking | 3% | |
| Energy | 6% | |
| Information Technology | 9% | |
| Healthcare | 3% | |
| Travel | 6% | |
| Construction | 9% | |
| Education | 3% |
Listed above are the average annual increase rates for each industry in Nicaragua 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.
Average Salary Increase Rate by Experience Level
| Junoir Level | 3% - 5% | |
| Mid-Career | 6% - 9% | |
| Senior Level | 10% - 15% | |
| Top Management | 15% - 20% |
The difference in increment rates is somehow justified because employers put more effort to retain more experienced staff since they are harder to acquire than less experienced ones.
Worldwide Salary Raises: All Countries and All Jobs
Bonus and Incentive Rates in Nicaragua
How much and how often are bonuses being awarded?
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67% of surveyed staff in Nicaragua reported that they haven't received any bonuses or incentives in the previous year while 33% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.
| Received Bonus | 33% | |
| No Bonus | 67% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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.
Bonus Rates Comparison by Career Field
| Finance | High | |
| Architecture | High | |
| Sales | High | |
| Business Development | High | |
| Marketing / Advertising | High | |
| Information Technology | Moderate | |
| Healthcare | Moderate | |
| Insurance | Moderate | |
| Customer Service | Moderate | |
| Human Resources | Moderate | |
| Construction | Low | |
| Transport | Low | |
| Hospitality | Low |
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting 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: | Example: |
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.
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.
Salaries for popular jobs
| Job Title | Average Salary |
| Accounting and Finance | |
| Accountant | 13,400 NIO |
| Accounting Assistant | 10,000 NIO |
| Accounting Manager | 28,200 NIO |
| Bookkeeper | 8,320 NIO |
| Chartered Accountant | 16,700 NIO |
| Corporate Treasurer | 24,500 NIO |
| Financial Analyst | 23,300 NIO |
| Financial Manager | 38,500 NIO |
| Internal Auditor | 18,500 NIO |
Administration / Reception / Secretarial | |
| Administrative Assistant | 9,580 NIO |
| Office Manager | 16,300 NIO |
| Receptionist | 7,270 NIO |
| Secretary | 8,650 NIO |
Advertising / Grapic Design / Events | |
| Art Director | 18,500 NIO |
| Creative Director | 18,400 NIO |
| Graphic Designer | 11,500 NIO |
| Photographer | 10,200 NIO |
Airlines / Aviation / Aerospace / Defense | |
| Aerospace Engineer | 24,300 NIO |
| Air Traffic Controller | 20,000 NIO |
| Flight Attendant | 12,200 NIO |
| Pilot | 33,200 NIO |
Architecture | |
| Architect | 21,600 NIO |
| CAD Drafter | 9,420 NIO |
Automotive | |
| Mechanic | 6,680 NIO |
| Service Advisor | 12,400 NIO |
Banking | |
| Bank Branch Manager | 33,000 NIO |
| Teller | 7,040 NIO |
Bilingual | |
| Teacher | 14,800 NIO |
| Translator | 16,700 NIO |
Business Planning | |
| Business Analyst | 22,900 NIO |
| Business Development Manager | 29,200 NIO |
| Project Manager | 21,100 NIO |
Care Giving and Child Care | |
| Nanny | 7,450 NIO |
| Nursery Teacher | 6,730 NIO |
Construction / Building / Installation | |
| Civil Engineer | 16,800 NIO |
| Construction Project Manager | 31,800 NIO |
| Health and Safety Officer | 8,320 NIO |
Customer Service and Call Center | |
| Call Center Representative | 7,150 NIO |
| Customer Service Manager | 25,900 NIO |
| Customer Service Representative | 6,870 NIO |
Engineering | |
| Electrical Engineer | 17,400 NIO |
| Engineer | 16,900 NIO |
| Mechanical Engineer | 17,700 NIO |
Executive and Management | |
| Chief Executive Officer | 40,100 NIO |
| Chief Financial Officer | 38,100 NIO |
| General Manager | 33,500 NIO |
Food / Hospitality / Tourism / Catering | |
| Chef | 11,500 NIO |
| Executive Chef | 13,500 NIO |
| Hotel Manager | 34,600 NIO |
| Travel Agent | 12,300 NIO |
| Waiter / Waitress | 5,890 NIO |
Health and Medical | |
| Dentist | 44,100 NIO |
| Dietitian | 34,900 NIO |
| Laboratory Technician | 14,100 NIO |
| Nurse | 14,400 NIO |
Human Resources | |
| Human Resources Manager | 28,200 NIO |
| Human Resources Officer | 11,500 NIO |
Information Technology | |
| Computer Technician | 14,100 NIO |
| Database Administrator | 18,000 NIO |
| Developer / Programmer | 18,200 NIO |
| Information Technology Manager | 30,700 NIO |
| Network Engineer | 15,600 NIO |
Law Enforcement / Security / Fire | |
| Police Officer | 10,900 NIO |
Legal | |
| Attorney | 35,600 NIO |
| Legal Assistant | 10,100 NIO |
Media / Broadcasting / Arts / Entertainment | |
| Journalist | 20,900 NIO |
Pharmaceutical and Biotechnology | |
| Biomedical Engineer | 16,500 NIO |
| Pharmacist | 22,800 NIO |
Sales Retail and Wholesale | |
| Cashier | 7,100 NIO |
| Sales Manager | 32,000 NIO |
| Sales Representative | 11,500 NIO |
Teaching / Education | |
| Elementary School Teacher | 13,100 NIO |
| Secondary School Teacher | 14,500 NIO |
Average Hourly Wage in Nicaragua
110 NIO per hourThe average hourly wage (pay per hour) in Nicaragua is 110 NIO. This means that the average person in Nicaragua earns approximately 110 NIO for every worked hour.
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.
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 Nicaragua earn 14% more than their private sector counterparts on average across all sectors.
| Private Sector | 18,000 NIO | |
| Public Sector | +14% | 20,400 NIO |
