Average Salary in Nicaragua 2020
How much money does a person working in Nicaragua make?
LOW
3,000
NIO AVERAGE
22,100
NIO HIGH
98,000
NIO
A person working in Nicaragua typically earns around 22,100 NIO per month. Salaries range from 3,000 NIO (lowest average) to 98,000 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 3,000 NIO per month (minimum salary) to 98,000 NIO per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 21,300 NIO per month, which means that half (50%) of the population are earning less than 21,300 NIO while the other half are earning more than 21,300 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 10,900 NIO while 75% of them are earning more than 10,900 NIO. Also from the diagram, 75% of the population are earning less than 57,300 NIO while 25% are earning more than 57,300 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 111,000 Cordoba Oro(s) to 332,000 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 13% more than their female counterparts.
| Female | 21,100 NIO | |
| Male | +13% | 23,800 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.
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.
| Private Sector | 21,000 NIO | |
| Public Sector | +14% | 23,900 NIO |
Salary Trend and Forecast in Nicaragua
How are Nicaragua salaries changing over time? The chart below shows the average salary change in the past few years.
| Average Salary 2016 | 19,700 NIO | |
| Average Salary 2017 | +4% | 20,400 NIO |
| Average Salary 2018 | +2% | 20,800 NIO |
| Average Salary 2019 | +3% | 21,300 NIO |
Salaries in Nicaragua are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% 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 Title | Average Salary |
| Accounting and Finance | |
| Accountant | 15,200 NIO |
| Accounting Assistant | 14,000 NIO |
| Accounting Manager | 28,600 NIO |
| Bookkeeper | 10,900 NIO |
| Chartered Accountant | 18,600 NIO |
| Corporate Treasurer | 36,900 NIO |
| Financial Analyst | 22,000 NIO |
| Financial Manager | 45,100 NIO |
| Internal Auditor | 23,200 NIO |
Administration / Reception / Secretarial | |
| Administrative Assistant | 11,100 NIO |
| Office Manager | 15,000 NIO |
| Receptionist | 16,300 NIO |
| Secretary | 12,000 NIO |
Advertising / Grapic Design / Events | |
| Art Director | 21,200 NIO |
| Creative Director | 21,800 NIO |
| Graphic Designer | 14,500 NIO |
| Photographer | 14,400 NIO |
Airlines / Aviation / Aerospace / Defense | |
| Aerospace Engineer | 24,100 NIO |
| Air Traffic Controller | 21,400 NIO |
| Flight Attendant | 17,700 NIO |
| Pilot | 26,500 NIO |
Architecture | |
| Architect | 18,800 NIO |
| CAD Drafter | 16,100 NIO |
Automotive | |
| Mechanic | 10,800 NIO |
| Service Advisor | 16,500 NIO |
Banking | |
| Bank Branch Manager | 30,800 NIO |
| Teller | 14,700 NIO |
Bilingual | |
| Teacher | 17,100 NIO |
| Translator | 18,600 NIO |
Business Planning | |
| Business Analyst | 25,400 NIO |
| Business Development Manager | 32,300 NIO |
| Project Manager | 24,500 NIO |
Care Giving and Child Care | |
| Nanny | 13,100 NIO |
| Nursery Teacher | 14,800 NIO |
Construction / Building / Installation | |
| Civil Engineer | 19,200 NIO |
| Construction Project Manager | 26,300 NIO |
| Health and Safety Officer | 13,700 NIO |
Customer Service and Call Center | |
| Call Center Representative | 15,200 NIO |
| Customer Service Manager | 29,200 NIO |
| Customer Service Representative | 14,900 NIO |
Engineering | |
| Electrical Engineer | 20,100 NIO |
| Engineer | 18,800 NIO |
| Mechanical Engineer | 21,200 NIO |
Executive and Management | |
| Chief Executive Officer | 46,500 NIO |
| Chief Financial Officer | 44,000 NIO |
| General Manager | 38,900 NIO |
Food / Hospitality / Tourism / Catering | |
| Chef | 17,400 NIO |
| Executive Chef | 19,000 NIO |
| Hotel Manager | 32,900 NIO |
| Travel Agent | 18,400 NIO |
| Waiter / Waitress | 13,000 NIO |
Health and Medical | |
| Dentist | 51,100 NIO |
| Dietitian | 46,700 NIO |
| Laboratory Technician | 16,300 NIO |
| Nurse | 16,900 NIO |
Human Resources | |
| Human Resources Manager | 30,000 NIO |
| Human Resources Officer | 18,100 NIO |
Information Technology | |
| Computer Technician | 16,400 NIO |
| Database Administrator | 20,900 NIO |
| Developer / Programmer | 18,900 NIO |
| Information Technology Manager | 31,100 NIO |
| Network Engineer | 18,100 NIO |
Law Enforcement / Security / Fire | |
| Police Officer | 16,600 NIO |
Legal | |
| Attorney | 30,400 NIO |
| Legal Assistant | 16,000 NIO |
Media / Broadcasting / Arts / Entertainment | |
| Journalist | 21,000 NIO |
Pharmaceutical and Biotechnology | |
| Biomedical Engineer | 19,200 NIO |
| Pharmacist | 23,300 NIO |
Sales Retail and Wholesale | |
| Cashier | 12,400 NIO |
| Sales Manager | 33,600 NIO |
| Sales Representative | 13,400 NIO |
Teaching / Education | |
| Elementary School Teacher | 15,200 NIO |
| Secondary School Teacher | 16,900 NIO |
Average Hourly Wage in Nicaragua
130 NIO per hourThe average hourly wage (pay per hour) in Nicaragua is 130 NIO. This means that the average person in Nicaragua earns approximately 130 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.
