Average Salary in Cuba

One of the main purposes of obtaining education or skill is to be knowledgeable and to equip oneself with basic skills for economic advancement. Simply put, Salaries and re numeration’s give one a cutting edge in being self-reliant. The single largest beautiful island of Archipelago, Cuba is a beautiful region to live in. With its location in the tropics, Cuba has amazing opportunities for foreign investment. Consider what this could mean for you and your loved ones but that’s only part of the story. Additionally, The Cuban government came up with government directives to control wages from the 1960s which later changed later on in 2008.

What is the average wage in Cuba? Well… it is ₱740 ($29.60). This grew from ₱480 ($16.30) in 2007. The highly paid employees take about $49.80 whereas the low paid employees take home about $20.10. A professional roughly earns ₱265,000 annually with the lower amount ranging from 35,900 CUP to ₱ 1,180,000 on the higher side.

How much do the different professionals earn in Cuba?
Does Cuba pay its workforce better than other countries?
How is the cost of living with an average salary in Cuba?

This amount varies between different career fields and additional allowances such as housing and transport.

You might be wondering how average salary in Cuba is important to you. But here’s the kicker, how else will you be able to plan for your salary if you intend to live in Cuba? Additionally, is it not important to know how much your fellow professionals in your field are earning. It gets better: You can be able to negotiate for better terms off employment.

Several factors come into consideration with regard to a person’s salary. These factors include education level, the number of years of experience, and the field of job.

Additionally, half of the Cuban population is running less than ₱244,000 while the other half is above the median salary scale. In this case, the median salary is ₱244,000 annually. The average wage per hour is ₱130. The salary differs from one city to another too.

With most families live with $25 monthly, with the lower-income earners surviving with an average of $18 66 monthly from the year 2008-2015.

27%, thereabout earn under $50 monthly, whereas 34% take home between $50 to $100. Only a small majority earn over $200 monthly, with only a paltry 1.5% toppling more than $1,000.

Even with lower income levels than most countries, the average salary in Cuba sustains the workforce, while still receiving free healthcare, as well as free education. The average median salary range is $300-$400.

On the other hand, about half of the Cuban workforce living in the suburban areas live on a household income of around $1000-$2000.

Cuba Minimum Wage per Hour

One of the government directives in Cuba is to have economic reforms that seek greater employee compensation. This came as a coping mechanism of the dual currency use in Cuba.

The dual currency usage has been manipulated by the communist opposing governments setting extremely low praises for services rendered, by the employees.

As a result, the government sought to increase the minimum salary at $17.00 monthly whereas the average salary skill will move from $32 $44 Additionally, state pensions below $20 were also increased. By increasing the lower pensions, even after the workforce retiring, they can still afford their basic needs.

Additionally, a directive to have a University Professor receiving $68 a month, whereas the lowest educator in the university level to receive $56 monthly. Government journalists also received a boost from $15.50 to $50 per month. By increasing the minimum wages, the Cuban government hopes to stimulate the economy, despite the tough economic times.

With laid down directives on how much the minimum wage should be, it is wrong for any employer to forfeit the regulations. Whether a big or small sized company, minimum wage rates should be adhered to.

Highest Paying Jobs in Cuba

The topmost salaries in Cuba start with the medical profession. In this, we see the highest-paid professional earning from ₱50,000 to ₱90,000. Another highly paid profession is regional director of operations taking home about ₱43,500. Not to forget, finance also pays handsomely, with directors earning up to ₱41,800 per month.

Chief Marketing officers also take home about ₱38,600. Employees who receive higher salaries include research and development executives who earn a salary of about ₱38,100 Whereas brand directors check in ₱38,300. Head of strategies in different industries also receives high salaries worth ₱38,000.

Not to forget vice presidents in any company on average receive ₱37,500 per month. International banking managers also receive a hefty salary of ₱37,000. Professors on the other hand especially in mathematics take home a salary of ₱36,800. Their physics counterparts are paid ₱36,600. Additionally, tax directors, pharmacy managers and chief operating officers follow in closely earning ₱36,400, ₱35,900 and ₱35,800 respectively.

More to that, Sales managers and sales directors also receive good compensation at ₱35,400 for both. More to that, legal services director earns about ₱36,400, near similar range of operations executive who take home ₱3610100 College presidents to earn a stable income at ₱36,000.

Not to forget, deputy general manager, global master data manager, Business development director financial services manager and then of faculty have highly paid jobs. The above professions on average are paid ₱35,300, ₱35,200, ₱35,100, ₱34,800 and ₱34,700 respectively.

The highest paying jobs in Cuba are not a reserve for the few, but those who take an extra mile in pursuit of growth academically and through experience. Additionally, one’s salary scale can grow even up to ten times with more experience.

Moreover, jobs with fewer skilled personnel will tend to pay better than field professions with a lot of people. The law of demand and supply applies. The less the supply, the more the demand. The reverse also holds true.

Doctors Salary in Cuba

Growing up, am sure some of us who never made it to medical school wanted to be doctors. That am telling you from my experience. Medicine is one of the most rewarding professions in Cuba. The salary scale is dependent on two major factors.

These include the level of specialization in the medical field and also the number of years of experience. For instance, one of the highest-paid doctors is a chief of surgery who takes home about ₱93,800.