Colombia  Minimum Wage, Labor Law, and Employment Data Sheet Colombia Minimum Wage Rate 2024

Appx. Yearly Minimum Wage
8,279,448 Colombian pesos
Rank by Min. Wage
122 / 197
Gross National Product
$102,896.00 USD

Colombia has a government-mandated minimum wage, and no worker in Colombia can be paid less then this mandatory minimum rate of pay. Employers in Colombia who fail to pay the Minimum Wage may be subject to punishment by Colombia's government.

What is the Colombia Minimum Wage?

Colombia's Minimum Wage is the lowest amount a worker can be legally paid for his work. Most countries have a nation-wide minimum wage that all workers must be paid.

Columbia's minimum wage is 689,954 Colombian pesos a month. The minimum wage is established by the government every January and serves as a benchmark for wage bargaining. Colombia's minimum wage was last changed in 1-Jan-2016.

Facts and statistics about Colombia

Colombia is a country located in the South America region with a population of 42,321,000 and an average life span of 70.3 years.

Local Name Colombia
Gross National Product $102,896.00
Government Type Republic
Current Leader Andrés Pastrana Arango
Independence Year 1810
Continent & Region South America, South America
Surface Area 1,138,914 square kilometers
ISO 3166 Country Code CO

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