Re:Venezuela on Brink of Hyperinflation
by ced on Sunday August 23, 2015 @02:54PM
(#10106393)
Is it common for engineers to earn minimum wage?
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Apparently, it's pretty rare for skilled workers to even earn 100% of minimum wage. The median income for Venezuela is approximately 60% below minimum wage. In black market exchange rates, that equates to approximately $2 USD per month.
The maximum surveyed income, according to SalaryExplorer, is 72,000 bolivars per month, which amounts to approximately 10x minimum wage, or around $100 a month.
Given the median though, one assumes that is an extreme outlier.