LATAM Compensation Report – A Guide to Understanding Developer Salary

We've created this report based on FAQs from companies looking to:

  • Understand compensation in Latin America before starting a hiring process
  • Keep companies up to date on the Latin American talent market offerings
  • Make smart, informed decisions when growing their teams
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In 2023, wages saw a 15% decrease from previous periods, while rates for 2024 have remained steady, offering an average of 51% in savings compared to those in the United States.

Latin American compensation ranges continue to be a key factor for companies worldwide looking to expand their teams.

Get an inside look into what tech talent could be expecting, and trends to keep in mind when searching for top talent in Latin America.

What's inside:
Insights On LATAM’s Tech Hub — 2024 Updates
Most Sought After Tech Skills
Compensation Table for Tech and Non-Tech Roles
Most Popular Perks
Why hire LATAM?

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Compensation for Tech Talent:
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Our insights on LATAM’s tech hub— 2024 Market Updates

Starting 2023, the most sought-after tech skill by recruiters was web development, closely trailed by DevOps, Customer Support, database software skills, and cybersecurity expertise.

By the end of the same year, the greatest volume of active most sought-after engineering roles were: 

Most sought-after engineering roles by small-sized companies (including startups) Most sought-after engineering roles by mid-sized companies
1. Full-stack Developer 1. Back-end Engineer
2. Back-end Developer 2. Full-stack Engineer
3. Front-end Developer 3. Front-end Engineer
4. Support Engineer 4. Product Manager
5. Data Engineer 5. Data Engineer

If we take into account other tech roles, aside from those related to web development, AI and Machine Learning began to surge in demand by mid 2023. Approximately 25% of job listings were requiring AI-related skills at that time.

As we transition into 2024, the following roles have seen a rise in job openings:

  1. Security Engineer (Cybersecurity): ⬆️ 28%
  2. Data Engineer: ⬆️ 21%
  3. Machine Learning Engineer: ⬆️ 16%
  4. Business Analyst: ⬆️ 15%
  5. Backend Engineer: ⬆️ 11%

Conversely, positions related to UX and copywriting have experienced a noticeable decline due to the implementation of GenAI in the workplace.


  

Enough of roles, what about tech skills?

JavaScript and Java, widely used in both back-end and front-end web development, stood out as the top programming languages globally in 2022, closely followed by SQL and Python.

In 2023, Java and Python maintained their dominance, with SQL and C++ not far behind, pushing JavaScript to the bottom of the list of the Top 5 skills sought after by employers.

When working with startups, the top 5 skills look slightly different:
Node has consistently held the top spot for two consecutive years, followed by React and Python in third place. Bubble has made its way onto the list since mid-2023 due to the increasing demand for low-code solutions. Similarly, JavaScript remains at the bottom of the list of most sought-after tech skills by startups.

Pro tip: Node is the number one skill within our vast talent network. The region boasts a wealth of talented and proficient Node developers who can contribute significantly to your projects and help drive success.

AWANAS TALENT NETWORK TOP SKILLS

If you have a need for Mobile Development roles

Moreover, the demand for Mobile Development roles is on the rise, particularly for experienced Android and iOS native developers. However, due to the high competition in the market, finding senior developers in these areas may take longer than anticipated.

Pro tip: To expedite the recruitment process, consider React Native developers, who possess the necessary skills to ensure faster placements without compromising on the quality of work.

 

Remember: 80% of talent prefer working remotely

Forbes, Buffer and many other sources have provided evidence that remote work is ONE big perk for talent.

Pro tip: Consider opening global remote positions when looking for senior developers, and broaden your talent pool.

Awana LinkedIn Poll
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Compensation for Tech Talent:
The 2024 Complete Guide

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Compensation ranges & seniority for tech roles

For companies seeking cost efficiency, moving certain positions abroad can be advantageous, especially considering that wages in the U.S. are typically double those in countries like Argentina, Ecuador, and Mexico. Below is a comparative chart showcasing potential savings when comparing tech talent salaries between the U.S. and LATAM regions.

Average annual salaries for U.S.- and Latin American-based remote hires

These salary ranges are determined by market rates and reflect the average compensation for software engineers proficient in English at a B2 level.

Keep in mind that these figures are approximations—not a total pay, and may vary based on specific technologies.

Salary ranges for DevOps Engineers

Years of experience Seniority Monthly comp in US dollars
1 - 2 years Junior 1000 - 1700
2 - 3 years Junior Advanced 1800 - 2700
3 - 4 years Mid level 2800 - 4000
5 - 10 years Senior level 4200 - 6300
10+ years Tech Lead or Manager 6500 - 10500


Salary ranges for a Software Developer or a QA Automation Engineer

Years of experience Seniority Monthly comp in US dollars
1 - 3 years Junior—Junior Advanced 800 - 2200
3 - 4 years Mid level 3000 - 4000
5 - 7 years Senior level 4800 - 6500
8+ years Tech Lead or Manager +7000

Learn more about full stack developer salary.


Salary ranges for a Functional QA Engineer

Years of experience Seniority Monthly comp in US dollars
1 - 3 years Junior / Junior Advanced 800 - 2000
3 - 4 years Mid level 2500 - 2800
4+ years Senior level +3200

If you would like more information like Full Stack Developer Salary or Front End Developer Salary, don't hesitate to contact us. We will gladly assist you in determining the appropriate compensation based on factors such as years of experience, technical skills, and the candidate's soft skills.

Compensation ranges & seniority for non-tech roles

Remote work has increased the demand for Customer Support, Executive Assistants, Marketing and Sales  related roles. These non tech talent salaries are determined by market rates and reflect the average compensation startups offer for non-tech positions.

Salary ranges for Digital Marketer

Years of experience Seniority Monthly comp in US dollars
3 - 4 years Mid level 2200 - 2500
4+ years Senior level +3000


Salary ranges for a Designer or UX/UI Developer

Years of experience Seniority Monthly comp in US dollars
3 - 4 years Mid level 2500 - 3000
4 - 6 years Senior level 4000 - 5000


Salary ranges for an Executive Assistant or Sales Administrator

Years of experience Seniority Monthly comp in US dollars
1 - 3 years Junior / Junior Advanced 1000 - 1300
3 - 4 years Mid level 2300 - 2500
5+ years Senior level +3500
Compensation packages include 100% remote work and 15 days paid vacation per year.

Most Popular Perks in LATAM

In order to fully engage developers from the region and attract top talent, it is crucial to provide them with enticing working perks that showcase your appreciation for their dedication and exceptional skills. Whether you choose to hire them as full-time employees or contractors, creating a positive working experience is key.

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Here are some of the most sought-after perks that developers in LATAM value:

1. Laptops: Equipping your developers with the latest technology not only enhances their productivity but also shows your commitment to providing them with the tools they need to excel in their work.

2. Compliance with Local Holidays: Recognizing and respecting the cultural traditions and holidays of your developers' local region can foster a sense of belonging and inclusivity. It allows them to celebrate important occasions with their loved ones without any work-related stress.

3. Flexible Hours: By implementing a flexible work schedule that is based on goals rather than strict hours, you empower your developers to manage their time effectively and achieve a healthy work-life balance. This flexibility can lead to increased productivity and job satisfaction.

4. Continuous Learning: Investing in your developers' professional growth by providing a budget for courses and training programs not only enhances their skills but also shows your commitment to their long-term career development. It allows them to stay updated with the latest technologies and industry trends.

5. Private Health and/or Dental Insurance: Prioritizing the well-being of your developers by offering private health and/or dental insurance coverage demonstrates that you care about their physical and mental health. This perk provides them with peace of mind and access to quality healthcare.

6. Personal Time Off (PTO): Acknowledging the importance of work-life balance and mental health, offering medical leave or paid sick days allows your developers to take care of themselves when they need it the most. This benefit shows your understanding and support during challenging times.

In addition to these popular perks, there are other enticing options you can consider, such as providing snacks, subscriptions to online resources, or access to co-working spaces. These additional perks can further enhance the overall working experience and contribute to a positive and motivated team atmosphere.


Why Hire in LATAM?

Whether you are a seasoned investor looking to tap into the region's exponential growth or a startup founder seeking inspiration and guidance, our insights serve as a compass, guiding you through the ever-evolving landscape of LATAM’s tech hub. 

The region is currently at the top of the growth rate for the number of talent hired by international companies. Almost 44% of LATAM developers work remotely for nearshore companies.

This growth rate is excellent news for developers because more can access higher compensations they wouldn't get offered working locally. LATAM developers getting hired by nearshore companies inspires other developers to improve their coding and soft skills, making LATAM's talent hub stronger, one job at a time.

Comp report mockup-2

Compensation for Tech Talent:
The 2024 Complete Guide

DONWLOAD NOW

Hiring with Awana

We match amazing companies with the right talent. 98% guaranteed.

There are no companies struggling with talent retention here. When our dedicated technical recruiters work with your team, we make sure your candidates:

  1. Fits the position
  2. Understands your product
  3. Aligns with your company’s culture

That's our recipe for success.
Our clients benefit from a safe investment, a reduced time-to-hire rate, and a 97% talent-retention rate, with professionals staying onboard after 1 year.

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