The average monthly salary in the Philippines in 2024 is 44,800 PHP ($794 per month). This equates to 537,000 PHP on an annual basis, or $9,528 per year, according to the exchange rate in February 2024.
This article will dive into the salary landscape in the Philippines in 2024. The average salary varies according to demographics, so factors such as religion, education, profession, gender, and age will also be covered.
The data has been sourced from OECD, Statista, and Willis Towers Watson (WTW). All salary figures measure gross pay as opposed to take-home pay.
Key highlights:
- The average salary in the Philippines is around 94% lower than in the United States.
- The mean monthly salary in the Philippines is $794 per month, while the median monthly salary is $368 per month.
- The highest-paid industries in the Philippines include construction, manufacturing, and tourism.
- The lowest-paid industries in the Philippines include food services, finance, and scientific research.
- There is limited data on demographic differences when it comes to measuring average salaries in the Philippines.
The average salary in the Philippines in 2024
The average annual salary in the Philippines for 2024 is projected to be $9,528 per year, working on an average monthly salary of $794 per month. Like many other countries around the world, the Philippines has an average working week of 40 hours — as a result, the average hourly wage in the Philippines works out to $2.11.
Salaries in the Philippines are rising steadily. WTW reported that salaries are expected to grow by 5.7% for the second year running, indicating a healthy job market with plenty of demand.
Salaries can vary greatly in the Philippines according to the profession, with jobs in the construction, manufacturing, and tourism sectors being among the highest paid, many of which break the 5-figure salary mark. Professions that are towards the low end of the income spectrum are food services, finance, and science.
Data: OECD & Statista
Median salary
Calculating average salaries can be done in several ways. The above figures are calculated as the mean of all salaries out of a given sample, but this may not tell the whole story. Anomalous results, such as particularly high earners, can skew the mean upwards.
As a result, the median salary may be a more accurate indication of what the average worker earns in the Philippines. The median is the middle point from a sample of data, so it cannot be diluted by the extremes.
Statista reported that the median monthly salary in the Philippines was 18,423 PHP in 2022. Based on WTW’s projection of a 5.7% increase for the second year running, this would mean that the median monthly salary in the Philippines has now grown to 20,583 PHP.
Converted to US Dollars, the median annual salary in the Philippines is $4,416.
Data: Statista, measuring Philippine Pesos per month (PHP/month)
Minimum wage
Minimum wage workers in the Philippines can expect to earn 610 PHP per day, which is 76.25 PHP per hour. Converted into USD, this works out to $10.91 per day or $1.36 per hour.
As reported by Take Profit Org, average minimum wages are rising in the Philippines. After a period of relative stagnation between 2019 and 2021, the average minimum wage climbed +13.6% between 2021 and 2023.
Data: Take-Profit Org, measuring Philippine Pesos per day (PHP/day)
Average salary by profession
Average salaries can vary greatly by profession in the Philippines. Here is a breakdown of the average salary by profession in the country:
| Profession | Average Annual Salary (PHP) | Average Annual Salary (USD) |
|---|---|---|
| Accounting, Administration & Human Resources | PHP 437,075 | $7,814 |
| Architecture & Creative Arts | PHP 410,000 | $7,330 |
| Banking, Finance & Insurance | PHP 403,033 | $7,205 |
| Childcare & Education | PHP 417,784 | $7,469 |
| Construction & Maintenance | PHP 803,002 | $14,356 |
| Engineering | PHP 402,000 | $7,187 |
| Food Services | PHP 634,520 | $7,288 |
| Healthcare, Pharmaceutical & Social Services | PHP 407,680 | $7,288 |
| Hospitality & Travel | PHP 593,620 | $10,613 |
| Information Technology | PHP 515,868 | $9,223 |
| Journalism & Translation | PHP 495,000 | $8,850 |
| Law Enforcement & Security | PHP 415,000 | $7,419 |
| Legal | PHP 540,000 | $9,654 |
| Marketing & Sales | PHP 468,056 | $8,368 |
| Retail, Cosmetics & Customer Service | PHP 537,870 | $9,616 |
| Science | PHP 395,000 | $7,062 |
| Shipping, Manufacturing & Transportation | PHP 713,589 | $12,758 |
Data: talent.com
According to the report, shipping, manufacturing, transportation, construction, and maintenance are the highest-earning industries in the Philippines.
Most industries have a fairly similar average salary, which may reflect demographics, education, or other key variables that could contribute towards a person’s earnings. It may also reflect the economics of the country, indicating which industries are most favored at this moment in time.
There is limited data about the demographic differences with regard to average salaries in the Philippines. However, analyzing differences between professions highlights a focus on tourism as a key driver of the country’s GDP. This is reflected by workers in hospitality, travel, and retail services being paid more than those in law enforcement, finance, and engineering in 2023.
The bottom line
Average salaries in the Philippines are significantly lower than the average salaries in developed nations. Equalizing the figures across exchange rates, the average person in the Philippines earns around 94% less than the average person in the United States.
The Philippines is actively aiming to stimulate growth in its GDP through several fresh tourism initiatives. This has caused average salaries in the country to be higher in tourism than in other key sectors, reflecting foreign cash injections that come as a result of more visitors.
To learn more about the average salary in other countries around the world, check our article on the average salary in Japan in 2024.
Source: https://coincodex.com/article/37906/average-salary-in-philippines/