The salary structure in Libya for 2024 is designed to accommodate a variety of factors, including location, industry, and experience level. This article provides a comprehensive overview of the Average Salary in Libya to 2024, highlighting the compensation landscape.
The Libyan Dinar used to pay salaries in Libya is known as LYD, and the currency symbol is LD, ل.د. By considering these key elements, individuals can gain a better understanding of the dynamic job market in Libya and make more informed decisions regarding their career and financial planning.
Salary in Libya by Year and Month
We’ve recently conducted surveys in Libya, and the valuable findings are conveniently presented in the table below. This data encompasses both monthly and annual salary information, offering you a comprehensive view of income trends in the region. Explore the details and gain insights into the economic landscape of Libya based on our survey results
| Annual Salary | Lowest 6,760 LYD | Average 28,180 LYD | Maximum 123,400 LYD |
|---|
In the table above, we’ve meticulously outlined the annual salary statistics for Libya, offering a comprehensive view of income trends. Similarly, for a more detailed perspective on monthly earnings, we’ve provided a breakdown below. This dual presentation allows you to grasp both the bigger picture and the finer nuances of income structures in Libya, aiding your understanding of this dynamic economic landscape.
| Monthly Salary | Lowest 563 LYD | Average 2,348 LYD | Maximum 10,283 LYD |
|---|
Comparison of Salaries in Libya Cities
As depicted in the preceding tables, we’ve analyzed the contrast between annual and monthly salaries in Libya. We now present a city-specific salary comparison, illustrating the diversity in compensation across the country. It’s important to note that these figures represent average salaries, and actual earnings may vary depending on factors such as location, experience, and job role.
| City Names | Average Salary (by month in 2024) |
|---|---|
| Tripoli | 7,200 LYD |
| Benghazi | 3,900 LYD |
| Ajdābiyā | 7,200 LYD |
| Mişrātah | 9,800 LYD |
| Al Bayḑā’ | 8,200 LYD |
| Al Khums | 6,000 LYD |
| Az Zāwīyah | 6,500 LYD |
| Gharyān | 9,700 LYD |
| Al Marj | 7,600 LYD |
| Tobruk | 5,500 LYD |
| Darnah | 5,400 LYD |
| Sabhā | 5,300 LYD |
| Şabrātah | 4,200 LYD |
| Al Jumayl | 5,800 LYD |
| Janzūr | 5,500 LYD |
| Zuwārah | 5,900 LYD |
| Masallātah | 4,800 LYD |
| Sort | 4,700 LYD |
| Yafran | 4,600 LYD |
| Nālūt | 4,500 LYD |
| Banī Walīd | 4,400 LYD |
| Tājūrā’ | 3,300 LYD |
| Birāk | 3,200 LYD |
| Shaḩḩāt | 3,100 LYD |
| Murzuq | 3,000 LYD |
| Awbārī | 2,971 LYD |
| Qaşr al Qarabūllī | 2,935 LYD |
| Waddān | 2,843 LYD |
| Al Jawf | 2,743 LYD |
| Al ‘Azīzīyah | 2,675 LYD |
| Ghāt | 2,543 LYD |
| Hūn | 2,412 LYD |
| Idrī | 2,348 LYD |
Salary Overview – Median, Max, Min Wage, Starting, and Ranges
In this informative section, we will delve into the percentage of individuals earning high and low salaries. Additionally, we will provide insights into starting, median, and maximum salary levels, offering a comprehensive understanding of income trends and their underlying factors.
- Minimum Salary in Libya
As mentioned earlier, salary in Libya often depends on experience. The minimum and starting monthly salary in Libya is 563 LYD, with variations based on one’s experience level. Notably, 21% of Libya’s population earns a basic salary of 563 LYD per month, which includes most of the labor.
- Average Salary in Libya
As previously discussed, salaries in Libya exhibit variations in line with experience. The median/average monthly salary in Libya stands at 2,348 LYD, with a quarter of the population, approximately 25%, earning this figure.
This median wage serves as a crucial benchmark for salary comparisons, considering the diverse experience levels within the workforce.
- Maximum Salary in Libya
Continuing our exploration of salary dynamics in Libya, we turn to maximum earnings. The maximum monthly salary in Libya reaches 10,283 LYD including employees of some famous private companies and government officials.
Specifically, about 54% of the population falls within this range. Understanding this upper limit provides valuable insight into the earning potential of a significant portion of the workforce in Libya.
Salary Comparison by Experience in Libya
Securing a competitive salary in any sector or organization hinges on valuable work experience, and Libya is no exception. In Libya’s employment landscape, individuals without prior experience typically receive the minimum wage. However, those with 1 to 5 years of experience enjoy an 11% pay increase, while those with 6 to 10 years see an 18% boost in earnings.
For professionals boasting 11 to 20 years of experience, the premium extends to 23%, and those with over 21 years of expertise are rewarded with a substantial 30% salary enhancement. This structured approach to compensation demonstrates Libya’s recognition of the significance of experience in determining wages.
| Experience Year | Increase in income |
|---|---|
| 0 Years Experience | lowest Income |
| 1-5 years of experience | 11% Boosted |
| 6-10 years of experience | 18% Boosted |
| 11-20 years of experience | 23% Boosted |
| More than 21 years of experience | 30% Boosted |
Salary Comparison by Education in Libya
In examining the correlation between education levels and income in Libya, a clear pattern emerges. The data reveals that educational qualifications play a pivotal role in determining salary scales:
- Illiterate Salary in Libya
This group typically receives the Lowest salary, with no significant income increase associated with education.
- High School Graduates Salary in Libya
Those who completed high school outperform the illiterate population, enjoying a notable 17% salary increase.
- Certificate or Diploma Holders Salary in Libya
Individuals with a certificate or diploma go a step further, securing a substantial 24% higher income compared to high school graduates.
- Bachelor’s Degree Holders Salary in Libya
Pursuing a Bachelor’s Degree significantly enhances earning potential, as these professionals make 29% more than those with a certificate or diploma.
- Ph.D. Holders Salary in Libya
While those with a Bachelor’s Degree experience impressive earnings, those who have earned a Ph.D. receive a noteworthy 21% boost in income compared to Bachelor’s Degree holders. This data underscores the substantial impact of education on income levels in Libya.
Salary Comparison By Gender in Libya
| Experience Year | Increase in income |
|---|---|
| Male | 9% more than Females |
| Female | 9% less than men |
Men generally earn 9% more than women, which shows that Males earn more than Females. Conversely, Females earn 9% less than males in Libya. These disparities underscore ongoing challenges in achieving gender wage equality. Addressing these gaps is crucial for creating a fair and equitable work environment that values the contributions of both males and females, ensuring equal opportunities and rewards for all.
Salary Comparison By Professions in Libya
In Libya, a diverse array of professions flourish, each offering unique opportunities and salary structures. Understanding the monthly earnings associated with these occupations can be extremely helpful for individuals seeking employment or considering a career change in this dynamic and growing economy.
Below are some of the Libya professions and their salaries:
| Profession | Salary (by month in 2024) |
|---|---|
| Doctors | 4,300 LYD |
| Engineers | 5,530 LYD |
| IT Professionals | 8,400 LYD |
| Investment Bankers | 6,600 LYD |
| Pilots | 3,300 LYD |
| Management Consultants | 5,450 LYD |
| Lawyers | 4,270 LYD |
| Dentists | 5,100 LYD |
| Pharmacists | 6,100 LYD |
| Labor | 680 LYD |
| Accountant | 4,200 LYD |
| Architect | 6,430 LYD |
| Barber | 870 LYD |
| Chef | 970 LYD |
| Electrician | 9500 LYD |
| Fashion Designer | 1,210 LYD |
| Financial Analyst | 4,216 LYD |
| Firefighter | 1,300 LYD |
| Graphic Designer | 2,800 LYD |
| Human Resources Manager | 1,110 LYD |
| Journalist | 2,900 LYD |
| Judge | 10,500 LYD |
| Marketing Manager | 2,300 LYD |
| Nurse | 3,100 LYD |
| Occupational Therapist | 9,540 LYD |
| Painter | 1,000 LYD |
| Police Officer | 3,800 LYD |
| Real Estate Agent | 4,208 LYD |
| School Teacher | 3,476 LYD |
| Technical Writer | 2,160 LYD |
Bonuses on Salary in Libya
Several types of bonuses are considered in employment:
- Individual Performance-Based Bonuses: Employees receive rewards based on their exceptional performance.
- Company Performance Bonuses: Some companies share excess earnings and profits with all staff as collective bonuses, varying by role.
- Goal-Based Bonuses: Given upon achieving significant goals or milestones.
- Holiday / End of Year Bonuses: These are appreciation tokens offered without specific reasons or occasions.
FAQs
The average hourly wage in Libya stands at 42.84 LYD, offering a competitive earning potential. Meanwhile, the minimum hourly wage is set at 2.34 LYD, ensuring a baseline income for those entering the job market or holding lower-paying positions. These figures outline the spectrum of hourly earnings in Libya.
There exists an approximately 7% salary disparity between government and private sector employment in Libya. Government employees enjoy a 7% salary advantage and additional benefits such as housing and car allowances. This discrepancy reflects the variations in compensation packages and perks often extended to those in public service roles in Libya.
In 2024, there are various costs of living in Libya some of which are mentioned below:
1) Monthly rent for accommodation ranges from 200 LYD to 1,000 LYD.
2) Grocery expenses range from LYD 350 to LYD 900 for an individual or a family of four.
3) Meals cost between LYD 100 to LYD 400 + per person.
4) Transportation includes a monthly pass of 100 LYD-1,450 LYD and a taxi ride of 10-120 LYD.
5) Utilities can total LYD 100-1,500 per month, phone bills LYD 100-2,000, gym memberships LYD 20-80, and movie tickets LYD 5-40 per person.
Libya offers relatively cheap living, yet careful budgeting is advised, as individual circumstances can make a difference in costs.