Disclaimer: This article is not a substitute for legal nor accounting advice. Look for professional advice before you take action.
Within the last few years, we have seen the Latin American region become a leader in technology services and talent. And as demand for top talent increases and the dream of becoming a digital nomad is realized throughout the world, more senior software engineers are taking the opportunity to secure high-earning remote jobs.
We conducted a survey that looks into how compensation is affected and by which factors across Latin America. We also looked at variables such as skills, seniority, and job responsibilities. Here's what we found regarding the salaries for remote jobs in Brazil.
Average Salary for Remote Workers in LATAM
We surveyed 1,314 of the top developers LATAM has to offer. Each person had to meet the parameters set forth to capture the most accurate representation of the skilled population. This included their monthly compensation as a full-time remote contractor which was optional in disclosing.
Latin American salaries for remote jobs are between 60 thousand USD and 97 thousand USD. That may seem like a large gap, but again the wages within the IT industry greatly depend on your experience, capabilities, what positions you take, and market demand.
For example, senior software engineers will make more than a freshman-level project manager. Even still, the opportunity to earn a higher competitive salary and live where the cost of living is low provides excellent value and appeal to many.
Median Annual Salary for Senior Programmers in Brazil
A senior software engineer's median annual salary working remotely from Brazil for a US company is roughly 84 thousand USD. Working in a country with lower living costs makes a salary of that size go much further than if you lived in more expensive LATAM countries such as Chile or Brazil's neighbor, Uruguay.
Although not one of the cheapest options for digital nomads, it's certainly possible to live affordably in Brazil. For those working for a Brazilian IT company, our survey found about a 15% gap in what is expected (US wage/industry wage) vs. what engineers are currently receiving.
This is in part because companies haven't been able to keep up with the pace at which the demand for higher compensation is being requested. In turn, the job market is becoming more competitive. Companies are now seeking higher-skilled professionals from around the world.
However, the growth within the IT industry and the demand to work from the comfort of our home have increased salaries across the industry, narrowing the gap in salary expectation. For example, Full-Stack, Back-End, and Front-End roles are seeing greater demand, therefore an increase in salaries.
Benefits Offered Among Employers
For many software developers in LATAM, the pandemic brought a great opportunity; earning a competitive salary based on skills and merit instead of earnings based on location.
As programmers can do their job no matter where they are located, provided great internet connection, it only makes sense that compensation adjusts accordingly. Now remote jobs within the IT industry are sought after and are a standard offering for many employers.
Not only are higher salaries being offered, but additional benefits such as paid time off, stock option plans, company-provided equipment and even cryptocurrencies, are more readily available to independent contractors.
Why is Hiring Software Developers in Brazil Becoming More and More Popular?
Brazil has become a stand-out country for software development companies looking to expand their teams through outsourcing or remote work. In this way, it opens up the market to find more experienced software developers.
Not only is there a growth of available tech talent in Brazil, but they’re seeing growth in the demand for their technology services. Even Google has an office in Sao Paulo, Brazil, and looks to increase local job and education opportunities.
Brazil is also home to stable internet infrastructure and can offer exceptional IT services at reasonable price points. Nearshoring between US companies and Brazil has seen success as the time difference is compatible and allows for a few hours of overlap for synchronous work every day. Moreover, those that work as tech professionals are knowledgeable and innovative in their field of expertise.
The Future of Remote Salaries
As the demand for more talented, skilled, and resourceful engineers increases in Brazil and across LATAM, so does the desire to be compensated competitively and fairly. The pandemic largely drove the increase in demand, and the world had to adjust how the workforce was structured and operated to meet that demand.
Although obtaining a higher wage is still essential to many independent workers, employees are looking for companies who value their time, as time has become even more critical in the scope of these unprecedented moments.
Ready to Increase Your Earnings?
Here at Nexton, we help senior software engineers and other technical talents in Latin America secure their dream job and attain a work-life balance by pairing them with purposeful startups that provide long-term employment and benefits for remote contractors.
It doesn't matter if you are in Brazil, Chile, or anywhere in LATAM; we take the time to understand your skills and experiences to connect you with a US company that's the right fit for your career aspirations. During this time of great industry demand, let us help you win your next career opportunity!