Looking to learn about software engineer salaries in Latin America? You're in luck, as we've compiled a guide to help you understand the compensation for software engineers’ jobs in different countries in the region.
There are many factors that influence a software developer's salary in LATAM. Specific location, experience, and tech skills are all important factors to keep in mind. We'll take a look at the average software engineer remote salary in Latin American countries, as well as provide a few statistics from our latest Tech Salaries & Benefits Trends Report on the most valuable and paid tech skills. This guide will help you understand the different salary ranges that tech companies can expect to offer in LATAM.
When a company decides what salary to set up for a remote software developer position, it is essential to understand that the average engineer’s income depends on several factors –skillset, experience, candidate’s location, and what hiring model the company is willing to use when looking for new team members. In this section, let’s explore how different factors influence the median wage.
Companies that look for remote software developers expect candidates to have strong tech skills, especially regarding the most in-demand programming languages –Python, JavaScript, Java, PHP, among others. Candidates with an advanced understanding of the needed technology stacks are more likely to accept offers from companies that offer better conditions. Our experts recommend checking the market and comparing salaries and benefits for the most in-demand skills you need in order to set adequate compensation. To get a good sense of salary expectations by specific tech role, see our latest report!
Another thing to keep in mind is that the average software engineer remote salary highly depends on how many years the candidate has dedicated to software development and how well they know the technology they work with.
There are several positions a remote software developer can perform, depending on their experience level: junior, semi-senior, and senior.
Apart from the needed skills and candidate’s experience, it is also essential to decide on what hiring model you consider the best for your project or business.
There are three types of hiring models that companies use when looking for software developers: in-house, software outsourcing, and hiring freelance on a per-project basis.
It is well-known that living costs influence the average salary. For example, in Latin American countries, the expected software engineer remote salary varies from USD $72,000 to USD $114,000. While in the U.S., the average expected salary hovers at USD $173,000. Another factor to keep in mind is that LATAM salaries vary depending on the country in which you're hiring. For instance, developers in Brazil and the same developers in Colombia will have different earnings in the same roles.
Taking into consideration everything that was explored in this guide, you should consider not only the specific tech stack and skills you’re looking for, but also other factors that depend on the average developer's salary: experience, location, and hiring model. It will help you find and hire the best match for your needs.
There are several reasons why Latin America is an attractive destination for companies from the U.S. Some of the most advantageous benefits are overlapping time zones, cultural similarities, and an advanced English level, which means communication between teams is smooth and collaboration seamless. Often, U.S. companies also choose to hire developers from Latin America due to the average software engineer remote salary in the region. So, let’s dive deeper into the details of this outsource destination.
Let’s look closer at what senior, specialized engineers can expect from the company depending on their tech role in Latin America.
After having discussed the most in-demand skills in the region, it is good to point out what tech companies are ready to provide for the potential candidates to attract and hire top-tier remote software developers.
From the statistics below, we can clearly see how the pandemic has influenced the tech market. About 97% of companies now provide 100% remote work.
Another benefit that 100% of companies provide is paid time off and vacations. Moreover, 84% of businesses point out that candidates will have the possibility of career growth on their teams.
53% offer company-wide retreats to keep each team member feeling valuable, discuss issues they have, and provide ideas on how to solve them. Career support is another popular bonus that about 41% of companies give to their remote team members.
Source: 2023 Tech Salaries and Benefits Trends: Q4 Report
While finding the right remote software developer for your specific IT needs can be challenging, there are some key things to keep in mind that will ease the search. For example, it's essential to consider your company's specific project needs, the skills needed, and the pay you are willing to offer.
Remember that software engineers’ remote salary varies depending on their location, experience, and more., so it's essential to do your research.
At Nexton, remote recruiting is our bread and butter. Learn more about how we can help you boost your teams with top-level tech talent. And don’t forget to check out our new Tech Salaries & Benefits Trends Report!