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How many people earn a minimum wage in Colombia?

According to figures from the Organization for Economic Cooperation and Development (OECD), only 22% of people, between 25 and 64 years old, in Colombia have a university degree. Many of the workers in the country have no studies or have simply finished high school, so many of them did not earn even half of a minimum wage last year, that is, about 400 thousand pesos.

How many people earn a minimum wage in Colombia

The DANE in its figures showed that half of Colombian employees, that is, 10.2 million people out of 20.1 million who represent the labor force in the country in 2020, earned last year incomes equivalent to a minimum wage or less.

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Of these 20.1 million people, 6.1 milliondid not receive even half of a minimum wage, that is, they earned less than 438,900 pesos each month. 4.1 million workers earned between a minimum and a minimum, which last year was 877,803 pesos. Only 4.1 million people who worked last year were able to access more than one minimum wage in Colombia.

At this point people question whetherstudying will increase job opportunities and monthly income.

Ariel Alonso Vega, specialist in Higher Education management and general manager of the FUCS, assures that a person who finishes his higher education studies at the technical level can earn up to 12% more than a bachelor and up to 46% if he finishes the professional level. This shows animportance in the academic preparation of future workers.

“Preparing and increasing schooling is a guarantee of improving the quality of life of every Colombian and increases the country’s possibilities,” added the expert.

The DANE showed that 46% of people who did not study anything did not earn even half a minimum wagelast year. That’s why the expert gives advice to young people to find motivating goals and objectives.

“Let them fulfill their dreams by finding the alternatives and opportunities that youth gives them. That if they opt for entrepreneurship or the development of activities as employees, they always seek to preparethemselves and in this way have greater tools to succeed, “concluded Vega.

In the country, 84% of university employees had the possibility of earning more than one minimum wage and morelast year.

It should be noted that a World Bank study showed that technical higher education programs can be an effective tool in times of crisis such as the current covid-19 pandemic. What becomes a good alternative for people who want to start their studies and acquire new skills to improve their working life.

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Tips & Tricks

40% of people who work in technology suffer from a chronic level of stress

According to the Burnout Index 2021, recognized as the largest scientific assessment of the state of stress and job burnout of IT teams, 40% of people who work in technology have Burnout Syndrome: they suffer from a chronic level of stress and mental, emotional, and physical exhaustion. According to the report, 4 in 10 professionals in this industry are at high risk of developing burnout at work and 1 in 5 plan to quit their job in the next 6 months due to lack of psychological well-being.

40% of people who work in technology suffer from a chronic level of stress

Likewise, women who work in this industry have a higher risk of developing burnout than men. 70% today feel exhausted and without physical and emotional energy after a working day, compared to 56% of men. To develop the study, 32,644 responses from IT professionals in 33 countries were collected and analyzed between January and November.
 
In simple words, job burnout is the culmination of chronic and prolonged stress at work. Several factors increase the risk of suffering from this syndrome, such as excessive work, constant work against the clock and loneliness (which increased during the pandemic); furthermore, remote computers that don’t often go offline may be at greater risk. Although all these elements are common in the technology industry, the presence of burnout has not been well documented so far.

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That’s why Erbo created a simple, free tool called the Burnout Index to help people understand their level of burnout risk, aggregating the largest data set of its kind ever seen. The report acts as a calculator that measures the degree to which the anonymous participant feels: exhausted, inefficient, dishonest, or experiencing depersonalization. These are the four dimensions that are scientifically linked to burnout and each one corresponds to a score, resulting in a “low”, “moderate” or “high” risk. 

To highlight, between January and November 2021, the Burnout Index collected 32,644 responses from IT professionals in 33 countries. Early results from the study, which is still ongoing, point to a burnout crisis in the tech industry. It concludes that 40% of the employees in this industry who participated in the sample are experiencing a high risk of burnout.