Financial Planner Salary in Latvia: What You Need to Know
Financial Planners in Latvia earn an estimated $28,194 USD per year, which is approximately €25,938 EUR at current exchange rates. This places Latvia at #34 out of 42 countries in our global salary ranking for this occupation.
Compared to the United States, where Financial Planners earn an estimated $92,000 USD per year, the salary in Latvia is 69% lower. This difference reflects variations in local economies, cost of living, labor market conditions, and industry demand for Financial Planners in Latvia.
Purchasing Power and Cost of Living
While nominal salary figures provide a useful starting point, they don't tell the full story. When adjusted for purchasing power parity (PPP), the salary for a Financial Planner in Latvia is equivalent to $93,243 USD. This means that after accounting for differences in the cost of goods and services, the real buying power of this salary is actually higher than the nominal figure suggests, indicating a relatively lower cost of living in Latvia.
To put this in more tangible terms, using The Economist's Big Mac Index as an informal measure of purchasing power, a Financial Planner's annual salary in Latvia could buy approximately 6,050 Big Macs per year. This everyday comparison helps illustrate the real-world purchasing power of this salary beyond abstract currency conversions.
How Latvia Compares Globally
Among the 42 countries we track, a Financial Planner in Latvia earns more than 21% of Financial Planners worldwide. The highest-paying country for this role is United States at $80,960 USD, while the lowest is India at $8,994 USD.
These estimates are derived from publicly available data from the U.S. Bureau of Labor Statistics (BLS), OECD average wages, World Bank purchasing power parity factors, and The Economist's Big Mac Index. The salary for each country is calculated by adjusting the U.S. baseline salary using country-specific wage ratios and sector multipliers. While these figures provide a useful benchmark, actual salaries can vary significantly based on experience level, company size, specific city or region, education, and industry sector.