Average Diamond Setter Salary in Colombia for 2024

In this article, we will look at the average Diamond Setter salary for 2024 in Colombia and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Colombian peso. To keep things simple, we are using the COP currency code instead of the currency symbol $.

How Much Does a Diamond Setter Make in Colombia?

A Diamond Setter working in Colombia will typically earn around 26,399,200 COP per year, and this can range from the lowest average salary of about 14,038,300 COP to the highest average salary of 40,199,100 COP.

Average Annual Salary
26,399,200 COP
Average Monthly Salary
2,199,933 COP

Lowest Annual Salary
14,038,300 COP
Lowest Monthly Salary
1,169,858 COP

Highest Annual Salary
40,199,100 COP
Highest Monthly Salary
3,349,925 COP

These are average salaries for a Diamond Setter in Colombia and include benefits such as housing and transport. It's also possible for a Diamond Setter to earn more or less than the average salaries shown above.

Diamond Setter salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Diamond Setter Salaries in Colombia

So we've looked at the average salaries a Diamond Setter will earn in Colombia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Diamond Setter can earn between 14,038,300 COP and 40,199,100 COP on average in Colombia. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Diamond Setter in Colombia is 24,841,800 COP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 24,841,800 COP, and 50% of the population earn more than 24,841,800 COP.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Diamond Setter salary in Colombia, 25% of the population are earning less than 17,519,700 COP while 75% of the population earn more than 17,519,700 COP.

75% of the population earn less than 30,479,000 COP, and 25% of the population earn more than 30,479,000 COP.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Diamond Setter Salary by Experience Level in Colombia

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average diamond setter salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Diamond Setter in Colombia that has less than two years of experience can expect to earn somewhere in the region of 16,079,800 COP.
  • 2 - 5 Years Experience. With two to five years of experience the average Diamond Setter salary would increase to 19,799,400 COP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Diamond Setter, the average salary would be 27,960,400 COP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 32,639,300 COP.
  • 15 - 20 Years Experience. A Diamond Setter with 15 to 20 years of experience can earn an average of 36,001,200 COP.
  • 20+ Years Experience. For a Diamond Setter with more than 20 years, the expected average salary increases to 38,039,000 COP.

Average Salary by Experience Chart

0-2 Years
16,079,800 COP
2-5 Years +23%
19,799,400 COP
5-10 Years +42%
27,960,400 COP
10-15 Years +17%
32,639,300 COP
15-20 Years +10%
36,001,200 COP
20+ Years +6%
38,039,000 COP

Diamond Setter Salary by Education Level in Colombia

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Diamond Setter in Colombia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Diamond Setter in Colombia with a high school education can earn an average salary of 21,361,700 COP.

  • Certificate or Diploma. A Diamond Setter in Colombia with a certificate or diploma education can earn an average salary of 34,441,600 COP.

Average Salary by Education Chart

High School
21,361,700 COP
Certificate or Diploma +61%
34,441,600 COP

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Colombia is around 23,500,000 to 70,400,000 COP and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Diamond Setter Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Colombia, a male diamond setter will earn an average of 24,599,500 COP, while a female diamond setter will earn around 27,601,100 COP.

This means that a male diamond setter earns approximately 11% less than a female diamond setter for performing the same job.

Average Salary by Gender Chart in Colombia

Male
24,599,500 COP
Female +11%
27,601,100 COP

Diamond Setter Average Pay Raise in Colombia

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Diamond Setter in Colombia is around 8% every 19 months.

The national average pay raise across all professions and industries in Colombia is around 7% every 19 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 19 ) × 12  = 5%

What this means is that a Diamond Setter in Colombia can expect to receive an average pay raise of around 5% every 12 months.

Annual Pay Raise by Industry in Colombia for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Colombia.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Diamond Setter Bonus and Incentive Rates in Colombia

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Diamond Setter is a low bonus based job, with 23% of employees reporting at least one bonus in the last 12 months.

77% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 1% to 3%.

Received Bonus
23%
No Bonus
77%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Colombia earn approximately 11% more than private sector employees in the same role.

Public Sector
58,559,300 COP
Private Sector -11%
52,800,100 COP

Salaries for Jobs Similar to a Diamond Setter

In the table below, we have salary information for jobs that are similar to a Diamond Setter in Colombia.

Job Title Category Salary
Alterations Specialist Fashion and Apparel 22,198,500 COP
Barber Fashion and Apparel 22,198,500 COP
Bench Jeweler Fashion and Apparel 19,558,300 COP
Clothing and Textile Technologist Fashion and Apparel 47,999,400 COP
Cosmetology Educator Fashion and Apparel 54,000,800 COP
Diamond Worker Fashion and Apparel 29,519,900 COP
Fabric Manager Fashion and Apparel 59,158,300 COP
Fashion Design Manager Fashion and Apparel 89,398,800 COP
Fashion Designer Fashion and Apparel 76,560,700 COP
Fashion Merchandiser Fashion and Apparel 36,001,200 COP
Fashion Model Fashion and Apparel 50,158,700 COP
Freelance Fashion Stylist Fashion and Apparel 87,481,900 COP
Garment Technologist Fashion and Apparel 44,398,300 COP
Hairstylist Fashion and Apparel 26,040,800 COP
Jeweler Fashion and Apparel 41,520,800 COP
Jewelry Mold Maker Fashion and Apparel 31,678,800 COP
Jewelry Polisher Fashion and Apparel 19,200,400 COP
Jewelry Sales Fashion and Apparel 35,521,100 COP
Plating Manager Fashion and Apparel 60,598,100 COP
Product Development Manager Fashion and Apparel 96,600,100 COP
Sewing Machine Operator Fashion and Apparel 16,439,200 COP
Shoe Sales Fashion and Apparel 27,118,300 COP
Supply Chain Manager Fashion and Apparel 95,399,800 COP
Tailor / Fitter Fashion and Apparel 23,280,700 COP
Trend Forecaster Fashion and Apparel 54,118,500 COP
Visual Merchandising Coordinator Fashion and Apparel 39,481,900 COP
Visual Merchandising Projects Manager Fashion and Apparel 76,439,700 COP

Salary Comparison by City

If you want to compare salaries with different cities in Colombia, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Barranquilla 25,801,200 COP
Bello 24,599,500 COP
Bogota 29,041,200 COP
Bucaramanga 24,478,500 COP
Buenaventura 23,040,200 COP
Cartagena 26,520,600 COP
Cucuta 27,241,100 COP
Ibague 24,958,800 COP
Manizales 23,399,000 COP
Medellin 27,001,700 COP
Monteria 24,841,800 COP
Neiva 22,441,700 COP
Pereira 24,119,700 COP
Santa Marta 25,679,100 COP
Soacha 25,801,200 COP
Soledad 27,118,300 COP
Valledupar 23,759,100 COP
Villavicencio 24,359,000 COP

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Diamond Setter Salary in Colombia for 2024". World Salaries. Accessed on March 29, 2024. https://worldsalaries.com/average-diamond-setter-salary-in-colombia/.

  • "Average Diamond Setter Salary in Colombia for 2024". World Salaries, https://worldsalaries.com/average-diamond-setter-salary-in-colombia/. Accessed 29 March, 2024

  • Average Diamond Setter Salary in Colombia for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-diamond-setter-salary-in-colombia/.