General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsVenezuela's horrible requirements for industrial workers' pay as I recall when I was there.
First you only got 11.5 months regular salary.
This is because you will get 1.5 months pay for vacation of 15 days and need that money to pay your bills plus go on vacation.
Then it is presumed you will come back flat broke, so you get Bono de Regreso, a small wad of cash to tide you over until the next quincena (15 day pay period).
You will also get 3 months pay for Aguinaldo which is paid out around Dec. 15th to buy toys and goodies. And if you work for a large corporation as I did you may get Bono de Caja, about $500 reward for always cashing those checks at the company payroll office, not wasting time going to long lines in banks.
Then you may get a Production Bonus if your company had good gains during the year.
As I was not a normal person (a real shocker I know) I also taught English to prospective management employees after hours and to avoid the 5 o'clock traffic jams. This was paid separate and apart by the company which helped them as they got a three to one return on my pay.
Note it also benefited me enormously because unlike the USA, Venezuela has its head properly screwed on and EXEMPTS Doctors, Dentists and Teachers from taxes as these professions are considered vital and honorable.
And that's not all. For every year you work there your employer must put aside money for both your Severance and Antiguedad. So if you work ten years you get 20 months pay at your highest quincena. Further, if you are CLAVE, as I was you get that doubled!
And I forgot the first time around: Company doctor and nurse on site!
That is how Venezuela distributed its money from the oil fields before the USA fucked them over.
AloeVera
(4,000 posts)Especially the part about valuing the helping professions.
The horrors of socialism, eh?
Thank you for this.
GreenWave
(12,367 posts)EarthFirst
(3,957 posts)EX500rider
(12,180 posts)8 million Venezuelan's didn't flee the country because they were paid too much...lol
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GreenWave
(12,367 posts)The USA trashed their oil industry and made them puppets. They have to ask Donnie for permission to extract their own light crude.
This was a slash and burn strategy prototypical of the Age of Imperialism.
EX500rider
(12,180 posts)
MichMan
(16,645 posts)GreenWave
(12,367 posts)Many have fallen for it, blaming all but the Colossus of the North.
MichMan
(16,645 posts)The International Monetary Fund projects a 548 percent figure for Venezuela for 2025 and 629 percent for 2026.
https://www.france24.com/en/live-news/20251114-return-to-bad-days-of-hyperinflation-looms-in-venezuela