Armenia, a developing country in western Asia, built its economy on mineral extraction and industrial output. Armenia, located at the border, is a member of many regional organizations in Asia and Europe. The country ranks high on the Safety Index and has low crime levels.
Major economic hubs:
Yerevan, Gyumri, Vanadzor
Skills in demand:
Sales Consultants, Service Manager, Accountants, Administrative Staff
Top local universities in Armenia
Yerevan State University
Ranking
Local: 1
World: 3274
American University of Armenia
Ranking
Local: 2
World: 3551
Russian-Armenian University
Ranking
Local: 3
World: 5865
National Polytechnic University of Armenia
Ranking
Local: 4
World: 7268
Yerevan Brusov State University of Languages and Social Sciences
The following table mentions the average monthly salary of some common jobs in Armenia
Job Title
Average Monthly Salary (AMD)
Average Monthly Salary (USD)
Accountant
567,000
1,467
Accounting Manager
1,150,000
2,976
Financial Analyst
1,010,000
2,614
Sales Manager
1,330,000
3,442
Network Engineer
687,000
1,778
Office Manager
721,000
1,866
Employ in Armenia
Employing in Armenia
Armenia has well-established labor laws, generally favoring employees. Learn more about the various conditions and regulations in the following paragraphs for smooth and regulated employment in Armenia.
Employee Contract
It is legally required to have a written employment contract in the local language.
Probation Period
The probation period for newly hired employees in Armenia is one month.
Public and Provincial Holidays
Date
Name
January 1
New Year’s Day
January 2
New Year’s Day (Day 2)
January 6
Christmas Day
January 28
Army Day
March 8
International Women’s Day
April 24
Genocide Remembrance Day
May 1
Labor Day
May 9
Victory and Peace Day
May 28
Republic Day
July 5
Constitution Day
September 21
Independence Day
December 31
New Year’s Eve
Employee Leaves
Type of Leave
Time Period
Mandatory
Annual/Earned Leave
26 days
Yes
Sick Leave
5 days
Yes
Maternity Leave
140 days
Yes
Probation period
Leave compliance
Public and provincial holidays
Payroll in Armenia
Payroll cycle
Armenia follows a monthly payroll cycle, with payments made by the 15th of next month.
Minimum wage
Armenia’s minimum wage is 75,000 Armenian dram per month.
Overtime pay
Armenia does not allow overtime beyond 4 hours per every two days and is limited to 180 hours a year. Rates of compensation for overtime at various times are mentioned below:
Read more
How taxes work
Employer Payroll Tax
There is zero percentage of employer contribution in Armenia.
Employee Payroll Tax
Payroll Item
Contribution
Pension fund (if monthly gross income less than 500,000 AMD)
5%
Pension fund (if monthly gross income above 500,000 AMD)
10%
Employee Income Tax
Income tax is followed at a flat rate of 20%.
VAT
The standard VAT rate is 20%.
Bonus
13th Month Pay:
The 13th month pay is not mandatory or customary in Armenia.
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