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Real Estate Average Salaries in Jamaica 2020

How much money does a person working in Real Estate make in Jamaica?


Average Monthly Salary
214,000 JMD
( 2,570,000 JMD yearly)

LOW
117,000
JMD
AVERAGE
214,000
JMD
HIGH
335,000
JMD

A person working in Real Estate in Jamaica typically earns around 214,000 JMD per month. Salaries range from 117,000 JMD (lowest average) to 335,000 JMD (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Real Estate careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Acquisition Associate166,000 JMD
Assistant Leasing Manager218,000 JMD
Assistant Property Manager215,000 JMD
Brokerage192,000 JMD
Commercial Leasing Manager312,000 JMD
Commercial Real Estate Manager326,000 JMD
Community Development Manager277,000 JMD
Compliance Specialist188,000 JMD
Development Coordinator169,000 JMD
Lease Administrator203,000 JMD
Leasing Agent182,000 JMD
Leasing Consultant211,000 JMD
Leasing Manager223,000 JMD
Lettings Assistant125,000 JMD
Portfolio Analyst 258,000 JMD
Portfolio Manager289,000 JMD
Property Acquisition Agent196,000 JMD
Property and Claims Specialist195,000 JMD
Property Manager241,000 JMD
Property Operations Manager286,000 JMD
Property Tax Assistant160,000 JMD
Real Estate Administrator193,000 JMD
Real Estate Agent167,000 JMD
Real Estate Analyst229,000 JMD
Real Estate Appraiser248,000 JMD
Real Estate Assistant168,000 JMD
Real Estate Association Manager232,000 JMD
Real Estate Broker183,000 JMD
Real Estate General Manager312,000 JMD
Real Estate Project Manager257,000 JMD
Real Estate Sales Agent177,000 JMD
Real Estate Valuer223,000 JMD
Research Analyst183,000 JMD
Residential Advisor195,000 JMD
Residential Property Manager234,000 JMD
Shopping Center Manager307,000 JMD
Town Planner328,000 JMD

Real Estate Jobs Salary Distribution in Jamaica

Median and salary distribution monthly Jamaica Real Estate
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The median, the maximum, the minimum, and the range

  • Salary Range

    Real Estate salaries in Jamaica range from 117,000 JMD per month (minimum average salary) to 335,000 JMD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 222,000 JMD per month, which means that half (50%) of people working in Real Estate are earning less than 222,000 JMD while the other half are earning more than 222,000 JMD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Real Estate are earning less than 153,000 JMD while 75% of them are earning more than 153,000 JMD. Also from the diagram, 75% of people working in Real Estate are earning less than 290,000 JMD while 25% are earning more than 290,000 JMD.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Jamaica costs anywhere from 972,000 Jamaican Dollar(s) to 2,910,000 Jamaican Dollar(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Real Estate Salary Comparison By Gender

Salary comparison by gender monthly Jamaica Real Estate
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees earn 7% more than their female counterparts.

Female
209,000 JMD
Male+7%
223,000 JMD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Jamaica for all Careers

Salary comparison by gender monthly Jamaica
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Real Estate Average Annual Salary Increment Percentage in Jamaica

How much are annual salary increments in Jamaica for Real Estate professionals? How often do employees get salary raises?

Real Estate

Real Estate professionals in Jamaica are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Jamaica Real Estate
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Jamaica / All Professions

Annual Salary Increment Rate Jamaica
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The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Jamaica is 2%.

Annual Increment Rate By Industry 2019

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Listed above are the average annual increase rates for each industry in Jamaica for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Real Estate Bonus and Incentive Rates in Jamaica

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Jamaica Real Estate
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Real Estate is considered to be a moderate bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

63% of surveyed staff in Real Estate reported that they haven't received any bonuses or incentives in the previous year while 37% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
37%
No Bonus
63%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Jamaica
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Where can you get paid more, working for a private company or for the government? Public sector employees in Jamaica earn 10% more than their private sector counterparts.

Private Sector
188,000 JMD
Public Sector+10%
208,000 JMD
Percentage increase and decrease are relative to the previous value

Real Estate Salary Forecast and Trend in Jamaica

How do Real Estate salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Jamaica Real Estate
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Average Salary 2016
191,000 JMD
Average Salary 2017+4%
199,000 JMD
Average Salary 2018+3%
205,000 JMD
Average Salary 2019+3%
210,000 JMD
Percentage increase and decrease are relative to the previous value

Real Estate salaries in Jamaica are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Real Estate Hourly Average Wage in Jamaica


1,230 JMD per hour

The average hourly wage (pay per hour) in Jamaica is 1,230 JMD. This means that the average person in Jamaica earns approximately 1,230 JMD for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Real Estate VS Other Jobs

Salary Comparison Between Real Estate and Real Estate monthly Jamaica
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The average salary for Real Estate is 10% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Kingston235,000 JMD
146000 - 2

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