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Average Salary in Liberia 2020

How much money does a person working in Liberia make?


Average Monthly Salary
72,400 LRD
( 868,000 LRD yearly)

LOW
9,790
LRD
AVERAGE
72,400
LRD
HIGH
320,000
LRD

A person working in Liberia typically earns around 72,400 LRD per month. Salaries range from 9,790 LRD (lowest average) to 320,000 LRD (highest average, actual maximum salary is higher).

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

Distribution of Salaries in Liberia

Median and salary distribution monthly Liberia
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The median, the maximum, the minimum, and the range

  • Salary Range

    Salaries in Liberia range from 9,790 LRD per month (minimum salary) to 320,000 LRD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 70,900 LRD per month, which means that half (50%) of the population are earning less than 70,900 LRD while the other half are earning more than 70,900 LRD. 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 the population are earning less than 36,300 LRD while 75% of them are earning more than 36,300 LRD. Also from the diagram, 75% of the population are earning less than 192,000 LRD while 25% are earning more than 192,000 LRD.


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 Liberia costs anywhere from 362,000 Liberian Dollar(s) to 1,090,000 Liberian 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.



Salary Comparison By Gender

Salary comparison by gender monthly Liberia
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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 in Liberia earn 29% more than their female counterparts.

Female
63,600 LRD
Male+29%
82,100 LRD
Percentage increase and decrease are relative to the previous value

Average Annual Salary Increment Percentage in Liberia

How much are annual salary increments in Liberia? How often do employees get salary raises?

Liberia

Employees in Liberia are likely to observe a salary increase of approximately 4% every 29 months.

Annual Salary Increment Rate Liberia
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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.

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 Liberia is 2%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Liberia 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.


Average Salary Increase Rate by Experience Level

Junoir Level
3% - 5%
Mid-Career
6% - 9%
Senior Level
10% - 15%
Top Management
15% - 20%

The difference in increment rates is somehow justified because employers put more effort to retain more experienced staff since they are harder to acquire than less experienced ones.

Worldwide Salary Raises: All Countries and All Jobs

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Bonus and Incentive Rates in Liberia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Liberia
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66% of surveyed staff in Liberia reported that they haven't received any bonuses or incentives in the previous year while 34% 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
34%
No Bonus
66%

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.


Bonus Rates Comparison by Career Field

Finance
High
Architecture
High
Sales
High
Business Development
High
Marketing / Advertising
High
Information Technology
Moderate
Healthcare
Moderate
Insurance
Moderate
Customer Service
Moderate
Human Resources
Moderate
Construction
Low
Transport
Low
Hospitality
Low

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 Liberia
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Where can you get paid more, working for a private company or for the government? Public sector employees in Liberia earn 21% more than their private sector counterparts.

Private Sector
65,800 LRD
Public Sector+21%
79,600 LRD
Percentage increase and decrease are relative to the previous value

Salary Trend and Forecast in Liberia

How are Liberia salaries changing over time? The chart below shows the average salary change in the past few years.

Salary trends and forecast monthly Liberia
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Average Salary 2016
64,800 LRD
Average Salary 2017+4%
67,200 LRD
Average Salary 2018+2%
68,700 LRD
Average Salary 2019+3%
71,000 LRD
Percentage increase and decrease are relative to the previous value

Salaries in Liberia are on the rise 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.

Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant49,900 LRD
Accounting Assistant49,000 LRD
Accounting Manager93,500 LRD
Bookkeeper39,600 LRD
Chartered Accountant60,300 LRD
Corporate Treasurer123,000 LRD
Financial Analyst77,800 LRD
Financial Manager146,000 LRD
Internal Auditor74,100 LRD

Administration / Reception / Secretarial
Administrative Assistant39,400 LRD
Office Manager50,200 LRD
Receptionist52,300 LRD
Secretary38,600 LRD

Advertising / Grapic Design / Events
Art Director73,800 LRD
Creative Director72,700 LRD
Graphic Designer49,600 LRD
Photographer50,800 LRD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer75,900 LRD
Air Traffic Controller72,200 LRD
Flight Attendant64,800 LRD
Pilot89,700 LRD

Architecture
Architect63,100 LRD
CAD Drafter57,200 LRD

Automotive
Mechanic40,000 LRD
Service Advisor56,700 LRD

Banking
Bank Branch Manager105,000 LRD
Teller49,300 LRD

Bilingual
Teacher57,800 LRD
Translator60,300 LRD

Business Planning
Business Analyst87,200 LRD
Business Development Manager108,000 LRD
Project Manager82,200 LRD

Care Giving and Child Care
Nanny46,800 LRD
Nursery Teacher54,400 LRD

Construction / Building / Installation
Civil Engineer67,700 LRD
Construction Project Manager87,800 LRD
Health and Safety Officer46,300 LRD

Customer Service and Call Center
Call Center Representative50,500 LRD
Customer Service Manager95,400 LRD
Customer Service Representative52,000 LRD

Engineering
Electrical Engineer70,700 LRD
Engineer68,000 LRD
Mechanical Engineer74,800 LRD

Executive and Management
Chief Executive Officer171,000 LRD
Chief Financial Officer155,000 LRD
General Manager127,000 LRD

Food / Hospitality / Tourism / Catering
Chef62,000 LRD
Executive Chef63,000 LRD
Hotel Manager103,000 LRD
Travel Agent58,800 LRD
Waiter / Waitress44,300 LRD

Health and Medical
Dentist166,000 LRD
Dietitian170,000 LRD
Laboratory Technician57,500 LRD
Nurse58,600 LRD

Human Resources
Human Resources Manager103,000 LRD
Human Resources Officer59,900 LRD

Information Technology
Computer Technician54,700 LRD
Database Administrator74,100 LRD
Developer / Programmer63,700 LRD
Information Technology Manager102,000 LRD
Network Engineer66,100 LRD

Law Enforcement / Security / Fire
Police Officer59,700 LRD

Legal
Attorney108,000 LRD
Legal Assistant54,500 LRD

Media / Broadcasting / Arts / Entertainment
Journalist73,600 LRD

Pharmaceutical and Biotechnology
Biomedical Engineer60,600 LRD
Pharmacist82,700 LRD

Sales Retail and Wholesale
Cashier41,200 LRD
Sales Manager115,000 LRD
Sales Representative48,900 LRD

Teaching / Education
Elementary School Teacher50,500 LRD
Secondary School Teacher56,800 LRD

Average Hourly Wage in Liberia


420 LRD per hour

The average hourly wage (pay per hour) in Liberia is 420 LRD. This means that the average person in Liberia earns approximately 420 LRD 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.

Salary Comparison By City

CityAverage Salary
Monrovia82,000 LRD
1856000 - 1

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