Jeweler Average Salary in Bahamas 2023
How much money does a Jeweler make in Bahamas?
LOW
20,300
BSD AVERAGE
37,500
BSD HIGH
56,600
BSD
A person working as a Jeweler in Bahamas typically earns around 37,500 BSD per year. Salaries range from 20,300 BSD (lowest) to 56,600 BSD (highest).
This is the average yearly salary including housing, transport, and other benefits. Jeweler salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Jeweler Salary Distribution in Bahamas
The median, the maximum, the minimum, and the range
Salary Range
Jeweler salaries in Bahamas range from 20,300 BSD per year (minimum salary) to 56,600 BSD per year (maximum salary).
Median Salary
The median salary is 34,500 BSD per year, which means that half (50%) of people working as Jeweler(s) are earning less than 34,500 BSD while the other half are earning more than 34,500 BSD. 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 Jeweler(s) are earning less than 24,600 BSD while 75% of them are earning more than 24,600 BSD. Also from the diagram, 75% of Jeweler(s) are earning less than 41,900 BSD while 25% are earning more than 41,900 BSD.
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
Jeweler Salary Comparison by Years of Experience
How does experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Jeweler salaries by experience level and this is what we found.
A Jeweler with less than two years of experience makes approximately 23,500 BSD per year.
While someone with an experience level between two and five years is expected to earn 29,700 BSD per year, 26% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 39,200 BSD per year, 32% more than someone with two to five years of experience.
Additionally, Jeweler(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 46,100 BSD per year, 18% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 51,000 BSD per year, 11% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 54,300 BSD per year, 6% more than people with fifteen to twenty years of experience.
Jeweler average salary change by experience in Bahamas
| 0 - 2 Years | 23,500 BSD | |
| 2 - 5 Years | +26% | 29,700 BSD |
| 5 - 10 Years | +32% | 39,200 BSD |
| 10 - 15 Years | +18% | 46,100 BSD |
| 15 - 20 Years | +11% | 51,000 BSD |
| 20+ Years | +6% | 54,300 BSD |
Typical Salary Progress for Most Careers
Jeweler Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Jeweler(s) who have the same experience but different education levels.
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Jeweler salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Jeweler is 32,600 BSD per year.
While someone with a Certificate or Diploma gets a salary of 50,800 BSD per year, 56% more than someone having a High School degree.
Jeweler average salary difference by education level in Bahamas
| High School | 32,600 BSD | |
| Certificate or Diploma | +56% | 50,800 BSD |
Typical Salary Difference by Education for Most Careers
Jeweler Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Jeweler employees in Bahamas earn 8% less than their female counterparts on average.
| Male | 35,600 BSD | |
| Female | +9% | 38,800 BSD |
Salary Comparison By Gender in Bahamas for all Careers
Jeweler Average Annual Salary Increment Percentage in Bahamas
How much are annual salary increments in Bahamas for Jeweler(s)? How often do employees get salary raises?
Jeweler
Jeweler(s) in Bahamas are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
Bahamas / All Professions
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
Annual Increment Rate By Industry 2022
| 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 Bahamas for the year 2022. 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
Jeweler Bonus and Incentive Rates in Bahamas
How much and how often are bonuses being awarded?
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A Jeweler is considered to be a moderate bonus-based job 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.
67% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 33% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.
| Received Bonus | 33% | |
| No Bonus | 67% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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.
Jeweler Average Hourly Wage in Bahamas
18 BSD per hourThe average hourly wage (pay per hour) in Bahamas is 18 BSD. This means that the average Jeweler in Bahamas earns approximately 18 BSD for every worked hour.
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.
Jeweler VS Other Jobs
The average salary for Jeweler is 3% less than that of Fashion and Apparel. Also, Fashion and Apparel salaries are 18% less than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Alterations Specialist | 19,800 BSD |  -47% |
| Barber | 20,100 BSD | -46% |
| Bench Jeweler | 16,800 BSD | -55% |
| Clothing and Textile Technologist | 40,000 BSD |  +7% |
| Cosmetology Educator | 47,500 BSD | +27% |
| Diamond Setter | 21,500 BSD | -43% |
| Fabric Manager | 46,900 BSD | +25% |
| Fashion Design Manager | 76,700 BSD | +100% |
| Fashion Merchandiser | 32,100 BSD | -14% |
| Fashion Model | 43,600 BSD | +16% |
| Freelance Fashion Stylist | 73,900 BSD | +97% |
| Garment Technologist | 39,000 BSD | +4% |
| Hairstylist | 22,600 BSD | -40% |
| Jeweler | 37,500 BSD | -0% |
| Jewelry Mold Maker | 26,900 BSD | -28% |
| Jewelry Polisher | 15,200 BSD | -59% |
| Jewelry Sales | 30,200 BSD | -19% |
| Plating Manager | 49,900 BSD | +33% |
| Product Development Manager | 84,200 BSD | +120% |
| Sewing Machine Operator | 14,500 BSD | -61% |
| Shoe Sales | 24,100 BSD | -36% |
| Supply Chain Manager | 82,800 BSD | +120% |
| Tailor / Fitter | 19,900 BSD | -47% |
| Trend Forecaster | 46,700 BSD | +24% |
| Visual Merchandising Coordinator | 30,900 BSD | -18% |
| Visual Merchandising Projects Manager | 69,200 BSD | +84% |
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in Bahamas earn 10% more than their private sector counterparts on average across all sectors.
| Private Sector | 45,300 BSD | |
| Public Sector | +10% | 50,000 BSD |
