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Accounting and Finance Average Salaries in Bahamas 2022

How much money does a person working in Accounting and Finance make in Bahamas?

Average Yearly Salary
48,100 BSD
( 4,010 BSD monthly)


A person working in Accounting and Finance in Bahamas typically earns around 48,100 BSD per year. Salaries range from 19,500 BSD (lowest average) to 96,700 BSD (highest average, actual maximum salary is higher).

This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different Accounting and Finance 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
Account Examiner24,200 BSD
Account Executive44,200 BSD
Accountant33,700 BSD
Accounting Assistant26,800 BSD
Accounting Associate23,600 BSD
Accounting Clerk20,500 BSD
Accounting Coordinator29,100 BSD
Accounting Manager69,600 BSD
Accounting Supervisor46,700 BSD
Accounting Technician23,400 BSD
Accounts Executive45,200 BSD
Accounts Payable and Receivable Specialist33,500 BSD
Accounts Payable Clerk24,700 BSD
Accounts Payable Manager66,800 BSD
Accounts Receivable Clerk25,600 BSD
Accounts Receivable Manager67,900 BSD
Assistant Accounting Manager64,800 BSD
Assistant Auditor33,100 BSD
Audit Supervisor62,500 BSD
Auditing Clerk26,900 BSD
Auditing Manager68,700 BSD
Billing Coordinator31,900 BSD
Billing Specialist37,500 BSD
Billing Supervisor53,000 BSD
Bookkeeper23,200 BSD
Bookkeeping Specialist31,900 BSD
Budget Analyst55,600 BSD
Budget Manager67,700 BSD
Business Support Analyst37,300 BSD
Capital Markets Associate53,300 BSD
Cash Flow Analyst50,400 BSD
Cash Management Officer39,600 BSD
Cashbook Clerk23,600 BSD
Chartered Accountant44,700 BSD
Collections Clerk21,300 BSD
Collections Specialist35,000 BSD
Corporate Treasurer65,700 BSD
Cost Accountant33,900 BSD
Cost Accounting Manager69,300 BSD
Cost Analyst56,500 BSD
Credit and Collection Manager65,600 BSD
Credit and Collection Staff26,300 BSD
Credit and Loans Officer23,500 BSD
Credit Controller44,800 BSD
Debt Adviser58,700 BSD
Debt Collector26,300 BSD
Debtors Clerk23,300 BSD
Deputy CFO93,100 BSD
Derivative Trader58,200 BSD
Escrow Assistant30,100 BSD
External Auditor47,000 BSD
Finance Associate28,400 BSD
Finance Executive71,300 BSD
Finance Licensing Clerk25,000 BSD
Finance Licensing Manager67,300 BSD
Finance Licensing Specialist35,000 BSD
Finance Officer33,600 BSD
Finance President102,000 BSD
Finance Relationship Manager82,100 BSD
Finance Release Analyst40,400 BSD
Finance Team Leader 72,700 BSD
Financial Actuary50,500 BSD
Financial Administrator55,400 BSD
Financial Analyst58,600 BSD
Financial Applications Specialist42,200 BSD
Financial Assistant27,600 BSD
Financial Associate27,400 BSD
Financial Claims Analyst43,400 BSD
Financial Claims Manager58,400 BSD
Financial Commercial Analyst49,800 BSD
Financial Compliance Analyst55,300 BSD
Financial Consultant46,900 BSD
Financial Controller55,400 BSD
Financial Coordinator30,000 BSD
Financial Customer Service Manager61,500 BSD
Financial Dealer and Broker38,300 BSD
Financial Encoder28,200 BSD
Financial Manager91,400 BSD
Financial Operations Manager89,700 BSD
Financial Policy Analyst54,300 BSD
Financial Project Manager71,900 BSD
Financial Quantitative Analyst59,400 BSD
Financial Reporting Consultant48,900 BSD
Financial Reporting Manager67,000 BSD
Financial Services Sales Agent35,600 BSD
Fixed Assets Administrator36,600 BSD
Forensic Accountant41,400 BSD
Fraud Detection Supervisor42,200 BSD
Fraud Prevention Manager70,900 BSD
Fund Accountant33,800 BSD
Grants Coordinator24,300 BSD
Internal Auditor45,600 BSD
Internal Control Adviser53,800 BSD
Internal Control Officer30,300 BSD
Inventory Accountant36,600 BSD
Investment Analyst65,200 BSD
Investment Fund Manager74,800 BSD
Investment Underwriter29,000 BSD
Investor45,400 BSD
Investor Relations Manager65,000 BSD
KYC Team Leader67,700 BSD
Management Economist75,200 BSD
Paymaster27,900 BSD
Payroll Clerk29,100 BSD
Payroll Manager62,000 BSD
Pensions Administrator34,200 BSD
Pricing Analyst56,300 BSD
Private Equity Analyst62,400 BSD
Proposal Development Coordinator28,700 BSD
Receivables Accountant32,000 BSD
Regulatory Accountant35,500 BSD
Retirement Plan Analyst54,500 BSD
Revenue Management Specialist57,600 BSD
Revenue Recognition Analyst61,300 BSD
Risk Management Director79,900 BSD
Risk Management Supervisor66,800 BSD
Tax Accountant32,700 BSD
Tax Advisor53,600 BSD
Tax Associate29,900 BSD
Tax Manager70,100 BSD
Teller21,100 BSD
Treasury Accountant35,400 BSD
Treasury Analyst57,800 BSD
Underwriter24,500 BSD
Underwriting Assistant23,300 BSD
Vice President of Finance93,800 BSD

Accounting and Finance Jobs Salary Distribution in Bahamas

Median and salary distribution yearly Bahamas Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Bahamas range from 19,500 BSD per year (minimum average salary) to 96,700 BSD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 44,300 BSD per year, which means that half (50%) of people working in Accounting and Finance are earning less than 44,300 BSD while the other half are earning more than 44,300 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 people working in Accounting and Finance are earning less than 28,700 BSD while 75% of them are earning more than 28,700 BSD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 64,800 BSD while 25% are earning more than 64,800 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

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 Bahamas costs anywhere from 19,500 Bahamian Dollar(s) to 58,400 Bahamian 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.

Accounting and Finance Salary Comparison By Gender

Salary comparison by gender yearly Bahamas Accounting and Finance
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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 Bahamas who work in Accounting and Finance earn 9% more than their female counterparts on average.

49,800 BSD
45,700 BSD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bahamas for all Careers

Salary comparison by gender yearly Bahamas
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Accounting and Finance Average Annual Salary Increment Percentage in Bahamas

How much are annual salary increments in Bahamas for Accounting and Finance professionals? How often do employees get salary raises?

Accounting and Finance

Accounting and Finance professionals in Bahamas are likely to observe a salary increase of approximately 7% every 26 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Bahamas Accounting and Finance
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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.

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

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

Annual Increment Rate By Industry 2021

Information Technology

Listed above are the average annual increase rates for each industry in Bahamas for the year 2021. 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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Accounting and Finance Bonus and Incentive Rates in Bahamas

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bahamas Accounting and Finance
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Accounting and Finance is considered to be a high 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.

44% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 56% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Accounting and Finance Hourly Average Wage in Bahamas

23 BSD per hour

The average hourly wage (pay per hour) in Bahamas is 23 BSD. This means that the average person in Bahamas earns approximately 23 BSD 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.

Accounting and Finance VS Other Jobs

Salary Comparison Between Accounting and Finance and Accounting and Finance yearly Bahamas
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

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
Percentage increase and decrease are relative to the previous value

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