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Laboratory Technician Average Salary in Bahamas 2020

How much money does a Laboratory Technician make in Bahamas?


Average Yearly Salary
34,800 BSD
( 2,900 BSD monthly)

LOW
18,800
BSD
AVERAGE
34,800
BSD
HIGH
52,500
BSD

A person working as a Laboratory Technician in Bahamas typically earns around 34,800 BSD per year. Salaries range from 18,800 BSD (lowest) to 52,500 BSD (highest).

This is the average yearly salary including housing, transport, and other benefits. Laboratory Technician salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Laboratory Technician Salary Distribution in Bahamas

Median and salary distribution yearly Bahamas Laboratory Technician
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The median, the maximum, the minimum, and the range

  • Salary Range

    Laboratory Technician salaries in Bahamas range from 18,800 BSD per year (minimum salary) to 52,500 BSD per year (maximum salary).

  • Median Salary

    The median salary is 32,000 BSD per year, which means that half (50%) of people working as Laboratory Technician(s) are earning less than 32,000 BSD while the other half are earning more than 32,000 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 Laboratory Technician(s) are earning less than 22,800 BSD while 75% of them are earning more than 22,800 BSD. Also from the diagram, 75% of Laboratory Technician(s) are earning less than 38,900 BSD while 25% are earning more than 38,900 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

Laboratory Technician Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience yearly Bahamas Laboratory Technician
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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 Laboratory Technician salaries by experience level and this is what we found.

A Laboratory Technician with less than two years of experience makes approximately 21,800 BSD per year.

While someone with an experience level between two and five years is expected to earn 27,600 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 36,300 BSD per year, 32% more than someone with two to five years of experience.

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.

Additionally, Laboratory Technician(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 42,700 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 47,300 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 50,300 BSD per year, 6% more than people with fifteen to twenty years of experience.


Laboratory Technician average salary change by experience in Bahamas

0 - 2 Years
21,800 BSD
2 - 5 Years+26%
27,600 BSD
5 - 10 Years+32%
36,300 BSD
10 - 15 Years+18%
42,700 BSD
15 - 20 Years+11%
47,300 BSD
20+ Years+6%
50,300 BSD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Laboratory Technician Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Laboratory Technician(s) who have the same experience but different education levels.

Salary comparison by education level yearly Bahamas Laboratory Technician
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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 Laboratory Technician salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of a Laboratory Technician is 28,200 BSD per year.

While someone with a Master's Degree gets a salary of 43,100 BSD per year, 53% more than someone having a Bachelor's Degree degree.


Laboratory Technician average salary difference by education level in Bahamas

Bachelor's Degree
28,200 BSD
Master's Degree+53%
43,100 BSD
Percentage increase and decrease are relative to the previous value

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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Laboratory Technician Salary Comparison By Gender

Salary comparison by gender yearly Bahamas Laboratory Technician
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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 Laboratory Technician employees in Bahamas earn 9% more than their female counterparts on average.

Male
36,000 BSD
Female-8%
33,000 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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Laboratory Technician Average Annual Salary Increment Percentage in Bahamas

How much are annual salary increments in Bahamas for Laboratory Technician(s)? How often do employees get salary raises?

Laboratory Technician

Laboratory Technician(s) in Bahamas are likely to observe a salary increase of approximately 6% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Bahamas Laboratory Technician
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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 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 Bahamas 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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Laboratory Technician Bonus and Incentive Rates in Bahamas

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bahamas Laboratory Technician
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A Laboratory Technician is considered to be a low 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.

92% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 8% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 2% of their annual salary.

Received Bonus
8%
No Bonus
92%

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.

Laboratory Technician Average Hourly Wage in Bahamas


17 BSD per hour

The average hourly wage (pay per hour) in Bahamas is 17 BSD. This means that the average Laboratory Technician in Bahamas earns approximately 17 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.

Laboratory Technician VS Other Jobs

Salary Comparison Between Laboratory Technician and Health and Medical yearly Bahamas
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The average salary for Laboratory Technician is 40% less than that of Healthcare Technical. Also, Healthcare Technical salaries are 17% less than those of Health and Medical.

Salary comparison with similar jobs

Job TitleAverage Salary
Academic Clinician93,800 BSD+170%
Admitting Officer36,200 BSD+4%
Ambulance Dispatcher35,400 BSD+2%
Ambulance Driver33,000 BSD-5%
Ambulance Officer and Paramedic38,000 BSD+9%
Ambulatory Services Director71,300 BSD+110%
Anatomic Pathology Supervisor80,100 BSD+130%
Anesthesia Technician52,200 BSD+50%
Anesthesiologist154,000 BSD+340%
Anesthesiology Assistant50,700 BSD+46%
Assistant Optometrist42,400 BSD+22%
Audiologist85,200 BSD+140%
Biomedical Engineering Director67,700 BSD+95%
Biomedical Engineering Technician36,100 BSD+4%
Cardiac Technician32,100 BSD-8%
Cardiovascular Specialist181,000 BSD+420%
Cardiovascular Technologist69,900 BSD+100%
Central Sterile Processing Technician42,400 BSD+22%
Charge Entry Specialist45,100 BSD+30%
Clinical Application Specialist43,600 BSD+25%
Clinical Biochemist81,000 BSD+130%
Clinical Cytogeneticist70,100 BSD+100%
Clinical Data Reviewer44,300 BSD+27%
Clinical Development Specialist56,200 BSD+62%
Clinical Field Associate45,700 BSD+31%
Clinical Genetic Technologist73,400 BSD+110%
Clinical Microbiologist93,800 BSD+170%
Clinical Molecular Geneticist79,400 BSD+130%
Clinical Neuropsychologist98,900 BSD+180%
Clinical Research Coordinator51,600 BSD+48%
Clinical Scientist99,000 BSD+180%
CME Specialist74,800 BSD+120%
CT Technologist42,400 BSD+22%
Cytogenetic Technologist64,300 BSD+85%
Diagnostic Medical Sonographer56,500 BSD+62%
Dispensing Optician42,900 BSD+23%
Dosimetrist60,100 BSD+73%
EKG Technician43,600 BSD+25%
Endoscopic Assistant38,500 BSD+11%
Endoscopy Technician37,200 BSD+7%
Enterostomal Therapist61,100 BSD+76%
Epidemiologist75,000 BSD+120%
FGP Ultrasound Techncian37,200 BSD+7%
Health Systems Specialist53,800 BSD+55%
Health Technologist61,400 BSD+77%
Healthcare Data Analyst48,800 BSD+40%
Hearing Aid Specialist50,800 BSD+46%
Histotechnologist58,000 BSD+67%
Immunologist89,600 BSD+160%
Industrial Hygienist62,300 BSD+79%
Infection Control Coordinator46,200 BSD+33%
Infection Control Practitioner95,700 BSD+180%
Infection Preventionist69,900 BSD+100%
Informatics Practice Specialist55,400 BSD+59%
Interventional Radiographer77,300 BSD+120%
Lab Assistant35,100 BSD+1%
Laboratory Manager65,000 BSD+87%
Laboratory Technician34,800 BSD+0%
Low Vision Therapist81,600 BSD+130%
Mammography Technician36,500 BSD+5%
Medical Coder32,100 BSD-8%
Medical Courier25,500 BSD-27%
Medical Equipment Preparer38,000 BSD+9%
Medical Forms Designer31,600 BSD-9%
Medical Technologist41,900 BSD+20%
MRI Technologist38,300 BSD+10%
Music Therapist55,800 BSD+60%
Neonatologist107,000 BSD+210%
Neurodiagnostic Techncian36,800 BSD+6%
Neuropsychology Testing Assistant34,400 BSD-1%
Nuclear Medical Technician54,100 BSD+56%
Nuclear Medicine Technolgoist51,000 BSD+47%
Nutrition Assistant36,200 BSD+4%
Occupaitional Therapy Assistant40,800 BSD+17%
Operating Room Scheduler36,400 BSD+5%
Operating Room Services Director104,000 BSD+200%
Ophthalmic Assistant39,200 BSD+13%
Ophthalmic Laboratory Technician39,800 BSD+14%
Optician80,800 BSD+130%
Orthopedic Technician39,300 BSD+13%
Orthoptist112,000 BSD+220%
Orthotist103,000 BSD+200%
Pathology Assistant37,600 BSD+8%
Perfusionist124,000 BSD+260%
Phlebotomist29,400 BSD-15%
Pre Authorization Case Manager55,000 BSD+58%
Prosthetist85,900 BSD+150%
Radiation Therapist133,000 BSD+280%
Radiation Therapy Technologist52,600 BSD+51%
Radiographer86,500 BSD+150%
Radiography Technologist53,500 BSD+54%
Radiologic Technologist51,900 BSD+49%
Radiology Technologist54,800 BSD+58%
Respiratory Care Practitioner101,000 BSD+190%
Respiratory Therapist77,300 BSD+120%
Respiratory Therapy Technician45,000 BSD+29%
Sonographer56,500 BSD+62%
Sonography Technologist56,500 BSD+62%
Speech and Language Pathologist83,100 BSD+140%
Ultrasonographer45,200 BSD+30%
Ultrasound Technologist43,100 BSD+24%
Vascular Technologist36,100 BSD+4%
X-Ray Technologist53,700 BSD+54%

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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