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Average Salary in Belize 2020

How much money does a person working in Belize make?


Average Monthly Salary
5,060 BZD
( 60,700 BZD yearly)

LOW
680
BZD
AVERAGE
5,060
BZD
HIGH
22,400
BZD

A person working in Belize typically earns around 5,060 BZD per month. Salaries range from 680 BZD (lowest average) to 22,400 BZD (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 Belize

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

  • Salary Range

    Salaries in Belize range from 680 BZD per month (minimum salary) to 22,400 BZD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 4,960 BZD per month, which means that half (50%) of the population are earning less than 4,960 BZD while the other half are earning more than 4,960 BZD. 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 2,540 BZD while 75% of them are earning more than 2,540 BZD. Also from the diagram, 75% of the population are earning less than 13,400 BZD while 25% are earning more than 13,400 BZD.


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 Belize costs anywhere from 25,300 Belize Dollar(s) to 75,900 Belize 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 Belize
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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 Belize earn 18% more than their female counterparts.

Female
4,660 BZD
Male+18%
5,510 BZD
Percentage increase and decrease are relative to the previous value

Average Annual Salary Increment Percentage in Belize

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

Belize

Employees in Belize are likely to observe a salary increase of approximately 5% every 28 months.

Annual Salary Increment Rate Belize
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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 Belize 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 Belize 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 Belize

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Belize
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66% of surveyed staff in Belize 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 Belize
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Where can you get paid more, working for a private company or for the government? Public sector employees in Belize earn 21% more than their private sector counterparts.

Private Sector
4,610 BZD
Public Sector+21%
5,570 BZD
Percentage increase and decrease are relative to the previous value

Salary Trend and Forecast in Belize

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

Salary trends and forecast monthly Belize
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Average Salary 2016
4,530 BZD
Average Salary 2017+4%
4,700 BZD
Average Salary 2018+2%
4,800 BZD
Average Salary 2019+3%
4,970 BZD
Percentage increase and decrease are relative to the previous value

Salaries in Belize 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
Accountant3,480 BZD
Accounting Assistant3,420 BZD
Accounting Manager6,540 BZD
Bookkeeper2,810 BZD
Chartered Accountant4,320 BZD
Corporate Treasurer8,860 BZD
Financial Analyst5,510 BZD
Financial Manager10,300 BZD
Internal Auditor5,260 BZD

Administration / Reception / Secretarial
Administrative Assistant2,790 BZD
Office Manager3,600 BZD
Receptionist3,550 BZD
Secretary2,780 BZD

Advertising / Grapic Design / Events
Art Director4,870 BZD
Creative Director5,330 BZD
Graphic Designer3,660 BZD
Photographer3,400 BZD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer5,650 BZD
Air Traffic Controller5,370 BZD
Flight Attendant4,420 BZD
Pilot6,140 BZD

Architecture
Architect4,800 BZD
CAD Drafter3,960 BZD

Automotive
Mechanic2,820 BZD
Service Advisor4,000 BZD

Banking
Bank Branch Manager7,310 BZD
Teller3,530 BZD

Bilingual
Teacher3,730 BZD
Translator4,320 BZD

Business Planning
Business Analyst6,280 BZD
Business Development Manager7,900 BZD
Project Manager5,890 BZD

Care Giving and Child Care
Nanny3,100 BZD
Nursery Teacher3,630 BZD

Construction / Building / Installation
Civil Engineer4,530 BZD
Construction Project Manager6,070 BZD
Health and Safety Officer3,360 BZD

Customer Service and Call Center
Call Center Representative3,570 BZD
Customer Service Manager6,800 BZD
Customer Service Representative3,710 BZD

Engineering
Electrical Engineer5,230 BZD
Engineer4,570 BZD
Mechanical Engineer5,100 BZD

Executive and Management
Chief Executive Officer12,100 BZD
Chief Financial Officer10,400 BZD
General Manager9,070 BZD

Food / Hospitality / Tourism / Catering
Chef4,290 BZD
Executive Chef4,370 BZD
Hotel Manager7,250 BZD
Travel Agent4,170 BZD
Waiter / Waitress3,150 BZD

Health and Medical
Dentist11,900 BZD
Dietitian12,100 BZD
Laboratory Technician3,930 BZD
Nurse3,950 BZD

Human Resources
Human Resources Manager6,850 BZD
Human Resources Officer4,000 BZD

Information Technology
Computer Technician4,020 BZD
Database Administrator5,240 BZD
Developer / Programmer4,370 BZD
Information Technology Manager7,560 BZD
Network Engineer4,600 BZD

Law Enforcement / Security / Fire
Police Officer4,190 BZD

Legal
Attorney7,630 BZD
Legal Assistant3,500 BZD

Media / Broadcasting / Arts / Entertainment
Journalist5,130 BZD

Pharmaceutical and Biotechnology
Biomedical Engineer4,150 BZD
Pharmacist5,740 BZD

Sales Retail and Wholesale
Cashier2,790 BZD
Sales Manager7,830 BZD
Sales Representative3,330 BZD

Teaching / Education
Elementary School Teacher3,570 BZD
Secondary School Teacher4,150 BZD

Average Hourly Wage in Belize


29 BZD per hour

The average hourly wage (pay per hour) in Belize is 29 BZD. This means that the average person in Belize earns approximately 29 BZD 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.

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