Psychologist Average Salary in Bermuda 2023
How much money does a Psychologist make in Bermuda?
LOW
1,280
BMD AVERAGE
2,770
BMD HIGH
4,410
BMD
A person working as a Psychologist in Bermuda typically earns around 2,770 BMD per month. Salaries range from 1,280 BMD (lowest) to 4,410 BMD (highest).
This is the average monthly salary including housing, transport, and other benefits. Psychologist salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Psychologist Salary Distribution in Bermuda
The median, the maximum, the minimum, and the range
Salary Range
Psychologist salaries in Bermuda range from 1,280 BMD per month (minimum salary) to 4,410 BMD per month (maximum salary).
Median Salary
The median salary is 2,990 BMD per month, which means that half (50%) of people working as Psychologist(s) are earning less than 2,990 BMD while the other half are earning more than 2,990 BMD. 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 Psychologist(s) are earning less than 1,920 BMD while 75% of them are earning more than 1,920 BMD. Also from the diagram, 75% of Psychologist(s) are earning less than 4,000 BMD while 25% are earning more than 4,000 BMD.
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
Psychologist 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 Psychologist salaries by experience level and this is what we found.
A Psychologist with less than two years of experience makes approximately 1,450 BMD per month.
While someone with an experience level between two and five years is expected to earn 1,930 BMD per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,860 BMD per month, 48% more than someone with two to five years of experience.
Additionally, Psychologist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,480 BMD per month, 22% 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 3,800 BMD per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 4,110 BMD per month, 8% more than people with fifteen to twenty years of experience.
Psychologist average salary change by experience in Bermuda
| 0 - 2 Years | 1,450 BMD | |
| 2 - 5 Years | +34% | 1,930 BMD |
| 5 - 10 Years | +48% | 2,860 BMD |
| 10 - 15 Years | +22% | 3,480 BMD |
| 15 - 20 Years | +9% | 3,800 BMD |
| 20+ Years | +8% | 4,110 BMD |
Typical Salary Progress for Most Careers
Psychologist 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 Psychologist employees in Bermuda earn 19% more than their female counterparts on average.
| Male | 3,010 BMD | |
| Female | -16% | 2,530 BMD |
Salary Comparison By Gender in Bermuda for all Careers
Psychologist Average Annual Salary Increment Percentage in Bermuda
How much are annual salary increments in Bermuda for Psychologist(s)? How often do employees get salary raises?
Psychologist
Psychologist(s) in Bermuda are likely to observe a salary increase of approximately 10% every 29 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
Bermuda / 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 | 6% | |
| Energy | 3% | |
| Information Technology | 9% | |
| Healthcare | 6% | |
| Travel | 3% | |
| Construction | 9% | |
| Education | 6% |
Listed above are the average annual increase rates for each industry in Bermuda 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
Psychologist Bonus and Incentive Rates in Bermuda
How much and how often are bonuses being awarded?
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A Psychologist is considered to be a high 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.
32% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 68% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
| Received Bonus | 68% | |
| No Bonus | 32% |
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.
Psychologist Average Hourly Wage in Bermuda
16 BMD per hourThe average hourly wage (pay per hour) in Bermuda is 16 BMD. This means that the average Psychologist in Bermuda earns approximately 16 BMD 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.
Psychologist VS Other Jobs
The average salary for Psychologist is 57% more than that of Counseling. Also, Counseling salaries are 11% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Adoption Services Director | 2,200 BMD |  -21% |
| Alcohol and Drug Counselor | 1,730 BMD | -38% |
| Assistant Instructor | 790 BMD | -71% |
| Career Counselor | 1,990 BMD | -28% |
| Consultant | 1,930 BMD | -30% |
| Director of Rehabilitation Services | 2,680 BMD | -3% |
| Disability Consultant | 1,610 BMD | -42% |
| Employment Counselor | 1,890 BMD | -32% |
| Family Advocate | 1,320 BMD | -52% |
| Family Services Specialist | 1,510 BMD | -46% |
| Family Support Specialist | 1,980 BMD | -29% |
| Family Youth Worker | 680 BMD | -75% |
| Guidance Counselor | 1,930 BMD | -30% |
| Guidance Director | 2,300 BMD | -17% |
| Mental Health Counselor | 2,230 BMD | -20% |
| Programs Coordinator | 1,100 BMD | -60% |
| Psychologist | 2,770 BMD | -0% |
| Supervising Counselor | 2,020 BMD | -27% |
| Vocational Rehabilitation Counselor | 1,930 BMD | -30% |
| Youth Advocate | 1,110 BMD | -60% |
| Youth Care Counselor | 2,130 BMD | -23% |
| Youth Care Specialist | 1,260 BMD | -55% |
| Youth Development Manager | 2,340 BMD | -16% |
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 Bermuda earn 14% more than their private sector counterparts on average across all sectors.
| Private Sector | 1,470 BMD | |
| Public Sector | +14% | 1,670 BMD |
