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Laboratory Technician Average Salary in Bermuda 2020

How much money does a Laboratory Technician make in Bermuda?


Average Monthly Salary
1,190 BMD
( 14,200 BMD yearly)

LOW
580
BMD
AVERAGE
1,190
BMD
HIGH
1,850
BMD

A person working as a Laboratory Technician in Bermuda typically earns around 1,190 BMD per month. Salaries range from 580 BMD (lowest) to 1,850 BMD (highest).

This is the average monthly 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 Bermuda

Median and salary distribution monthly Bermuda Laboratory Technician
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The median, the maximum, the minimum, and the range

  • Salary Range

    Laboratory Technician salaries in Bermuda range from 580 BMD per month (minimum salary) to 1,850 BMD per month (maximum salary).

  • Median Salary

    The median salary is 1,210 BMD per month, which means that half (50%) of people working as Laboratory Technician(s) are earning less than 1,210 BMD while the other half are earning more than 1,210 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 Laboratory Technician(s) are earning less than 810 BMD while 75% of them are earning more than 810 BMD. Also from the diagram, 75% of Laboratory Technician(s) are earning less than 1,560 BMD while 25% are earning more than 1,560 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

Laboratory Technician Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Bermuda 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 690 BMD per month.

While someone with an experience level between two and five years is expected to earn 890 BMD per month, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 1,220 BMD per month, 38% 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 1,510 BMD per month, 24% 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 1,620 BMD per month, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 1,730 BMD per month, 7% more than people with fifteen to twenty years of experience.


Laboratory Technician average salary change by experience in Bermuda

0 - 2 Years
690 BMD
2 - 5 Years+29%
890 BMD
5 - 10 Years+38%
1,220 BMD
10 - 15 Years+24%
1,510 BMD
15 - 20 Years+7%
1,620 BMD
20+ Years+7%
1,730 BMD
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 monthly Bermuda 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 860 BMD per month.

While someone with a Master's Degree gets a salary of 1,380 BMD per month, 61% more than someone having a Bachelor's Degree degree.


Laboratory Technician average salary difference by education level in Bermuda

Bachelor's Degree
860 BMD
Master's Degree+61%
1,380 BMD
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 Bermuda costs anywhere from 7,970 Bermudian Dollar(s) to 23,900 Bermudian 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 monthly Bermuda 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 Bermuda earn 12% more than their female counterparts on average.

Male
1,240 BMD
Female-10%
1,110 BMD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bermuda for all Careers

Salary comparison by gender monthly Bermuda
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Laboratory Technician Average Annual Salary Increment Percentage in Bermuda

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

Laboratory Technician

Laboratory Technician(s) in Bermuda 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 Bermuda 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.

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

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

Annual Increment Rate By Industry 2019

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 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 Bermuda

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bermuda 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.

87% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 13% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
13%
No Bonus
87%

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 Bermuda


7 BMD per hour

The average hourly wage (pay per hour) in Bermuda is 7 BMD. This means that the average Laboratory Technician in Bermuda earns approximately 7 BMD 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 monthly Bermuda
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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 Clinician3,100 BMD+160%
Admitting Officer1,150 BMD-3%
Ambulance Dispatcher1,210 BMD+2%
Ambulance Driver1,130 BMD-5%
Ambulance Officer and Paramedic1,300 BMD+10%
Ambulatory Services Director2,460 BMD+110%
Anatomic Pathology Supervisor2,860 BMD+140%
Anesthesia Technician1,810 BMD+53%
Anesthesiologist4,920 BMD+310%
Anesthesiology Assistant1,830 BMD+54%
Assistant Optometrist1,410 BMD+19%
Audiologist2,790 BMD+140%
Biomedical Engineering Director2,150 BMD+81%
Biomedical Engineering Technician1,160 BMD-2%
Cardiac Technician1,140 BMD-4%
Cardiovascular Specialist6,210 BMD+420%
Cardiovascular Technologist2,410 BMD+100%
Central Sterile Processing Technician1,360 BMD+15%
Charge Entry Specialist1,490 BMD+26%
Clinical Application Specialist1,500 BMD+26%
Clinical Biochemist2,920 BMD+150%
Clinical Cytogeneticist2,310 BMD+95%
Clinical Data Reviewer1,540 BMD+30%
Clinical Development Specialist1,960 BMD+65%
Clinical Field Associate1,460 BMD+23%
Clinical Genetic Technologist2,360 BMD+99%
Clinical Microbiologist3,110 BMD+160%
Clinical Molecular Geneticist2,660 BMD+120%
Clinical Neuropsychologist3,280 BMD+180%
Clinical Research Coordinator1,770 BMD+49%
Clinical Scientist3,340 BMD+180%
CME Specialist2,580 BMD+120%
CT Technologist1,510 BMD+27%
Cytogenetic Technologist2,310 BMD+95%
Diagnostic Medical Sonographer1,820 BMD+53%
Dispensing Optician1,410 BMD+19%
Dosimetrist2,140 BMD+80%
EKG Technician1,450 BMD+22%
Endoscopic Assistant1,260 BMD+6%
Endoscopy Technician1,340 BMD+13%
Enterostomal Therapist2,000 BMD+69%
Epidemiologist2,690 BMD+130%
FGP Ultrasound Techncian1,330 BMD+12%
Health Systems Specialist1,830 BMD+54%
Health Technologist2,100 BMD+77%
Healthcare Data Analyst1,640 BMD+38%
Hearing Aid Specialist1,630 BMD+37%
Histotechnologist2,080 BMD+75%
Immunologist2,860 BMD+140%
Industrial Hygienist2,070 BMD+75%
Infection Control Coordinator1,550 BMD+31%
Infection Control Practitioner3,280 BMD+180%
Infection Preventionist2,410 BMD+100%
Informatics Practice Specialist1,770 BMD+49%
Interventional Radiographer2,450 BMD+110%
Lab Assistant1,200 BMD+1%
Laboratory Manager2,200 BMD+85%
Laboratory Technician1,190 BMD+0%
Low Vision Therapist2,830 BMD+140%
Mammography Technician1,270 BMD+7%
Medical Coder1,100 BMD-7%
Medical Courier880 BMD-26%
Medical Equipment Preparer1,320 BMD+11%
Medical Forms Designer1,100 BMD-7%
Medical Technologist1,400 BMD+18%
MRI Technologist1,340 BMD+13%
Music Therapist1,870 BMD+58%
Neonatologist3,620 BMD+210%
Neurodiagnostic Techncian1,250 BMD+5%
Neuropsychology Testing Assistant1,200 BMD+1%
Nuclear Medical Technician1,730 BMD+46%
Nuclear Medicine Technolgoist1,830 BMD+54%
Nutrition Assistant1,230 BMD+4%
Occupaitional Therapy Assistant1,300 BMD+10%
Operating Room Scheduler1,170 BMD-1%
Operating Room Services Director3,720 BMD+210%
Ophthalmic Assistant1,340 BMD+13%
Ophthalmic Laboratory Technician1,370 BMD+16%
Optician2,890 BMD+140%
Orthopedic Technician1,420 BMD+20%
Orthoptist3,750 BMD+220%
Orthotist3,470 BMD+190%
Pathology Assistant1,240 BMD+5%
Perfusionist3,940 BMD+230%
Phlebotomist930 BMD-22%
Pre Authorization Case Manager1,910 BMD+61%
Prosthetist3,060 BMD+160%
Radiation Therapist4,420 BMD+270%
Radiation Therapy Technologist1,800 BMD+52%
Radiographer2,840 BMD+140%
Radiography Technologist1,850 BMD+56%
Radiologic Technologist1,860 BMD+57%
Radiology Technologist1,910 BMD+61%
Respiratory Care Practitioner3,490 BMD+190%
Respiratory Therapist2,450 BMD+110%
Respiratory Therapy Technician1,570 BMD+32%
Sonographer1,820 BMD+53%
Sonography Technologist1,820 BMD+53%
Speech and Language Pathologist2,780 BMD+130%
Ultrasonographer1,450 BMD+22%
Ultrasound Technologist1,450 BMD+22%
Vascular Technologist1,290 BMD+9%
X-Ray Technologist1,770 BMD+49%

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
Percentage increase and decrease are relative to the previous value

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