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Average Salary in Cayman Islands 2023

How much money does a person working in Cayman Islands make?

Average Yearly Salary
38,900 KYD
( 3,240 KYD monthly)


A person working in Cayman Islands typically earns around 38,900 KYD per year. Salaries range from 9,840 KYD (lowest average) to 174,000 KYD (highest average, actual maximum salary is higher).

This is the average yearly 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 Cayman Islands

Median and salary distribution yearly Cayman Islands
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The median, the maximum, the minimum, and the range

  • Salary Range

    Salaries in Cayman Islands range from 9,840 KYD per year (minimum salary) to 174,000 KYD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 38,100 KYD per year, which means that half (50%) of the population are earning less than 38,100 KYD while the other half are earning more than 38,100 KYD. 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 21,600 KYD while 75% of them are earning more than 21,600 KYD. Also from the diagram, 75% of the population are earning less than 104,000 KYD while 25% are earning more than 104,000 KYD.

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 Cayman Islands costs anywhere from 16,200 Cayman Islands Dollar(s) to 48,600 Cayman Islands 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 yearly Cayman Islands
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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 Cayman Islands earn 16% more than their female counterparts on avergae across all sectors.

42,000 KYD
36,100 KYD
Percentage increase and decrease are relative to the previous value

Average Annual Salary Increment Percentage in Cayman Islands

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

Cayman Islands

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

Annual Salary Increment Rate Cayman Islands
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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 Cayman Islands is 2%.

Annual Increment Rate By Industry 2022

Information Technology

Listed above are the average annual increase rates for each industry in Cayman Islands 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.

Average Salary Increase Rate by Experience Level

Junoir Level
3% - 5%
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 Cayman Islands

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Cayman Islands
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66% of surveyed staff in Cayman Islands 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
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.

Bonus Rates Comparison by Career Field

Business Development
Marketing / Advertising
Information Technology
Customer Service
Human Resources

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.

Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant26,100 KYD
Accounting Assistant21,300 KYD
Accounting Manager57,900 KYD
Bookkeeper17,600 KYD
Chartered Accountant35,400 KYD
Corporate Treasurer53,100 KYD
Financial Analyst48,200 KYD
Financial Manager79,500 KYD
Internal Auditor36,500 KYD

Administration / Reception / Secretarial
Administrative Assistant19,900 KYD
Office Manager33,600 KYD
Receptionist14,200 KYD
Secretary16,700 KYD

Advertising / Grapic Design / Events
Art Director39,700 KYD
Creative Director39,000 KYD
Graphic Designer24,800 KYD
Photographer21,400 KYD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer51,200 KYD
Air Traffic Controller41,400 KYD
Flight Attendant25,600 KYD
Pilot63,900 KYD

Architect46,300 KYD
CAD Drafter18,900 KYD

Mechanic14,800 KYD
Service Advisor26,600 KYD

Bank Branch Manager72,300 KYD
Teller14,500 KYD

Teacher28,800 KYD
Translator35,400 KYD

Business Planning
Business Analyst48,000 KYD
Business Development Manager62,000 KYD
Project Manager43,400 KYD

Care Giving and Child Care
Nanny15,600 KYD
Nursery Teacher15,100 KYD

Construction / Building / Installation
Civil Engineer35,300 KYD
Construction Project Manager65,000 KYD
Health and Safety Officer16,700 KYD

Customer Service and Call Center
Call Center Representative15,100 KYD
Customer Service Manager52,100 KYD
Customer Service Representative15,100 KYD

Electrical Engineer38,400 KYD
Engineer36,200 KYD
Mechanical Engineer36,500 KYD

Executive and Management
Chief Executive Officer88,600 KYD
Chief Financial Officer79,900 KYD
General Manager67,500 KYD

Food / Hospitality / Tourism / Catering
Chef23,100 KYD
Executive Chef28,900 KYD
Hotel Manager66,700 KYD
Travel Agent24,300 KYD
Waiter / Waitress12,600 KYD

Health and Medical
Dentist93,500 KYD
Dietitian73,700 KYD
Laboratory Technician28,900 KYD
Nurse28,900 KYD

Human Resources
Human Resources Manager57,900 KYD
Human Resources Officer22,200 KYD

Information Technology
Computer Technician30,000 KYD
Database Administrator37,300 KYD
Developer / Programmer36,900 KYD
Information Technology Manager62,400 KYD
Network Engineer31,900 KYD

Law Enforcement / Security / Fire
Police Officer23,600 KYD

Attorney73,700 KYD
Legal Assistant20,700 KYD

Media / Broadcasting / Arts / Entertainment
Journalist44,300 KYD

Pharmaceutical and Biotechnology
Biomedical Engineer34,100 KYD
Pharmacist48,200 KYD

Sales Retail and Wholesale
Cashier14,800 KYD
Sales Manager67,900 KYD
Sales Representative24,100 KYD

Teaching / Education
Elementary School Teacher27,600 KYD
Secondary School Teacher30,700 KYD

Average Hourly Wage in Cayman Islands

19 KYD per hour

The average hourly wage (pay per hour) in Cayman Islands is 19 KYD. This means that the average person in Cayman Islands earns approximately 19 KYD 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.

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 Cayman Islands earn 21% more than their private sector counterparts on average across all sectors.

Private Sector
35,400 KYD
Public Sector+21%
42,800 KYD
Percentage increase and decrease are relative to the previous value

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