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Factory and Manufacturing Average Salaries in Cayman Islands 2020

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


Average Yearly Salary
30,700 KYD
( 2,560 KYD monthly)

LOW
14,500
KYD
AVERAGE
30,700
KYD
HIGH
57,900
KYD

A person working in Factory and Manufacturing in Cayman Islands typically earns around 30,700 KYD per year. Salaries range from 14,500 KYD (lowest average) to 57,900 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 Factory and Manufacturing careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Assembly Foreman16,200 KYD
Assembly Line Worker14,500 KYD
Assembly Supervisor22,700 KYD
Assistance Maintenance Manager36,100 KYD
Assistant Shipping Manager34,700 KYD
Chemical Equipment Controller32,100 KYD
Chemical Technican Apprentice28,700 KYD
CNC Machinist28,900 KYD
CNC Operator27,600 KYD
CNC Programmer30,400 KYD
Colour Technologist25,600 KYD
Contracts Manager35,900 KYD
Data Collection Coordinator25,500 KYD
Demand Planner25,100 KYD
Derrick Operator20,200 KYD
Director of Manufacturing40,600 KYD
Dock Worker19,900 KYD
Drying Technician19,800 KYD
Equipment Operator19,300 KYD
Export Sales Coordinator32,100 KYD
Factory Superintendent26,100 KYD
Factory Worker25,100 KYD
Failure Analysis Technician27,100 KYD
Fiberglass Laminator19,900 KYD
Food Technologist26,900 KYD
Forklift Driver19,900 KYD
Forming Machine Operator21,300 KYD
Furnace Operator18,900 KYD
Gas Appliance Repairer20,300 KYD
General Warehouse Associate30,400 KYD
Heavy Equipment Operator25,100 KYD
HSE Manager39,300 KYD
Industrial Engineer36,700 KYD
Industrial Machinery Mechanic29,400 KYD
Industrial Production Manager55,200 KYD
Industrial Safety and Health Engineer36,900 KYD
Intake Operator23,600 KYD
Key Account Manager40,300 KYD
Lift Truck Operator23,100 KYD
Loading Supervisor29,100 KYD
Logistic Coordinator32,000 KYD
Logistics Clerk26,600 KYD
Machine Operator21,200 KYD
Machinist19,400 KYD
Maintenance Manager36,900 KYD
Maintenance Store Clerk19,000 KYD
Manufacturing Engineer35,600 KYD
Manufacturing Engineering Manager43,000 KYD
Manufacturing Engineering Technologist39,100 KYD
Manufacturing Manager44,900 KYD
Manufacturing Operative33,300 KYD
Manufacturing Production Technician26,600 KYD
Manufacturing Supervisor32,000 KYD
Manufacturing Technician24,600 KYD
Materials Supervisor33,500 KYD
Mechanical Fitter Engineer34,600 KYD
Mechanical Foreman20,800 KYD
Merchandise Planner26,000 KYD
Metrology Engineer34,400 KYD
Operations Engineer31,500 KYD
Operations Manager43,800 KYD
Order Management Coordinator36,100 KYD
Order Processing Manager41,200 KYD
Order Selector25,100 KYD
Package Handler19,700 KYD
Packaging Manager36,900 KYD
Packer14,800 KYD
Packing Deputy Supervisor29,000 KYD
Planning Manager40,800 KYD
Plant Manager46,800 KYD
Precision Instrument Repairer26,000 KYD
Process Technician25,600 KYD
Product Manager42,100 KYD
Production Analyst39,300 KYD
Production Director54,100 KYD
Production Engineer35,200 KYD
Production Engineering Supervisor41,500 KYD
Production Inspector39,400 KYD
Production Laborer19,400 KYD
Production Manager48,200 KYD
Production Scheduler29,800 KYD
Production Supervisor35,000 KYD
Quality Control Analyst39,700 KYD
Quality Control Inspector34,700 KYD
Quality Control Manager44,300 KYD
Service Technician24,600 KYD
SHEQ Officer24,500 KYD
Shipping Manager42,800 KYD
Small Engine Mechanic27,000 KYD
Spray Painter19,400 KYD
Sterile Processing Technician20,800 KYD
Structural Welder20,100 KYD
Supply Chain Operative33,500 KYD
Technical Operator24,100 KYD
Technology Development Manager51,200 KYD
Testing Technician35,200 KYD
Toolmaker27,100 KYD
Warehouse Operative21,700 KYD
Warehouse Worker20,800 KYD
Warranty Handler27,900 KYD
Welder23,100 KYD
Workshop Manager38,900 KYD

Factory and Manufacturing Jobs Salary Distribution in Cayman Islands

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

  • Salary Range

    Factory and Manufacturing salaries in Cayman Islands range from 14,500 KYD per year (minimum average salary) to 57,900 KYD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 31,300 KYD per year, which means that half (50%) of people working in Factory and Manufacturing are earning less than 31,300 KYD while the other half are earning more than 31,300 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 people working in Factory and Manufacturing are earning less than 20,600 KYD while 75% of them are earning more than 20,600 KYD. Also from the diagram, 75% of people working in Factory and Manufacturing are earning less than 45,500 KYD while 25% are earning more than 45,500 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 16,300 Cayman Islands Dollar(s) to 49,000 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.

Factory and Manufacturing Salary Comparison By Gender

Salary comparison by gender yearly Cayman Islands Factory and Manufacturing
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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 earn 17% more than their female counterparts.

Female
27,800 KYD
Male+17%
32,500 KYD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Cayman Islands for all Careers

Salary comparison by gender yearly Cayman Islands
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Factory and Manufacturing Average Annual Salary Increment Percentage in Cayman Islands

How much are annual salary increments in Cayman Islands for Factory and Manufacturing professionals? How often do employees get salary raises?

Factory and Manufacturing

Factory and Manufacturing professionals in Cayman Islands are likely to observe a salary increase of approximately 5% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Cayman Islands Factory and Manufacturing
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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.

Cayman Islands / All Professions

Annual Salary Increment Rate Cayman Islands
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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 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 Cayman Islands 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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Factory and Manufacturing Bonus and Incentive Rates in Cayman Islands

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Cayman Islands Factory and Manufacturing
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Factory and Manufacturing is considered to be a low bonus-based field 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.

89% of surveyed staff in Factory and Manufacturing reported that they haven't received any bonuses or incentives in the previous year while 11% 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
11%
No Bonus
89%

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries yearly Cayman Islands
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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.

Private Sector
35,700 KYD
Public Sector+21%
43,100 KYD
Percentage increase and decrease are relative to the previous value

Factory and Manufacturing Salary Forecast and Trend in Cayman Islands

How do Factory and Manufacturing salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast yearly Cayman Islands Factory and Manufacturing
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Average Salary 2016
27,300 KYD
Average Salary 2017+4%
28,300 KYD
Average Salary 2018+3%
29,100 KYD
Average Salary 2019+2%
29,600 KYD
Percentage increase and decrease are relative to the previous value

Factory and Manufacturing salaries in Cayman Islands are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% 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.

Factory and Manufacturing Hourly Average Wage in Cayman Islands


15 KYD per hour

The average hourly wage (pay per hour) in Cayman Islands is 15 KYD. This means that the average person in Cayman Islands earns approximately 15 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.

Factory and Manufacturing VS Other Jobs

Salary Comparison Between Factory and Manufacturing and Factory and Manufacturing yearly Cayman Islands
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The average salary for Factory and Manufacturing is 22% less than that of All Jobs.

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