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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
26,600 KYD
( 2,210 KYD monthly)

LOW
9,840
KYD
AVERAGE
26,600
KYD
HIGH
66,600
KYD

A person working in Factory and Manufacturing in Cayman Islands typically earns around 26,600 KYD per year. Salaries range from 9,840 KYD (lowest average) to 66,600 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 Foreman10,900 KYD
Assembly Line Worker10,400 KYD
Assembly Supervisor15,600 KYD
Assistance Maintenance Manager37,800 KYD
Assistant Shipping Manager33,300 KYD
Chemical Equipment Controller24,700 KYD
Chemical Technican Apprentice20,300 KYD
CNC Machinist24,300 KYD
CNC Operator24,100 KYD
CNC Programmer26,000 KYD
Colour Technologist13,600 KYD
Contracts Manager44,200 KYD
Data Collection Coordinator17,600 KYD
Demand Planner16,600 KYD
Derrick Operator11,200 KYD
Director of Manufacturing63,500 KYD
Dock Worker9,930 KYD
Drying Technician10,400 KYD
Equipment Operator9,840 KYD
Export Sales Coordinator32,100 KYD
Factory Superintendent17,100 KYD
Factory Worker11,600 KYD
Failure Analysis Technician17,500 KYD
Fiberglass Laminator10,800 KYD
Food Technologist19,300 KYD
Forklift Driver10,600 KYD
Forming Machine Operator11,300 KYD
Furnace Operator10,500 KYD
Gas Appliance Repairer11,000 KYD
General Warehouse Associate18,200 KYD
Heavy Equipment Operator14,200 KYD
HSE Manager44,400 KYD
Industrial Engineer35,300 KYD
Industrial Machinery Mechanic22,000 KYD
Industrial Production Manager65,000 KYD
Industrial Safety and Health Engineer33,500 KYD
Intake Operator13,600 KYD
Key Account Manager50,000 KYD
Lift Truck Operator11,400 KYD
Loading Supervisor20,200 KYD
Logistic Coordinator28,300 KYD
Logistics Clerk13,600 KYD
Machine Operator10,900 KYD
Machinist11,100 KYD
Maintenance Manager42,500 KYD
Maintenance Store Clerk11,100 KYD
Manufacturing Engineer35,500 KYD
Manufacturing Engineering Manager51,000 KYD
Manufacturing Engineering Technologist39,100 KYD
Manufacturing Manager58,400 KYD
Manufacturing Operative17,800 KYD
Manufacturing Production Technician14,500 KYD
Manufacturing Supervisor30,700 KYD
Manufacturing Technician13,000 KYD
Materials Supervisor31,300 KYD
Mechanical Fitter Engineer36,700 KYD
Mechanical Foreman10,500 KYD
Merchandise Planner18,100 KYD
Metrology Engineer33,700 KYD
Operations Engineer31,500 KYD
Operations Manager54,900 KYD
Order Management Coordinator28,900 KYD
Order Processing Manager47,600 KYD
Order Selector13,900 KYD
Package Handler10,600 KYD
Packaging Manager35,200 KYD
Packer10,600 KYD
Packing Deputy Supervisor29,000 KYD
Planning Manager50,800 KYD
Plant Manager57,900 KYD
Precision Instrument Repairer16,500 KYD
Process Technician13,600 KYD
Product Manager54,400 KYD
Production Analyst46,100 KYD
Production Director67,900 KYD
Production Engineer34,200 KYD
Production Engineering Supervisor52,100 KYD
Production Inspector38,400 KYD
Production Laborer9,440 KYD
Production Manager66,200 KYD
Production Scheduler26,100 KYD
Production Supervisor34,000 KYD
Quality Control Analyst44,200 KYD
Quality Control Inspector35,000 KYD
Quality Control Manager51,400 KYD
Service Technician13,600 KYD
SHEQ Officer15,800 KYD
Shipping Manager54,300 KYD
Small Engine Mechanic18,800 KYD
Spray Painter10,800 KYD
Sterile Processing Technician12,200 KYD
Structural Welder10,200 KYD
Supply Chain Operative31,000 KYD
Technical Operator14,500 KYD
Technology Development Manager63,200 KYD
Testing Technician24,900 KYD
Toolmaker17,700 KYD
Warehouse Operative12,100 KYD
Warehouse Worker11,400 KYD
Warranty Handler19,900 KYD
Welder10,900 KYD
Workshop Manager40,200 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 9,840 KYD per year (minimum average salary) to 66,600 KYD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 27,100 KYD per year, which means that half (50%) of people working in Factory and Manufacturing are earning less than 27,100 KYD while the other half are earning more than 27,100 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 people working in Factory and Manufacturing are earning less than 16,600 KYD while 75% of them are earning more than 16,600 KYD. Also from the diagram, 75% of people working in Factory and Manufacturing are earning less than 47,800 KYD while 25% are earning more than 47,800 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.

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 in Cayman Islands who work in Factory and Manufacturing earn 12% more than their female counterparts on average.

Male
27,700 KYD
Female-10%
24,800 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

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.

Factory and Manufacturing Hourly Average Wage in Cayman Islands


13 KYD per hour

The average hourly wage (pay per hour) in Cayman Islands is 13 KYD. This means that the average person in Cayman Islands earns approximately 13 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 32% less than that of All Jobs.

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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