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Average Salary in Gibraltar 2020

How much money does a person working in Gibraltar make?


Average Yearly Salary
40,900 GIP
( 3,410 GIP monthly)

LOW
5,540
GIP
AVERAGE
40,900
GIP
HIGH
181,000
GIP

A person working in Gibraltar typically earns around 40,900 GIP per year. Salaries range from 5,540 GIP (lowest average) to 181,000 GIP (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 Gibraltar

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

  • Salary Range

    Salaries in Gibraltar range from 5,540 GIP per year (minimum salary) to 181,000 GIP per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 38,500 GIP per year, which means that half (50%) of the population are earning less than 38,500 GIP while the other half are earning more than 38,500 GIP. 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 19,800 GIP while 75% of them are earning more than 19,800 GIP. Also from the diagram, 75% of the population are earning less than 103,000 GIP while 25% are earning more than 103,000 GIP.


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 Gibraltar costs anywhere from 17,000 Gibraltar Pound(s) to 51,100 Gibraltar Pound(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 Gibraltar
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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 Gibraltar earn 22% more than their female counterparts.

Female
36,000 GIP
Male+22%
43,800 GIP
Percentage increase and decrease are relative to the previous value

Average Annual Salary Increment Percentage in Gibraltar

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

Gibraltar

Employees in Gibraltar are likely to observe a salary increase of approximately 4% every 29 months.

Annual Salary Increment Rate Gibraltar
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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 Gibraltar is 2%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

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


Average Salary Increase Rate by Experience Level

Junoir Level
3% - 5%
Mid-Career
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 Gibraltar

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Gibraltar
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68% of surveyed staff in Gibraltar reported that they haven't received any bonuses or incentives in the previous year while 32% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.

Received Bonus
32%
No Bonus
68%

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

Finance
High
Architecture
High
Sales
High
Business Development
High
Marketing / Advertising
High
Information Technology
Moderate
Healthcare
Moderate
Insurance
Moderate
Customer Service
Moderate
Human Resources
Moderate
Construction
Low
Transport
Low
Hospitality
Low

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 Gibraltar
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Where can you get paid more, working for a private company or for the government? Public sector employees in Gibraltar earn 18% more than their private sector counterparts.

Private Sector
36,800 GIP
Public Sector+18%
43,400 GIP
Percentage increase and decrease are relative to the previous value

Salary Trend and Forecast in Gibraltar

How are Gibraltar salaries changing over time? The chart below shows the average salary change in the past few years.

Salary trends and forecast yearly Gibraltar
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Average Salary 2016
37,000 GIP
Average Salary 2017+4%
38,300 GIP
Average Salary 2018+2%
38,900 GIP
Average Salary 2019+2%
39,800 GIP
Percentage increase and decrease are relative to the previous value

Salaries in Gibraltar are on the rise 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.

Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant25,900 GIP
Accounting Assistant24,500 GIP
Accounting Manager52,800 GIP
Bookkeeper21,400 GIP
Chartered Accountant35,000 GIP
Corporate Treasurer65,300 GIP
Financial Analyst41,600 GIP
Financial Manager80,400 GIP
Internal Auditor39,100 GIP

Administration / Reception / Secretarial
Administrative Assistant21,100 GIP
Office Manager27,000 GIP
Receptionist28,500 GIP
Secretary21,800 GIP

Advertising / Grapic Design / Events
Art Director39,400 GIP
Creative Director40,100 GIP
Graphic Designer27,700 GIP
Photographer26,300 GIP

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer42,200 GIP
Air Traffic Controller38,600 GIP
Flight Attendant32,800 GIP
Pilot45,800 GIP

Architecture
Architect34,700 GIP
CAD Drafter29,800 GIP

Automotive
Mechanic20,400 GIP
Service Advisor29,600 GIP

Banking
Bank Branch Manager56,600 GIP
Teller26,500 GIP

Bilingual
Teacher28,500 GIP
Translator35,000 GIP

Business Planning
Business Analyst47,400 GIP
Business Development Manager59,500 GIP
Project Manager44,200 GIP

Care Giving and Child Care
Nanny24,800 GIP
Nursery Teacher26,800 GIP

Construction / Building / Installation
Civil Engineer35,000 GIP
Construction Project Manager47,500 GIP
Health and Safety Officer24,100 GIP

Customer Service and Call Center
Call Center Representative28,000 GIP
Customer Service Manager50,800 GIP
Customer Service Representative26,600 GIP

Engineering
Electrical Engineer39,800 GIP
Engineer35,500 GIP
Mechanical Engineer36,400 GIP

Executive and Management
Chief Executive Officer87,400 GIP
Chief Financial Officer80,200 GIP
General Manager67,700 GIP

Food / Hospitality / Tourism / Catering
Chef32,300 GIP
Executive Chef33,600 GIP
Hotel Manager55,500 GIP
Travel Agent31,000 GIP
Waiter / Waitress22,500 GIP

Health and Medical
Dentist96,500 GIP
Dietitian91,600 GIP
Laboratory Technician28,000 GIP
Nurse32,100 GIP

Human Resources
Human Resources Manager52,700 GIP
Human Resources Officer32,100 GIP

Information Technology
Computer Technician30,200 GIP
Database Administrator39,600 GIP
Developer / Programmer35,400 GIP
Information Technology Manager54,000 GIP
Network Engineer34,800 GIP

Law Enforcement / Security / Fire
Police Officer30,100 GIP

Legal
Attorney57,700 GIP
Legal Assistant28,100 GIP

Media / Broadcasting / Arts / Entertainment
Journalist36,800 GIP

Pharmaceutical and Biotechnology
Biomedical Engineer31,700 GIP
Pharmacist42,500 GIP

Sales Retail and Wholesale
Cashier21,400 GIP
Sales Manager60,400 GIP
Sales Representative24,700 GIP

Teaching / Education
Elementary School Teacher28,000 GIP
Secondary School Teacher32,300 GIP

Average Hourly Wage in Gibraltar


20 GIP per hour

The average hourly wage (pay per hour) in Gibraltar is 20 GIP. This means that the average person in Gibraltar earns approximately 20 GIP 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.

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