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Average Salary in Grenada 2024

How much money does a person working in Grenada make?


Average Monthly Salary
6,290 XCD
( 75,500 XCD yearly)

LOW
1,590
XCD
AVERAGE
6,290
XCD
HIGH
28,000
XCD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Grenada typically earns around 6,290 XCD. Salaries range from 1,590 XCD (lowest average) to 28,000 XCD (highest average, actual maximum salary is higher).


Salary Variance

This is the average salary including housing, transport, and other benefits. Salaries in Grenada vary drastically between different careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.



Pay Scale and Salaries in Grenada

Median and salary distribution Grenada monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
12,100 XCD or more
10% of people earn
9,500 to 12,100 XCD
20% of people earn
3,700 XCD or less
65% of people earn
3,700 to 9,500 XCD
Minimum Salary
1,590 XCD
Median
5,580 XCD
Maximum
28,000 XCD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Grenada range from 1,590 XCD (starting salary) to 28,000 XCD (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.

  • Median Salary

    The median salary is 5,580 XCD, which means that 50% of the population in Grenada earns less than that while the other half earns more. 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 and Salary Scale

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population in Grenada earn less than 4,030 XCD while 75% of them earn more. Also from the diagram, 75% of the population earn less than 8,460 XCD while 25% earn more than that.

  • Pay Scale Structure

    We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights into how salaries are actually distributed in Grenada. Around 65% of all reported figures are in the range 3,700 XCD to 9,500 XCD. Approximately 20% fall under the 3,700 XCD cap. Ten percent of wages are from 9,500 XCD to 12,100 XCD. Only 5% of people grossed 12,100 XCD or more.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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Salary is primarily determined by the level of experience one possesses, with higher levels of experience resulting in higher wages.

In Grenada, employees with two to five years of experience typically earn an average of 32% more than entry-level and junior workers in all industries and fields.

Individuals with more than five years of experience tend to earn an average of 36% more than those with less than five years of experience.

After ten years of work, salaries increase by 21%, with an additional 14% increase for those who have worked for over 15 years.

These figures should be used as rough estimates, as considering individual job titles can lead to more accurate assessments.


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.
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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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.

The correlation between higher education and higher salary is widely acknowledged, but how much of an income increase can one expect from obtaining a degree?

We conducted a study in Grenada comparing the salaries of professionals with different levels of college degrees who held similar positions in various industries.

Our results showed that individuals with a certificate or diploma earned an average of 17% more than those who only completed high school.

Those who obtained a Bachelor's Degree earned 24% more than their counterparts with a certificate or diploma.

Professionals with a Master's Degree earned 29% more than those with a Bachelor's Degree.

Finally, those who held a PhD earned an average of 23% more than those with a Master's Degree while performing the same job.


Is investing in a Master's degree or an MBA worth it? Is pursuing higher education worth the investment?

Earning a Master's degree or any post-graduate qualification in Grenada is a substantial financial commitment, with tuition fees ranging from 31,400 XCD to 94,300 XCD and a duration of around two years. It's important to note that during this period, any salary increases are unlikely, assuming ongoing employment. Salary reviews are typically conducted after completing the program and obtaining the degree.

Many individuals pursue advanced education as a means of transitioning to higher-paying positions, and the statistics indicate that this is an effective strategy. On average, individuals who change jobs after earning a higher degree receive a salary increase of about 10% more than the typical annual raise.

Ultimately, deciding whether or not to pursue advanced education depends on a variety of factors, including the personal situation and experience. However, if one can afford the financial costs of obtaining a higher degree, the return on investment is likely to be worthwhile, with the ability to recoup the costs in approximately a year.



Salary and Compensation Comparison By Gender / Grenada

Salary comparison by gender Grenada monthly
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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? In Grenada, the average difference between the salary of male and female employees is 6% across all career fields.

Male
6,460 XCD
Female-6%
6,070 XCD
Percentage increase and decrease are relative to the previous value


Average Annual Salary Increment Percentage in Grenada

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

Grenada

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

Annual Salary Increment Rate Grenada
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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 rare 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 Grenada is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates in Grenada

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Grenada
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65% of surveyed staff in Grenada reported that they haven't received any bonuses or incentives in the previous year while 35% 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
35%
No Bonus
65%

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.

Salaries for popular jobs. Salaries by occupations.

Job TitleAverage Salary
Accounting and Finance
Accountant4,050 XCD
Accounting Assistant3,120 XCD
Accounting Manager9,320 XCD
Bookkeeper2,780 XCD
Chartered Accountant5,480 XCD
Corporate Treasurer8,460 XCD
Financial Analyst7,410 XCD
Financial Manager11,300 XCD
Internal Auditor5,820 XCD

Administration / Reception / Secretarial
Administrative Assistant3,050 XCD
Office Manager5,150 XCD
Receptionist2,310 XCD
Secretary2,780 XCD

Advertising / Graphic Design / Events
Art Director5,710 XCD
Creative Director5,730 XCD
Graphic Designer3,760 XCD
Photographer3,220 XCD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer7,510 XCD
Air Traffic Controller6,360 XCD
Flight Attendant4,140 XCD
Pilot10,700 XCD

Architecture
Architect7,530 XCD
CAD Drafter3,030 XCD

Automotive
Mechanic2,300 XCD
Service Advisor4,120 XCD

Banking
Bank Branch Manager10,700 XCD
Teller2,220 XCD

Bilingual
Teacher4,700 XCD
Translator5,480 XCD

Business Planning
Business Analyst7,590 XCD
Business Development Manager9,110 XCD
Project Manager6,660 XCD

Care Giving and Child Care
Nanny2,390 XCD
Nursery Teacher2,300 XCD

Construction / Building / Installation
Civil Engineer5,300 XCD
Construction Project Manager9,940 XCD
Health and Safety Officer2,670 XCD

Customer Service and Call Center
Call Center Representative2,210 XCD
Customer Service Manager7,740 XCD
Customer Service Representative2,350 XCD

Engineering
Electrical Engineer5,990 XCD
Engineer5,600 XCD
Mechanical Engineer5,590 XCD

Executive and Management
Chief Executive Officer13,800 XCD
Chief Financial Officer12,000 XCD
General Manager10,000 XCD

Food / Hospitality / Tourism / Catering
Chef3,700 XCD
Executive Chef4,160 XCD
Hotel Manager10,600 XCD
Travel Agent3,880 XCD
Waiter / Waitress1,910 XCD

Health and Medical
Dentist14,400 XCD
Dietitian11,700 XCD
Laboratory Technician4,440 XCD
Nurse4,870 XCD

Human Resources
Human Resources Manager9,320 XCD
Human Resources Officer3,530 XCD

Information Technology
Computer Technician4,410 XCD
Database Administrator5,740 XCD
Developer / Programmer5,780 XCD
Information Technology Manager10,300 XCD
Network Engineer5,280 XCD

Law Enforcement / Security / Fire
Police Officer3,580 XCD

Legal
Attorney11,300 XCD
Legal Assistant3,010 XCD

Media / Broadcasting / Arts / Entertainment
Journalist6,510 XCD

Pharmaceutical and Biotechnology
Biomedical Engineer5,110 XCD
Pharmacist8,020 XCD

Sales Retail and Wholesale
Cashier2,210 XCD
Sales Manager10,500 XCD
Sales Representative3,900 XCD

Teaching / Education
Elementary School Teacher4,050 XCD
Secondary School Teacher5,110 XCD

Average Hourly Wage in Grenada


36 XCD per hour

The average hourly wage (pay per hour) for all employees in Grenada is 36 XCD.This is the rate that the average individual gets paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for a person in Grenada is 9 XCD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Grenada is 7% on average across all career fields.

Private Sector
6,040 XCD
Public Sector+7%
6,480 XCD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Grenada?

It is extremely difficult to give an exact figure of a good salary when no specific job is selected, however; an estimate can be provided based purely on the cost of living. A good compensation in Grenada would range anywhere between 5,580 XCD and 8,460 XCD.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary in Grenada ranges from 1,590 XCD to 4,030 XCD. The base salary depends on many factors including profession, experience, and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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