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Laboratory Technician Average Salary in Grenada 2020

How much money does a Laboratory Technician make in Grenada?


Average Monthly Salary
4,440 XCD
( 53,200 XCD yearly)

LOW
2,350
XCD
AVERAGE
4,440
XCD
HIGH
6,740
XCD

A person working as a Laboratory Technician in Grenada typically earns around 4,440 XCD per month. Salaries range from 2,350 XCD (lowest) to 6,740 XCD (highest).

This is the average monthly salary including housing, transport, and other benefits. Laboratory Technician salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Laboratory Technician Salary Distribution in Grenada

Median and salary distribution monthly Grenada Laboratory Technician
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The median, the maximum, the minimum, and the range

  • Salary Range

    Laboratory Technician salaries in Grenada range from 2,350 XCD per month (minimum salary) to 6,740 XCD per month (maximum salary).

  • Median Salary

    The median salary is 4,170 XCD per month, which means that half (50%) of people working as Laboratory Technician(s) are earning less than 4,170 XCD while the other half are earning more than 4,170 XCD. 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 Laboratory Technician(s) are earning less than 2,940 XCD while 75% of them are earning more than 2,940 XCD. Also from the diagram, 75% of Laboratory Technician(s) are earning less than 5,130 XCD while 25% are earning more than 5,130 XCD.


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

Laboratory Technician Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Grenada Laboratory Technician
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Laboratory Technician salaries by experience level and this is what we found.

A Laboratory Technician with less than two years of experience makes approximately 2,700 XCD per month.

While someone with an experience level between two and five years is expected to earn 3,320 XCD per month, 23% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 4,700 XCD per month, 42% more than someone with two to five years of experience.

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.

Additionally, Laboratory Technician(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 5,490 XCD per month, 17% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 6,040 XCD per month, 10% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 6,390 XCD per month, 6% more than people with fifteen to twenty years of experience.


Laboratory Technician average salary change by experience in Grenada

0 - 2 Years
2,700 XCD
2 - 5 Years+23%
3,320 XCD
5 - 10 Years+42%
4,700 XCD
10 - 15 Years+17%
5,490 XCD
15 - 20 Years+10%
6,040 XCD
20+ Years+6%
6,390 XCD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Laboratory Technician Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Laboratory Technician(s) who have the same experience but different education levels.

Salary comparison by education level monthly Grenada Laboratory Technician
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Laboratory Technician salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of a Laboratory Technician is 3,060 XCD per month.

While someone with a Master's Degree gets a salary of 5,910 XCD per month, 93% more than someone having a Bachelor's Degree degree.


Laboratory Technician average salary difference by education level in Grenada

Bachelor's Degree
3,060 XCD
Master's Degree+93%
5,910 XCD
Percentage increase and decrease are relative to the previous value

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 Grenada costs anywhere from 31,300 East Caribbean Dollar(s) to 94,000 East Caribbean 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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Laboratory Technician Salary Comparison By Gender

Salary comparison by gender monthly Grenada Laboratory Technician
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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 Laboratory Technician employees in Grenada earn 14% more than their female counterparts on average.

Male
4,660 XCD
Female-12%
4,080 XCD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Grenada for all Careers

Salary comparison by gender monthly Grenada
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Laboratory Technician Average Annual Salary Increment Percentage in Grenada

How much are annual salary increments in Grenada for Laboratory Technician(s)? How often do employees get salary raises?

Laboratory Technician

Laboratory Technician(s) in Grenada are likely to observe a salary increase of approximately 6% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Grenada Laboratory Technician
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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.

Grenada / 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 Grenada is 2%.

Annual Increment Rate By Industry 2019

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Listed above are the average annual increase rates for each industry in Grenada 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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Laboratory Technician Bonus and Incentive Rates in Grenada

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Grenada Laboratory Technician
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A Laboratory Technician is considered to be a low bonus-based job 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.

91% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 9% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.

Received Bonus
9%
No Bonus
91%

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.

Laboratory Technician Average Hourly Wage in Grenada


26 XCD per hour

The average hourly wage (pay per hour) in Grenada is 26 XCD. This means that the average Laboratory Technician in Grenada earns approximately 26 XCD 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.

Laboratory Technician VS Other Jobs

Salary Comparison Between Laboratory Technician and Health and Medical monthly Grenada
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The average salary for Laboratory Technician is 43% less than that of Healthcare Technical. Also, Healthcare Technical salaries are 17% less than those of Health and Medical.

Salary comparison with similar jobs

Job TitleAverage Salary
Academic Clinician12,200 XCD+170%
Admitting Officer4,260 XCD-4%
Ambulance Dispatcher4,510 XCD+2%
Ambulance Driver4,080 XCD-8%
Ambulance Officer and Paramedic4,650 XCD+5%
Ambulatory Services Director9,360 XCD+110%
Anatomic Pathology Supervisor10,900 XCD+150%
Anesthesia Technician6,650 XCD+50%
Anesthesiologist19,300 XCD+330%
Anesthesiology Assistant6,400 XCD+44%
Assistant Optometrist5,040 XCD+14%
Audiologist10,900 XCD+150%
Biomedical Engineering Director8,380 XCD+89%
Biomedical Engineering Technician4,340 XCD-2%
Cardiac Technician4,130 XCD-7%
Cardiovascular Specialist22,200 XCD+400%
Cardiovascular Technologist9,170 XCD+110%
Central Sterile Processing Technician5,090 XCD+15%
Charge Entry Specialist5,860 XCD+32%
Clinical Application Specialist5,670 XCD+28%
Clinical Biochemist10,200 XCD+130%
Clinical Cytogeneticist8,590 XCD+94%
Clinical Data Reviewer5,590 XCD+26%
Clinical Development Specialist6,890 XCD+55%
Clinical Field Associate5,440 XCD+23%
Clinical Genetic Technologist8,480 XCD+91%
Clinical Microbiologist11,100 XCD+150%
Clinical Molecular Geneticist10,100 XCD+130%
Clinical Neuropsychologist12,400 XCD+180%
Clinical Research Coordinator6,390 XCD+44%
Clinical Scientist12,300 XCD+180%
CME Specialist9,830 XCD+120%
CT Technologist5,460 XCD+23%
Cytogenetic Technologist8,030 XCD+81%
Diagnostic Medical Sonographer6,860 XCD+55%
Dispensing Optician5,530 XCD+25%
Dosimetrist7,750 XCD+75%
EKG Technician5,450 XCD+23%
Endoscopic Assistant4,660 XCD+5%
Endoscopy Technician4,660 XCD+5%
Enterostomal Therapist7,400 XCD+67%
Epidemiologist9,770 XCD+120%
FGP Ultrasound Techncian5,040 XCD+14%
Health Systems Specialist6,800 XCD+53%
Health Technologist7,510 XCD+69%
Healthcare Data Analyst5,740 XCD+29%
Hearing Aid Specialist6,110 XCD+38%
Histotechnologist7,250 XCD+63%
Immunologist11,200 XCD+150%
Industrial Hygienist7,860 XCD+77%
Infection Control Coordinator5,660 XCD+28%
Infection Control Practitioner12,300 XCD+180%
Infection Preventionist8,730 XCD+97%
Informatics Practice Specialist7,000 XCD+58%
Interventional Radiographer9,090 XCD+100%
Lab Assistant4,290 XCD-3%
Laboratory Manager8,550 XCD+93%
Laboratory Technician4,440 XCD+0%
Low Vision Therapist10,300 XCD+130%
Mammography Technician4,380 XCD-1%
Medical Coder4,140 XCD-7%
Medical Courier3,190 XCD-28%
Medical Equipment Preparer4,850 XCD+9%
Medical Forms Designer3,880 XCD-13%
Medical Technologist5,080 XCD+14%
MRI Technologist4,930 XCD+11%
Music Therapist6,510 XCD+47%
Neonatologist13,300 XCD+200%
Neurodiagnostic Techncian4,890 XCD+10%
Neuropsychology Testing Assistant4,170 XCD-6%
Nuclear Medical Technician6,770 XCD+53%
Nuclear Medicine Technolgoist6,700 XCD+51%
Nutrition Assistant4,850 XCD+9%
Occupaitional Therapy Assistant4,850 XCD+9%
Operating Room Scheduler4,420 XCD-0%
Operating Room Services Director13,500 XCD+200%
Ophthalmic Assistant4,790 XCD+8%
Ophthalmic Laboratory Technician5,230 XCD+18%
Optician10,500 XCD+140%
Orthopedic Technician4,960 XCD+12%
Orthoptist13,700 XCD+210%
Orthotist13,500 XCD+200%
Pathology Assistant4,600 XCD+4%
Perfusionist15,500 XCD+250%
Phlebotomist3,640 XCD-18%
Pre Authorization Case Manager7,020 XCD+58%
Prosthetist11,100 XCD+150%
Radiation Therapist15,800 XCD+260%
Radiation Therapy Technologist6,780 XCD+53%
Radiographer10,600 XCD+140%
Radiography Technologist6,680 XCD+51%
Radiologic Technologist6,430 XCD+45%
Radiology Technologist7,050 XCD+59%
Respiratory Care Practitioner12,700 XCD+190%
Respiratory Therapist9,560 XCD+120%
Respiratory Therapy Technician5,520 XCD+24%
Sonographer6,520 XCD+47%
Sonography Technologist6,860 XCD+55%
Speech and Language Pathologist10,600 XCD+140%
Ultrasonographer5,220 XCD+18%
Ultrasound Technologist5,340 XCD+20%
Vascular Technologist4,890 XCD+10%
X-Ray Technologist6,570 XCD+48%

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 Grenada earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
6,020 XCD
Public Sector+7%
6,450 XCD
Percentage increase and decrease are relative to the previous value

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