Laboratory Technician Average Salary in Bahamas 2023
How much money does a person working as Laboratory Technician make in Bahamas?
LOW
18,800
BSD AVERAGE
34,800
BSD HIGH
52,500
BSD
A person working as Laboratory Technician in Bahamas typically earns around 34,800 BSD. Salaries range from 18,800 BSD (lowest) to 52,500 BSD (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Laboratory Technician salaries in Bahamas vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Laboratory Technician Pay Scale and Salaries in Bahamas
Salary Structure and Pay Scale Comparison
31,000 BSD or more
27,700 to 31,000 BSD
20,600 BSD or less
20,600 to 27,700 BSD
 18,800 BSD |
31,100 BSD |
52,500 BSD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Laboratory Technician in Bahamas range from 18,800 BSD (starting salary) to 52,500 BSD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 31,100 BSD, half of the professionals who work as Laboratory Technician in Bahamas earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Laboratory Technician in Bahamas earn less than 26,000 BSD, while 75% earn more. Similarly, the chart shows that 75% earn less than 35,100 BSD while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Laboratory Technician in Bahamas compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 20,600 BSD to 27,700 BSD. About 20% of salaries are below the 20,600 BSD mark, while 10% fall within the range of 27,700 BSD to 31,000 BSD. Only 5% of individuals have salaries exceeding 31,000 BSD.
Salary Comparison by Years of Experience / Laboratory Technician / Bahamas
How do experience and age affect pay?
| 0 - 2 Years | 21,800 BSD | |
| 2 - 5 Years | +26% | 27,600 BSD |
| 5 - 10 Years | +32% | 36,300 BSD |
| 10 - 15 Years | +18% | 42,700 BSD |
| 15 - 20 Years | +11% | 47,300 BSD |
| 20+ Years | +6% | 50,300 BSD |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Laboratory Technician and this is what we found.
Employees with less than two years of experience earn approximately 21,800 BSD.
While someone with an experience level between two and five years is expected to earn 27,600 BSD, 26% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 36,300 BSD, 32% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 42,700 BSD, 18% 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 47,300 BSD, 11% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 50,300 BSD, 6% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Laboratory Technician / Bahamas
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Laboratory Technician.
| Bachelor's Degree | 28,200 BSD | |
| Master's Degree | +53% | 43,100 BSD |
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 salaries by education level for the position Laboratory Technician in order to make a comparison.
Level 1: Bachelor's Degree
Employees at this education level have an average salary of 28,200 BSD.
Level 2: Master's Degree
At this level, the average salary becomes 43,100 BSD, 53% more than the previous level.
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 Bahamas costs anywhere from 19,500 BSD to 58,400 BSD 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 to a higher-paying job. The numbers seem to support the theory. 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 and Compensation Comparison By Gender / Laboratory Technician / Bahamas
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Laboratory Technician in Bahamas, the average difference between the salary of male and female employees is 9%.
| Male | 36,000 BSD | |
| Female | -8% | 33,000 BSD |
Salary Comparison By Gender in Bahamas for all Careers
Average Annual Salary Increment Percentage / Laboratory Technician / Bahamas
How much are annual salary increments in Bahamas for individuals working as Laboratory Technician? How often do employees get salary raises?
Individuals working as Laboratory Technician in Bahamas 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.
Bahamas / All Professions
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
Annual Increment Rate By Industry 2022
| Banking | 7% | |
| Energy | 5% | |
| Information Technology | 3% | |
| Healthcare | 1% | |
| Travel | 8% | |
| Construction | 6% | |
| Education | 4% |
Listed above are the average annual increase rates for each industry in Bahamas for the year 2022. 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
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 / Laboratory Technician / Bahamas
How much and how often are bonuses being awarded?
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92% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 8% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 1% to 2% of their annual salary.
| Received Bonus | 8% | |
| No Bonus | 92% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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.
Salary Trend and Forecast / Laboratory Technician / Bahamas
How are salaries changing over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 31,700 BSD | |
| Average Salary 2020 | +2% | 32,300 BSD |
| Average Salary 2021 | +2% | 33,000 BSD |
| Average Salary 2022 | +2% | 33,800 BSD |
Salaries for individuals working as Laboratory Technician in Bahamas are on the rise in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.
Average Hourly Wage / Laboratory Technician / Bahamas
17 BSD per hourThe average hourly wage (pay per hour) for individuals working as Laboratory Technician in Bahamas is 17 BSD.This is the rate they get paid for every worked hour.
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 people working as Laboratory Technician in Bahamas is 9 BSD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Laboratory Technician VS Other Jobs
Salary comparison with similar jobs
| Job Title | Average Salary |
| Academic Clinician | 93,800 BSD |  +170% |
| Admitting Officer | 36,200 BSD | +4% |
| Ambulance Dispatcher | 35,400 BSD | +2% |
| Ambulance Driver | 33,000 BSD |  -5% |
| Ambulance Officer and Paramedic | 38,000 BSD | +9% |
| Ambulatory Services Director | 71,300 BSD | +110% |
| Anatomic Pathology Supervisor | 80,100 BSD | +130% |
| Anesthesia Technician | 52,200 BSD | +50% |
| Anesthesiologist | 154,000 BSD | +340% |
| Anesthesiology Assistant | 50,700 BSD | +46% |
| Assistant Optometrist | 42,400 BSD | +22% |
| Audiologist | 85,200 BSD | +140% |
| Biomedical Engineering Director | 67,700 BSD | +95% |
| Biomedical Engineering Technician | 36,100 BSD | +4% |
| Cardiac Technician | 32,100 BSD | -8% |
| Cardiovascular Specialist | 181,000 BSD | +420% |
| Cardiovascular Technologist | 69,900 BSD | +100% |
| Central Sterile Processing Technician | 42,400 BSD | +22% |
| Charge Entry Specialist | 45,100 BSD | +30% |
| Clinical Application Specialist | 43,600 BSD | +25% |
| Clinical Biochemist | 81,000 BSD | +130% |
| Clinical Cytogeneticist | 70,100 BSD | +100% |
| Clinical Data Reviewer | 44,300 BSD | +27% |
| Clinical Development Specialist | 56,200 BSD | +62% |
| Clinical Field Associate | 45,700 BSD | +31% |
| Clinical Genetic Technologist | 73,400 BSD | +110% |
| Clinical Microbiologist | 93,800 BSD | +170% |
| Clinical Molecular Geneticist | 79,400 BSD | +130% |
| Clinical Neuropsychologist | 98,900 BSD | +180% |
| Clinical Research Coordinator | 51,600 BSD | +48% |
| Clinical Scientist | 99,000 BSD | +180% |
| CME Specialist | 74,800 BSD | +120% |
| CT Technologist | 42,400 BSD | +22% |
| Cytogenetic Technologist | 64,300 BSD | +85% |
| Diagnostic Medical Sonographer | 56,500 BSD | +62% |
| Dispensing Optician | 42,900 BSD | +23% |
| Dosimetrist | 60,100 BSD | +73% |
| EKG Technician | 43,600 BSD | +25% |
| Endoscopic Assistant | 38,500 BSD | +11% |
| Endoscopy Technician | 37,200 BSD | +7% |
| Enterostomal Therapist | 61,100 BSD | +76% |
| Epidemiologist | 75,000 BSD | +120% |
| FGP Ultrasound Techncian | 37,200 BSD | +7% |
| Health Systems Specialist | 53,800 BSD | +55% |
| Health Technologist | 61,400 BSD | +77% |
| Healthcare Data Analyst | 48,800 BSD | +40% |
| Hearing Aid Specialist | 50,800 BSD | +46% |
| Histotechnologist | 58,000 BSD | +67% |
| Immunologist | 89,600 BSD | +160% |
| Industrial Hygienist | 62,300 BSD | +79% |
| Infection Control Coordinator | 46,200 BSD | +33% |
| Infection Control Practitioner | 95,700 BSD | +180% |
| Infection Preventionist | 69,900 BSD | +100% |
| Informatics Practice Specialist | 55,400 BSD | +59% |
| Interventional Radiographer | 77,300 BSD | +120% |
| Lab Assistant | 35,100 BSD | +1% |
| Laboratory Manager | 65,000 BSD | +87% |
| Laboratory Technician | 34,800 BSD | +0% |
| Low Vision Therapist | 81,600 BSD | +130% |
| Mammography Technician | 36,500 BSD | +5% |
| Medical Coder | 32,100 BSD | -8% |
| Medical Courier | 25,500 BSD | -27% |
| Medical Equipment Preparer | 38,000 BSD | +9% |
| Medical Forms Designer | 31,600 BSD | -9% |
| Medical Technologist | 41,900 BSD | +20% |
| MRI Technologist | 38,300 BSD | +10% |
| Music Therapist | 55,800 BSD | +60% |
| Neonatologist | 107,000 BSD | +210% |
| Neurodiagnostic Techncian | 36,800 BSD | +6% |
| Neuropsychology Testing Assistant | 34,400 BSD | -1% |
| Nuclear Medical Technician | 54,100 BSD | +56% |
| Nuclear Medicine Technolgoist | 51,000 BSD | +47% |
| Nutrition Assistant | 36,200 BSD | +4% |
| Occupaitional Therapy Assistant | 40,800 BSD | +17% |
| Operating Room Scheduler | 36,400 BSD | +5% |
| Operating Room Services Director | 104,000 BSD | +200% |
| Ophthalmic Assistant | 39,200 BSD | +13% |
| Ophthalmic Laboratory Technician | 39,800 BSD | +14% |
| Optician | 80,800 BSD | +130% |
| Orthopedic Technician | 39,300 BSD | +13% |
| Orthoptist | 112,000 BSD | +220% |
| Orthotist | 103,000 BSD | +200% |
| Pathology Assistant | 37,600 BSD | +8% |
| Perfusionist | 124,000 BSD | +260% |
| Phlebotomist | 29,400 BSD | -15% |
| Pre Authorization Case Manager | 55,000 BSD | +58% |
| Prosthetist | 85,900 BSD | +150% |
| Radiation Therapist | 133,000 BSD | +280% |
| Radiation Therapy Technologist | 52,600 BSD | +51% |
| Radiographer | 86,500 BSD | +150% |
| Radiography Technologist | 53,500 BSD | +54% |
| Radiologic Technologist | 51,900 BSD | +49% |
| Radiology Technologist | 54,800 BSD | +58% |
| Respiratory Care Practitioner | 101,000 BSD | +190% |
| Respiratory Therapist | 77,300 BSD | +120% |
| Respiratory Therapy Technician | 45,000 BSD | +29% |
| Sonographer | 56,500 BSD | +62% |
| Sonography Technologist | 56,500 BSD | +62% |
| Speech and Language Pathologist | 83,100 BSD | +140% |
| Ultrasonographer | 45,200 BSD | +30% |
| Ultrasound Technologist | 43,100 BSD | +24% |
| Vascular Technologist | 36,100 BSD | +4% |
| X-Ray Technologist | 53,700 BSD | +54% |
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 Bahamas is 10% on average across all career fields.
| Private Sector | 45,300 BSD | |
| Public Sector | +10% | 50,000 BSD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Laboratory Technician in Bahamas?
A good and competitive compensation would range anywhere between 31,100 BSD and 35,100 BSD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
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 for a careers like Laboratory Technician in Bahamas ranges from 26,000 BSD to 35,100 BSD. The base salary depends on many factors including 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
