HOME BROWSE SALARIES BEST PAYING JOBS
Browse Salaries
Best Paying Jobs
Salary Increase Letters
Career Articles

Business Analyst Average Salary in Guyana 2021

How much money does a Business Analyst make in Guyana?


Average Monthly Salary
214,000 GYD
( 2,570,000 GYD yearly)

LOW
105,000
GYD
AVERAGE
214,000
GYD
HIGH
334,000
GYD

A person working as a Business Analyst in Guyana typically earns around 214,000 GYD per month. Salaries range from 105,000 GYD (lowest) to 334,000 GYD (highest).

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

Business Analyst Salary Distribution in Guyana

Median and salary distribution monthly Guyana Business Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/median-and-salary-distribution-monthly-guyana-business-analyst.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    Business Analyst salaries in Guyana range from 105,000 GYD per month (minimum salary) to 334,000 GYD per month (maximum salary).

  • Median Salary

    The median salary is 219,000 GYD per month, which means that half (50%) of people working as Business Analyst(s) are earning less than 219,000 GYD while the other half are earning more than 219,000 GYD. 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 Business Analyst(s) are earning less than 146,000 GYD while 75% of them are earning more than 146,000 GYD. Also from the diagram, 75% of Business Analyst(s) are earning less than 282,000 GYD while 25% are earning more than 282,000 GYD.


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

Business Analyst Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Guyana Business Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/salary-comparison-by-years-of-experience-monthly-guyana-business-analyst.jpg

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 Business Analyst salaries by experience level and this is what we found.

A Business Analyst with less than two years of experience makes approximately 125,000 GYD per month.

While someone with an experience level between two and five years is expected to earn 160,000 GYD per month, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 221,000 GYD per month, 38% 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, Business Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 274,000 GYD per month, 24% 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 293,000 GYD per month, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 313,000 GYD per month, 7% more than people with fifteen to twenty years of experience.


Business Analyst average salary change by experience in Guyana

0 - 2 Years
125,000 GYD
2 - 5 Years+29%
160,000 GYD
5 - 10 Years+38%
221,000 GYD
10 - 15 Years+24%
274,000 GYD
15 - 20 Years+7%
293,000 GYD
20+ Years+7%
313,000 GYD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Business Analyst Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Guyana Business Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/salary-comparison-by-education-level-monthly-guyana-business-analyst.jpg

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 Business Analyst salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Business Analyst is 155,000 GYD per month.

While someone with a Certificate or Diploma gets a salary of 178,000 GYD per month, 15% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 240,000 GYD per month, 35% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 302,000 GYD per month, 26% more than someone with Bachelor's Degree.


Business Analyst average salary difference by education level in Guyana

High School
155,000 GYD
Certificate or Diploma+15%
178,000 GYD
Bachelor's Degree+35%
240,000 GYD
Master's Degree+26%
302,000 GYD
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 Guyana costs anywhere from 876,000 Guyana Dollar(s) to 2,630,000 Guyana 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Business Analyst Salary Comparison By Gender

Salary comparison by gender monthly Guyana Business Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/salary-comparison-by-gender-monthly-guyana-business-analyst.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Business Analyst employees in Guyana earn 8% more than their female counterparts on average.

Male
221,000 GYD
Female-7%
205,000 GYD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Guyana for all Careers

Salary comparison by gender monthly Guyana
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/salary-comparison-by-gender-monthly-guyana.jpg

Business Analyst Average Annual Salary Increment Percentage in Guyana

How much are annual salary increments in Guyana for Business Analyst(s)? How often do employees get salary raises?

Business Analyst

Business Analyst(s) in Guyana are likely to observe a salary increase of approximately 9% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Guyana Business Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/annual-salary-increment-rate-guyana-business-analyst.jpg


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.

Guyana / 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 Guyana is 2%.

Annual Increment Rate By Industry 2020

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Listed above are the average annual increase rates for each industry in Guyana for the year 2020. 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

Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Business Analyst Bonus and Incentive Rates in Guyana

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Guyana Business Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/annual-salary-bonus-rate-guyana-business-analyst.jpg

A Business Analyst is considered to be a high 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.

36% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 64% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
64%
No Bonus
36%

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.

Business Analyst Average Hourly Wage in Guyana


1,240 GYD per hour

The average hourly wage (pay per hour) in Guyana is 1,240 GYD. This means that the average Business Analyst in Guyana earns approximately 1,240 GYD 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.

Business Analyst VS Other Jobs

Salary Comparison Between Business Analyst and Business Planning monthly Guyana
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/guyana/business-planning/business-analyst/salary-comparison-between-business-analyst-and-business-planning-monthly-guyana.jpg

The average salary for Business Analyst is 15% more than that of Business Planning. Also, Business Planning salaries are 6% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Assistant Business Development Manager225,000 GYD+5%
Assistant Merchandise Planner133,000 GYD-38%
Business Advisor218,000 GYD+2%
Business Analyst214,000 GYD-0%
Business Consultant207,000 GYD-3%
Business Continuity Associate122,000 GYD-43%
Business Development Associate110,000 GYD-49%
Business Development Coordinator112,000 GYD-48%
Business Development Manager264,000 GYD+23%
Business Development Specialist197,000 GYD-8%
Business Operations Specialist193,000 GYD-10%
Business Process Writer112,000 GYD-48%
Capacity Planner147,000 GYD-31%
Capacity Planning Supervisor195,000 GYD-9%
Change Communications Analyst183,000 GYD-15%
Change Control Analyst186,000 GYD-13%
Contracts Executive204,000 GYD-5%
Corporate Strategy Analyst199,000 GYD-7%
Cost Control Engineer127,000 GYD-41%
Cost Estimator140,000 GYD-35%
Data Executive104,000 GYD-51%
Development Researcher155,000 GYD-28%
Due Diligence Analyst220,000 GYD+3%
Estimating Manager222,000 GYD+4%
General Manager256,000 GYD+19%
Incident Handler146,000 GYD-32%
Incident Specialist178,000 GYD-17%
Lean Consultant149,000 GYD-30%
Manager283,000 GYD+32%
Materials Planner89,200 GYD-58%
Merchandise Controller90,800 GYD-58%
Merchandise Planner88,600 GYD-59%
Operations Analyst184,000 GYD-14%
Operations Research Analyst126,000 GYD-41%
Planning and Reporting Manager219,000 GYD+2%
Planning Director263,000 GYD+23%
Project Administrator135,000 GYD-37%
Project Manager206,000 GYD-4%
Project Planner125,000 GYD-42%
Research Assistant108,000 GYD-50%
Research Engineer131,000 GYD-39%
Research Officer101,000 GYD-53%
Risk Management Specialist188,000 GYD-12%
Scholarship Coordinator98,800 GYD-54%
Store Planner102,000 GYD-52%
Strategy Director295,000 GYD+38%
Top Research and Development Executive315,000 GYD+47%

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 Guyana earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
166,000 GYD
Public Sector+14%
189,000 GYD
Percentage increase and decrease are relative to the previous value

Browse Salaries

Salary Increase Letters

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2021