Average Salary in Gibraltar 2024

Looking to understand the salary landscape in Gibraltar? This comprehensive article covers various aspects such as the pay scale, wage gap, salary yearly increments, and breakdown by education level or years of experience. Gain valuable insights into the localized job market, discover potential career growth opportunities, and make informed decisions regarding salaries. Stay ahead of the competition with this must-read guide on Gibraltar's salary trends.
Please be aware that the data we are providing is as accurate as possible at this early stage of the year 2024.

However, as we gather more data for 2024, we make adjustments to ensure the highest level of precision.

What is the average salary in Gibraltar in 2024?

What is the average salary in Gibraltar in 2024?
3,600USD
(USD 42,100 yearly)
Low 1,600 USD
Average 3,600 USD
High 15,500 USD
In Gibraltar, individuals usually earn an average salary of USD 3,600 per month. Nonetheless, salaries can span from USD 1,600 (lowest average) to USD 15,500 (highest average, actual maximum salary is higher). The indicated salary incorporates housing, transport, and other benefits. There are significant variations in salaries across diverse professions. To find out about specific job titles and their respective salaries, please see the information below.
In comparison with average salary in Gibraltar in 2023, salaries changed by +0.9% so far. Looking ahead, economists project a gradual recovery in the job market. The full comparison between 2023 and 2024 will be available by the year's end.

Pay Scale and Salaries in Gibraltar

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 15,500, 75% of the people earn USD 4,900 or less. 50% employees earn less USD 3,400 or less, 25% of the employees earn less than USD 2,600.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 15,500, 75% of the people earn USD 4,900 or less. 50% employees earn less USD 3,400 or less, 25% of the employees earn less than USD 2,600.

Minimum Wage and Starting Salary

Minimum Wage and Starting Salary refers to the fundamental pay levels for entry-level positions. It encompasses the legally mandated minimum wage and the initial compensation offered to new hires, impacting job seekers and employers alike. Understanding these figures is crucial for ensuring fair labor practices and successful career beginnings. In Gibraltar the minimum salary is USD 1,600.

Median Salary

With half of the values above and half below it, the median salary in Gibraltar serves as the middle point of all salaries in a dataset. This measurement provides a more balanced representation of income distribution and is commonly utilized to determine average earnings in various professions and industries.

Salary range and Percentile

Salary Range refers to the span between the lowest and highest salaries in a given dataset, indicating the scope of potential earnings. Percentile, on the other hand, represents a specific point in the range, showing how a salary compares to others in the dataset, making it useful for benchmarking pay levels. In Gibraltar the salary ranges from USD 1,600 to USD 15,500.

Annual Salary Increments in Gibraltar

What is the average annual salary increment in the Gibraltar? How frequently do employees receive salary raises?

In 2024, Gibraltar employees received an average salary increase of 0.9%. It's essential to note that this is an average figure across all job sectors. Globally, the average salary increment for 2024 is 0.9%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024 employees in Gibraltar received around 0.9% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.9%.

Historical Graph of Annual Salary Increments in Gibraltar

Employees in Gibraltar received in recent years salary increase from 0.9% to 6.5% on average per year. It means 3.9% increment per year on average.Download chartGet chart linkShare on FacebookShare on Twitter
On average, employees in Gibraltar experienced a salary increase ranging from 0.9% to 6.5% per year in recent years. This translates to an average increment of 3.9% per year.

Salary Forecast and Trends for the Future in Gibraltar

There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 4.1%. Estimated range is between 2.3% and 6.3%.Download chartGet chart linkShare on FacebookShare on Twitter
There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 4.1%. Estimated range is between 2.3% and 6.3%.

Gender Wage Gap in Gibraltar

What is the difference in pay between mens and womens? Men vs. women salary comparison.

11.0% is the current wage gap in Gibraltar.Download chartGet chart linkShare on FacebookShare on Twitter
In Gibraltar, the gender wage gap is 11.0%.
It's due to many factors, such as:
  • Bias towards a particular gender.
  • On average, women take 10% longer vacations than men each year.
  • Women are less likely than men to have a college degree.
  • Caregiving responsibilities for children and elderly relatives are more often taken on by women than men.
  • In comparison to men, women are more prone to working part-time, resulting in lower earnings compared to full-time workers.
  • Women generally find themselves working in lower-paying occupations compared to men.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

High school completion and achieving a bachelor's degree offer numerous advantages. Primarily, they substantially improve career prospects, resulting in increased earning potential and wider job options. Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge.Download chartGet chart linkShare on FacebookShare on Twitter

The Benefits of Transitioning from High School to a Bachelor's Degree

The completion of high school and the acquisition of a bachelor's degree offer a myriad of benefits. Above all, it greatly enhances career prospects, resulting in higher earning potential and expanded job possibilities. Apart from financial rewards, pursuing a bachelor's degree fosters personal growth, nurtures critical thinking skills, and provides the chance to specialize in a specific area of interest. It also facilitates valuable networking opportunities and encourages the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative experience that paves the way for a more fulfilling and prosperous future.

The Advantages of Progressing from a Bachelor's to a Master's Degree

Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. This advanced education often leads to even greater earning potential and career advancement opportunities. Additionally, master's programs often emphasize research and critical thinking, honing these skills for practical application in professional settings. Networking opportunities expand further, connecting students with experts in their fields. Lastly, pursuing a master's degree is a significant personal achievement, reflecting dedication and a commitment to lifelong learning, which can contribute to personal growth and fulfillment.

The Advantages of Advancing from a Master's to a Ph.D. Degree

Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge. This expertise often leads to prestigious career opportunities in academia, research, and leadership positions in various sectors. Ph.D. programs foster advanced critical thinking, problem-solving, and analytical skills, making graduates highly adaptable and innovative. Networking opportunities expand even further, with collaborations and connections in the global academic and professional communities. Pursuing a Ph.D. signifies an unwavering commitment to intellectual growth and the pursuit of a rewarding and influential career.

Salary Breakdown Based on Career Levels

How does an individual's salary evolve as time goes on?

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 13%-17% higher, reflecting higher skill level and value to the company. Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of close to 10%-14%. Expertise and leadership receive higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 19%-23% higher, mirroring strategic influence and heightened leadership contributions.Download chartGet chart linkShare on FacebookShare on Twitter

Salary increase going from Junior to Intermediate

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 13%-17% higher, reflecting higher skill level and value to the company.

Elevation from Intermediate to Senior Role Brings Salary Advancement

Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of approximately 10%-14%. Expertise and leadership yield higher recognition and greater financial rewards.

Executive Promotion: Salary Increase from Senior Position

Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 19%-23% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Gibraltar

What is the average hourly wage in the Gibraltar?

Average Hourly Wage
21USD
Low 9 USD
Average 21 USD
High 91 USD

What are the disadvantages of being paid on an hourly wage basis?

  • Income instability: Planning for expenses and budgeting can be challenging when dealing with hourly wages that result in irregular or fluctuating income.
  • Limited earning potential: Hourly workers may face limitations in terms of the number of hours they can work, which can restrict their earning potential compared to salaried positions.
  • Lack of benefits: Hourly workers often have fewer or limited benefits such as paid time off, health insurance, retirement plans, and other perks normally attributed to full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can disturb work-life balance and make it difficult to maintain consistent routines.
  • Uncertain job security: Job insecurity can be higher in hourly positions compared to salaried positions due to susceptibility to layoffs, downsizing, or changes in demand.
  • Limited career advancement: There are instances where hourly employment offers restricted opportunities for career growth, professional development, or upward mobility within the organization.
It's important to note that these disadvantages may not apply universally and can vary depending on specific job circumstances and individual preferences.

Highest and Lowest Paying Jobs in Gibraltar

What are the best paying jobs in Gibraltar?

List with best paid jobs in GibraltarDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs Gibraltar?

  1. Surgeon (USD 15,300)
  2. Doctor (USD 13,900)
  3. Chief Executive Officer (CEO) (USD 13,200)
  4. Registered Nurse Anesthetist (USD 12,900)
  5. Dentist (USD 12,300)
  6. Airline Pilot (USD 11,900)
  7. Intellectual Property Lawyer (USD 11,500)
  8. Marketing Manager (USD 10,200)
  9. Marketing Director (USD 10,200)
  10. Sales Director (USD 9,600)
  11. Sales Manager (USD 9,600)
  12. Petroleum Engineer (USD 9,500)
  13. Brand Manager (USD 9,300)
  14. Marketer (USD 9,300)
  15. Judge (USD 9,100)
  16. Treasurer (USD 9,000)
  17. Controller (USD 9,000)
  18. Pharmacist (USD 8,800)
  19. Tax Lawyer (USD 8,700)
  20. Lawyer (USD 8,700)
List with worst paid jobs in GibraltarDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Gibraltar?

  1. Cashier (USD 1,700)
  2. Childcare Worker (USD 1,800)
  3. Stock clerk (USD 1,800)
  4. Elder Care Worker (USD 1,800)
  5. Receptionist (USD 1,900)
  6. Bartender (USD 2,000)
  7. Food and beverage server (USD 2,100)
  8. Janitor (USD 2,100)
  9. Waiter (USD 2,100)
  10. Tour Guide (USD 2,100)
  11. Customer Service Representative (USD 2,500)
  12. Hotel Concierge (USD 2,600)
  13. Rehabilitation Counselor (USD 2,600)
  14. Travel Agent (USD 2,800)
  15. Secretary (USD 2,900)
  16. Painter (USD 3,000)
  17. Carpenter (USD 3,100)
  18. Bus Driver (USD 3,200)
  19. Artist (USD 3,200)
  20. Truck Driver (USD 3,200)
List with best paid industries in GibraltarDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 9,800)
  2. Business and Management (USD 8,400)
  3. Marketing and Sales (USD 7,700)
  4. Engineering (USD 7,100)
  5. Law (USD 6,700)
  6. Accounting and Finance (USD 6,700)
  7. Computer and Information Technology (USD 6,500)
  8. Transportation and Logistics (USD 6,400)
  9. Science (USD 6,300)
  10. Education and Training (USD 5,300)
  11. Other (USD 3,900)
  12. Hospitality and Tourism (USD 3,300)
  13. Social Services (USD 2,700)
  14. Services (USD 2,500)