Average Salary in Grenada 2024

Discover the ins and outs of salary in Grenada through this comprehensive article. Explore the pay scale across various industries, uncover the wage gap, and delve into salary yearly increments. Gain valuable insights as we break down the differences in earnings according to education level or years of experience. With this knowledge at your fingertips, you can navigate the intricacies of Grenada's salary landscape and make informed decisions to maximize your earning potential.
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 Grenada in 2024?

What is the average salary in Grenada in 2024?
1,100USD
(USD 12,500 yearly)
Low 470 USD
Average 1,100 USD
High 4,600 USD
If you work in Grenada, your average salary will be approximately USD 1,100 per month. Salaries can vary, with the lowest average at USD 470 and the highest average at USD 4,600 (actual maximum salary is higher). The mentioned salary includes housing, transport, and other benefits. There is a significant salary disparity between different careers. For specific job titles and their corresponding salaries, please refer below.
In comparison with average salary in Grenada in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison 2023 and 2024 we are able to do it at the end of the year.

Pay Scale and Salaries in Grenada

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 4,600, 75% of the people earn USD 1,500 or less. 50% employees earn less USD 1,100 or less, 25% of the employees earn less than USD 760.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 4,600, 75% of the people earn USD 1,500 or less. 50% employees earn less USD 1,100 or less, 25% of the employees earn less than USD 760.

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 Grenada the minimum salary is USD 470.

Median Salary

Located in Grenada, the median salary is USD 830, signifying the middle point of all salaries in a dataset. This measurement offers a more equitable representation of income distribution and is widely used to gauge 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 Grenada the salary ranges from USD 470 to USD 4,600.

Annual Salary Increments in Grenada

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

In 2024, the average salary increase for employees in Grenada was around 0.8%. It's important to highlight that this figure is an average across all job sectors. Globally, the average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
During 2024, Grenada recorded an average salary increment of around 0.8% for its employees, spanning various job sectors. On a global scale, the average salary increase for 2024 is 0.8%.

Historical Graph of Annual Salary Increments in Grenada

Employees in Grenada received in recent years salary increase from 0.5% to 6.0% on average per year. It means 3.1% increment per year on average.Download chartGet chart linkShare on FacebookShare on Twitter
Employees in Grenada received in recent years salary increase from 0.5% to 6.0% on average per year. It means 3.1% increment per year on average.

Salary Forecast and Trends for the Future in Grenada

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 3.3%. Estimated range is between 1.8% and 5.1%.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 3.3%. Estimated range is between 1.8% and 5.1%.

Gender Wage Gap in Grenada

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

The gender pay gap in Grenada is currently 11.0%.Download chartGet chart linkShare on FacebookShare on Twitter
Grenada has an actual wage gap of 11.0%.
It's due to many factors, such as:
  • Discrimination based on gender.
  • On average, women take 10% more days of paid vacation than men each year.
  • Men are more inclined than women to possess a college degree.
  • When it comes to caregiving responsibilities for children and elderly relatives, women are more probable than men to take them on.
  • Women are more likely than men to work part-time, and part-time workers typically earn less than full-time workers.
  • Women are more likely to work in lower-paying occupations than 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

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. Besides financial benefits, pursuing a bachelor's degree fosters personal growth, sharpens critical thinking abilities, and enables specialization in a chosen field. It also provides valuable networking prospects and facilitates the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a life-altering path that opens doors to a more satisfying and successful 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 14%-18% 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 approximately 5%-9%. Expertise and leadership attain higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 23%-27% 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 14%-18% 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 roughly 5%-9%. Expertise and leadership earn 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 23%-27% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Grenada

What is the average hourly wage in the Grenada?

Average Hourly Wage
6USD
Low 3 USD
Average 6 USD
High 27 USD

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

  • Income instability: The irregular or fluctuating income from hourly wages may make it challenging to budget and plan for expenses.
  • 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 affiliated with full-time employment.
  • Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can upset work-life balance and make it difficult to maintain consistent routines.
  • Uncertain job security: Hourly positions are sometimes more susceptible to layoffs, downsizing, or changes in demand, which can lead to job insecurity compared to salaried positions.
  • Limited career advancement: There may be limited opportunities for career growth, professional development, or upward mobility within the organization in some hourly jobs.
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 Grenada

What are the best paying jobs in Grenada?

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

Highest paying jobs Grenada?

  1. Surgeon (USD 4,600)
  2. Doctor (USD 4,100)
  3. Chief Executive Officer (CEO) (USD 3,900)
  4. Registered Nurse Anesthetist (USD 3,900)
  5. Dentist (USD 3,700)
  6. Airline Pilot (USD 3,600)
  7. Intellectual Property Lawyer (USD 3,400)
  8. Marketing Manager (USD 3,000)
  9. Marketing Director (USD 3,000)
  10. Sales Director (USD 2,900)
  11. Sales Manager (USD 2,900)
  12. Petroleum Engineer (USD 2,800)
  13. Brand Manager (USD 2,800)
  14. Marketer (USD 2,800)
  15. Judge (USD 2,700)
  16. Treasurer (USD 2,700)
  17. Controller (USD 2,700)
  18. Pharmacist (USD 2,600)
  19. Tax Lawyer (USD 2,600)
  20. Lawyer (USD 2,600)
List with worst paid jobs in GrenadaDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Grenada?

  1. Cashier (USD 490)
  2. Childcare Worker (USD 520)
  3. Stock clerk (USD 530)
  4. Elder Care Worker (USD 530)
  5. Receptionist (USD 550)
  6. Bartender (USD 590)
  7. Food and beverage server (USD 600)
  8. Janitor (USD 600)
  9. Waiter (USD 610)
  10. Tour Guide (USD 620)
  11. Customer Service Representative (USD 740)
  12. Hotel Concierge (USD 750)
  13. Rehabilitation Counselor (USD 760)
  14. Travel Agent (USD 820)
  15. Secretary (USD 850)
  16. Painter (USD 880)
  17. Carpenter (USD 910)
  18. Bus Driver (USD 930)
  19. Artist (USD 930)
  20. Truck Driver (USD 950)
List with best paid industries in GrenadaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 2,900)
  2. Business and Management (USD 2,500)
  3. Marketing and Sales (USD 2,300)
  4. Engineering (USD 2,100)
  5. Law (USD 2,000)
  6. Accounting and Finance (USD 2,000)
  7. Computer and Information Technology (USD 2,000)
  8. Transportation and Logistics (USD 1,900)
  9. Science (USD 1,900)
  10. Education and Training (USD 1,600)
  11. Other (USD 1,200)
  12. Hospitality and Tourism (USD 960)
  13. Social Services (USD 790)
  14. Services (USD 720)