Average Salary in Guyana 2024

Discover the dynamics of salary in Guyana with this comprehensive article. Unveiling the vast pay scale and wage gap within the country, we dive deep into the yearly increments that shape the salary structure. Exploring how education level and years of experience influence earning potential, this insightful piece offers a breakdown of the different factors contributing to salaries in Guyana. Stay informed and gain valuable insights into the fascinating world of earnings in this vibrant South American nation.
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 Guyana in 2024?

What is the average salary in Guyana in 2024?
440USD
(USD 5,200 yearly)
Low 200 USD
Average 440 USD
High 2,000 USD
In Guyana, the average salary is USD 440 per month. However, salaries can range from USD 200 (lowest average) to USD 2,000 (highest average, actual maximum salary is higher). Keep in mind that these salaries include housing, transport, and other benefits. Careers can have vastly different salary ranges. For specific job titles and their corresponding salaries, please refer below.
In comparison with average salary in Guyana in 2023, salaries changed by +0.8% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison between 2023 and 2024 will be conducted by the year's end.

Pay Scale and Salaries in Guyana

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 2,000, 75% of the people earn USD 600 or less. 50% employees earn less USD 420 or less, 25% of the employees earn less than USD 320.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 2,000, 75% of the people earn USD 600 or less. 50% employees earn less USD 420 or less, 25% of the employees earn less than USD 320.

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 Guyana the minimum salary is USD 200.

Median Salary

By considering the median salary in Guyana of USD 350, one can understand the middle point of all salaries in a dataset. This measurement provides a fairer assessment of income distribution and is commonly employed to estimate 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 Guyana the salary ranges from USD 200 to USD 2,000.

Annual Salary Increments in Guyana

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

During 2024, employees in Guyana witnessed an average salary growth of 0.8%. This represents an overall average across various job sectors. The worldwide average for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024 employees in Guyana received around 0.8% salary increase. Please note that this is average across all job sectors. In comparison worldwide average for 2024 is 0.8%.

Historical Graph of Annual Salary Increments in Guyana

In the past years, employees in Guyana have seen their salaries rise by an average of 3.9% per year. The increment ranges from 0.8% to 7.6% per year on average.Download chartGet chart linkShare on FacebookShare on Twitter
Guyana employees have, on average, received a yearly salary increase of 3.9% in recent years. The increment has ranged from 0.8% to 7.6% per year.

Salary Forecast and Trends for the Future in Guyana

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 3.5%. Estimated range is between 1.9% and 5.4%.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 3.5%. Estimated range is between 1.9% and 5.4%.

Gender Wage Gap in Guyana

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

The gender pay gap in Guyana is currently 5.0%.Download chartGet chart linkShare on FacebookShare on Twitter
Actual wage gap in Guyana is 5.0%.
It's due to many factors, such as:
  • Gender disparity.
  • On average, women take 10% more days of paid vacation than men each year.
  • Women are less likely than men to have a college degree.
  • Compared to men, women are more likely to take on caregiving responsibilities for children and elderly relatives.
  • The likelihood of women working part-time is higher than that of men, and part-time workers generally 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?

Completing high school and attaining a bachelor's degree yields a host of benefits. Above all, it significantly enhances career prospects by increasing earning potential and broadening access to a greater variety of job opportunities. 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. demonstrates a strong dedication to knowledge and paves the way for a successful 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 15%-19% 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 8%-12%. Expertise and leadership receive higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 18%-22% 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 15%-19% 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 nearly 8%-12%. Expertise and leadership secure 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 18%-22% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Guyana

What is the average hourly wage in the Guyana?

Average Hourly Wage
3USD
Low 1 USD
Average 3 USD
High 11 USD

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

  • Income instability: Hourly wages may result in irregular or fluctuating income, making 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 usually connected 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: Job insecurity may be more prevalent in hourly positions than in salaried positions, as they are susceptible to layoffs, downsizing, or changes in demand.
  • 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 Guyana

What are the best paying jobs in Guyana?

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

Highest paying jobs Guyana?

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

Lowest paying jobs Guyana?

  1. Cashier (USD 210)
  2. Childcare Worker (USD 220)
  3. Stock clerk (USD 220)
  4. Elder Care Worker (USD 220)
  5. Receptionist (USD 230)
  6. Bartender (USD 250)
  7. Food and beverage server (USD 250)
  8. Janitor (USD 250)
  9. Waiter (USD 260)
  10. Tour Guide (USD 260)
  11. Customer Service Representative (USD 310)
  12. Hotel Concierge (USD 310)
  13. Rehabilitation Counselor (USD 320)
  14. Travel Agent (USD 340)
  15. Secretary (USD 360)
  16. Painter (USD 370)
  17. Carpenter (USD 380)
  18. Bus Driver (USD 390)
  19. Artist (USD 390)
  20. Truck Driver (USD 400)
List with best paid industries in GuyanaDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 1,300)
  2. Business and Management (USD 1,100)
  3. Marketing and Sales (USD 950)
  4. Engineering (USD 870)
  5. Law (USD 830)
  6. Accounting and Finance (USD 820)
  7. Computer and Information Technology (USD 800)
  8. Transportation and Logistics (USD 780)
  9. Science (USD 780)
  10. Education and Training (USD 650)
  11. Other (USD 480)
  12. Hospitality and Tourism (USD 400)
  13. Social Services (USD 330)
  14. Services (USD 300)