Average Salary in Isle of Man 2024

Discover the Isle of Man's salary landscape with insights into its pay scale, wage gap, and salary yearly increments. This article provides a comprehensive breakdown, taking into account education levels and years of experience. Gain valuable knowledge to better understand salary trends on the island and make informed decisions for your professional development.
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 Isle of Man in 2024?

What is the average salary in Isle of Man in 2024?
4,900USD
(USD 58,800 yearly)
Low 2,300 USD
Average 4,900 USD
High 21,600 USD
You can expect to earn around USD 4,900 per month if you work in Isle of Man. Keep in mind that salaries can range from USD 2,300 (lowest average) to USD 21,600 (highest average, actual maximum salary is higher). This average salary includes housing, transport, and other benefits. Salaries differ greatly depending on the career. For detailed salary information on specific job titles, please refer below.
In comparison with average salary in Isle of Man in 2023, salaries changed by +0.7% 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 this year.

Pay Scale and Salaries in Isle of Man

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 21,600, 75% of the people earn USD 6,800 or less. 50% employees earn less USD 4,800 or less, 25% of the employees earn less than USD 3,600.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 21,600, 75% of the people earn USD 6,800 or less. 50% employees earn less USD 4,800 or less, 25% of the employees earn less than USD 3,600.

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 Isle of Man the minimum salary is USD 2,300.

Median Salary

Located in Isle of Man, the median salary is USD 3,900, 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 Isle of Man the salary ranges from USD 2,300 to USD 21,600.

Annual Salary Increments in Isle of Man

What is the average annual salary increment in the Isle of Man? How frequently do employees receive salary raises?

The year 2024 saw employees in Isle of Man receiving an average salary increment of 0.7%. This figure represents a cross-sectoral average. Comparatively, the global average for 2024 is 0.7%.Download chartGet chart linkShare on FacebookShare on Twitter
In 2024, the average salary increase for employees in Isle of Man was around 0.7%. It's important to highlight that this figure is an average across all job sectors. Globally, the average for 2024 is 0.7%.

Historical Graph of Annual Salary Increments in Isle of Man

In the past years, employees in Isle of Man have seen their salaries rise by an average of 2.8% per year. The increment ranges from 0.4% to 5.0% per year on average.Download chartGet chart linkShare on FacebookShare on Twitter
In the past years, employees in Isle of Man have seen their salaries rise by an average of 2.8% per year. The increment ranges from 0.4% to 5.0% per year on average.

Salary Forecast and Trends for the Future in Isle of Man

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 2.8%. Estimated range is between 1.5% and 4.2%.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 2.8%. Estimated range is between 1.5% and 4.2%.

Gender Wage Gap in Isle of Man

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

9.0% is the current wage gap in Isle of Man.Download chartGet chart linkShare on FacebookShare on Twitter
Actual wage gap in Isle of Man is 9.0%.
It's due to many factors, such as:
  • Discrimination against a specific gender.
  • On average, women take 10% more days of paid vacation than men each year.
  • Compared to men, women are less likely to hold 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 inclined to pursue part-time jobs, and these jobs typically come with lower earnings compared to full-time positions.
  • Men, as opposed to women, are more likely to work in higher-paying occupations.

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 bring about a wealth of benefits. Most importantly, they greatly improve career prospects, leading to higher earning potential and a wider range of job opportunities. Beyond financial advantages, pursuing a bachelor's degree fosters personal growth, hones critical thinking skills, and allows for specialization in a specific field of interest. It also provides valuable networking opportunities and encourages the development of a global outlook. Ultimately, the journey from high school to a bachelor's degree is a transformative endeavor that unlocks 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. exemplifies a relentless pursuit of excellence and a path towards a transformative 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 18%-22% 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 12%-16%. Expertise and leadership attain 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 18%-22% 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 12%-16%. Expertise and leadership acquire 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 Isle of Man

What is the average hourly wage in the Isle of Man?

Average Hourly Wage
29USD
Low 13 USD
Average 29 USD
High 127 USD

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

  • Income instability: It can be challenging to budget and plan for expenses when the income from hourly wages is irregular or fluctuating.
  • 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 commonly associated 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 disrupt work-life balance and make it difficult to maintain consistent routines.
  • Uncertain job security: In comparison to salaried positions, hourly positions can face greater job insecurity as they are more prone 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 Isle of Man

What are the best paying jobs in Isle of Man?

List with best paid jobs in Isle of ManDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs Isle of Man?

  1. Surgeon (USD 21,400)
  2. Doctor (USD 19,300)
  3. Chief Executive Officer (CEO) (USD 18,400)
  4. Registered Nurse Anesthetist (USD 18,000)
  5. Dentist (USD 17,200)
  6. Airline Pilot (USD 16,600)
  7. Intellectual Property Lawyer (USD 16,000)
  8. Marketing Manager (USD 14,200)
  9. Marketing Director (USD 14,200)
  10. Sales Director (USD 13,300)
  11. Sales Manager (USD 13,300)
  12. Petroleum Engineer (USD 13,200)
  13. Brand Manager (USD 12,900)
  14. Marketer (USD 12,900)
  15. Judge (USD 12,700)
  16. Treasurer (USD 12,500)
  17. Controller (USD 12,500)
  18. Pharmacist (USD 12,200)
  19. Tax Lawyer (USD 12,100)
  20. Lawyer (USD 12,100)
List with worst paid jobs in Isle of ManDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Isle of Man?

  1. Cashier (USD 2,400)
  2. Childcare Worker (USD 2,500)
  3. Stock clerk (USD 2,500)
  4. Elder Care Worker (USD 2,500)
  5. Receptionist (USD 2,600)
  6. Bartender (USD 2,800)
  7. Food and beverage server (USD 2,900)
  8. Janitor (USD 2,900)
  9. Waiter (USD 2,900)
  10. Tour Guide (USD 2,900)
  11. Customer Service Representative (USD 3,500)
  12. Hotel Concierge (USD 3,600)
  13. Rehabilitation Counselor (USD 3,600)
  14. Travel Agent (USD 3,900)
  15. Secretary (USD 4,000)
  16. Painter (USD 4,200)
  17. Carpenter (USD 4,300)
  18. Bus Driver (USD 4,400)
  19. Artist (USD 4,400)
  20. Truck Driver (USD 4,500)
List with best paid industries in Isle of ManDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 13,700)
  2. Business and Management (USD 11,600)
  3. Marketing and Sales (USD 10,700)
  4. Engineering (USD 9,900)
  5. Law (USD 9,400)
  6. Accounting and Finance (USD 9,300)
  7. Computer and Information Technology (USD 9,100)
  8. Transportation and Logistics (USD 8,900)
  9. Science (USD 8,800)
  10. Education and Training (USD 7,300)
  11. Other (USD 5,400)
  12. Hospitality and Tourism (USD 4,600)
  13. Social Services (USD 3,700)
  14. Services (USD 3,400)