Average Salary in Micronesia, Federated States of 2024

Explore the salary dynamics in Micronesia, Federated States of, as this article delves into an in-depth analysis of the pay scale, wage gap, yearly increments, and breakdown based on education level or years of experience. Gain valuable insights into the earning potential and the factors that influence salaries in this region, helping you make informed decisions for your career growth.
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 Micronesia, Federated States of in 2024?

What is the average salary in Micronesia, Federated States of in 2024?
360USD
(USD 4,400 yearly)
Low 170 USD
Average 360 USD
High 1,600 USD
The average salary in Micronesia, Federated States of is typically USD 360 per month. However, salaries can vary greatly, ranging from USD 170 (lowest average) to USD 1,600 (highest average, actual maximum salary is higher). These figures include housing, transport, and other benefits. Different careers offer significantly diverse salary opportunities. If you wish to explore salaries for specific job titles, they are listed below.
In comparison with average salary in Micronesia, Federated States of 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 Micronesia, Federated States of

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 1,600, 75% of the people earn USD 500 or less. 50% employees earn less USD 350 or less, 25% of the employees earn less than USD 270.Download chartGet chart linkShare on FacebookShare on Twitter

Salary Structure

Nearly everyone earns less than USD 1,600, 75% of the people earn USD 500 or less. 50% employees earn less USD 350 or less, 25% of the employees earn less than USD 270.

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 Micronesia, Federated States of the minimum salary is USD 170.

Median Salary

The median salary for Micronesia, Federated States of is USD 290, depicting the middle point of all salaries in a dataset. This figure provides a more balanced view of income distribution and is commonly used 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 Micronesia, Federated States of the salary ranges from USD 170 to USD 1,600.

Annual Salary Increments in Micronesia, Federated States of

What is the average annual salary increment in the Micronesia, Federated States of? How frequently do employees receive salary raises?

In 2024, Micronesia, Federated States of employees received an average salary increase of 0.8%. It's essential to note that this is an average figure across all job sectors. Globally, the average salary increment for 2024 is 0.8%.Download chartGet chart linkShare on FacebookShare on Twitter
The year 2024 saw employees in Micronesia, Federated States of receiving an average salary increment of 0.8%. This figure represents a cross-sectoral average. Comparatively, the global average for 2024 is 0.8%.

Historical Graph of Annual Salary Increments in Micronesia, Federated States of

On average, employees in Micronesia, Federated States of experienced a salary increase ranging from 0.8% to 5.0% per year in recent years. This translates to an average increment of 3.4% per year.Download chartGet chart linkShare on FacebookShare on Twitter
The salary of employees in Micronesia, Federated States of has been increasing in recent years, with an average yearly increment of 3.4%. The increment ranges from 0.8% to 5.0% per year.

Salary Forecast and Trends for the Future in Micronesia, Federated States of

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 3.7%. Estimated range is between 2.0% and 5.6%.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 3.7%. Estimated range is between 2.0% and 5.6%.

Gender Wage Gap in Micronesia, Federated States of

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

In Micronesia, Federated States of, the actual wage gap amounts to 5.0%.Download chartGet chart linkShare on FacebookShare on Twitter
Actual wage gap in Micronesia, Federated States of is 5.0%.
It's due to many factors, such as:
  • Sexism.
  • On average, women use 10% more paid vacation days per year compared to men.
  • Women are underrepresented when it comes to having a college degree compared to men.
  • Taking up caregiving responsibilities for children and elderly relatives is more common among women than among men.
  • The majority of part-time workers are women, and they typically earn less than those in full-time positions.
  • Men are more likely to work in higher-paying occupations than women.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

Completing high school and obtaining a bachelor's degree brings a multitude of benefits. Firstly, it significantly enhances one's career prospects, leading to higher earning potential and access to a broader range 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

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. Along with financial rewards, pursuing a bachelor's degree promotes personal growth, cultivates critical thinking skills, and allows for specialization in a chosen field of interest. Furthermore, it facilitates valuable networking possibilities and fosters the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative path that opens doors to 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. 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 17%-21% 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 around 5%-9%. Expertise and leadership garner higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 17%-21% 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 17%-21% 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 5%-9%. 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 17%-21% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in Micronesia, Federated States of

What is the average hourly wage in the Micronesia, Federated States of?

Average Hourly Wage
2USD
Low 1 USD
Average 2 USD
High 9 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 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 challenging 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: Certain hourly positions may offer limited chances for career advancement, professional growth, or upward movement within the company.
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 Micronesia, Federated States of

What are the best paying jobs in Micronesia, Federated States of?

List with best paid jobs in Micronesia, Federated States ofDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs Micronesia, Federated States of?

  1. Surgeon (USD 1,600)
  2. Doctor (USD 1,500)
  3. Chief Executive Officer (CEO) (USD 1,400)
  4. Registered Nurse Anesthetist (USD 1,400)
  5. Dentist (USD 1,300)
  6. Airline Pilot (USD 1,300)
  7. Intellectual Property Lawyer (USD 1,200)
  8. Marketing Manager (USD 1,100)
  9. Marketing Director (USD 1,100)
  10. Sales Director (USD 980)
  11. Sales Manager (USD 980)
  12. Petroleum Engineer (USD 970)
  13. Brand Manager (USD 950)
  14. Marketer (USD 950)
  15. Judge (USD 930)
  16. Treasurer (USD 920)
  17. Controller (USD 920)
  18. Pharmacist (USD 900)
  19. Tax Lawyer (USD 890)
  20. Lawyer (USD 890)
List with worst paid jobs in Micronesia, Federated States ofDownload chartGet chart linkShare on FacebookShare on Twitter

Lowest paying jobs Micronesia, Federated States of?

  1. Cashier (USD 170)
  2. Childcare Worker (USD 180)
  3. Stock clerk (USD 190)
  4. Elder Care Worker (USD 190)
  5. Receptionist (USD 190)
  6. Bartender (USD 210)
  7. Food and beverage server (USD 210)
  8. Janitor (USD 210)
  9. Waiter (USD 210)
  10. Tour Guide (USD 220)
  11. Customer Service Representative (USD 260)
  12. Hotel Concierge (USD 260)
  13. Rehabilitation Counselor (USD 270)
  14. Travel Agent (USD 290)
  15. Secretary (USD 300)
  16. Painter (USD 310)
  17. Carpenter (USD 320)
  18. Bus Driver (USD 320)
  19. Artist (USD 330)
  20. Truck Driver (USD 330)
List with best paid industries in Micronesia, Federated States ofDownload chartGet chart linkShare on FacebookShare on Twitter

Highest paying jobs by industry

  1. Healthcare (USD 1,000)
  2. Business and Management (USD 850)
  3. Marketing and Sales (USD 790)
  4. Engineering (USD 730)
  5. Law (USD 690)
  6. Accounting and Finance (USD 680)
  7. Computer and Information Technology (USD 670)
  8. Transportation and Logistics (USD 650)
  9. Science (USD 650)
  10. Education and Training (USD 540)
  11. Other (USD 400)
  12. Hospitality and Tourism (USD 340)
  13. Social Services (USD 280)
  14. Services (USD 250)