Monthly wages in the Bahamas average 3,900 BSD (Bahamian Dollar), or about USD 3,898 (United States Dollars) in March 2022.
Monthly wages in the Bahamas can range from 990 BSD (about 989 USD) to 17,400 BSD (about 17,389 USD). This indicates that the median monthly income for a worker in the Bahamas is 4,050 BSD (or around 4,047 USD), while the median salary for a worker in the top quintile is more than 4,050 BSD.
Approximately USD 4,047 per month, or 4,050 Bahamian dollars, is the median or middle pay in the Bahamas. Therefore, 50% of Bahamian employees earn less than this, and 50% make more.
Bahamian minimum salary is 5.25 BSD per hour (approximately 5.25 USD), which comes to 42 BSD per day (about 42 USD) and 210 BSD per week (about 210 USD). As such, this is the very least an organization may compensate employees for their efforts.
The average pay rise for a Bahamian worker is 2% every year, or 5% over 28 months. The result is an annual compensation boost of 2% for most Bahamian workers.
On average, salaries in the Bahamas are higher in the tourism, banking, and construction sectors than in the education and healthcare sectors. To provide two examples, the average monthly wage in the tourism business is 6,800 BSD (about 6,793 USD), whereas, in the education sector, it is just 3,700 BSD (about 3,698 USD).
Workers in the Bahamas may expect to receive a wage higher than the national average if they have more than ten years of relevant job experience in their field. In the Bahamas, for instance, the average monthly wage for a person with less than a year of experience is 3,700 BSD (about 3,698 USD). In contrast, the monthly average wage for a worker with more than 20 years of experience is 5,800 BSD (about 5,796 USD).
Saving money by outsourcing to the Bahamas is possible due to the country’s low living costs, closeness to the United States, and highly educated labor population. Companies may take advantage of cheaper labor costs and get access to a pool of competent people by outsourcing some of their operations to the Bahamas.
Customer support, software development, and financial services are just a few frequently outsourced activities to the Bahamas. The Bahamas is a desirable location for outsourcing due to its proven expertise in these sectors and highly trained labor force.
