Average Account Officer Salary in Bahamas for 2024

In this article, we will look at the average Account Officer salary for 2024 in Bahamas and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Bahamian dollar. To keep things simple, we are using the BSD currency code instead of the currency symbol $.

How Much Does an Account Officer Make in Bahamas?

An Account Officer working in Bahamas will typically earn around 30,800 BSD per year, and this can range from the lowest average salary of about 14,200 BSD to the highest average salary of 47,800 BSD.

Average Annual Salary
30,800 BSD
Average Monthly Salary
2,566 BSD

Lowest Annual Salary
14,200 BSD
Lowest Monthly Salary
1,183 BSD

Highest Annual Salary
47,800 BSD
Highest Monthly Salary
3,983 BSD

These are average salaries for an Account Officer in Bahamas and include benefits such as housing and transport. It's also possible for an Account Officer to earn more or less than the average salaries shown above.

Account Officer salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Account Officer Salaries in Bahamas

So we've looked at the average salaries an Account Officer will earn in Bahamas. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Account Officer can earn between 14,200 BSD and 47,800 BSD on average in Bahamas. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Account Officer in Bahamas is 32,900 BSD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 32,900 BSD, and 50% of the population earn more than 32,900 BSD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Account Officer salary in Bahamas, 25% of the population are earning less than 21,200 BSD while 75% of the population earn more than 21,200 BSD.

75% of the population earn less than 42,000 BSD, and 25% of the population earn more than 42,000 BSD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Account Officer Salary by Experience Level in Bahamas

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average account officer salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Account Officer in Bahamas that has less than two years of experience can expect to earn somewhere in the region of 15,300 BSD.
  • 2 - 5 Years Experience. With two to five years of experience the average Account Officer salary would increase to 25,300 BSD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Account Officer, the average salary would be 30,200 BSD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 36,800 BSD.
  • 15 - 20 Years Experience. An Account Officer with 15 to 20 years of experience can earn an average of 39,800 BSD.
  • 20+ Years Experience. For an Account Officer with more than 20 years, the expected average salary increases to 43,100 BSD.

Average Salary by Experience Chart

0-2 Years
15,300 BSD
2-5 Years +42%
25,300 BSD
5-10 Years +31%
30,200 BSD
10-15 Years +23%
36,800 BSD
15-20 Years +6%
39,800 BSD
20+ Years +10%
43,100 BSD

Account Officer Salary by Education Level in Bahamas

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Account Officer in Bahamas based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. An Account Officer in Bahamas with a high school education can earn an average salary of 21,700 BSD.

  • Certificate or Diploma. An Account Officer in Bahamas with a certificate or diploma education can earn an average salary of 29,100 BSD.

  • Bachelor's Degree. An Account Officer in Bahamas with a bachelor's degree education can earn an average salary of 40,200 BSD.

Average Salary by Education Chart

High School
21,700 BSD
Certificate or Diploma +47%
29,100 BSD
Bachelor's Degree +34%
40,200 BSD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Bahamas is around 19,500 to 58,400 BSD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Account Officer Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Bahamas, a male account officer will earn an average of 30,200 BSD, while a female account officer will earn around 27,300 BSD.

This means that a male account officer earns approximately 11% more than a female account officer for performing the same job.

Average Salary by Gender Chart in Bahamas

Male
30,200 BSD
Female -11%
27,300 BSD

Account Officer Average Pay Raise in Bahamas

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Account Officer in Bahamas is around 8% every 27 months.

The national average pay raise across all professions and industries in Bahamas is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 27 ) × 12  = 4%

What this means is that an Account Officer in Bahamas can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Bahamas for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Bahamas.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Account Officer Bonus and Incentive Rates in Bahamas

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Account Officer is a low bonus based job, with 38% of employees reporting at least one bonus in the last 12 months.

62% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
38%
No Bonus
62%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Bahamas earn approximately 11% more than private sector employees in the same role.

Public Sector
51,500 BSD
Private Sector -11%
46,300 BSD

Salaries for Jobs Similar to an Account Officer

In the table below, we have salary information for jobs that are similar to an Account Officer in Bahamas.

Job Title Category Salary
Account Manager Sales Retail and Wholesale 53,600 BSD
Area Manager Sales Retail and Wholesale 58,000 BSD
Area Sales Director Sales Retail and Wholesale 93,800 BSD
Area Sales Manager Sales Retail and Wholesale 76,000 BSD
Assisstant Store Supervisor Sales Retail and Wholesale 31,800 BSD
Assistant Department Manager Sales Retail and Wholesale 35,400 BSD
Assistant Retail Store Manager Sales Retail and Wholesale 44,700 BSD
Branch Manager Sales Retail and Wholesale 63,000 BSD
Branch Supervisor Sales Retail and Wholesale 49,800 BSD
Cashier Sales Retail and Wholesale 18,800 BSD
Cashier Manager Sales Retail and Wholesale 42,800 BSD
Commercial Sales Manager Sales Retail and Wholesale 78,200 BSD
Corporate Sales Manager Sales Retail and Wholesale 67,900 BSD
Depot Manager Sales Retail and Wholesale 53,600 BSD
Depot Supervisor Sales Retail and Wholesale 48,500 BSD
Deputy Sales Manager Sales Retail and Wholesale 54,300 BSD
Director of Sales Sales Retail and Wholesale 97,600 BSD
Distribution Director Sales Retail and Wholesale 67,400 BSD
District Leader Sales Retail and Wholesale 45,600 BSD
District Manager Sales Retail and Wholesale 56,800 BSD
District Sales Manager Sales Retail and Wholesale 57,200 BSD
External Sales Account Manager Sales Retail and Wholesale 58,600 BSD
Field Sales Representative Sales Retail and Wholesale 36,200 BSD
Furniture Sales Associate Sales Retail and Wholesale 25,800 BSD
Global Wholesale Manager Sales Retail and Wholesale 99,700 BSD
Head Cashier Sales Retail and Wholesale 36,700 BSD
Head of Direct Sales Sales Retail and Wholesale 71,000 BSD
Head of Retail Sales Retail and Wholesale 73,500 BSD
Head Teller Sales Retail and Wholesale 37,800 BSD
Inside Sales Sales Retail and Wholesale 29,200 BSD
Inside Sales Account Manager Sales Retail and Wholesale 48,600 BSD
Inside Sales Engineer Sales Retail and Wholesale 34,300 BSD
Inside Sales Executive Sales Retail and Wholesale 51,100 BSD
Inside Sales Representative Sales Retail and Wholesale 32,200 BSD
Internal Sales Manager Sales Retail and Wholesale 54,700 BSD
Inventory Manager Sales Retail and Wholesale 53,600 BSD
Key Account Manager Sales Retail and Wholesale 54,100 BSD
Medical Device Sales Sales Retail and Wholesale 45,000 BSD
Medical Device Sales Representative Sales Retail and Wholesale 44,700 BSD
Merchandiser Sales Retail and Wholesale 34,400 BSD
National Account Manager Sales Retail and Wholesale 77,300 BSD
National Customer Solution Specialist Sales Retail and Wholesale 65,100 BSD
National Sales Manager Sales Retail and Wholesale 105,800 BSD
Outside Sales Representative Sales Retail and Wholesale 39,100 BSD
Parts Salesperson Sales Retail and Wholesale 32,900 BSD
Project Development Manager Sales Retail and Wholesale 60,000 BSD
Project Manager Sales Retail and Wholesale 59,800 BSD
Project Sales Executive Sales Retail and Wholesale 59,800 BSD
Purchasing and Sales Executive Sales Retail and Wholesale 85,500 BSD
Quotation Engineer Sales Retail and Wholesale 31,200 BSD
Regional Sales Director Sales Retail and Wholesale 100,200 BSD
Regional Sales Manager Sales Retail and Wholesale 105,800 BSD
Relationship Manager Sales Retail and Wholesale 67,800 BSD
Retail Merchandiser Sales Retail and Wholesale 22,200 BSD
Retail Operations Manager Sales Retail and Wholesale 58,500 BSD
Retail Sales Associate Sales Retail and Wholesale 45,000 BSD
Retail Sales Representative Sales Retail and Wholesale 34,900 BSD
Retail Salesperson Sales Retail and Wholesale 31,700 BSD
Retail Store Manager Sales Retail and Wholesale 58,400 BSD
Retail Store Sales Person Sales Retail and Wholesale 30,000 BSD
Revenue Manager Sales Retail and Wholesale 54,700 BSD
Sales Account Manager Sales Retail and Wholesale 64,100 BSD
Sales Admin Executive Sales Retail and Wholesale 76,600 BSD
Sales Administration Manager Sales Retail and Wholesale 71,000 BSD
Sales Analyst Sales Retail and Wholesale 57,800 BSD
Sales Assistant Sales Retail and Wholesale 22,800 BSD
Sales Associate Sales Retail and Wholesale 33,200 BSD
Sales Consultant Sales Retail and Wholesale 44,200 BSD
Sales Coordinator Sales Retail and Wholesale 30,700 BSD
Sales Development Representative Sales Retail and Wholesale 36,700 BSD
Sales Director Sales Retail and Wholesale 96,600 BSD
Sales Engineer Sales Retail and Wholesale 33,300 BSD
Sales Executive Sales Retail and Wholesale 59,800 BSD
Sales Manager Sales Retail and Wholesale 86,800 BSD
Sales Officer Sales Retail and Wholesale 32,300 BSD
Sales Planner Sales Retail and Wholesale 49,300 BSD
Sales Planning Analyst Sales Retail and Wholesale 53,800 BSD
Sales Representative Sales Retail and Wholesale 31,300 BSD
Sales Service Associate Sales Retail and Wholesale 27,300 BSD
Sales Specialist Sales Retail and Wholesale 48,600 BSD
Sales Supervisor Sales Retail and Wholesale 46,700 BSD
Sales Support Sales Retail and Wholesale 23,800 BSD
Sales Support Manager Sales Retail and Wholesale 49,800 BSD
Sales Team Leader Sales Retail and Wholesale 53,300 BSD
Sales Trainer Sales Retail and Wholesale 56,400 BSD
Securities Sales Agent Sales Retail and Wholesale 54,100 BSD
Shipper / Receiver Sales Retail and Wholesale 23,800 BSD
Shop Manager Sales Retail and Wholesale 51,300 BSD
Store Development Administrator Sales Retail and Wholesale 40,300 BSD
Store Manager Sales Retail and Wholesale 61,500 BSD
Territory Sales Manager Sales Retail and Wholesale 76,000 BSD
Territory Sales Representative Sales Retail and Wholesale 44,300 BSD
Trade Marketing Officer Sales Retail and Wholesale 53,300 BSD
Treasury Officer Sales Retail and Wholesale 48,600 BSD
Vice President Sales Sales Retail and Wholesale 76,900 BSD
Visual Merchandiser Sales Retail and Wholesale 27,000 BSD

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