Average Bench Jeweler Salary in British Virgin Islands for 2024

In this article, we will look at the average Bench Jeweler salary for 2024 in British Virgin Islands 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 United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does a Bench Jeweler Make in British Virgin Islands?

A Bench Jeweler working in British Virgin Islands will typically earn around 7,300 USD per year, and this can range from the lowest average salary of about 4,400 USD to the highest average salary of 13,060 USD.

Average Annual Salary
7,300 USD
Average Monthly Salary
608 USD

Lowest Annual Salary
4,400 USD
Lowest Monthly Salary
366 USD

Highest Annual Salary
13,060 USD
Highest Monthly Salary
1,088 USD

These are average salaries for a Bench Jeweler in British Virgin Islands and include benefits such as housing and transport. It's also possible for a Bench Jeweler to earn more or less than the average salaries shown above.

Bench Jeweler 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 Bench Jeweler Salaries in British Virgin Islands

So we've looked at the average salaries a Bench Jeweler will earn in British Virgin Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Bench Jeweler can earn between 4,400 USD and 13,060 USD on average in British Virgin Islands. 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 a Bench Jeweler in British Virgin Islands is 10,100 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 10,100 USD, and 50% of the population earn more than 10,100 USD.

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 Bench Jeweler salary in British Virgin Islands, 25% of the population are earning less than 6,700 USD while 75% of the population earn more than 6,700 USD.

75% of the population earn less than 10,080 USD, and 25% of the population earn more than 10,080 USD.

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.

Bench Jeweler Salary by Experience Level in British Virgin Islands

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 bench jeweler 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. A Bench Jeweler in British Virgin Islands that has less than two years of experience can expect to earn somewhere in the region of 2,480 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Bench Jeweler salary would increase to 6,700 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bench Jeweler, the average salary would be 6,440 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 9,140 USD.
  • 15 - 20 Years Experience. A Bench Jeweler with 15 to 20 years of experience can earn an average of 8,880 USD.
  • 20+ Years Experience. For a Bench Jeweler with more than 20 years, the expected average salary increases to 12,520 USD.

Average Salary by Experience Chart

0-2 Years
2,480 USD
2-5 Years +34%
6,700 USD
5-10 Years +48%
6,440 USD
10-15 Years +22%
9,140 USD
15-20 Years +9%
8,880 USD
20+ Years +8%
12,520 USD

Bench Jeweler Salary by Education Level in British Virgin Islands

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 a Bench Jeweler in British Virgin Islands based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Bench Jeweler in British Virgin Islands with a high school education can earn an average salary of 5,780 USD.

  • Certificate or Diploma. A Bench Jeweler in British Virgin Islands with a certificate or diploma education can earn an average salary of 10,320 USD.

Average Salary by Education Chart

High School
5,780 USD
Certificate or Diploma +93%
10,320 USD

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 British Virgin Islands is around 9,160 to 27,500 USD 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.

Bench Jeweler 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 British Virgin Islands, a male bench jeweler will earn an average of 6,080 USD, while a female bench jeweler will earn around 9,020 USD.

This means that a male bench jeweler earns approximately 33% less than a female bench jeweler for performing the same job.

Average Salary by Gender Chart in British Virgin Islands

Male
6,080 USD
Female +33%
9,020 USD

Bench Jeweler Average Pay Raise in British Virgin Islands

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 a Bench Jeweler in British Virgin Islands is around 5% every 29 months.

The national average pay raise across all professions and industries in British Virgin Islands is around 4% every 29 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 = ( 5 ÷ 29 ) × 12  = 2%

What this means is that a Bench Jeweler in British Virgin Islands can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in British Virgin Islands for 2024

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

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

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Bench Jeweler Bonus and Incentive Rates in British Virgin Islands

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.

A Bench Jeweler is a low bonus based job, with 15% of employees reporting at least one bonus in the last 12 months.

85% 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 0% to 4%.

Received Bonus
15%
No Bonus
85%

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 British Virgin Islands earn approximately 11% more than private sector employees in the same role.

Public Sector
23,660 USD
Private Sector -11%
21,380 USD

Salaries for Jobs Similar to a Bench Jeweler

In the table below, we have salary information for jobs that are similar to a Bench Jeweler in British Virgin Islands.

Job Title Category Salary
Alterations Specialist Fashion and Apparel 9,020 USD
Barber Fashion and Apparel 9,440 USD
Clothing and Textile Technologist Fashion and Apparel 19,020 USD
Cosmetology Educator Fashion and Apparel 20,760 USD
Diamond Setter Fashion and Apparel 9,460 USD
Diamond Worker Fashion and Apparel 10,000 USD
Fabric Manager Fashion and Apparel 19,980 USD
Fashion Design Manager Fashion and Apparel 35,340 USD
Fashion Designer Fashion and Apparel 29,840 USD
Fashion Merchandiser Fashion and Apparel 14,920 USD
Fashion Model Fashion and Apparel 19,060 USD
Freelance Fashion Stylist Fashion and Apparel 31,520 USD
Garment Technologist Fashion and Apparel 19,640 USD
Hairstylist Fashion and Apparel 7,820 USD
Jeweler Fashion and Apparel 16,720 USD
Jewelry Mold Maker Fashion and Apparel 12,520 USD
Jewelry Polisher Fashion and Apparel 6,760 USD
Jewelry Sales Fashion and Apparel 13,560 USD
Plating Manager Fashion and Apparel 23,480 USD
Product Development Manager Fashion and Apparel 42,040 USD
Sewing Machine Operator Fashion and Apparel 6,960 USD
Shoe Sales Fashion and Apparel 9,960 USD
Supply Chain Manager Fashion and Apparel 37,200 USD
Tailor / Fitter Fashion and Apparel 7,800 USD
Trend Forecaster Fashion and Apparel 20,940 USD
Visual Merchandising Coordinator Fashion and Apparel 13,560 USD
Visual Merchandising Projects Manager Fashion and Apparel 33,440 USD

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