Average Binder and Finisher Salary in Grenada for 2024

In this article, we will look at the average Binder and Finisher salary for 2024 in Grenada 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 Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does a Binder and Finisher Make in Grenada?

A Binder and Finisher working in Grenada will typically earn around 31,540 XCD per year, and this can range from the lowest average salary of about 15,760 XCD to the highest average salary of 42,960 XCD.

Average Annual Salary
31,540 XCD
Average Monthly Salary
2,628 XCD

Lowest Annual Salary
15,760 XCD
Lowest Monthly Salary
1,313 XCD

Highest Annual Salary
42,960 XCD
Highest Monthly Salary
3,580 XCD

These are average salaries for a Binder and Finisher in Grenada and include benefits such as housing and transport. It's also possible for a Binder and Finisher to earn more or less than the average salaries shown above.

Binder and Finisher 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 Binder and Finisher Salaries in Grenada

So we've looked at the average salaries a Binder and Finisher will earn in Grenada. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Binder and Finisher can earn between 15,760 XCD and 42,960 XCD on average in Grenada. 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 Binder and Finisher in Grenada is 29,040 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 29,040 XCD, and 50% of the population earn more than 29,040 XCD.

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 Binder and Finisher salary in Grenada, 25% of the population are earning less than 18,940 XCD while 75% of the population earn more than 18,940 XCD.

75% of the population earn less than 31,520 XCD, and 25% of the population earn more than 31,520 XCD.

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.

Binder and Finisher Salary by Experience Level in Grenada

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 binder and finisher 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 Binder and Finisher in Grenada that has less than two years of experience can expect to earn somewhere in the region of 20,300 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Binder and Finisher salary would increase to 24,820 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Binder and Finisher, the average salary would be 29,160 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 35,260 XCD.
  • 15 - 20 Years Experience. A Binder and Finisher with 15 to 20 years of experience can earn an average of 39,420 XCD.
  • 20+ Years Experience. For a Binder and Finisher with more than 20 years, the expected average salary increases to 43,340 XCD.

Average Salary by Experience Chart

0-2 Years
20,300 XCD
2-5 Years +26%
24,820 XCD
5-10 Years +32%
29,160 XCD
10-15 Years +18%
35,260 XCD
15-20 Years +11%
39,420 XCD
20+ Years +6%
43,340 XCD

Binder and Finisher Salary by Education Level in Grenada

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 Binder and Finisher in Grenada 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 Binder and Finisher in Grenada with a high school education can earn an average salary of 24,200 XCD.

  • Certificate or Diploma. A Binder and Finisher in Grenada with a certificate or diploma education can earn an average salary of 41,700 XCD.

Average Salary by Education Chart

High School
24,200 XCD
Certificate or Diploma +56%
41,700 XCD

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 Grenada is around 31,300 to 94,000 XCD 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.

Binder and Finisher 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 Grenada, a male binder and finisher will earn an average of 30,220 XCD, while a female binder and finisher will earn around 26,400 XCD.

This means that a male binder and finisher earns approximately 14% more than a female binder and finisher for performing the same job.

Average Salary by Gender Chart in Grenada

Male
30,220 XCD
Female -14%
26,400 XCD

Binder and Finisher Average Pay Raise in Grenada

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 Binder and Finisher in Grenada is around 6% every 28 months.

The national average pay raise across all professions and industries in Grenada 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 = ( 6 ÷ 28 ) × 12  = 3%

What this means is that a Binder and Finisher in Grenada can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Grenada for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Binder and Finisher Bonus and Incentive Rates in Grenada

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 Binder and Finisher is a low bonus based job, with 7% of employees reporting at least one bonus in the last 12 months.

93% 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 1% to 2%.

Received Bonus
7%
No Bonus
93%

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

Public Sector
78,500 XCD
Private Sector -11%
70,840 XCD

Salaries for Jobs Similar to a Binder and Finisher

In the table below, we have salary information for jobs that are similar to a Binder and Finisher in Grenada.

Job Title Category Salary
Advertising Copywriter Publishing and Printing 69,240 XCD
Art Director Publishing and Printing 73,100 XCD
Art Supervisor Publishing and Printing 63,040 XCD
Artist Publishing and Printing 69,240 XCD
Assistant Editor Publishing and Printing 51,900 XCD
Associate Content Management Specialist Publishing and Printing 66,680 XCD
Associate Editor Publishing and Printing 58,200 XCD
Bindery Supervisor Publishing and Printing 38,700 XCD
Circulations Director Publishing and Printing 89,960 XCD
Color Matcher Publishing and Printing 36,020 XCD
Color Technician Publishing and Printing 34,120 XCD
Commissioning Editor Publishing and Printing 52,300 XCD
Communications Editor Publishing and Printing 59,480 XCD
Content Copywriter Publishing and Printing 61,840 XCD
Content Management Assistant Publishing and Printing 58,440 XCD
Content Publisher Publishing and Printing 59,000 XCD
Content Writer Publishing and Printing 62,860 XCD
CopyWriter Publishing and Printing 62,860 XCD
Corporate Print Center Specialist Publishing and Printing 46,880 XCD
Curator Publishing and Printing 53,600 XCD
DTP Operator Publishing and Printing 51,900 XCD
Editor Publishing and Printing 62,420 XCD
Electronic Publisher Publishing and Printing 64,300 XCD
Fashion Subeditor Publishing and Printing 62,060 XCD
Media Design Manager Publishing and Printing 101,980 XCD
Media Planner Publishing and Printing 73,120 XCD
Photographer Publishing and Printing 52,880 XCD
Planning and Supply Manager Publishing and Printing 115,220 XCD
Print Production Coordinator Publishing and Printing 57,080 XCD
Print Production Manager Publishing and Printing 112,760 XCD
Printing Press Operator Publishing and Printing 48,300 XCD
Production Editor Publishing and Printing 57,800 XCD
Proofreader Publishing and Printing 54,500 XCD
Publisher Publishing and Printing 66,260 XCD
Publishing and Printing Coordinator Publishing and Printing 50,020 XCD
Publishing and Printing Manager Publishing and Printing 109,000 XCD
Publishing and Printing Supervisor Publishing and Printing 96,160 XCD
Publishing Specialist Publishing and Printing 71,280 XCD
Reporter Publishing and Printing 78,500 XCD
Technical Writer Publishing and Printing 66,100 XCD
Technical Writing Manager Publishing and Printing 91,960 XCD

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