Average Contracts Administrator Salary in Turks and Caicos Islands for 2024

In this article, we will look at the average Contracts Administrator salary for 2024 in Turks and Caicos 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 Contracts Administrator Make in Turks and Caicos Islands?

A Contracts Administrator working in Turks and Caicos Islands will typically earn around 13,560 USD per year, and this can range from the lowest average salary of about 5,520 USD to the highest average salary of 22,540 USD.

Average Annual Salary
13,560 USD
Average Monthly Salary
1,130 USD

Lowest Annual Salary
5,520 USD
Lowest Monthly Salary
460 USD

Highest Annual Salary
22,540 USD
Highest Monthly Salary
1,878 USD

These are average salaries for a Contracts Administrator in Turks and Caicos Islands and include benefits such as housing and transport. It's also possible for a Contracts Administrator to earn more or less than the average salaries shown above.

Contracts Administrator 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 Contracts Administrator Salaries in Turks and Caicos Islands

So we've looked at the average salaries a Contracts Administrator will earn in Turks and Caicos Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Contracts Administrator can earn between 5,520 USD and 22,540 USD on average in Turks and Caicos 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 Contracts Administrator in Turks and Caicos Islands is 13,100 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 13,100 USD, and 50% of the population earn more than 13,100 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 Contracts Administrator salary in Turks and Caicos Islands, 25% of the population are earning less than 7,820 USD while 75% of the population earn more than 7,820 USD.

75% of the population earn less than 20,500 USD, and 25% of the population earn more than 20,500 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.

Contracts Administrator Salary by Experience Level in Turks and Caicos 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 contracts administrator 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 Contracts Administrator in Turks and Caicos Islands that has less than two years of experience can expect to earn somewhere in the region of 6,280 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Contracts Administrator salary would increase to 9,960 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Contracts Administrator, the average salary would be 17,020 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 17,760 USD.
  • 15 - 20 Years Experience. A Contracts Administrator with 15 to 20 years of experience can earn an average of 18,940 USD.
  • 20+ Years Experience. For a Contracts Administrator with more than 20 years, the expected average salary increases to 21,020 USD.

Average Salary by Experience Chart

0-2 Years
6,280 USD
2-5 Years +38%
9,960 USD
5-10 Years +42%
17,020 USD
10-15 Years +22%
17,760 USD
15-20 Years +6%
18,940 USD
20+ Years +9%
21,020 USD

Contracts Administrator Salary by Education Level in Turks and Caicos 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 Contracts Administrator in Turks and Caicos 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 Contracts Administrator in Turks and Caicos Islands with a high school education can earn an average salary of 10,380 USD.

  • Certificate or Diploma. A Contracts Administrator in Turks and Caicos Islands with a certificate or diploma education can earn an average salary of 12,840 USD.

  • Bachelor's Degree. A Contracts Administrator in Turks and Caicos Islands with a bachelor's degree education can earn an average salary of 16,880 USD.

  • Master's Degree. A Contracts Administrator in Turks and Caicos Islands with a master's degree education can earn an average salary of 21,020 USD.

Average Salary by Education Chart

High School
10,380 USD
Certificate or Diploma +17%
12,840 USD
Bachelor's Degree +46%
16,880 USD
Master's Degree +31%
21,020 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 Turks and Caicos Islands is around 7,430 to 22,300 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.

Contracts Administrator 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 Turks and Caicos Islands, a male contracts administrator will earn an average of 14,540 USD, while a female contracts administrator will earn around 14,620 USD.

This means that a male contracts administrator earns approximately 1% less than a female contracts administrator for performing the same job.

Average Salary by Gender Chart in Turks and Caicos Islands

Male
14,540 USD
Female +1%
14,620 USD

Contracts Administrator Average Pay Raise in Turks and Caicos 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 Contracts Administrator in Turks and Caicos Islands is around 5% every 31 months.

The national average pay raise across all professions and industries in Turks and Caicos 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 ÷ 31 ) × 12  = 2%

What this means is that a Contracts Administrator in Turks and Caicos Islands can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Turks and Caicos Islands for 2024

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

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%

Contracts Administrator Bonus and Incentive Rates in Turks and Caicos 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 Contracts Administrator 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 Turks and Caicos Islands earn approximately 3% less than private sector employees in the same role.

Public Sector
18,280 USD
Private Sector +3%
18,780 USD

Salaries for Jobs Similar to a Contracts Administrator

In the table below, we have salary information for jobs that are similar to a Contracts Administrator in Turks and Caicos Islands.

Job Title Category Salary
Air Conditioning Technician Facilities / Maintenance / Repair 4,320 USD
Assembly Supervisor Facilities / Maintenance / Repair 9,360 USD
Assistant Contract Manager Facilities / Maintenance / Repair 21,100 USD
Building and Grounds Supervisor Facilities / Maintenance / Repair 12,620 USD
Building Control Officer Facilities / Maintenance / Repair 8,880 USD
Building Engineer Facilities / Maintenance / Repair 15,580 USD
Building Services Engineer Facilities / Maintenance / Repair 17,100 USD
Building Surveyor Facilities / Maintenance / Repair 8,880 USD
Calibration Technician Facilities / Maintenance / Repair 5,040 USD
Carpenter Facilities / Maintenance / Repair 5,520 USD
Cemetery Manager Facilities / Maintenance / Repair 6,200 USD
Chief Building Official Facilities / Maintenance / Repair 27,380 USD
Clinical Facilities Planning Manager Facilities / Maintenance / Repair 25,660 USD
Construction Laborer Facilities / Maintenance / Repair 6,300 USD
Contracts Manager Facilities / Maintenance / Repair 20,000 USD
Facilities Coordinator Facilities / Maintenance / Repair 11,040 USD
Facilities Director Facilities / Maintenance / Repair 27,040 USD
Facilities Engineer Facilities / Maintenance / Repair 15,580 USD
Facilities Maintenance Manager Facilities / Maintenance / Repair 22,660 USD
Facilities Maintenance Supervisor Facilities / Maintenance / Repair 17,540 USD
Facilities Manager Facilities / Maintenance / Repair 23,660 USD
Field Service Manager Facilities / Maintenance / Repair 22,660 USD
Field Service Technician Facilities / Maintenance / Repair 6,300 USD
Fire Alarm System Installer Facilities / Maintenance / Repair 10,100 USD
Glazier Facilities / Maintenance / Repair 4,940 USD
HVAC Mechanic Facilities / Maintenance / Repair 6,760 USD
HVAC Technician Facilities / Maintenance / Repair 6,700 USD
Laborer Facilities / Maintenance / Repair 6,760 USD
Maintenance Fitter Facilities / Maintenance / Repair 4,940 USD
Maintenance Mechanic Facilities / Maintenance / Repair 6,300 USD
Maintenance Officer Facilities / Maintenance / Repair 6,700 USD
Maintenance Planner Facilities / Maintenance / Repair 7,620 USD
Maintenance Supervisor Facilities / Maintenance / Repair 7,240 USD
Maintenance Worker Facilities / Maintenance / Repair 6,300 USD
Mechanic Facilities / Maintenance / Repair 6,480 USD
Plant Engineer Facilities / Maintenance / Repair 17,100 USD
Property Administration Officer Facilities / Maintenance / Repair 10,380 USD
Service Engineer Facilities / Maintenance / Repair 14,540 USD
Service Operations Manager Facilities / Maintenance / Repair 22,660 USD
Technician Facilities / Maintenance / Repair 4,320 USD
Tool Technician Facilities / Maintenance / Repair 6,760 USD

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