Average Cost Controller Salary in Grenada for 2024

In this article, we will look at the average Cost Controller 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 Cost Controller Make in Grenada?

A Cost Controller working in Grenada will typically earn around 63,380 XCD per year, and this can range from the lowest average salary of about 31,540 XCD to the highest average salary of 98,140 XCD.

Average Annual Salary
63,380 XCD
Average Monthly Salary
5,281 XCD

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

Highest Annual Salary
98,140 XCD
Highest Monthly Salary
8,178 XCD

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

Cost Controller 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 Cost Controller Salaries in Grenada

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

Salary ranges

We already know that a Cost Controller can earn between 31,540 XCD and 98,140 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 Cost Controller in Grenada is 66,000 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 66,000 XCD, and 50% of the population earn more than 66,000 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 Cost Controller salary in Grenada, 25% of the population are earning less than 42,040 XCD while 75% of the population earn more than 42,040 XCD.

75% of the population earn less than 85,460 XCD, and 25% of the population earn more than 85,460 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.

Cost Controller 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 cost controller 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 Cost Controller in Grenada that has less than two years of experience can expect to earn somewhere in the region of 33,980 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Controller salary would increase to 50,580 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Controller, the average salary would be 62,860 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 80,920 XCD.
  • 15 - 20 Years Experience. A Cost Controller with 15 to 20 years of experience can earn an average of 83,060 XCD.
  • 20+ Years Experience. For a Cost Controller with more than 20 years, the expected average salary increases to 91,520 XCD.

Average Salary by Experience Chart

0-2 Years
33,980 XCD
2-5 Years +42%
50,580 XCD
5-10 Years +31%
62,860 XCD
10-15 Years +23%
80,920 XCD
15-20 Years +6%
83,060 XCD
20+ Years +10%
91,520 XCD

Cost Controller 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 Cost Controller 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 Cost Controller in Grenada with a high school education can earn an average salary of 41,480 XCD.

  • Certificate or Diploma. A Cost Controller in Grenada with a certificate or diploma education can earn an average salary of 48,300 XCD.

  • Bachelor's Degree. A Cost Controller in Grenada with a bachelor's degree education can earn an average salary of 72,700 XCD.

  • Master's Degree. A Cost Controller in Grenada with a master's degree education can earn an average salary of 91,320 XCD.

Average Salary by Education Chart

High School
41,480 XCD
Certificate or Diploma +16%
48,300 XCD
Bachelor's Degree +46%
72,700 XCD
Master's Degree +23%
91,320 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.

Cost Controller 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 cost controller will earn an average of 66,580 XCD, while a female cost controller will earn around 61,400 XCD.

This means that a male cost controller earns approximately 8% more than a female cost controller for performing the same job.

Average Salary by Gender Chart in Grenada

Male
66,580 XCD
Female -8%
61,400 XCD

Cost Controller 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 Cost Controller in Grenada is around 9% every 26 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 = ( 9 ÷ 26 ) × 12  = 4%

What this means is that a Cost Controller in Grenada can expect to receive an average pay raise of around 4% 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%

Cost Controller 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 Cost Controller is a moderate bonus based job, with 64% of employees reporting at least one bonus in the last 12 months.

36% 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 5% to 9%.

Received Bonus
64%
No Bonus
36%

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 Cost Controller

In the table below, we have salary information for jobs that are similar to a Cost Controller in Grenada.

Job Title Category Salary
Assistant Business Development Manager Business Planning 94,800 XCD
Assistant Merchandise Planner Business Planning 54,500 XCD
Business Advisor Business Planning 93,780 XCD
Business Analyst Business Planning 91,580 XCD
Business Consultant Business Planning 87,880 XCD
Business Continuity Associate Business Planning 54,140 XCD
Business Developer Business Planning 60,400 XCD
Business Development Analyst Business Planning 66,680 XCD
Business Development Associate Business Planning 45,000 XCD
Business Development Coordinator Business Planning 50,020 XCD
Business Development Director Business Planning 129,000 XCD
Business Development Engineer Business Planning 69,400 XCD
Business Development Executive Business Planning 92,400 XCD
Business Development Manager Business Planning 110,120 XCD
Business Development Specialist Business Planning 79,500 XCD
Business Manager Business Planning 109,000 XCD
Business Operations Specialist Business Planning 86,740 XCD
Business Process Writer Business Planning 49,360 XCD
Business Systems Analyst Business Planning 86,520 XCD
Capacity Planner Business Planning 60,160 XCD
Capacity Planning Supervisor Business Planning 80,800 XCD
Change Communications Analyst Business Planning 80,840 XCD
Change Control Analyst Business Planning 80,840 XCD
Change Impact Analyst Business Planning 82,480 XCD
Contracts Executive Business Planning 87,020 XCD
Corporate Strategy Analyst Business Planning 87,520 XCD
Cost Control Engineer Business Planning 55,020 XCD
Cost Estimator Business Planning 57,820 XCD
Data Executive Business Planning 47,180 XCD
Data Manager Business Planning 67,020 XCD
Data Processing Manager Business Planning 83,140 XCD
Development Researcher Business Planning 69,780 XCD
Director of Business Development Business Planning 129,000 XCD
Director of Production Planning Business Planning 111,900 XCD
Due Diligence Analyst Business Planning 90,660 XCD
Estimating Manager Business Planning 100,280 XCD
General Manager Business Planning 109,000 XCD
Incident Handler Business Planning 63,380 XCD
Incident Specialist Business Planning 72,740 XCD
Lean Consultant Business Planning 63,400 XCD
Manager Business Planning 119,700 XCD
Marketing and Business Development Manager Business Planning 102,960 XCD
Materials Planner Business Planning 41,980 XCD
Merchandise Assistant Business Planning 40,560 XCD
Merchandise Controller Business Planning 39,960 XCD
Merchandise Planner Business Planning 38,700 XCD
Operations Analyst Business Planning 80,540 XCD
Operations Manager Business Planning 94,900 XCD
Operations Research Analyst Business Planning 50,620 XCD
Planning and Reporting Manager Business Planning 95,600 XCD
Planning Director Business Planning 115,620 XCD
Project Administrator Business Planning 57,080 XCD
Project Manager Business Planning 89,340 XCD
Project Planner Business Planning 55,940 XCD
Research Assistant Business Planning 48,200 XCD
Research Engineer Business Planning 52,880 XCD
Research Officer Business Planning 43,760 XCD
Risk Management Specialist Business Planning 80,520 XCD
Scholarship Coordinator Business Planning 41,820 XCD
Store Planner Business Planning 44,300 XCD
Strategy Director Business Planning 125,700 XCD
Top Research and Development Executive Business Planning 136,100 XCD

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