Average Diamond Setter Salary in Vanuatu for 2024

In this article, we will look at the average Diamond Setter salary for 2024 in Vanuatu 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 Vanuatu vatu. To keep things simple, we are using the VUV currency code instead of the currency symbol Vt.

How Much Does a Diamond Setter Make in Vanuatu?

A Diamond Setter working in Vanuatu will typically earn around 524,700 VUV per year, and this can range from the lowest average salary of about 246,500 VUV to the highest average salary of 829,000 VUV.

Average Annual Salary
524,700 VUV
Average Monthly Salary
43,725 VUV

Lowest Annual Salary
246,500 VUV
Lowest Monthly Salary
20,541 VUV

Highest Annual Salary
829,000 VUV
Highest Monthly Salary
69,083 VUV

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

Diamond Setter 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 Diamond Setter Salaries in Vanuatu

So we've looked at the average salaries a Diamond Setter will earn in Vanuatu. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Diamond Setter can earn between 246,500 VUV and 829,000 VUV on average in Vanuatu. 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 Diamond Setter in Vanuatu is 556,000 VUV. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 556,000 VUV, and 50% of the population earn more than 556,000 VUV.

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 Diamond Setter salary in Vanuatu, 25% of the population are earning less than 362,200 VUV while 75% of the population earn more than 362,200 VUV.

75% of the population earn less than 735,500 VUV, and 25% of the population earn more than 735,500 VUV.

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.

Diamond Setter Salary by Experience Level in Vanuatu

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 diamond setter 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 Diamond Setter in Vanuatu that has less than two years of experience can expect to earn somewhere in the region of 282,500 VUV.
  • 2 - 5 Years Experience. With two to five years of experience the average Diamond Setter salary would increase to 392,300 VUV.
  • 5 - 10 Years Experience. From five to ten years of experience as a Diamond Setter, the average salary would be 559,000 VUV.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 681,900 VUV.
  • 15 - 20 Years Experience. A Diamond Setter with 15 to 20 years of experience can earn an average of 719,100 VUV.
  • 20+ Years Experience. For a Diamond Setter with more than 20 years, the expected average salary increases to 781,200 VUV.

Average Salary by Experience Chart

0-2 Years
282,500 VUV
2-5 Years +38%
392,300 VUV
5-10 Years +42%
559,000 VUV
10-15 Years +22%
681,900 VUV
15-20 Years +6%
719,100 VUV
20+ Years +9%
781,200 VUV

Diamond Setter Salary by Education Level in Vanuatu

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 Diamond Setter in Vanuatu 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 Diamond Setter in Vanuatu with a high school education can earn an average salary of 357,700 VUV.

  • Certificate or Diploma. A Diamond Setter in Vanuatu with a certificate or diploma education can earn an average salary of 650,800 VUV.

Average Salary by Education Chart

High School
357,700 VUV
Certificate or Diploma +82%
650,800 VUV

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 Vanuatu is around 495,000 to 1,490,000 VUV 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.

Diamond Setter 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 Vanuatu, a male diamond setter will earn an average of 492,700 VUV, while a female diamond setter will earn around 563,000 VUV.

This means that a male diamond setter earns approximately 12% less than a female diamond setter for performing the same job.

Average Salary by Gender Chart in Vanuatu

Male
492,700 VUV
Female +12%
563,000 VUV

Diamond Setter Average Pay Raise in Vanuatu

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 Diamond Setter in Vanuatu is around 5% every 29 months.

The national average pay raise across all professions and industries in Vanuatu 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 Diamond Setter in Vanuatu can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Vanuatu for 2024

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

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

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Diamond Setter Bonus and Incentive Rates in Vanuatu

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 Diamond Setter is a low bonus based job, with 14% of employees reporting at least one bonus in the last 12 months.

86% 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
14%
No Bonus
86%

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 Vanuatu earn approximately 17% more than private sector employees in the same role.

Public Sector
1,296,900 VUV
Private Sector -17%
1,105,600 VUV

Salaries for Jobs Similar to a Diamond Setter

In the table below, we have salary information for jobs that are similar to a Diamond Setter in Vanuatu.

Job Title Category Salary
Alterations Specialist Fashion and Apparel 464,900 VUV
Barber Fashion and Apparel 504,500 VUV
Bench Jeweler Fashion and Apparel 417,200 VUV
Clothing and Textile Technologist Fashion and Apparel 995,200 VUV
Cosmetology Educator Fashion and Apparel 1,212,800 VUV
Diamond Worker Fashion and Apparel 602,700 VUV
Fabric Manager Fashion and Apparel 1,224,800 VUV
Fashion Design Manager Fashion and Apparel 1,908,800 VUV
Fashion Designer Fashion and Apparel 1,570,900 VUV
Fashion Merchandiser Fashion and Apparel 808,000 VUV
Fashion Model Fashion and Apparel 1,087,500 VUV
Freelance Fashion Stylist Fashion and Apparel 1,870,400 VUV
Garment Technologist Fashion and Apparel 1,006,300 VUV
Hairstylist Fashion and Apparel 565,100 VUV
Jeweler Fashion and Apparel 875,000 VUV
Jewelry Mold Maker Fashion and Apparel 643,800 VUV
Jewelry Polisher Fashion and Apparel 396,300 VUV
Jewelry Sales Fashion and Apparel 802,400 VUV
Plating Manager Fashion and Apparel 1,224,800 VUV
Product Development Manager Fashion and Apparel 2,076,600 VUV
Sewing Machine Operator Fashion and Apparel 362,200 VUV
Shoe Sales Fashion and Apparel 559,000 VUV
Supply Chain Manager Fashion and Apparel 2,076,600 VUV
Tailor / Fitter Fashion and Apparel 504,400 VUV
Trend Forecaster Fashion and Apparel 1,224,800 VUV
Visual Merchandising Coordinator Fashion and Apparel 791,200 VUV
Visual Merchandising Projects Manager Fashion and Apparel 1,741,800 VUV

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