Average In House Counsel Salary in Bahamas for 2024

In this article, we will look at the average In House Counsel salary for 2024 in Bahamas 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 Bahamian dollar. To keep things simple, we are using the BSD currency code instead of the currency symbol $.

How Much Does an In House Counsel Make in Bahamas?

An In House Counsel working in Bahamas will typically earn around 72,800 BSD per year, and this can range from the lowest average salary of about 36,500 BSD to the highest average salary of 111,700 BSD.

Average Annual Salary
72,800 BSD
Average Monthly Salary
6,066 BSD

Lowest Annual Salary
36,500 BSD
Lowest Monthly Salary
3,041 BSD

Highest Annual Salary
111,700 BSD
Highest Monthly Salary
9,308 BSD

These are average salaries for an In House Counsel in Bahamas and include benefits such as housing and transport. It's also possible for an In House Counsel to earn more or less than the average salaries shown above.

In House Counsel 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 In House Counsel Salaries in Bahamas

So we've looked at the average salaries an In House Counsel will earn in Bahamas. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an In House Counsel can earn between 36,500 BSD and 111,700 BSD on average in Bahamas. 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 an In House Counsel in Bahamas is 72,800 BSD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 72,800 BSD, and 50% of the population earn more than 72,800 BSD.

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 In House Counsel salary in Bahamas, 25% of the population are earning less than 49,400 BSD while 75% of the population earn more than 49,400 BSD.

75% of the population earn less than 92,400 BSD, and 25% of the population earn more than 92,400 BSD.

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.

In House Counsel Salary by Experience Level in Bahamas

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 in house counsel 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. An In House Counsel in Bahamas that has less than two years of experience can expect to earn somewhere in the region of 42,300 BSD.
  • 2 - 5 Years Experience. With two to five years of experience the average In House Counsel salary would increase to 58,100 BSD.
  • 5 - 10 Years Experience. From five to ten years of experience as an In House Counsel, the average salary would be 74,700 BSD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 92,300 BSD.
  • 15 - 20 Years Experience. An In House Counsel with 15 to 20 years of experience can earn an average of 98,000 BSD.
  • 20+ Years Experience. For an In House Counsel with more than 20 years, the expected average salary increases to 105,800 BSD.

Average Salary by Experience Chart

0-2 Years
42,300 BSD
2-5 Years +32%
58,100 BSD
5-10 Years +34%
74,700 BSD
10-15 Years +19%
92,300 BSD
15-20 Years +8%
98,000 BSD
20+ Years +7%
105,800 BSD

In House Counsel Salary by Education Level in Bahamas

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 an In House Counsel in Bahamas based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An In House Counsel in Bahamas with a bachelor's degree education can earn an average salary of 59,900 BSD.

  • Master's Degree. An In House Counsel in Bahamas with a master's degree education can earn an average salary of 96,500 BSD.

Average Salary by Education Chart

Bachelor's Degree
59,900 BSD
Master's Degree +58%
96,500 BSD

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 Bahamas is around 19,500 to 58,400 BSD 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.

In House Counsel 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 Bahamas, a male in house counsel will earn an average of 73,300 BSD, while a female in house counsel will earn around 68,400 BSD.

This means that a male in house counsel earns approximately 7% more than a female in house counsel for performing the same job.

Average Salary by Gender Chart in Bahamas

Male
73,300 BSD
Female -7%
68,400 BSD

In House Counsel Average Pay Raise in Bahamas

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 an In House Counsel in Bahamas is around 8% every 28 months.

The national average pay raise across all professions and industries in Bahamas 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 = ( 8 ÷ 28 ) × 12  = 3%

What this means is that an In House Counsel in Bahamas can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Bahamas for 2024

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

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%

In House Counsel Bonus and Incentive Rates in Bahamas

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.

An In House Counsel is a low bonus based job, with 13% of employees reporting at least one bonus in the last 12 months.

87% 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 3%.

Received Bonus
13%
No Bonus
87%

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

Public Sector
51,500 BSD
Private Sector -11%
46,300 BSD

Salaries for Jobs Similar to an In House Counsel

In the table below, we have salary information for jobs that are similar to an In House Counsel in Bahamas.

Job Title Category Salary
Administrative Law Judge Legal 125,400 BSD
Arbitrator Legal 62,100 BSD
Associate Attorney Legal 59,900 BSD
Attorney Legal 91,000 BSD
Bailiff Legal 31,300 BSD
Barrister Legal 25,700 BSD
Candidate Attorney Legal 54,500 BSD
Conciliator Legal 45,600 BSD
Contracts Associate Legal 29,300 BSD
Contracts Manager Legal 57,800 BSD
Contracts Negotiator Legal 42,300 BSD
Contracts Specialist Legal 30,800 BSD
Conveyancing Secretary Legal 24,200 BSD
Corporate Counsel Legal 71,700 BSD
Counsel Legal 68,500 BSD
Court Clerk Legal 20,000 BSD
Court Judicial Assistant Legal 36,800 BSD
Court Liaison Specialist Legal 44,800 BSD
Court Reporter Legal 35,300 BSD
Court Representative Legal 25,500 BSD
Crown Prosecution Service Lawyer Legal 132,000 BSD
General Counsel Legal 114,300 BSD
Immigration Executive Legal 65,900 BSD
Intellectual Property Specialist Legal 49,400 BSD
Judge Advocate Legal 94,300 BSD
Law Clerk Legal 23,800 BSD
Lawyer Legal 90,900 BSD
Legal Administrative Assistant Legal 25,700 BSD
Legal Advisor Legal 54,100 BSD
Legal Assistant Legal 25,400 BSD
Legal Associate Legal 44,900 BSD
Legal Consultant Legal 54,200 BSD
Legal Consultant Legal 59,500 BSD
Legal Counsel Legal 69,700 BSD
Legal Editor Legal 44,200 BSD
Legal Executive Legal 90,900 BSD
Legal Executive Secretary Legal 22,800 BSD
Legal IP Officer Legal 20,400 BSD
Legal Officer Legal 25,800 BSD
Legal Secretary Legal 25,800 BSD
Legal Services Director Legal 107,700 BSD
Legal Services Manager Legal 112,700 BSD
Legal Support Worker Legal 20,300 BSD
Legislative Liaison Legal 43,500 BSD
Litigation Attorney Legal 108,200 BSD
Litigation Paralegal Legal 58,100 BSD
Magistrate Judge Legal 147,900 BSD
Paralegal Legal 35,500 BSD
Patent Attorney Legal 68,400 BSD
Staff Attorney Legal 72,400 BSD

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