Average Lift Technician Salary in Palau for 2024

In this article, we will look at the average Lift Technician salary for 2024 in Palau 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 Lift Technician Make in Palau?

A Lift Technician working in Palau will typically earn around 9,960 USD per year, and this can range from the lowest average salary of about 6,300 USD to the highest average salary of 15,300 USD.

Average Annual Salary
9,960 USD
Average Monthly Salary
830 USD

Lowest Annual Salary
6,300 USD
Lowest Monthly Salary
525 USD

Highest Annual Salary
15,300 USD
Highest Monthly Salary
1,275 USD

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

Lift Technician 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 Lift Technician Salaries in Palau

So we've looked at the average salaries a Lift Technician will earn in Palau. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Lift Technician can earn between 6,300 USD and 15,300 USD on average in Palau. 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 Lift Technician in Palau is 10,000 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 10,000 USD, and 50% of the population earn more than 10,000 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 Lift Technician salary in Palau, 25% of the population are earning less than 7,620 USD while 75% of the population earn more than 7,620 USD.

75% of the population earn less than 14,540 USD, and 25% of the population earn more than 14,540 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.

Lift Technician Salary by Experience Level in Palau

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 lift technician 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 Lift Technician in Palau that has less than two years of experience can expect to earn somewhere in the region of 5,720 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Lift Technician salary would increase to 7,620 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Lift Technician, the average salary would be 10,220 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 13,900 USD.
  • 15 - 20 Years Experience. A Lift Technician with 15 to 20 years of experience can earn an average of 14,200 USD.
  • 20+ Years Experience. For a Lift Technician with more than 20 years, the expected average salary increases to 17,100 USD.

Average Salary by Experience Chart

0-2 Years
5,720 USD
2-5 Years +33%
7,620 USD
5-10 Years +48%
10,220 USD
10-15 Years +22%
13,900 USD
15-20 Years +9%
14,200 USD
20+ Years +8%
17,100 USD

Lift Technician Salary by Education Level in Palau

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 Lift Technician in Palau 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 Lift Technician in Palau with a high school education can earn an average salary of 5,040 USD.

  • Certificate or Diploma. A Lift Technician in Palau with a certificate or diploma education can earn an average salary of 9,140 USD.

  • Bachelor's Degree. A Lift Technician in Palau with a bachelor's degree education can earn an average salary of 18,260 USD.

Average Salary by Education Chart

High School
5,040 USD
Certificate or Diploma +57%
9,140 USD
Bachelor's Degree +68%
18,260 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 Palau is around 13,600 to 40,900 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.

Lift Technician 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 Palau, a male lift technician will earn an average of 12,520 USD, while a female lift technician will earn around 8,100 USD.

This means that a male lift technician earns approximately 55% more than a female lift technician for performing the same job.

Average Salary by Gender Chart in Palau

Male
12,520 USD
Female -55%
8,100 USD

Lift Technician Average Pay Raise in Palau

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 Lift Technician in Palau is around 4% every 30 months.

The national average pay raise across all professions and industries in Palau 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 = ( 4 ÷ 30 ) × 12  = 2%

What this means is that a Lift Technician in Palau can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Palau for 2024

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

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

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Lift Technician Bonus and Incentive Rates in Palau

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 Lift Technician 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 Palau earn approximately 19% more than private sector employees in the same role.

Public Sector
37,200 USD
Private Sector -19%
31,380 USD

Salaries for Jobs Similar to a Lift Technician

In the table below, we have salary information for jobs that are similar to a Lift Technician in Palau.

Job Title Category Salary
Adjudicator Construction / Building / Installation 13,060 USD
Assembler Construction / Building / Installation 9,960 USD
Boat Builder and Shipwright Construction / Building / Installation 14,660 USD
Bricklayer Construction / Building / Installation 7,800 USD
Building Administrator Construction / Building / Installation 14,620 USD
Building Contracts Manager Construction / Building / Installation 46,720 USD
Building Inspector Construction / Building / Installation 11,360 USD
Building Monitor Construction / Building / Installation 11,300 USD
Building Sales Manager Construction / Building / Installation 40,040 USD
Cabinetmaker Construction / Building / Installation 9,960 USD
Carpenter Construction / Building / Installation 10,980 USD
Civil Engineer Construction / Building / Installation 28,680 USD
Civil Technician Construction / Building / Installation 14,200 USD
Concreter Construction / Building / Installation 10,320 USD
Construction and Building Inspector Construction / Building / Installation 13,780 USD
Construction and Maintenance Manager Construction / Building / Installation 22,400 USD
Construction Assistant Construction / Building / Installation 10,980 USD
Construction Coordinator Construction / Building / Installation 18,780 USD
Construction Estimator Construction / Building / Installation 16,980 USD
Construction Field Engineer Construction / Building / Installation 26,780 USD
Construction General Manager Construction / Building / Installation 55,840 USD
Construction Inventory Officer Construction / Building / Installation 8,880 USD
Construction Manager Construction / Building / Installation 57,080 USD
Construction Operations Manager Construction / Building / Installation 49,360 USD
Construction Project Controls Manager Construction / Building / Installation 40,140 USD
Construction Project Coordinator Construction / Building / Installation 28,860 USD
Construction Project Engineer Construction / Building / Installation 27,480 USD
Construction Project Manager Construction / Building / Installation 53,860 USD
Construction Project Manager Construction / Building / Installation 54,700 USD
Construction Project Planner Construction / Building / Installation 30,840 USD
Construction Quality Control Manager Construction / Building / Installation 39,800 USD
Construction Safety Officer Construction / Building / Installation 18,940 USD
Construction Superintendent Construction / Building / Installation 20,500 USD
Construction Supervisor Construction / Building / Installation 26,100 USD
Construction Technical Assistant Construction / Building / Installation 12,300 USD
Construction Technical Officer Construction / Building / Installation 14,620 USD
Construction Technical Writer Construction / Building / Installation 12,520 USD
Construction Technician Construction / Building / Installation 12,020 USD
Construction Worker Construction / Building / Installation 9,440 USD
Crane and Tower Operator Construction / Building / Installation 11,300 USD
Crane Operator Construction / Building / Installation 8,880 USD
Diesel Mechanic Construction / Building / Installation 9,980 USD
Draughtsman Construction / Building / Installation 10,320 USD
Drywall Installer Construction / Building / Installation 8,880 USD
Electrical Draftsman Construction / Building / Installation 10,220 USD
Electrical Engineering Supervisor Construction / Building / Installation 35,340 USD
Electrical Engineering Technician Construction / Building / Installation 13,700 USD
Electrical Supervisor Construction / Building / Installation 23,400 USD
Electrician Construction / Building / Installation 15,580 USD
Elevator Installer and Repairer Construction / Building / Installation 13,780 USD
Engineer Construction / Building / Installation 27,020 USD
Excavator Operator Construction / Building / Installation 11,300 USD
Field Inspector Construction / Building / Installation 16,980 USD
Floor Finisher Construction / Building / Installation 10,000 USD
Floor Manager Construction / Building / Installation 16,880 USD
Foreman Construction / Building / Installation 8,960 USD
Frame and Truss Detailer Construction / Building / Installation 8,560 USD
Furniture Finisher Construction / Building / Installation 11,300 USD
Gas Technician Construction / Building / Installation 10,320 USD
Handyman Construction / Building / Installation 10,320 USD
Health and Safety Coordinator Construction / Building / Installation 14,620 USD
Health and Safety Officer Construction / Building / Installation 11,880 USD
Installation Manager Construction / Building / Installation 33,520 USD
Installer Construction / Building / Installation 9,440 USD
Insulation Installer Construction / Building / Installation 9,460 USD
Labourer Construction / Building / Installation 8,780 USD
Land Surveyor Construction / Building / Installation 12,240 USD
Maintenance Foreman Construction / Building / Installation 7,080 USD
Material Tester Construction / Building / Installation 15,580 USD
Model Maker Construction / Building / Installation 14,660 USD
Order Picker Construction / Building / Installation 7,080 USD
Painter Construction / Building / Installation 9,460 USD
Pipe Layer Construction / Building / Installation 8,960 USD
Pipe Welder Construction / Building / Installation 8,960 USD
Pipefitter Construction / Building / Installation 9,360 USD
Plumber Construction / Building / Installation 12,840 USD
Property Coordinator Construction / Building / Installation 24,200 USD
Purchasing Manager Construction / Building / Installation 35,000 USD
Quantity Estimator Construction / Building / Installation 19,640 USD
Quantity Surveyor Construction / Building / Installation 16,980 USD
Roof Slater and Tiler Construction / Building / Installation 8,560 USD
Sheet Metal Mechanic Construction / Building / Installation 9,980 USD
Sheet Metal Worker Construction / Building / Installation 7,800 USD
Site Clerk Construction / Building / Installation 8,100 USD
Site engineer Construction / Building / Installation 27,020 USD
Site Leader Construction / Building / Installation 48,560 USD
Stock Controller Construction / Building / Installation 15,880 USD
Structural Steel Construction Worker Construction / Building / Installation 10,080 USD
Technical Draughtsman Construction / Building / Installation 12,520 USD
Tender Manager Construction / Building / Installation 46,840 USD
Tendering Manager Construction / Building / Installation 43,800 USD
Tower Crane Operator Construction / Building / Installation 9,140 USD
Wall and Floor Tiler Construction / Building / Installation 10,380 USD
Warehouse Manager Construction / Building / Installation 33,440 USD
Welder Construction / Building / Installation 9,360 USD
Welding Superintendent Construction / Building / Installation 12,620 USD

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