Average Logistics Specialist Salary in Bahamas for 2024
In this article, we will look at the average Logistics Specialist 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 a Logistics Specialist Make in Bahamas?
A Logistics Specialist working in Bahamas will typically earn around 36,700 BSD per year, and this can range from the lowest average salary of about 19,200 BSD to the highest average salary of 57,100 BSD.
These are average salaries for a Logistics Specialist in Bahamas and include benefits such as housing and transport. It's also possible for a Logistics Specialist to earn more or less than the average salaries shown above.
Logistics Specialist 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 Logistics Specialist Salaries in Bahamas
So we've looked at the average salaries a Logistics Specialist will earn in Bahamas. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that a Logistics Specialist can earn between 19,200 BSD and 57,100 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 a Logistics Specialist in Bahamas is 35,000 BSD. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 35,000 BSD, and 50% of the population earn more than 35,000 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 Logistics Specialist salary in Bahamas, 25% of the population are earning less than 23,600 BSD while 75% of the population earn more than 23,600 BSD.
75% of the population earn less than 44,500 BSD, and 25% of the population earn more than 44,500 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.
Logistics Specialist 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 logistics specialist 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 Logistics Specialist in Bahamas that has less than two years of experience can expect to earn somewhere in the region of 20,000 BSD.
- 2 - 5 Years Experience. With two to five years of experience the average Logistics Specialist salary would increase to 26,500 BSD.
- 5 - 10 Years Experience. From five to ten years of experience as a Logistics Specialist, the average salary would be 40,500 BSD.
- 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 48,200 BSD.
- 15 - 20 Years Experience. A Logistics Specialist with 15 to 20 years of experience can earn an average of 50,000 BSD.
- 20+ Years Experience. For a Logistics Specialist with more than 20 years, the expected average salary increases to 55,700 BSD.
Average Salary by Experience Chart
| 0-2 Years |
20,000 BSD
|
|
| 2-5 Years | +31% |
26,500 BSD
|
| 5-10 Years | +40% |
40,500 BSD
|
| 10-15 Years | +20% |
48,200 BSD
|
| 15-20 Years | +9% |
50,000 BSD
|
| 20+ Years | +8% |
55,700 BSD
|
Logistics Specialist 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 a Logistics Specialist in Bahamas based on the education level of the employees in order to find out whether a better education level would increase your salary.
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High School. A Logistics Specialist in Bahamas with a high school education can earn an average salary of 24,400 BSD.
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Certificate or Diploma. A Logistics Specialist in Bahamas with a certificate or diploma education can earn an average salary of 30,100 BSD.
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Bachelor's Degree. A Logistics Specialist in Bahamas with a bachelor's degree education can earn an average salary of 42,600 BSD.
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Master's Degree. A Logistics Specialist in Bahamas with a master's degree education can earn an average salary of 53,300 BSD.
Average Salary by Education Chart
| High School |
24,400 BSD
|
|
| Certificate or Diploma | +15% |
30,100 BSD
|
| Bachelor's Degree | +41% |
42,600 BSD
|
| Master's Degree | +29% |
53,300 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.
Logistics Specialist 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 logistics specialist will earn an average of 41,700 BSD, while a female logistics specialist will earn around 35,100 BSD.
This means that a male logistics specialist earns approximately 19% more than a female logistics specialist for performing the same job.
Average Salary by Gender Chart in Bahamas
| Male |
41,700 BSD
|
|
| Female | -19% |
35,100 BSD
|
Logistics Specialist 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 a Logistics Specialist in Bahamas is around 6% every 30 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 = ( 6 ÷ 30 ) × 12 = 2%
What this means is that a Logistics Specialist in Bahamas can expect to receive an average pay raise of around 2% 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%
|
Logistics Specialist 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.
A Logistics Specialist is a low bonus based job, with 36% of employees reporting at least one bonus in the last 12 months.
64% 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 3% to 6%.
| Received Bonus |
36%
|
|
| No Bonus |
64%
|
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 a Logistics Specialist
In the table below, we have salary information for jobs that are similar to a Logistics Specialist in Bahamas.
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