Average Marine Cargo Inspector Salary in Faroe Islands for 2024

In this article, we will look at the average Marine Cargo Inspector salary for 2024 in Faroe Islands 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 Danish krone. To keep things simple, we are using the DKK currency code instead of the currency symbol kr.

How Much Does a Marine Cargo Inspector Make in Faroe Islands?

A Marine Cargo Inspector working in Faroe Islands will typically earn around 142,300 DKK per year, and this can range from the lowest average salary of about 64,620 DKK to the highest average salary of 227,600 DKK.

Average Annual Salary
142,300 DKK
Average Monthly Salary
11,858 DKK

Lowest Annual Salary
64,620 DKK
Lowest Monthly Salary
5,385 DKK

Highest Annual Salary
227,600 DKK
Highest Monthly Salary
18,966 DKK

These are average salaries for a Marine Cargo Inspector in Faroe Islands and include benefits such as housing and transport. It's also possible for a Marine Cargo Inspector to earn more or less than the average salaries shown above.

Marine Cargo Inspector 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 Marine Cargo Inspector Salaries in Faroe Islands

So we've looked at the average salaries a Marine Cargo Inspector will earn in Faroe Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Marine Cargo Inspector can earn between 64,620 DKK and 227,600 DKK on average in Faroe Islands. 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 Marine Cargo Inspector in Faroe Islands is 154,700 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 154,700 DKK, and 50% of the population earn more than 154,700 DKK.

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 Marine Cargo Inspector salary in Faroe Islands, 25% of the population are earning less than 97,900 DKK while 75% of the population earn more than 97,900 DKK.

75% of the population earn less than 207,700 DKK, and 25% of the population earn more than 207,700 DKK.

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.

Marine Cargo Inspector Salary by Experience Level in Faroe Islands

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 marine cargo inspector 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 Marine Cargo Inspector in Faroe Islands that has less than two years of experience can expect to earn somewhere in the region of 75,220 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Marine Cargo Inspector salary would increase to 99,100 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Marine Cargo Inspector, the average salary would be 148,300 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 181,600 DKK.
  • 15 - 20 Years Experience. A Marine Cargo Inspector with 15 to 20 years of experience can earn an average of 195,200 DKK.
  • 20+ Years Experience. For a Marine Cargo Inspector with more than 20 years, the expected average salary increases to 212,500 DKK.

Average Salary by Experience Chart

0-2 Years
75,220 DKK
2-5 Years +34%
99,100 DKK
5-10 Years +48%
148,300 DKK
10-15 Years +22%
181,600 DKK
15-20 Years +9%
195,200 DKK
20+ Years +8%
212,500 DKK

Marine Cargo Inspector Salary by Education Level in Faroe Islands

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 Marine Cargo Inspector in Faroe Islands 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 Marine Cargo Inspector in Faroe Islands with a high school education can earn an average salary of 84,880 DKK.

  • Certificate or Diploma. A Marine Cargo Inspector in Faroe Islands with a certificate or diploma education can earn an average salary of 136,100 DKK.

  • Bachelor's Degree. A Marine Cargo Inspector in Faroe Islands with a bachelor's degree education can earn an average salary of 225,300 DKK.

Average Salary by Education Chart

High School
84,880 DKK
Certificate or Diploma +57%
136,100 DKK
Bachelor's Degree +68%
225,300 DKK

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 Faroe Islands is around 134,000 to 401,000 DKK 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.

Marine Cargo Inspector 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 Faroe Islands, a male marine cargo inspector will earn an average of 157,600 DKK, while a female marine cargo inspector will earn around 128,900 DKK.

This means that a male marine cargo inspector earns approximately 22% more than a female marine cargo inspector for performing the same job.

Average Salary by Gender Chart in Faroe Islands

Male
157,600 DKK
Female -22%
128,900 DKK

Marine Cargo Inspector Average Pay Raise in Faroe Islands

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 Marine Cargo Inspector in Faroe Islands is around 5% every 30 months.

The national average pay raise across all professions and industries in Faroe Islands 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 ÷ 30 ) × 12  = 2%

What this means is that a Marine Cargo Inspector in Faroe Islands can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Faroe Islands for 2024

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

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%

Marine Cargo Inspector Bonus and Incentive Rates in Faroe Islands

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 Marine Cargo Inspector is a low bonus based job, with 40% of employees reporting at least one bonus in the last 12 months.

60% 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 2% to 7%.

Received Bonus
40%
No Bonus
60%

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 Faroe Islands earn approximately 19% more than private sector employees in the same role.

Public Sector
352,000 DKK
Private Sector -19%
297,000 DKK

Salaries for Jobs Similar to a Marine Cargo Inspector

In the table below, we have salary information for jobs that are similar to a Marine Cargo Inspector in Faroe Islands.

Job Title Category Salary
Customs Controller Import and Export 207,800 DKK
Expeditor Import and Export 194,600 DKK
Export Administrator Import and Export 281,500 DKK
Export Controller Import and Export 197,600 DKK
Export Executive Import and Export 273,000 DKK
Export Logistics Manager Import and Export 409,000 DKK
Export Logistics Specialist Import and Export 296,000 DKK
Export Services Manager Import and Export 437,900 DKK
Export Specialist Import and Export 225,300 DKK
Export Supervisor Import and Export 288,700 DKK
Exports Sales Manager Import and Export 485,300 DKK
Freight Forwarder Import and Export 106,960 DKK
Global Forwarding Agent Import and Export 212,500 DKK
Immigration and Customs Inspector Import and Export 164,200 DKK
Import and Export Clerk Import and Export 103,900 DKK
Import and Export Consultant Import and Export 407,300 DKK
Import and Export Manager Import and Export 507,300 DKK
Import and Procurement Manager Import and Export 480,600 DKK
Import Coordinator Import and Export 172,200 DKK
Import Customs Specialist Import and Export 197,600 DKK
Import Logistics Specialist Import and Export 225,300 DKK
Importation Supervisor Import and Export 332,100 DKK
Inspector Import and Export 175,900 DKK
Logistic Executive Import and Export 238,900 DKK
Logistician Import and Export 111,860 DKK
Logistics Administrator Import and Export 246,200 DKK
Logistics Analyst Import and Export 254,800 DKK
Logistics Specialist Import and Export 221,500 DKK
Shipping Officer Import and Export 108,340 DKK

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