Average Merchandise Planner Salary in Cayman Islands for 2024

In this article, we will look at the average Merchandise Planner salary for 2024 in Cayman 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 Cayman Islands dollar. To keep things simple, we are using the KYD currency code instead of the currency symbol $.

How Much Does a Merchandise Planner Make in Cayman Islands?

A Merchandise Planner working in Cayman Islands will typically earn around 21,100 KYD per year, and this can range from the lowest average salary of about 9,500 KYD to the highest average salary of 29,600 KYD.

Average Annual Salary
21,100 KYD
Average Monthly Salary
1,758 KYD

Lowest Annual Salary
9,500 KYD
Lowest Monthly Salary
791 KYD

Highest Annual Salary
29,600 KYD
Highest Monthly Salary
2,466 KYD

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

Merchandise Planner 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 Merchandise Planner Salaries in Cayman Islands

So we've looked at the average salaries a Merchandise Planner will earn in Cayman Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Merchandise Planner can earn between 9,500 KYD and 29,600 KYD on average in Cayman 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 Merchandise Planner in Cayman Islands is 19,100 KYD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 19,100 KYD, and 50% of the population earn more than 19,100 KYD.

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 Merchandise Planner salary in Cayman Islands, 25% of the population are earning less than 13,900 KYD while 75% of the population earn more than 13,900 KYD.

75% of the population earn less than 24,200 KYD, and 25% of the population earn more than 24,200 KYD.

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.

Merchandise Planner Salary by Experience Level in Cayman 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 merchandise planner 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 Merchandise Planner in Cayman Islands that has less than two years of experience can expect to earn somewhere in the region of 13,900 KYD.
  • 2 - 5 Years Experience. With two to five years of experience the average Merchandise Planner salary would increase to 16,400 KYD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Merchandise Planner, the average salary would be 21,400 KYD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 24,400 KYD.
  • 15 - 20 Years Experience. A Merchandise Planner with 15 to 20 years of experience can earn an average of 26,500 KYD.
  • 20+ Years Experience. For a Merchandise Planner with more than 20 years, the expected average salary increases to 30,100 KYD.

Average Salary by Experience Chart

0-2 Years
13,900 KYD
2-5 Years +34%
16,400 KYD
5-10 Years +30%
21,400 KYD
10-15 Years +21%
24,400 KYD
15-20 Years +9%
26,500 KYD
20+ Years +5%
30,100 KYD

Merchandise Planner Salary by Education Level in Cayman 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 Merchandise Planner in Cayman 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 Merchandise Planner in Cayman Islands with a high school education can earn an average salary of 15,500 KYD.

  • Certificate or Diploma. A Merchandise Planner in Cayman Islands with a certificate or diploma education can earn an average salary of 15,700 KYD.

  • Bachelor's Degree. A Merchandise Planner in Cayman Islands with a bachelor's degree education can earn an average salary of 23,500 KYD.

  • Master's Degree. A Merchandise Planner in Cayman Islands with a master's degree education can earn an average salary of 27,200 KYD.

Average Salary by Education Chart

High School
15,500 KYD
Certificate or Diploma +14%
15,700 KYD
Bachelor's Degree +41%
23,500 KYD
Master's Degree +21%
27,200 KYD

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 Cayman Islands is around 16,200 to 48,600 KYD 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.

Merchandise Planner 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 Cayman Islands, a male merchandise planner will earn an average of 22,300 KYD, while a female merchandise planner will earn around 19,100 KYD.

This means that a male merchandise planner earns approximately 17% more than a female merchandise planner for performing the same job.

Average Salary by Gender Chart in Cayman Islands

Male
22,300 KYD
Female -17%
19,100 KYD

Merchandise Planner Average Pay Raise in Cayman 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 Merchandise Planner in Cayman Islands is around 9% every 26 months.

The national average pay raise across all professions and industries in Cayman Islands 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 = ( 9 ÷ 26 ) × 12  = 4%

What this means is that a Merchandise Planner in Cayman Islands can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Cayman Islands for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Merchandise Planner Bonus and Incentive Rates in Cayman 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 Merchandise Planner is a low bonus based job, with 34% of employees reporting at least one bonus in the last 12 months.

66% 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 5%.

Received Bonus
34%
No Bonus
66%

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

Public Sector
43,500 KYD
Private Sector -17%
37,200 KYD

Salaries for Jobs Similar to a Merchandise Planner

In the table below, we have salary information for jobs that are similar to a Merchandise Planner in Cayman Islands.

Job Title Category Salary
Assistant Business Development Manager Business Planning 51,900 KYD
Assistant Merchandise Planner Business Planning 29,100 KYD
Business Advisor Business Planning 48,600 KYD
Business Analyst Business Planning 47,400 KYD
Business Consultant Business Planning 46,900 KYD
Business Continuity Associate Business Planning 29,300 KYD
Business Developer Business Planning 29,100 KYD
Business Development Analyst Business Planning 33,000 KYD
Business Development Associate Business Planning 23,600 KYD
Business Development Coordinator Business Planning 26,200 KYD
Business Development Director Business Planning 70,000 KYD
Business Development Engineer Business Planning 35,200 KYD
Business Development Executive Business Planning 50,700 KYD
Business Development Manager Business Planning 63,100 KYD
Business Development Specialist Business Planning 45,600 KYD
Business Manager Business Planning 53,800 KYD
Business Operations Specialist Business Planning 46,100 KYD
Business Process Writer Business Planning 26,900 KYD
Business Systems Analyst Business Planning 47,600 KYD
Capacity Planner Business Planning 34,000 KYD
Capacity Planning Supervisor Business Planning 43,400 KYD
Change Communications Analyst Business Planning 44,700 KYD
Change Control Analyst Business Planning 43,400 KYD
Change Impact Analyst Business Planning 46,300 KYD
Contracts Executive Business Planning 44,200 KYD
Corporate Strategy Analyst Business Planning 50,700 KYD
Cost Control Engineer Business Planning 29,100 KYD
Cost Controller Business Planning 34,900 KYD
Cost Estimator Business Planning 30,700 KYD
Data Executive Business Planning 27,400 KYD
Data Manager Business Planning 34,900 KYD
Data Processing Manager Business Planning 42,300 KYD
Development Researcher Business Planning 33,000 KYD
Director of Business Development Business Planning 70,000 KYD
Director of Production Planning Business Planning 60,000 KYD
Due Diligence Analyst Business Planning 51,300 KYD
Estimating Manager Business Planning 51,400 KYD
General Manager Business Planning 59,500 KYD
Incident Handler Business Planning 34,000 KYD
Incident Specialist Business Planning 40,300 KYD
Lean Consultant Business Planning 33,300 KYD
Manager Business Planning 62,500 KYD
Marketing and Business Development Manager Business Planning 54,100 KYD
Materials Planner Business Planning 22,300 KYD
Merchandise Assistant Business Planning 17,800 KYD
Merchandise Controller Business Planning 20,900 KYD
Operations Analyst Business Planning 42,500 KYD
Operations Manager Business Planning 50,000 KYD
Operations Research Analyst Business Planning 27,200 KYD
Planning and Reporting Manager Business Planning 51,500 KYD
Planning Director Business Planning 62,600 KYD
Project Administrator Business Planning 30,200 KYD
Project Manager Business Planning 45,300 KYD
Project Planner Business Planning 29,100 KYD
Research Assistant Business Planning 26,900 KYD
Research Engineer Business Planning 27,700 KYD
Research Officer Business Planning 25,300 KYD
Risk Management Specialist Business Planning 46,300 KYD
Scholarship Coordinator Business Planning 22,200 KYD
Store Planner Business Planning 22,200 KYD
Strategy Director Business Planning 64,500 KYD
Top Research and Development Executive Business Planning 70,700 KYD

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