Average Payroll Assistant Salary in Bahamas for 2024

In this article, we will look at the average Payroll Assistant 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 Payroll Assistant Make in Bahamas?

A Payroll Assistant working in Bahamas will typically earn around 23,600 BSD per year, and this can range from the lowest average salary of about 12,200 BSD to the highest average salary of 40,300 BSD.

Average Annual Salary
23,600 BSD
Average Monthly Salary
1,966 BSD

Lowest Annual Salary
12,200 BSD
Lowest Monthly Salary
1,016 BSD

Highest Annual Salary
40,300 BSD
Highest Monthly Salary
3,358 BSD

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

Payroll Assistant 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 Payroll Assistant Salaries in Bahamas

So we've looked at the average salaries a Payroll Assistant will earn in Bahamas. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Payroll Assistant can earn between 12,200 BSD and 40,300 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 Payroll Assistant in Bahamas is 26,500 BSD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 26,500 BSD, and 50% of the population earn more than 26,500 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 Payroll Assistant salary in Bahamas, 25% of the population are earning less than 16,000 BSD while 75% of the population earn more than 16,000 BSD.

75% of the population earn less than 35,000 BSD, and 25% of the population earn more than 35,000 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.

Payroll Assistant 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 payroll assistant 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 Payroll Assistant in Bahamas that has less than two years of experience can expect to earn somewhere in the region of 13,400 BSD.
  • 2 - 5 Years Experience. With two to five years of experience the average Payroll Assistant salary would increase to 15,700 BSD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Payroll Assistant, the average salary would be 27,600 BSD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 32,200 BSD.
  • 15 - 20 Years Experience. A Payroll Assistant with 15 to 20 years of experience can earn an average of 35,300 BSD.
  • 20+ Years Experience. For a Payroll Assistant with more than 20 years, the expected average salary increases to 35,400 BSD.

Average Salary by Experience Chart

0-2 Years
13,400 BSD
2-5 Years +34%
15,700 BSD
5-10 Years +48%
27,600 BSD
10-15 Years +22%
32,200 BSD
15-20 Years +9%
35,300 BSD
20+ Years +8%
35,400 BSD

Payroll Assistant 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 Payroll Assistant in Bahamas based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. A Payroll Assistant in Bahamas with a certificate or diploma education can earn an average salary of 17,100 BSD.

  • Bachelor's Degree. A Payroll Assistant in Bahamas with a bachelor's degree education can earn an average salary of 30,100 BSD.

Average Salary by Education Chart

Certificate or Diploma
17,100 BSD
Bachelor's Degree +93%
30,100 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.

Payroll Assistant 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 payroll assistant will earn an average of 26,200 BSD, while a female payroll assistant will earn around 21,300 BSD.

This means that a male payroll assistant earns approximately 23% more than a female payroll assistant for performing the same job.

Average Salary by Gender Chart in Bahamas

Male
26,200 BSD
Female -23%
21,300 BSD

Payroll Assistant 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 Payroll Assistant in Bahamas is around 7% 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 = ( 7 ÷ 28 ) × 12  = 3%

What this means is that a Payroll Assistant 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%

Payroll Assistant 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 Payroll Assistant 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 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 Payroll Assistant

In the table below, we have salary information for jobs that are similar to a Payroll Assistant in Bahamas.

Job Title Category Salary
Benefits Administrator Human Resources 30,800 BSD
Benefits Analyst Human Resources 35,200 BSD
Benefits Manager Human Resources 64,900 BSD
Benefits Specialist Human Resources 39,100 BSD
Chief Human Resources Officer Human Resources 79,000 BSD
Chief People Officer Human Resources 82,200 BSD
Compensation Analyst Human Resources 36,900 BSD
Compensation and Benefits Manager Human Resources 64,800 BSD
Compensation and Benefits Officer Human Resources 26,900 BSD
Compensation and Benefits Specialist Human Resources 39,100 BSD
Compensation Manager Human Resources 64,800 BSD
Corporate Director of Human Resources Human Resources 78,500 BSD
Corporate Recruiter Human Resources 51,100 BSD
Corporate Trainer Human Resources 36,700 BSD
Director of Talent Acquisition Human Resources 71,400 BSD
Employee Benefits Administrator Human Resources 44,500 BSD
Employee Benefits Consultant Human Resources 58,100 BSD
Employee Benefits Coordinator Human Resources 23,800 BSD
Employee Communications Manager Human Resources 51,900 BSD
Employee Development Specialist Human Resources 49,300 BSD
Employee Engagement Specialist Human Resources 53,600 BSD
Employee Health and Wellness Administrator Human Resources 47,800 BSD
Employee Performance Specialist Human Resources 39,100 BSD
Employee Relations Analyst Human Resources 51,100 BSD
Employee Relations Manager Human Resources 56,100 BSD
Employee Relations Practitioner Human Resources 57,800 BSD
Employee Relations Representative Human Resources 39,500 BSD
Employee Relations Specialist Human Resources 50,100 BSD
Employee Services Manager Human Resources 55,200 BSD
Employee Services Specialist Human Resources 54,600 BSD
Employee Wellness Officer Human Resources 38,900 BSD
Employment Advice Worker Human Resources 25,300 BSD
Employment Interviewer Human Resources 39,400 BSD
Employment Relations Officer Human Resources 23,400 BSD
Employment Service Specialist Human Resources 28,900 BSD
Employment Services Coordinator Human Resources 32,600 BSD
Enrollment Counselor Human Resources 50,300 BSD
Equal Opportunity Representative Human Resources 35,600 BSD
Executive Human Capital Management Human Resources 74,100 BSD
Executive Recruiter Human Resources 53,500 BSD
Expatriate Administration Manager Human Resources 53,600 BSD
Expatriate Administration Supervisor Human Resources 34,900 BSD
Global Mobility Manager Human Resources 61,500 BSD
Head of Human Resources Human Resources 74,500 BSD
Headhunter Human Resources 54,100 BSD
Health Benefits Coordinator Human Resources 31,700 BSD
HRIS Analyst Human Resources 28,800 BSD
HRIS Manager Human Resources 47,500 BSD
HRIS Officer Human Resources 22,100 BSD
HRIS Supervisor Human Resources 26,200 BSD
Human Resources Administration Specialist Human Resources 29,200 BSD
Human Resources Administrative Assistant Human Resources 22,100 BSD
Human Resources Administrative Coordinator Human Resources 32,900 BSD
Human Resources Administrator Human Resources 33,000 BSD
Human Resources Advisor Human Resources 49,800 BSD
Human Resources Analyst Human Resources 45,600 BSD
Human Resources Assessor Human Resources 31,300 BSD
Human Resources Assistant Human Resources 19,300 BSD
Human Resources Assistant Manager Human Resources 55,100 BSD
Human Resources Associate Human Resources 20,400 BSD
Human Resources Consultant Human Resources 61,500 BSD
Human Resources Coordinator Human Resources 22,200 BSD
Human Resources Data Analytics Manager Human Resources 45,300 BSD
Human Resources Deputy Manager Human Resources 58,100 BSD
Human Resources Development Manager Human Resources 67,200 BSD
Human Resources Director Human Resources 78,900 BSD
Human Resources Executive Human Resources 51,300 BSD
Human Resources Generalist Human Resources 38,900 BSD
Human Resources Manager Human Resources 67,800 BSD
Human Resources Officer Human Resources 29,200 BSD
Human Resources Recruiter Human Resources 53,500 BSD
Human Resources Representative Human Resources 26,400 BSD
Human Resources Section Head Human Resources 50,500 BSD
Human Resources Services Manager Human Resources 63,700 BSD
Human Resources Specialist Human Resources 41,700 BSD
Human Resources Superintendent Human Resources 27,700 BSD
Human Resources Training Executive Human Resources 52,300 BSD
Human Resources Vice President Human Resources 76,600 BSD
Industrial Organizational Psychologist Human Resources 66,400 BSD
Job Evaluation Specialist Human Resources 51,600 BSD
Labor Relations Director Human Resources 58,500 BSD
Labor Relations Manager Human Resources 61,400 BSD
Labor Relations Specialist Human Resources 29,000 BSD
Learning and Development Manager Human Resources 64,300 BSD
Occupational Health and Safety Officer Human Resources 29,300 BSD
Organizational Development Consultant Human Resources 58,600 BSD
Organizational Development Manager Human Resources 65,900 BSD
Organizational Development Specialist Human Resources 32,600 BSD
Payroll Supervisor Human Resources 31,800 BSD
People Development Officer Human Resources 38,000 BSD
Personnel Officer Human Resources 23,400 BSD
Personnel Recruiter Human Resources 52,000 BSD
Records Clerk Human Resources 20,200 BSD
Records Manager Human Resources 29,400 BSD
Recruiter Human Resources 53,300 BSD
Recruiting Coordinator Human Resources 25,800 BSD
Recruiting Manager Human Resources 71,100 BSD
Recruitment Consultant Human Resources 50,100 BSD
Recruitment Officer Human Resources 26,900 BSD
Recruitment Supervisor Human Resources 43,800 BSD
Research Associate Human Resources 23,100 BSD
SAP Resource Manager Human Resources 56,100 BSD
Talent Acquisition Manager Human Resources 69,700 BSD
Talent Acquisition Specialist Human Resources 42,700 BSD
Talent Management Officer Human Resources 32,300 BSD
Technical Recruiter Human Resources 35,100 BSD
Training Administrator Human Resources 30,800 BSD
Training and Development Manager Human Resources 67,000 BSD
Training and Development Section Head Human Resources 52,800 BSD
Training Executive Human Resources 60,500 BSD
Training Manager Human Resources 60,600 BSD
Training Officer Human Resources 27,400 BSD
Training Specialist Human Resources 40,300 BSD

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