Average Procurement Associate Salary in Bermuda for 2024

In this article, we will look at the average Procurement Associate salary for 2024 in Bermuda 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 Bermudian dollar. To keep things simple, we are using the BMD currency code instead of the currency symbol $.

How Much Does a Procurement Associate Make in Bermuda?

A Procurement Associate working in Bermuda will typically earn around 18,280 BMD per year, and this can range from the lowest average salary of about 9,460 BMD to the highest average salary of 27,560 BMD.

Average Annual Salary
18,280 BMD
Average Monthly Salary
1,523 BMD

Lowest Annual Salary
9,460 BMD
Lowest Monthly Salary
788 BMD

Highest Annual Salary
27,560 BMD
Highest Monthly Salary
2,296 BMD

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

Procurement Associate 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 Procurement Associate Salaries in Bermuda

So we've looked at the average salaries a Procurement Associate will earn in Bermuda. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Procurement Associate can earn between 9,460 BMD and 27,560 BMD on average in Bermuda. 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 Procurement Associate in Bermuda is 19,640 BMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 19,640 BMD, and 50% of the population earn more than 19,640 BMD.

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 Procurement Associate salary in Bermuda, 25% of the population are earning less than 12,120 BMD while 75% of the population earn more than 12,120 BMD.

75% of the population earn less than 21,300 BMD, and 25% of the population earn more than 21,300 BMD.

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.

Procurement Associate Salary by Experience Level in Bermuda

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 procurement associate 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 Procurement Associate in Bermuda that has less than two years of experience can expect to earn somewhere in the region of 10,080 BMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Procurement Associate salary would increase to 17,020 BMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Procurement Associate, the average salary would be 19,480 BMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 23,660 BMD.
  • 15 - 20 Years Experience. A Procurement Associate with 15 to 20 years of experience can earn an average of 24,720 BMD.
  • 20+ Years Experience. For a Procurement Associate with more than 20 years, the expected average salary increases to 26,660 BMD.

Average Salary by Experience Chart

0-2 Years
10,080 BMD
2-5 Years +34%
17,020 BMD
5-10 Years +30%
19,480 BMD
10-15 Years +21%
23,660 BMD
15-20 Years +9%
24,720 BMD
20+ Years +5%
26,660 BMD

Procurement Associate Salary by Education Level in Bermuda

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 Procurement Associate in Bermuda 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 Procurement Associate in Bermuda with a high school education can earn an average salary of 14,620 BMD.

  • Certificate or Diploma. A Procurement Associate in Bermuda with a certificate or diploma education can earn an average salary of 18,280 BMD.

  • Bachelor's Degree. A Procurement Associate in Bermuda with a bachelor's degree education can earn an average salary of 27,300 BMD.

Average Salary by Education Chart

High School
14,620 BMD
Certificate or Diploma +43%
18,280 BMD
Bachelor's Degree +38%
27,300 BMD

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 Bermuda is around 7,970 to 23,900 BMD 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.

Procurement Associate 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 Bermuda, a male procurement associate will earn an average of 19,380 BMD, while a female procurement associate will earn around 19,640 BMD.

This means that a male procurement associate earns approximately 1% less than a female procurement associate for performing the same job.

Average Salary by Gender Chart in Bermuda

Male
19,380 BMD
Female +1%
19,640 BMD

Procurement Associate Average Pay Raise in Bermuda

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 Procurement Associate in Bermuda is around 7% every 30 months.

The national average pay raise across all professions and industries in Bermuda 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 ÷ 30 ) × 12  = 3%

What this means is that a Procurement Associate in Bermuda can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Bermuda for 2024

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

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

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

Procurement Associate Bonus and Incentive Rates in Bermuda

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 Procurement Associate is a low bonus based job, with 35% of employees reporting at least one bonus in the last 12 months.

65% 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
35%
No Bonus
65%

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 Bermuda earn approximately 33% more than private sector employees in the same role.

Public Sector
21,540 BMD
Private Sector -33%
16,140 BMD

Salaries for Jobs Similar to a Procurement Associate

In the table below, we have salary information for jobs that are similar to a Procurement Associate in Bermuda.

Job Title Category Salary
Asset Management Associate Purchasing and Inventory 15,920 BMD
Asset Protection Associate Purchasing and Inventory 17,540 BMD
Asset Protection Specialist Purchasing and Inventory 17,860 BMD
Assistant Buyer Purchasing and Inventory 13,100 BMD
Buyer Purchasing and Inventory 25,660 BMD
Capacity Planner Purchasing and Inventory 20,500 BMD
Category Leader Purchasing and Inventory 17,560 BMD
Category Management Specialist Purchasing and Inventory 19,200 BMD
Category Manager Purchasing and Inventory 19,020 BMD
Channel Services Representative Purchasing and Inventory 20,300 BMD
Contracts Manager Purchasing and Inventory 23,520 BMD
Contracts Specialist Purchasing and Inventory 16,720 BMD
Demand Planner Purchasing and Inventory 19,640 BMD
Demand Planning Manager Purchasing and Inventory 23,520 BMD
Distribution Assistant Purchasing and Inventory 14,660 BMD
Distribution Associate Purchasing and Inventory 17,260 BMD
Distribution Manager Purchasing and Inventory 34,240 BMD
Inventory Analyst Purchasing and Inventory 17,860 BMD
Inventory Control Clerk Purchasing and Inventory 8,560 BMD
Inventory Control Manager Purchasing and Inventory 23,140 BMD
Inventory Management Associate Purchasing and Inventory 15,700 BMD
Inventory Specialist Purchasing and Inventory 18,780 BMD
Logistics Engineer Purchasing and Inventory 15,580 BMD
Master Planner Purchasing and Inventory 16,720 BMD
Material Handler Purchasing and Inventory 9,740 BMD
Material Planning Specialist Purchasing and Inventory 17,020 BMD
Merchandise Manager Purchasing and Inventory 19,020 BMD
Procurement Administrator Purchasing and Inventory 20,940 BMD
Procurement Agent Purchasing and Inventory 11,880 BMD
Procurement Analyst Purchasing and Inventory 21,020 BMD
Procurement Assistant Purchasing and Inventory 12,240 BMD
Procurement Clerk Purchasing and Inventory 8,960 BMD
Procurement Engineer Purchasing and Inventory 17,540 BMD
Procurement Manager Purchasing and Inventory 33,980 BMD
Procurement Officer Purchasing and Inventory 10,100 BMD
Procurement Process Analyst Purchasing and Inventory 21,640 BMD
Procurement Specialist Purchasing and Inventory 17,260 BMD
Production Planner Purchasing and Inventory 19,020 BMD
Project Buyer Purchasing and Inventory 21,980 BMD
Purchaser Purchasing and Inventory 27,300 BMD
Purchasing Agent Purchasing and Inventory 12,580 BMD
Purchasing Assistant Purchasing and Inventory 9,440 BMD
Purchasing Manager Purchasing and Inventory 32,420 BMD
Purchasing Officer Purchasing and Inventory 14,140 BMD
Purchasing Supervisor Purchasing and Inventory 23,080 BMD
Shipping and Receiving Clerk Purchasing and Inventory 8,780 BMD
Shipping Coordinator Purchasing and Inventory 16,720 BMD
Stock Clerk Purchasing and Inventory 8,560 BMD
Stock Regulator Purchasing and Inventory 7,820 BMD
Storage Manager Purchasing and Inventory 23,400 BMD
Store Keeper Purchasing and Inventory 10,320 BMD
Stores and Logistics Coordinator Purchasing and Inventory 19,200 BMD
Supply Chain Analyst Purchasing and Inventory 26,020 BMD
Supply Chain Coordinator Purchasing and Inventory 16,980 BMD
Supply Chain Development Manager Purchasing and Inventory 35,500 BMD
Supply Chain Director Purchasing and Inventory 37,200 BMD
Supply Chain Manager Purchasing and Inventory 35,500 BMD
Supply Planner Purchasing and Inventory 18,780 BMD
Warehouse Assistant Purchasing and Inventory 8,440 BMD
Warehouse Clerk Purchasing and Inventory 5,960 BMD
Warehouse Executive Purchasing and Inventory 27,480 BMD
Warehouse Lead Purchasing and Inventory 20,500 BMD
Warehouse Manager Purchasing and Inventory 30,800 BMD
Warehouse Supervisor Purchasing and Inventory 23,400 BMD
Wholesale Buyer Purchasing and Inventory 26,780 BMD

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