Average Quality Executive Salary in Bahamas for 2024

In this article, we will look at the average Quality Executive 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 Quality Executive Make in Bahamas?

A Quality Executive working in Bahamas will typically earn around 56,100 BSD per year, and this can range from the lowest average salary of about 24,200 BSD to the highest average salary of 86,100 BSD.

Average Annual Salary
56,100 BSD
Average Monthly Salary
4,675 BSD

Lowest Annual Salary
24,200 BSD
Lowest Monthly Salary
2,016 BSD

Highest Annual Salary
86,100 BSD
Highest Monthly Salary
7,175 BSD

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

Quality Executive 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 Quality Executive Salaries in Bahamas

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

Salary ranges

We already know that a Quality Executive can earn between 24,200 BSD and 86,100 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 Quality Executive in Bahamas is 59,000 BSD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 59,000 BSD, and 50% of the population earn more than 59,000 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 Quality Executive salary in Bahamas, 25% of the population are earning less than 36,700 BSD while 75% of the population earn more than 36,700 BSD.

75% of the population earn less than 78,200 BSD, and 25% of the population earn more than 78,200 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.

Quality Executive 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 quality executive 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 Quality Executive in Bahamas that has less than two years of experience can expect to earn somewhere in the region of 31,200 BSD.
  • 2 - 5 Years Experience. With two to five years of experience the average Quality Executive salary would increase to 40,200 BSD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Quality Executive, the average salary would be 59,800 BSD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 71,600 BSD.
  • 15 - 20 Years Experience. A Quality Executive with 15 to 20 years of experience can earn an average of 74,600 BSD.
  • 20+ Years Experience. For a Quality Executive with more than 20 years, the expected average salary increases to 83,700 BSD.

Average Salary by Experience Chart

0-2 Years
31,200 BSD
2-5 Years +38%
40,200 BSD
5-10 Years +42%
59,800 BSD
10-15 Years +22%
71,600 BSD
15-20 Years +6%
74,600 BSD
20+ Years +9%
83,700 BSD

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

  • Bachelor's Degree. A Quality Executive in Bahamas with a bachelor's degree education can earn an average salary of 40,200 BSD.

  • Master's Degree. A Quality Executive in Bahamas with a master's degree education can earn an average salary of 74,600 BSD.

Average Salary by Education Chart

Bachelor's Degree
40,200 BSD
Master's Degree +83%
74,600 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.

Quality Executive 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 quality executive will earn an average of 60,500 BSD, while a female quality executive will earn around 50,100 BSD.

This means that a male quality executive earns approximately 21% more than a female quality executive for performing the same job.

Average Salary by Gender Chart in Bahamas

Male
60,500 BSD
Female -21%
50,100 BSD

Quality Executive 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 Quality Executive in Bahamas is around 8% 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 = ( 8 ÷ 30 ) × 12  = 3%

What this means is that a Quality Executive 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%

Quality Executive 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 Quality Executive is a moderate bonus based job, with 66% of employees reporting at least one bonus in the last 12 months.

34% 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 5% to 9%.

Received Bonus
66%
No Bonus
34%

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 Quality Executive

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

Job Title Category Salary
Approval Team Manager Quality Control and Compliance 55,700 BSD
Assistant Quality Manager Quality Control and Compliance 53,500 BSD
Compliance Officer Quality Control and Compliance 30,600 BSD
Document Analyst Quality Control and Compliance 24,200 BSD
Document Control Officer Quality Control and Compliance 22,200 BSD
Document Control Specialist Quality Control and Compliance 27,300 BSD
HACCP Coordinator Quality Control and Compliance 27,800 BSD
Inspection Supervisor Quality Control and Compliance 46,400 BSD
Internal Compliance Officer Quality Control and Compliance 30,800 BSD
Product Complaints Associate Quality Control and Compliance 30,700 BSD
Product Owner Quality Control and Compliance 51,500 BSD
Product Quality Leader Quality Control and Compliance 57,100 BSD
QMS Coordinator Quality Control and Compliance 29,400 BSD
Quality and Safety Site Leader Quality Control and Compliance 54,600 BSD
Quality Assurance Administrator Quality Control and Compliance 45,000 BSD
Quality Assurance Analyst Quality Control and Compliance 57,000 BSD
Quality Assurance Associate Quality Control and Compliance 33,600 BSD
Quality Assurance Auditor Quality Control and Compliance 45,600 BSD
Quality Assurance Document Control Quality Control and Compliance 22,000 BSD
Quality Assurance Engineer Quality Control and Compliance 28,900 BSD
Quality Assurance Executive Quality Control and Compliance 73,500 BSD
Quality Assurance Inspector Quality Control and Compliance 46,000 BSD
Quality Assurance Manager Quality Control and Compliance 76,000 BSD
Quality Assurance Specialist Quality Control and Compliance 48,500 BSD
Quality Assurance Supervisor Quality Control and Compliance 54,700 BSD
Quality Assurance Technician Quality Control and Compliance 27,200 BSD
Quality Assurance Tester Quality Control and Compliance 27,400 BSD
Quality Control Analyst Quality Control and Compliance 47,200 BSD
Quality Control and Compliance Officer Quality Control and Compliance 28,900 BSD
Quality Control and Quality Assurance Officer Quality Control and Compliance 34,100 BSD
Quality Control Auditor Quality Control and Compliance 44,200 BSD
Quality Control Chemist Quality Control and Compliance 55,700 BSD
Quality Control Coordinator Quality Control and Compliance 31,400 BSD
Quality Control Engineer Quality Control and Compliance 32,900 BSD
Quality Control Executive Quality Control and Compliance 73,200 BSD
Quality Control Manager Quality Control and Compliance 75,800 BSD
Quality Control Supervisor Quality Control and Compliance 55,700 BSD
Quality Control Technician Quality Control and Compliance 26,900 BSD
Quality Data Analyst Quality Control and Compliance 46,200 BSD
Quality Director Quality Control and Compliance 78,500 BSD
Quality Engineer Quality Control and Compliance 27,200 BSD
Quality Improvement Coordinator Quality Control and Compliance 33,000 BSD
Quality Management Officer Quality Control and Compliance 29,200 BSD
Quality Manager Quality Control and Compliance 79,800 BSD
Quality Surveyor Quality Control and Compliance 44,500 BSD
Quality Trainer Quality Control and Compliance 54,100 BSD
Six Sigma Black Belt Quality Control and Compliance 59,200 BSD

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Quality Executive Salary in Bahamas for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-quality-executive-salary-in-bahamas/.

  • "Average Quality Executive Salary in Bahamas for 2024". World Salaries, https://worldsalaries.com/average-quality-executive-salary-in-bahamas/. Accessed 28 March, 2024

  • Average Quality Executive Salary in Bahamas for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-quality-executive-salary-in-bahamas/.