Average Real Estate Broker Salary in Turks and Caicos Islands for 2024

In this article, we will look at the average Real Estate Broker salary for 2024 in Turks and Caicos 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 United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does a Real Estate Broker Make in Turks and Caicos Islands?

A Real Estate Broker working in Turks and Caicos Islands will typically earn around 14,820 USD per year, and this can range from the lowest average salary of about 9,020 USD to the highest average salary of 23,660 USD.

Average Annual Salary
14,820 USD
Average Monthly Salary
1,235 USD

Lowest Annual Salary
9,020 USD
Lowest Monthly Salary
751 USD

Highest Annual Salary
23,660 USD
Highest Monthly Salary
1,971 USD

These are average salaries for a Real Estate Broker in Turks and Caicos Islands and include benefits such as housing and transport. It's also possible for a Real Estate Broker to earn more or less than the average salaries shown above.

Real Estate Broker 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 Real Estate Broker Salaries in Turks and Caicos Islands

So we've looked at the average salaries a Real Estate Broker will earn in Turks and Caicos Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Real Estate Broker can earn between 9,020 USD and 23,660 USD on average in Turks and Caicos 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 Real Estate Broker in Turks and Caicos Islands is 14,200 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 14,200 USD, and 50% of the population earn more than 14,200 USD.

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 Real Estate Broker salary in Turks and Caicos Islands, 25% of the population are earning less than 12,020 USD while 75% of the population earn more than 12,020 USD.

75% of the population earn less than 15,920 USD, and 25% of the population earn more than 15,920 USD.

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.

Real Estate Broker Salary by Experience Level in Turks and Caicos 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 real estate broker 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 Real Estate Broker in Turks and Caicos Islands that has less than two years of experience can expect to earn somewhere in the region of 9,140 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Real Estate Broker salary would increase to 10,980 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Real Estate Broker, the average salary would be 17,540 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 19,020 USD.
  • 15 - 20 Years Experience. A Real Estate Broker with 15 to 20 years of experience can earn an average of 21,560 USD.
  • 20+ Years Experience. For a Real Estate Broker with more than 20 years, the expected average salary increases to 21,980 USD.

Average Salary by Experience Chart

0-2 Years
9,140 USD
2-5 Years +26%
10,980 USD
5-10 Years +32%
17,540 USD
10-15 Years +18%
19,020 USD
15-20 Years +11%
21,560 USD
20+ Years +6%
21,980 USD

Real Estate Broker Salary by Education Level in Turks and Caicos 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 Real Estate Broker in Turks and Caicos 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 Real Estate Broker in Turks and Caicos Islands with a high school education can earn an average salary of 12,200 USD.

  • Certificate or Diploma. A Real Estate Broker in Turks and Caicos Islands with a certificate or diploma education can earn an average salary of 13,960 USD.

  • Bachelor's Degree. A Real Estate Broker in Turks and Caicos Islands with a bachelor's degree education can earn an average salary of 17,860 USD.

  • Master's Degree. A Real Estate Broker in Turks and Caicos Islands with a master's degree education can earn an average salary of 23,380 USD.

Average Salary by Education Chart

High School
12,200 USD
Certificate or Diploma +13%
13,960 USD
Bachelor's Degree +32%
17,860 USD
Master's Degree +24%
23,380 USD

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 Turks and Caicos Islands is around 7,430 to 22,300 USD 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.

Real Estate Broker 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 Turks and Caicos Islands, a male real estate broker will earn an average of 16,400 USD, while a female real estate broker will earn around 15,880 USD.

This means that a male real estate broker earns approximately 3% more than a female real estate broker for performing the same job.

Average Salary by Gender Chart in Turks and Caicos Islands

Male
16,400 USD
Female -3%
15,880 USD

Real Estate Broker Average Pay Raise in Turks and Caicos 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 Real Estate Broker in Turks and Caicos Islands is around 6% every 29 months.

The national average pay raise across all professions and industries in Turks and Caicos 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 = ( 6 ÷ 29 ) × 12  = 2%

What this means is that a Real Estate Broker in Turks and Caicos Islands can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Turks and Caicos Islands for 2024

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

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%

Real Estate Broker Bonus and Incentive Rates in Turks and Caicos 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 Real Estate Broker is a low bonus based job, with 33% of employees reporting at least one bonus in the last 12 months.

67% 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 4% to 5%.

Received Bonus
33%
No Bonus
67%

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 Turks and Caicos Islands earn approximately 3% less than private sector employees in the same role.

Public Sector
18,280 USD
Private Sector +3%
18,780 USD

Salaries for Jobs Similar to a Real Estate Broker

In the table below, we have salary information for jobs that are similar to a Real Estate Broker in Turks and Caicos Islands.

Job Title Category Salary
Acquisition Associate Real Estate 13,100 USD
Assistant Leasing Manager Real Estate 19,360 USD
Assistant Property Manager Real Estate 20,940 USD
Brokerage Real Estate 17,100 USD
Brokerage Clerk Real Estate 8,780 USD
Commercial Leasing Manager Real Estate 28,860 USD
Commercial Real Estate Manager Real Estate 34,080 USD
Community Development Manager Real Estate 27,020 USD
Compliance Specialist Real Estate 14,540 USD
Development Coordinator Real Estate 13,560 USD
Director of Real Estate Real Estate 32,900 USD
Lease Administrator Real Estate 19,480 USD
Leasing Agent Real Estate 14,140 USD
Leasing Consultant Real Estate 19,200 USD
Leasing Manager Real Estate 21,560 USD
Lettings Assistant Real Estate 7,300 USD
Portfolio Analyst Real Estate 27,020 USD
Portfolio Manager Real Estate 34,120 USD
Property Acquisition Agent Real Estate 12,620 USD
Property and Claims Specialist Real Estate 18,940 USD
Property Manager Real Estate 23,400 USD
Property Operations Manager Real Estate 31,940 USD
Property Tax Assistant Real Estate 14,840 USD
Real Estate Administrator Real Estate 15,700 USD
Real Estate Agent Real Estate 17,620 USD
Real Estate Analyst Real Estate 21,540 USD
Real Estate Appraiser Real Estate 15,380 USD
Real Estate Appraiser Real Estate 16,340 USD
Real Estate Assistant Real Estate 13,100 USD
Real Estate Association Manager Real Estate 23,520 USD
Real Estate General Manager Real Estate 30,700 USD
Real Estate Project Director Real Estate 31,400 USD
Real Estate Project Manager Real Estate 29,040 USD
Real Estate Sales Agent Real Estate 17,260 USD
Real Estate Valuer Real Estate 18,260 USD
Research Analyst Real Estate 12,620 USD
Residential Advisor Real Estate 19,020 USD
Residential Property Manager Real Estate 20,000 USD
Shopping Center Manager Real Estate 32,900 USD
Town Planner Real Estate 30,220 USD

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