Average Revenue Manager Salary in Bermuda for 2024

In this article, we will look at the average Revenue Manager 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 Revenue Manager Make in Bermuda?

A Revenue Manager working in Bermuda will typically earn around 22,400 BMD per year, and this can range from the lowest average salary of about 12,840 BMD to the highest average salary of 38,060 BMD.

Average Annual Salary
22,400 BMD
Average Monthly Salary
1,866 BMD

Lowest Annual Salary
12,840 BMD
Lowest Monthly Salary
1,070 BMD

Highest Annual Salary
38,060 BMD
Highest Monthly Salary
3,171 BMD

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

Revenue Manager 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 Revenue Manager Salaries in Bermuda

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

Salary ranges

We already know that a Revenue Manager can earn between 12,840 BMD and 38,060 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 Revenue Manager in Bermuda is 24,720 BMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 24,720 BMD, and 50% of the population earn more than 24,720 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 Revenue Manager salary in Bermuda, 25% of the population are earning less than 15,380 BMD while 75% of the population earn more than 15,380 BMD.

75% of the population earn less than 33,980 BMD, and 25% of the population earn more than 33,980 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.

Revenue Manager 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 revenue manager 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 Revenue Manager in Bermuda that has less than two years of experience can expect to earn somewhere in the region of 13,700 BMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Revenue Manager salary would increase to 15,300 BMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Revenue Manager, the average salary would be 26,020 BMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 29,640 BMD.
  • 15 - 20 Years Experience. A Revenue Manager with 15 to 20 years of experience can earn an average of 31,980 BMD.
  • 20+ Years Experience. For a Revenue Manager with more than 20 years, the expected average salary increases to 35,340 BMD.

Average Salary by Experience Chart

0-2 Years
13,700 BMD
2-5 Years +34%
15,300 BMD
5-10 Years +48%
26,020 BMD
10-15 Years +22%
29,640 BMD
15-20 Years +9%
31,980 BMD
20+ Years +8%
35,340 BMD

Revenue Manager 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 Revenue Manager 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 Revenue Manager in Bermuda with a high school education can earn an average salary of 17,260 BMD.

  • Certificate or Diploma. A Revenue Manager in Bermuda with a certificate or diploma education can earn an average salary of 19,220 BMD.

  • Bachelor's Degree. A Revenue Manager in Bermuda with a bachelor's degree education can earn an average salary of 26,080 BMD.

  • Master's Degree. A Revenue Manager in Bermuda with a master's degree education can earn an average salary of 35,340 BMD.

Average Salary by Education Chart

High School
17,260 BMD
Certificate or Diploma +18%
19,220 BMD
Bachelor's Degree +45%
26,080 BMD
Master's Degree +31%
35,340 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.

Revenue Manager 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 revenue manager will earn an average of 25,160 BMD, while a female revenue manager will earn around 20,460 BMD.

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

Average Salary by Gender Chart in Bermuda

Male
25,160 BMD
Female -23%
20,460 BMD

Revenue Manager 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 Revenue Manager in Bermuda is around 10% every 27 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 = ( 10 ÷ 27 ) × 12  = 4%

What this means is that a Revenue Manager in Bermuda can expect to receive an average pay raise of around 4% 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%

Revenue Manager 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 Revenue Manager is a moderate bonus based job, with 67% of employees reporting at least one bonus in the last 12 months.

33% 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
67%
No Bonus
33%

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 Revenue Manager

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

Job Title Category Salary
Account Coordinator Executive and Management 19,200 BMD
Account Director Executive and Management 19,940 BMD
Account Executive Executive and Management 19,980 BMD
Account Manager Executive and Management 21,020 BMD
Administration Manager Executive and Management 20,460 BMD
Administration Officer Executive and Management 12,200 BMD
Administration Supervisor Executive and Management 15,700 BMD
Administrative Clerk Executive and Management 10,320 BMD
Administrative Officer Executive and Management 9,020 BMD
Area Director Executive and Management 21,560 BMD
Area Manager Executive and Management 20,940 BMD
Asset Protection Associate Executive and Management 22,340 BMD
Assistant Director Executive and Management 23,520 BMD
Assistant General Manager Executive and Management 21,980 BMD
Assistant Manager Executive and Management 22,340 BMD
Assistant Managing Director Executive and Management 24,200 BMD
Assistant Operations Manager Executive and Management 25,940 BMD
Assistant Project Manager Executive and Management 20,460 BMD
Assistant Section Head Executive and Management 18,280 BMD
Assistant to CEO Executive and Management 20,000 BMD
Assistant Vice President Executive and Management 24,820 BMD
Associate Account Director Executive and Management 20,460 BMD
Associate Director Executive and Management 25,220 BMD
Bid Manager Executive and Management 25,940 BMD
Branch Manager Executive and Management 25,160 BMD
Business Development Manager Executive and Management 30,840 BMD
Business Operations Associate Executive and Management 23,400 BMD
Business Operations Lead Executive and Management 24,820 BMD
Campaign Manager Executive and Management 25,940 BMD
Catering Coordinator Executive and Management 13,560 BMD
Catering Manager Executive and Management 23,380 BMD
CEO Executive and Management 46,720 BMD
Chairman of The Board Executive and Management 45,060 BMD
Chairman Office Manager Executive and Management 27,480 BMD
Chief Commercial Officer Executive and Management 32,960 BMD
Chief Corporate Officer Executive and Management 35,560 BMD
Chief Executive Officer Executive and Management 43,360 BMD
Chief Financial Officer Executive and Management 41,980 BMD
Chief Investment Officer Executive and Management 29,160 BMD
Chief of Staff Executive and Management 20,940 BMD
Chief Operating Officer Executive and Management 31,520 BMD
Chief Risk Officer Executive and Management 27,620 BMD
Client Account Manager Executive and Management 27,380 BMD
Client Accounts Officer Executive and Management 23,380 BMD
Client Services Manager Executive and Management 27,020 BMD
Commercial Director Executive and Management 31,080 BMD
Commercial Manager Executive and Management 27,380 BMD
Commercial Project Manager Executive and Management 21,300 BMD
Commodity Broker Executive and Management 17,760 BMD
COO Executive and Management 32,620 BMD
Corporate Affairs Executive Executive and Management 25,660 BMD
Corporate Compliance Director Executive and Management 27,020 BMD
Corporate Director Executive and Management 31,380 BMD
Corporate Officer Executive and Management 21,640 BMD
Corporate Partnerships Officer Executive and Management 19,160 BMD
Country Manager Executive and Management 35,300 BMD
Department Head Executive and Management 27,620 BMD
Department Manager Executive and Management 27,380 BMD
Department Supervisor Executive and Management 21,980 BMD
Deputy Director Executive and Management 28,860 BMD
Deputy Manager Executive and Management 31,540 BMD
Director Executive and Management 30,700 BMD
Director of Accreditation Executive and Management 26,860 BMD
Director of Catering Services Executive and Management 26,080 BMD
Director of Client Services Executive and Management 26,660 BMD
Director of Facilities Management Executive and Management 26,020 BMD
Director of Operations Executive and Management 26,860 BMD
Director of Process Simplification Executive and Management 22,420 BMD
Director of Product Management Executive and Management 28,900 BMD
Director of Project Management Executive and Management 29,640 BMD
Director of Revenue Management Executive and Management 26,280 BMD
Director of Training and Development Executive and Management 28,180 BMD
Distribution Manager Executive and Management 32,020 BMD
Division Manager Executive and Management 23,700 BMD
Duty Manager Executive and Management 27,380 BMD
Engagement Manager Executive and Management 32,200 BMD
Executive Director Executive and Management 45,600 BMD
Executive Manager Executive and Management 34,120 BMD
Franchise Manager Executive and Management 39,960 BMD
General Manager Executive and Management 31,520 BMD
Global Master Data Manager Executive and Management 28,680 BMD
Global Technical Lead Executive and Management 19,020 BMD
Head of Investment Executive and Management 28,900 BMD
Head of Middle Office Executive and Management 29,040 BMD
Head of Projects Executive and Management 30,840 BMD
Head of Strategy Executive and Management 33,520 BMD
Head of Supply Chain Executive and Management 24,720 BMD
Head of Sustainability Executive and Management 23,260 BMD
Housing Manager Executive and Management 21,300 BMD
HSE Manager Executive and Management 23,140 BMD
Key Account Manager Executive and Management 23,480 BMD
Knowledge Manager Executive and Management 28,820 BMD
Location Manager Executive and Management 28,820 BMD
Logistics Executive Executive and Management 22,540 BMD
Logistics Manager Executive and Management 21,300 BMD
Management Consultant Executive and Management 21,980 BMD
Management Executive Executive and Management 31,400 BMD
Manager Executive and Management 26,400 BMD
Managing Director Executive and Management 34,360 BMD
MIS Executive Executive and Management 31,660 BMD
Ocean Services Manager Executive and Management 31,400 BMD
Operational Manager Executive and Management 31,660 BMD
Operations Analyst Executive and Management 25,720 BMD
Operations Assistant Executive and Management 21,380 BMD
Operations Director Executive and Management 35,560 BMD
Operations Executive Executive and Management 33,440 BMD
Operations Manager Executive and Management 34,080 BMD
Operations Supervisor Executive and Management 27,040 BMD
Planning Director Executive and Management 32,200 BMD
PMO Manager Executive and Management 29,840 BMD
Policy Administration Executive Executive and Management 24,800 BMD
Private Sector Executive Executive and Management 27,380 BMD
Product Development Manager Executive and Management 29,320 BMD
Product Executive Executive and Management 23,260 BMD
Production Executive Executive and Management 28,660 BMD
Production Manager Executive and Management 30,700 BMD
Production Supervisor Executive and Management 25,940 BMD
Program Director Executive and Management 30,220 BMD
Program Manager Executive and Management 30,800 BMD
Programme Coordinator Executive and Management 21,540 BMD
Project Control Manager Executive and Management 32,620 BMD
Project Coordinator Executive and Management 19,640 BMD
Project Management Officer Executive and Management 21,020 BMD
Project Manager Executive and Management 21,560 BMD
Project Portfolio Manager Executive and Management 23,260 BMD
Quality Manager Executive and Management 22,340 BMD
R/D Director Executive and Management 28,820 BMD
Regional Director Executive and Management 40,040 BMD
Regional Manager Executive and Management 32,020 BMD
Relationship Manager Executive and Management 31,660 BMD
Retail District Manager Executive and Management 21,100 BMD
Risk and Capital Manager Executive and Management 32,200 BMD
Risk Officer Executive and Management 23,520 BMD
Safety Manager Executive and Management 22,540 BMD
Section Head Executive and Management 21,300 BMD
Service Manager Executive and Management 23,140 BMD
Shift Supervisor Executive and Management 19,200 BMD
Solutions Manager Executive and Management 21,540 BMD
Supervisor Executive and Management 15,920 BMD
Supply Chain Manager Executive and Management 34,080 BMD
Surveyor Executive and Management 19,860 BMD
Technical Director Executive and Management 28,820 BMD
Technical Manager Executive and Management 26,660 BMD
Territory Manager Executive and Management 26,100 BMD
Validation Manager Executive and Management 23,700 BMD
Vice President Executive and Management 34,360 BMD
Zone Manager Executive and Management 29,160 BMD

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