Average Shopping Center Manager Salary in Faroe Islands for 2024

In this article, we will look at the average Shopping Center Manager salary for 2024 in Faroe 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 Danish krone. To keep things simple, we are using the DKK currency code instead of the currency symbol kr.

How Much Does a Shopping Center Manager Make in Faroe Islands?

A Shopping Center Manager working in Faroe Islands will typically earn around 559,000 DKK per year, and this can range from the lowest average salary of about 263,200 DKK to the highest average salary of 879,800 DKK.

Average Annual Salary
559,000 DKK
Average Monthly Salary
46,583 DKK

Lowest Annual Salary
263,200 DKK
Lowest Monthly Salary
21,933 DKK

Highest Annual Salary
879,800 DKK
Highest Monthly Salary
73,316 DKK

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

Shopping Center 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 Shopping Center Manager Salaries in Faroe Islands

So we've looked at the average salaries a Shopping Center Manager will earn in Faroe Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Shopping Center Manager can earn between 263,200 DKK and 879,800 DKK on average in Faroe 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 Shopping Center Manager in Faroe Islands is 592,600 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 592,600 DKK, and 50% of the population earn more than 592,600 DKK.

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 Shopping Center Manager salary in Faroe Islands, 25% of the population are earning less than 382,600 DKK while 75% of the population earn more than 382,600 DKK.

75% of the population earn less than 780,700 DKK, and 25% of the population earn more than 780,700 DKK.

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.

Shopping Center Manager Salary by Experience Level in Faroe 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 shopping center 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 Shopping Center Manager in Faroe Islands that has less than two years of experience can expect to earn somewhere in the region of 301,600 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Shopping Center Manager salary would increase to 417,200 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Shopping Center Manager, the average salary would be 592,200 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 724,300 DKK.
  • 15 - 20 Years Experience. A Shopping Center Manager with 15 to 20 years of experience can earn an average of 762,400 DKK.
  • 20+ Years Experience. For a Shopping Center Manager with more than 20 years, the expected average salary increases to 830,500 DKK.

Average Salary by Experience Chart

0-2 Years
301,600 DKK
2-5 Years +38%
417,200 DKK
5-10 Years +42%
592,200 DKK
10-15 Years +22%
724,300 DKK
15-20 Years +6%
762,400 DKK
20+ Years +9%
830,500 DKK

Shopping Center Manager Salary by Education Level in Faroe 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 Shopping Center Manager in Faroe 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 Shopping Center Manager in Faroe Islands with a high school education can earn an average salary of 372,600 DKK.

  • Certificate or Diploma. A Shopping Center Manager in Faroe Islands with a certificate or diploma education can earn an average salary of 433,800 DKK.

  • Bachelor's Degree. A Shopping Center Manager in Faroe Islands with a bachelor's degree education can earn an average salary of 632,400 DKK.

  • Master's Degree. A Shopping Center Manager in Faroe Islands with a master's degree education can earn an average salary of 830,500 DKK.

Average Salary by Education Chart

High School
372,600 DKK
Certificate or Diploma +17%
433,800 DKK
Bachelor's Degree +45%
632,400 DKK
Master's Degree +31%
830,500 DKK

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 Faroe Islands is around 134,000 to 401,000 DKK 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.

Shopping Center 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 Faroe Islands, a male shopping center manager will earn an average of 596,800 DKK, while a female shopping center manager will earn around 524,300 DKK.

This means that a male shopping center manager earns approximately 14% more than a female shopping center manager for performing the same job.

Average Salary by Gender Chart in Faroe Islands

Male
596,800 DKK
Female -14%
524,300 DKK

Shopping Center Manager Average Pay Raise in Faroe 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 Shopping Center Manager in Faroe Islands is around 8% every 31 months.

The national average pay raise across all professions and industries in Faroe 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 = ( 8 ÷ 31 ) × 12  = 3%

What this means is that a Shopping Center Manager in Faroe Islands can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Faroe Islands for 2024

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

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

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Shopping Center Manager Bonus and Incentive Rates in Faroe 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 Shopping Center 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 Faroe Islands earn approximately 19% more than private sector employees in the same role.

Public Sector
352,000 DKK
Private Sector -19%
297,000 DKK

Salaries for Jobs Similar to a Shopping Center Manager

In the table below, we have salary information for jobs that are similar to a Shopping Center Manager in Faroe Islands.

Job Title Category Salary
Acquisition Associate Real Estate 254,800 DKK
Assistant Leasing Manager Real Estate 325,800 DKK
Assistant Property Manager Real Estate 357,700 DKK
Brokerage Real Estate 257,700 DKK
Brokerage Clerk Real Estate 142,300 DKK
Commercial Leasing Manager Real Estate 518,300 DKK
Commercial Real Estate Manager Real Estate 588,500 DKK
Community Development Manager Real Estate 498,000 DKK
Compliance Specialist Real Estate 251,500 DKK
Development Coordinator Real Estate 240,500 DKK
Director of Real Estate Real Estate 592,200 DKK
Lease Administrator Real Estate 314,500 DKK
Leasing Agent Real Estate 275,500 DKK
Leasing Consultant Real Estate 325,600 DKK
Leasing Manager Real Estate 366,200 DKK
Lettings Assistant Real Estate 128,900 DKK
Portfolio Analyst Real Estate 448,500 DKK
Portfolio Manager Real Estate 592,600 DKK
Property Acquisition Agent Real Estate 231,000 DKK
Property and Claims Specialist Real Estate 307,400 DKK
Property Manager Real Estate 392,300 DKK
Property Operations Manager Real Estate 552,400 DKK
Property Tax Assistant Real Estate 268,900 DKK
Real Estate Administrator Real Estate 275,500 DKK
Real Estate Agent Real Estate 265,000 DKK
Real Estate Analyst Real Estate 357,700 DKK
Real Estate Appraiser Real Estate 282,500 DKK
Real Estate Appraiser Real Estate 283,700 DKK
Real Estate Appraiser Real Estate 290,800 DKK
Real Estate Assistant Real Estate 252,300 DKK
Real Estate Association Manager Real Estate 361,600 DKK
Real Estate Broker Real Estate 268,900 DKK
Real Estate General Manager Real Estate 548,500 DKK
Real Estate Project Director Real Estate 507,300 DKK
Real Estate Project Manager Real Estate 489,500 DKK
Real Estate Sales Agent Real Estate 266,000 DKK
Real Estate Valuer Real Estate 294,300 DKK
Research Analyst Real Estate 238,900 DKK
Residential Advisor Real Estate 327,300 DKK
Residential Property Manager Real Estate 367,200 DKK
Town Planner Real Estate 573,500 DKK

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