Average Tax Accountant Salary in Grenada for 2024

In this article, we will look at the average Tax Accountant salary for 2024 in Grenada 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 Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does a Tax Accountant Make in Grenada?

A Tax Accountant working in Grenada will typically earn around 49,700 XCD per year, and this can range from the lowest average salary of about 23,260 XCD to the highest average salary of 77,060 XCD.

Average Annual Salary
49,700 XCD
Average Monthly Salary
4,141 XCD

Lowest Annual Salary
23,260 XCD
Lowest Monthly Salary
1,938 XCD

Highest Annual Salary
77,060 XCD
Highest Monthly Salary
6,421 XCD

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

Tax Accountant 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 Tax Accountant Salaries in Grenada

So we've looked at the average salaries a Tax Accountant will earn in Grenada. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Tax Accountant can earn between 23,260 XCD and 77,060 XCD on average in Grenada. 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 Tax Accountant in Grenada is 49,700 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 49,700 XCD, and 50% of the population earn more than 49,700 XCD.

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 Tax Accountant salary in Grenada, 25% of the population are earning less than 31,980 XCD while 75% of the population earn more than 31,980 XCD.

75% of the population earn less than 61,840 XCD, and 25% of the population earn more than 61,840 XCD.

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.

Tax Accountant Salary by Experience Level in Grenada

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 tax accountant 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 Tax Accountant in Grenada that has less than two years of experience can expect to earn somewhere in the region of 27,560 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Tax Accountant salary would increase to 40,140 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Tax Accountant, the average salary would be 51,400 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 62,060 XCD.
  • 15 - 20 Years Experience. A Tax Accountant with 15 to 20 years of experience can earn an average of 65,080 XCD.
  • 20+ Years Experience. For a Tax Accountant with more than 20 years, the expected average salary increases to 72,780 XCD.

Average Salary by Experience Chart

0-2 Years
27,560 XCD
2-5 Years +32%
40,140 XCD
5-10 Years +34%
51,400 XCD
10-15 Years +19%
62,060 XCD
15-20 Years +8%
65,080 XCD
20+ Years +7%
72,780 XCD

Tax Accountant Salary by Education Level in Grenada

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 Tax Accountant in Grenada 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 Tax Accountant in Grenada with a high school education can earn an average salary of 36,800 XCD.

  • Certificate or Diploma. A Tax Accountant in Grenada with a certificate or diploma education can earn an average salary of 40,640 XCD.

  • Bachelor's Degree. A Tax Accountant in Grenada with a bachelor's degree education can earn an average salary of 57,320 XCD.

  • Master's Degree. A Tax Accountant in Grenada with a master's degree education can earn an average salary of 72,780 XCD.

Average Salary by Education Chart

High School
36,800 XCD
Certificate or Diploma +14%
40,640 XCD
Bachelor's Degree +36%
57,320 XCD
Master's Degree +26%
72,780 XCD

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 Grenada is around 31,300 to 94,000 XCD 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.

Tax Accountant 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 Grenada, a male tax accountant will earn an average of 50,240 XCD, while a female tax accountant will earn around 48,820 XCD.

This means that a male tax accountant earns approximately 3% more than a female tax accountant for performing the same job.

Average Salary by Gender Chart in Grenada

Male
50,240 XCD
Female -3%
48,820 XCD

Tax Accountant Average Pay Raise in Grenada

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 Tax Accountant in Grenada is around 8% every 27 months.

The national average pay raise across all professions and industries in Grenada 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 ÷ 27 ) × 12  = 4%

What this means is that a Tax Accountant in Grenada can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Grenada for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Tax Accountant Bonus and Incentive Rates in Grenada

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 Tax Accountant is a low bonus based job, with 11% of employees reporting at least one bonus in the last 12 months.

89% 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 0% to 3%.

Received Bonus
11%
No Bonus
89%

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 Grenada earn approximately 11% more than private sector employees in the same role.

Public Sector
78,500 XCD
Private Sector -11%
70,840 XCD

Salaries for Jobs Similar to a Tax Accountant

In the table below, we have salary information for jobs that are similar to a Tax Accountant in Grenada.

Job Title Category Salary
Account Examiner Accounting and Finance 36,020 XCD
Account Executive Accounting and Finance 64,920 XCD
Accountant Accounting and Finance 49,700 XCD
Accounting Analyst Accounting and Finance 59,940 XCD
Accounting Assistant Accounting and Finance 37,740 XCD
Accounting Associate Accounting and Finance 37,740 XCD
Accounting Clerk Accounting and Finance 31,940 XCD
Accounting Coordinator Accounting and Finance 44,780 XCD
Accounting Head Accounting and Finance 104,500 XCD
Accounting Manager Accounting and Finance 110,340 XCD
Accounting Officer Accounting and Finance 40,240 XCD
Accounting Specialist Accounting and Finance 69,400 XCD
Accounting Supervisor Accounting and Finance 67,900 XCD
Accounting Technician Accounting and Finance 34,380 XCD
Accounting Unit Controller Accounting and Finance 87,760 XCD
Accounts Executive Accounting and Finance 66,480 XCD
Accounts Officer Accounting and Finance 39,420 XCD
Accounts Payable and Receivable Specialist Accounting and Finance 51,080 XCD
Accounts Payable Assistant Accounting and Finance 38,780 XCD
Accounts Payable Associate Accounting and Finance 46,720 XCD
Accounts Payable Clerk Accounting and Finance 40,140 XCD
Accounts Payable Manager Accounting and Finance 102,380 XCD
Accounts Receivable Administrator Accounting and Finance 79,360 XCD
Accounts Receivable Clerk Accounting and Finance 39,160 XCD
Accounts Receivable Financial Analyst Accounting and Finance 70,880 XCD
Accounts Receivable Manager Accounting and Finance 98,140 XCD
Accounts Receivable Team Leader Accounting and Finance 72,540 XCD
Assistant Accountant Accounting and Finance 40,240 XCD
Assistant Accounting Manager Accounting and Finance 92,240 XCD
Assistant Auditor Accounting and Finance 52,380 XCD
Assistant Corporate Controller Accounting and Finance 69,240 XCD
Assistant Finance Manager Accounting and Finance 110,340 XCD
Assistant Financial Controller Accounting and Finance 68,400 XCD
Audit Director Accounting and Finance 117,600 XCD
Audit Supervisor Accounting and Finance 93,340 XCD
Auditing Clerk Accounting and Finance 39,420 XCD
Auditing Manager Accounting and Finance 99,220 XCD
Billing Clerk Accounting and Finance 41,660 XCD
Billing Coordinator Accounting and Finance 47,580 XCD
Billing Specialist Accounting and Finance 54,280 XCD
Billing Supervisor Accounting and Finance 78,620 XCD
Bookkeeper Accounting and Finance 34,160 XCD
Bookkeeping Specialist Accounting and Finance 48,640 XCD
Budget Analyst Accounting and Finance 85,440 XCD
Budget Manager Accounting and Finance 102,240 XCD
Business Support Analyst Accounting and Finance 58,000 XCD
Capital Markets Associate Accounting and Finance 74,940 XCD
Cash Flow Analyst Accounting and Finance 74,620 XCD
Cash Management Manager Accounting and Finance 104,440 XCD
Cash Management Officer Accounting and Finance 61,400 XCD
Cashbook Clerk Accounting and Finance 37,620 XCD
Chartered Accountant Accounting and Finance 67,560 XCD
Chief Accountant Accounting and Finance 72,420 XCD
Collections Clerk Accounting and Finance 32,020 XCD
Collections Representative Accounting and Finance 42,960 XCD
Collections Specialist Accounting and Finance 55,220 XCD
Corporate Controller Accounting and Finance 79,360 XCD
Corporate Treasurer Accounting and Finance 102,020 XCD
Cost Accountant Accounting and Finance 52,460 XCD
Cost Accounting Manager Accounting and Finance 103,440 XCD
Cost Accounting Supervisor Accounting and Finance 80,800 XCD
Cost Analyst Accounting and Finance 82,920 XCD
Credit and Collection Manager Accounting and Finance 99,920 XCD
Credit and Collection Staff Accounting and Finance 40,140 XCD
Credit and Loans Officer Accounting and Finance 38,140 XCD
Credit Controller Accounting and Finance 66,120 XCD
Credit Manager Accounting and Finance 104,620 XCD
Debt Adviser Accounting and Finance 80,760 XCD
Debt Collector Accounting and Finance 40,420 XCD
Debtors Clerk Accounting and Finance 35,000 XCD
Debtors Controller Accounting and Finance 40,240 XCD
Deputy CFO Accounting and Finance 146,200 XCD
Deputy Head of Finance Accounting and Finance 142,300 XCD
Derivative Trader Accounting and Finance 85,460 XCD
Director of Finance Accounting and Finance 152,100 XCD
Economist Accounting and Finance 117,520 XCD
Equity Analyst Accounting and Finance 91,520 XCD
Escrow Assistant Accounting and Finance 45,560 XCD
Executive Accountant Accounting and Finance 58,240 XCD
External Auditor Accounting and Finance 73,760 XCD
Finance Administrator Accounting and Finance 56,460 XCD
Finance Analyst Accounting and Finance 96,720 XCD
Finance Associate Accounting and Finance 42,320 XCD
Finance Director Accounting and Finance 157,600 XCD
Finance Executive Accounting and Finance 112,620 XCD
Finance Licensing Clerk Accounting and Finance 34,280 XCD
Finance Licensing Manager Accounting and Finance 102,380 XCD
Finance Licensing Specialist Accounting and Finance 57,900 XCD
Finance Manager Accounting and Finance 148,300 XCD
Finance Officer Accounting and Finance 50,980 XCD
Finance President Accounting and Finance 154,700 XCD
Finance Relationship Manager Accounting and Finance 120,040 XCD
Finance Release Analyst Accounting and Finance 59,000 XCD
Finance Specialist Accounting and Finance 84,180 XCD
Finance Team Leader Accounting and Finance 112,440 XCD
Financial Accountant Accounting and Finance 52,380 XCD
Financial Actuary Accounting and Finance 73,760 XCD
Financial Administrator Accounting and Finance 80,020 XCD
Financial Advisor Accounting and Finance 90,620 XCD
Financial Analyst Accounting and Finance 88,020 XCD
Financial Applications Specialist Accounting and Finance 66,580 XCD
Financial Assistant Accounting and Finance 42,400 XCD
Financial Associate Accounting and Finance 38,780 XCD
Financial Associate Accounting and Finance 48,160 XCD
Financial Claims Analyst Accounting and Finance 66,840 XCD
Financial Claims Manager Accounting and Finance 88,300 XCD
Financial Claims Supervisor Accounting and Finance 80,540 XCD
Financial Clerk Accounting and Finance 36,720 XCD
Financial Commercial Analyst Accounting and Finance 70,880 XCD
Financial Compliance Analyst Accounting and Finance 83,420 XCD
Financial Consultant Accounting and Finance 68,400 XCD
Financial Controller Accounting and Finance 77,120 XCD
Financial Controller Accounting and Finance 80,840 XCD
Financial Coordinator Accounting and Finance 49,360 XCD
Financial Customer Service Manager Accounting and Finance 91,380 XCD
Financial Dealer and Broker Accounting and Finance 55,220 XCD
Financial Director Accounting and Finance 146,200 XCD
Financial Encoder Accounting and Finance 46,280 XCD
Financial Manager Accounting and Finance 136,200 XCD
Financial Operations Manager Accounting and Finance 128,500 XCD
Financial Policy Analyst Accounting and Finance 74,560 XCD
Financial Project Manager Accounting and Finance 107,580 XCD
Financial Quantitative Analyst Accounting and Finance 86,760 XCD
Financial Reporting Consultant Accounting and Finance 71,020 XCD
Financial Reporting Manager Accounting and Finance 95,620 XCD
Financial Section Head Accounting and Finance 91,960 XCD
Financial Services Manager Accounting and Finance 136,100 XCD
Financial Services Sales Agent Accounting and Finance 51,900 XCD
Fixed Assets Administrator Accounting and Finance 51,800 XCD
Forensic Accountant Accounting and Finance 59,660 XCD
Fraud Detection Supervisor Accounting and Finance 58,720 XCD
Fraud Prevention Manager Accounting and Finance 106,980 XCD
Fund Accountant Accounting and Finance 49,560 XCD
Grants Coordinator Accounting and Finance 35,420 XCD
Group Financial Manager Accounting and Finance 142,300 XCD
Internal Auditor Accounting and Finance 69,540 XCD
Internal Control Adviser Accounting and Finance 75,980 XCD
Internal Control Officer Accounting and Finance 47,120 XCD
International Tax Director Accounting and Finance 123,400 XCD
Inventory Accountant Accounting and Finance 56,140 XCD
Investment Advisor Accounting and Finance 139,100 XCD
Investment Analyst Accounting and Finance 101,900 XCD
Investment Associate Accounting and Finance 80,760 XCD
Investment Broker Accounting and Finance 85,880 XCD
Investment Fund Manager Accounting and Finance 119,560 XCD
Investment Operations Manager Accounting and Finance 111,240 XCD
Investment Underwriter Accounting and Finance 45,580 XCD
Investor Accounting and Finance 61,680 XCD
Investor Relations Manager Accounting and Finance 98,440 XCD
KYC Team Leader Accounting and Finance 93,600 XCD
Loan Processor Accounting and Finance 44,140 XCD
Management Accountant Accounting and Finance 56,140 XCD
Management Economist Accounting and Finance 113,220 XCD
Paymaster Accounting and Finance 41,980 XCD
Payroll Administrator Accounting and Finance 68,580 XCD
Payroll Benefits Coordinator Accounting and Finance 59,000 XCD
Payroll Billing Manager Accounting and Finance 96,220 XCD
Payroll Clerk Accounting and Finance 44,720 XCD
Payroll Manager Accounting and Finance 93,660 XCD
Payroll Officer Accounting and Finance 44,540 XCD
Payroll Specialist Accounting and Finance 53,860 XCD
Payroll Supervisor Accounting and Finance 61,760 XCD
Pensions Administrator Accounting and Finance 50,660 XCD
Personal Financial Advisor Accounting and Finance 73,820 XCD
Pricing Analyst Accounting and Finance 82,720 XCD
Private Equity Analyst Accounting and Finance 95,860 XCD
Project Accountant Accounting and Finance 50,180 XCD
Proposal Development Coordinator Accounting and Finance 41,480 XCD
Receivables Accountant Accounting and Finance 46,840 XCD
Regulatory Accountant Accounting and Finance 54,180 XCD
Retirement Plan Analyst Accounting and Finance 79,360 XCD
Revenue Management Specialist Accounting and Finance 88,580 XCD
Revenue Recognition Analyst Accounting and Finance 93,280 XCD
Risk Management Director Accounting and Finance 124,400 XCD
Risk Management Supervisor Accounting and Finance 102,380 XCD
Staff Accountant Accounting and Finance 47,120 XCD
Tax Administrator Accounting and Finance 58,440 XCD
Tax Advisor Accounting and Finance 78,940 XCD
Tax Analyst Accounting and Finance 79,360 XCD
Tax Associate Accounting and Finance 41,480 XCD
Tax Consultant Accounting and Finance 78,120 XCD
Tax Director Accounting and Finance 115,080 XCD
Tax Examiner Accounting and Finance 53,160 XCD
Tax Manager Accounting and Finance 101,980 XCD
Tax Research Manager Accounting and Finance 102,240 XCD
Teller Accounting and Finance 27,560 XCD
Treasury Accountant Accounting and Finance 53,840 XCD
Treasury Analyst Accounting and Finance 81,960 XCD
Underwriter Accounting and Finance 36,020 XCD
Underwriting Assistant Accounting and Finance 35,560 XCD
Vice President of Finance Accounting and Finance 134,600 XCD

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