Average Tool Technician Salary in Bermuda for 2024

In this article, we will look at the average Tool Technician 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 Tool Technician Make in Bermuda?

A Tool Technician working in Bermuda will typically earn around 6,700 BMD per year, and this can range from the lowest average salary of about 1,960 BMD to the highest average salary of 8,780 BMD.

Average Annual Salary
6,700 BMD
Average Monthly Salary
558 BMD

Lowest Annual Salary
1,960 BMD
Lowest Monthly Salary
163 BMD

Highest Annual Salary
8,780 BMD
Highest Monthly Salary
731 BMD

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

Tool Technician 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 Tool Technician Salaries in Bermuda

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

Salary ranges

We already know that a Tool Technician can earn between 1,960 BMD and 8,780 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 Tool Technician in Bermuda is 6,760 BMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 6,760 BMD, and 50% of the population earn more than 6,760 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 Tool Technician salary in Bermuda, 25% of the population are earning less than 4,400 BMD while 75% of the population earn more than 4,400 BMD.

75% of the population earn less than 6,080 BMD, and 25% of the population earn more than 6,080 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.

Tool Technician 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 tool technician 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 Tool Technician in Bermuda that has less than two years of experience can expect to earn somewhere in the region of 4,740 BMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Tool Technician salary would increase to 2,420 BMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Tool Technician, the average salary would be 5,720 BMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 5,520 BMD.
  • 15 - 20 Years Experience. A Tool Technician with 15 to 20 years of experience can earn an average of 7,620 BMD.
  • 20+ Years Experience. For a Tool Technician with more than 20 years, the expected average salary increases to 6,280 BMD.

Average Salary by Experience Chart

0-2 Years
4,740 BMD
2-5 Years +34%
2,420 BMD
5-10 Years +30%
5,720 BMD
10-15 Years +21%
5,520 BMD
15-20 Years +9%
7,620 BMD
20+ Years +5%
6,280 BMD

Tool Technician 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 Tool Technician 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 Tool Technician in Bermuda with a high school education can earn an average salary of 5,160 BMD.

  • Certificate or Diploma. A Tool Technician in Bermuda with a certificate or diploma education can earn an average salary of 5,520 BMD.

Average Salary by Education Chart

High School
5,160 BMD
Certificate or Diploma +68%
5,520 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.

Tool Technician 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 tool technician will earn an average of 5,160 BMD, while a female tool technician will earn around 6,760 BMD.

This means that a male tool technician earns approximately 24% less than a female tool technician for performing the same job.

Average Salary by Gender Chart in Bermuda

Male
5,160 BMD
Female +24%
6,760 BMD

Tool Technician 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 Tool Technician in Bermuda is around 5% every 29 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 = ( 5 ÷ 29 ) × 12  = 2%

What this means is that a Tool Technician in Bermuda can expect to receive an average pay raise of around 2% 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%

Tool Technician 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 Tool Technician is a low bonus based job, with 9% of employees reporting at least one bonus in the last 12 months.

91% 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 1% to 3%.

Received Bonus
9%
No Bonus
91%

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 Tool Technician

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

Job Title Category Salary
Air Conditioning Technician Facilities / Maintenance / Repair 5,160 BMD
Assembly Supervisor Facilities / Maintenance / Repair 7,080 BMD
Assistant Contract Manager Facilities / Maintenance / Repair 19,160 BMD
Building and Grounds Supervisor Facilities / Maintenance / Repair 13,960 BMD
Building Control Officer Facilities / Maintenance / Repair 13,060 BMD
Building Engineer Facilities / Maintenance / Repair 18,260 BMD
Building Services Engineer Facilities / Maintenance / Repair 16,400 BMD
Building Surveyor Facilities / Maintenance / Repair 12,760 BMD
Calibration Technician Facilities / Maintenance / Repair 6,960 BMD
Carpenter Facilities / Maintenance / Repair 5,960 BMD
Cemetery Manager Facilities / Maintenance / Repair 6,200 BMD
Chief Building Official Facilities / Maintenance / Repair 26,780 BMD
Clinical Facilities Planning Manager Facilities / Maintenance / Repair 28,820 BMD
Construction Laborer Facilities / Maintenance / Repair 4,940 BMD
Contracts Administrator Facilities / Maintenance / Repair 13,560 BMD
Contracts Manager Facilities / Maintenance / Repair 22,420 BMD
Facilities Coordinator Facilities / Maintenance / Repair 13,060 BMD
Facilities Director Facilities / Maintenance / Repair 27,480 BMD
Facilities Engineer Facilities / Maintenance / Repair 18,260 BMD
Facilities Maintenance Manager Facilities / Maintenance / Repair 27,040 BMD
Facilities Maintenance Supervisor Facilities / Maintenance / Repair 17,760 BMD
Facilities Manager Facilities / Maintenance / Repair 25,220 BMD
Field Service Manager Facilities / Maintenance / Repair 22,340 BMD
Field Service Technician Facilities / Maintenance / Repair 4,320 BMD
Fire Alarm System Installer Facilities / Maintenance / Repair 9,020 BMD
Glazier Facilities / Maintenance / Repair 5,720 BMD
HVAC Mechanic Facilities / Maintenance / Repair 5,160 BMD
HVAC Technician Facilities / Maintenance / Repair 5,160 BMD
Laborer Facilities / Maintenance / Repair 6,480 BMD
Maintenance Fitter Facilities / Maintenance / Repair 6,700 BMD
Maintenance Mechanic Facilities / Maintenance / Repair 6,480 BMD
Maintenance Officer Facilities / Maintenance / Repair 6,700 BMD
Maintenance Planner Facilities / Maintenance / Repair 8,780 BMD
Maintenance Supervisor Facilities / Maintenance / Repair 7,820 BMD
Maintenance Worker Facilities / Maintenance / Repair 6,700 BMD
Mechanic Facilities / Maintenance / Repair 3,940 BMD
Plant Engineer Facilities / Maintenance / Repair 17,100 BMD
Property Administration Officer Facilities / Maintenance / Repair 9,460 BMD
Service Engineer Facilities / Maintenance / Repair 15,380 BMD
Service Operations Manager Facilities / Maintenance / Repair 27,020 BMD
Technician Facilities / Maintenance / Repair 4,940 BMD

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