Average Welder Salary in Cayman Islands for 2024

In this article, we will look at the average Welder salary for 2024 in Cayman 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 Cayman Islands dollar. To keep things simple, we are using the KYD currency code instead of the currency symbol $.

How Much Does a Welder Make in Cayman Islands?

A Welder working in Cayman Islands will typically earn around 13,400 KYD per year, and this can range from the lowest average salary of about 5,730 KYD to the highest average salary of 19,100 KYD.

Average Annual Salary
13,400 KYD
Average Monthly Salary
1,116 KYD

Lowest Annual Salary
5,730 KYD
Lowest Monthly Salary
477 KYD

Highest Annual Salary
19,100 KYD
Highest Monthly Salary
1,591 KYD

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

Welder 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 Welder Salaries in Cayman Islands

So we've looked at the average salaries a Welder will earn in Cayman Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Welder can earn between 5,730 KYD and 19,100 KYD on average in Cayman 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 Welder in Cayman Islands is 13,600 KYD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 13,600 KYD, and 50% of the population earn more than 13,600 KYD.

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 Welder salary in Cayman Islands, 25% of the population are earning less than 9,540 KYD while 75% of the population earn more than 9,540 KYD.

75% of the population earn less than 15,700 KYD, and 25% of the population earn more than 15,700 KYD.

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.

Welder Salary by Experience Level in Cayman 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 welder 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 Welder in Cayman Islands that has less than two years of experience can expect to earn somewhere in the region of 5,520 KYD.
  • 2 - 5 Years Experience. With two to five years of experience the average Welder salary would increase to 9,470 KYD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Welder, the average salary would be 13,900 KYD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 15,500 KYD.
  • 15 - 20 Years Experience. A Welder with 15 to 20 years of experience can earn an average of 15,700 KYD.
  • 20+ Years Experience. For a Welder with more than 20 years, the expected average salary increases to 17,900 KYD.

Average Salary by Experience Chart

0-2 Years
5,520 KYD
2-5 Years +38%
9,470 KYD
5-10 Years +42%
13,900 KYD
10-15 Years +22%
15,500 KYD
15-20 Years +6%
15,700 KYD
20+ Years +9%
17,900 KYD

Welder Salary by Education Level in Cayman 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 Welder in Cayman 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 Welder in Cayman Islands with a high school education can earn an average salary of 9,530 KYD.

  • Certificate or Diploma. A Welder in Cayman Islands with a certificate or diploma education can earn an average salary of 12,800 KYD.

  • Bachelor's Degree. A Welder in Cayman Islands with a bachelor's degree education can earn an average salary of 17,100 KYD.

Average Salary by Education Chart

High School
9,530 KYD
Certificate or Diploma +51%
12,800 KYD
Bachelor's Degree +50%
17,100 KYD

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 Cayman Islands is around 16,200 to 48,600 KYD 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.

Welder 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 Cayman Islands, a male welder will earn an average of 13,500 KYD, while a female welder will earn around 12,800 KYD.

This means that a male welder earns approximately 5% more than a female welder for performing the same job.

Average Salary by Gender Chart in Cayman Islands

Male
13,500 KYD
Female -5%
12,800 KYD

Welder Average Pay Raise in Cayman 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 Welder in Cayman Islands is around 6% every 28 months.

The national average pay raise across all professions and industries in Cayman Islands 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 = ( 6 ÷ 28 ) × 12  = 3%

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

Annual Pay Raise by Industry in Cayman Islands for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Welder Bonus and Incentive Rates in Cayman 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 Welder is a low bonus based job, with 14% of employees reporting at least one bonus in the last 12 months.

86% 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 4%.

Received Bonus
14%
No Bonus
86%

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 Cayman Islands earn approximately 17% more than private sector employees in the same role.

Public Sector
43,500 KYD
Private Sector -17%
37,200 KYD

Salaries for Jobs Similar to a Welder

In the table below, we have salary information for jobs that are similar to a Welder in Cayman Islands.

Job Title Category Salary
After Sales Automotive Manager Automotive 39,500 KYD
Alignment Technician Automotive 13,500 KYD
Auto Damage Adjuster Automotive 17,100 KYD
Auto Detailer Automotive 14,200 KYD
Auto Parts Manager Automotive 49,300 KYD
Automotive Assembler Automotive 12,400 KYD
Automotive Assembly Manager Automotive 45,100 KYD
Automotive Assembly Operator Automotive 15,500 KYD
Automotive Body Repairer Automotive 15,500 KYD
Automotive Branch Manager Automotive 59,800 KYD
Automotive Central Planner Automotive 20,000 KYD
Automotive Electrician Automotive 15,700 KYD
Automotive Engineering Technician Automotive 18,200 KYD
Automotive Estimating Manager Automotive 39,600 KYD
Automotive Estimator Automotive 31,400 KYD
Automotive General Manager Automotive 72,400 KYD
Automotive Inventory Officer Automotive 13,900 KYD
Automotive Manager Automotive 65,500 KYD
Automotive Master Mechanic Automotive 20,700 KYD
Automotive Parts Supplier Automotive 22,100 KYD
Automotive Project Engineer Automotive 26,600 KYD
Automotive Project Manager Automotive 50,500 KYD
Automotive Purchase Manager Automotive 51,800 KYD
Automotive Sales Automotive 26,500 KYD
Automotive Service Technician Automotive 12,400 KYD
Automotive Technician Automotive 15,300 KYD
Automotive Test Engineer Automotive 23,600 KYD
Automotive Warranty Administrator Automotive 26,200 KYD
Automotive Warranty Clerk Automotive 15,700 KYD
Car Parts and Accessories Fitter Automotive 13,500 KYD
Car Salesman Automotive 29,100 KYD
Damage Appraiser Automotive 21,400 KYD
Diesel Engine Specialist Automotive 18,200 KYD
Job Card Opener Automotive 13,500 KYD
Lube Technician Automotive 13,200 KYD
Master File Maintenance Automotive 19,200 KYD
Materials Planner Automotive 22,100 KYD
Mechanic Automotive 12,900 KYD
Motor Vehicle Inspector Automotive 23,800 KYD
Motorcycle Mechanic Automotive 15,400 KYD
Service Advisor Automotive 27,300 KYD
Service Manager Automotive 45,700 KYD
Stock Controller Automotive 19,200 KYD
Technical Advisor Automotive 27,000 KYD
Tire Retreader Automotive 13,900 KYD
Used Car Manager Automotive 36,700 KYD
Vehicle Body Maker Automotive 18,000 KYD
Vehicle Examiner Automotive 20,200 KYD
Vehicle Painter Automotive 13,700 KYD
Vehicle Trimmer Automotive 13,500 KYD

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Welder Salary in Cayman Islands for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-welder-salary-in-cayman-islands/.

  • "Average Welder Salary in Cayman Islands for 2024". World Salaries, https://worldsalaries.com/average-welder-salary-in-cayman-islands/. Accessed 28 March, 2024

  • Average Welder Salary in Cayman Islands for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-welder-salary-in-cayman-islands/.