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Caribbean salary survey

 

In a recent Caribbean salary survey, Barbados has emerged as the top-paying country, with businesses in the region compensating their employees above market value for more than half of the 30 job roles examined. According to the PayPulse 2023 report published by The Caribbean Society for Human Resource Professionals (CSHRP) in Jamaica, Barbados outperforms both Antigua & Barbuda and Jamaica in terms of annual gross salaries, excluding benefits and incentives.

The survey, covering 26 regional industries, found that Barbados pays above market value for 16 out of the 30 surveyed roles, accounting for 53.3%. The roles common to all three countries – Barbados, Antigua & Barbuda, and Jamaica – include Chief Executive Officer (CEO), Accountant, Administrative Assistant, Customer Service Representative, and Human Resources Manager.

Barbados leads the ranking for basic annual salaries in key positions such as CEO (US$75,000), Accountant (US$33,843), and Administrative Assistant (US$15,107). However, it pays below market value for Auditor and Chief Financial Officer (CFO). The report suggests that the variation in pay scales within the Barbados marketplace contributes to this phenomenon.

Despite the high salaries, the survey highlights a concern about the backlog of unfair dismissal cases at the Labour Department and the Employment Rights Tribunal in Barbados, indicating that challenges in labor dispute resolution persist.

The survey, encompassing responses from Barbados, Antigua & Barbuda, Jamaica, St Lucia, and Trinidad and Tobago, emphasizes the complexity of salary structures within industries. The banking, financial services, and insurance sector stand out as a dual contributor to both the highest and lowest paying categories, reflecting variability in compensation within the same industry for different roles.

In conclusion, while Barbados excels in offering high salaries across various job roles, challenges in labor dispute resolution and disparities within industries underscore the need for a comprehensive approach to address issues and maintain fairness in compensation.


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