Average Salary in Sri Lanka 2022

How much does the typical Sri Lankan earn?

The average monthly earning for a Sri Lankan worker is 89,800 LKR. Salaries might vary from 22,700 LKR to 401,000 LKR, depending on the position.

It includes accommodation, transportation, and other perks in the monthly wage. The earnings potential of many professions varies enormously.

For instance, a doctor in Sri Lanka could earn around 241,000 LKR per month while someone working in the construction industry might only make 22,700 LKR.

Those working in the finance and IT sectors usually earn the highest salaries. The average salary for a bank manager is around 401,000 LKR. The cost of living in Sri Lanka is relatively low, especially in developed countries. Expenses such as food, transportation, and rent are relatively affordable.

The average salary in Sri Lanka is enough to cover the basic living costs and leave some money for savings or other expenses.

Salary Structure in Sri Lanka

Salary Scale

A month’s salary in Sri Lanka might vary anywhere from 22,700 LKR to 401,000 LKR. The average salary in Sri Lanka is approximately 86,154 LKR per month. This salary may vary depending on the sector, company, position, and qualifications of an individual.

The highest salaries in Sri Lanka are generally given to those working in the Information Technology (IT) and Banking sectors. Professionals such as doctors, lawyers, and engineers also command high salaries. Managers and executives in large corporations earn relatively high salaries as well.

Median Pay

With a median wage of 91,600 LKR a month, half of the population makes less than this amount, while the other half makes more than this amount.

The lowest salaries in Sri Lanka are generally given to those working in the agriculture and construction sectors. Factory workers, clerks, and administrative assistants also fall into this category.

Percentiles

25% of the population makes less than 51,400 LKR whereas 75% of the population makes above 51,400 LKR. The top 10% of earners make more than 354,800 LKR while the bottom 10% make less than 22,700 LKR.

How do median and average salaries differ?

The median salary and average income are both indicators of someone’s earnings. The median salary is the amount that divides the workers into two equal halves, with one half earning more than this amount, and the other half earning less.

The average income is simply the sum of all incomes divided by the number of people earning them.

Comparison of Sri Lankan Wages Based on Years of Experience

What is the progression of a person’s wage over time?

An individual working in Sri Lanka may have an increase in their salary over time as they gain experience and skills.

Average wage in Europe

For example, an entry-level worker may start out earning minimum wage, but with a few years of experience, they could potentially earn a salary that is several times higher.

But this also depends on the field they are working in. For instance, someone working in the medical field may not see as much of an increase in their salary as someone working in the business or technology sector.

Sri Lankan Salary Comparisons Based on Education

How does your education level affect your salary?

In Sri Lanka, those with tertiary education earn an average of 64,175 LKR per month, while those with no formal education earn an average of 22,817 LKR per month.

The difference in earnings is even more significant when comparing the top and bottom 10% of earners.

Tertiary-educated individuals in the top 10% of earners make an average of 175,833  LKR per month, while those in the bottom 10% only make an average of 5,500 LKR per month.

Ph.D. holders also tend to earn more than those with lower levels of education. The average Ph.D. holder earns an average of 97,867 LKR per month, while the average person with a bachelor’s degree earns around 64,175 LKR.

Comparative Salary Analysis by Gender in Sri Lanka

Male workers in Sri Lanka earn 10% more than their female colleagues on average across all industries.

In the IT sector, men earn 18% more than women. When comparing salaries across sectors, the largest gender pay gap is in the oil and gas sector, where men earn 42% more than women.

The average salary for a worker in Sri Lanka is 3,000 LKR per month. The highest-paid workers are in the oil and gas sector, where they earn an average of 5,500 LKR per month. The lowest-paid workers are in the agriculture sector, where they earn an average of 2,000 LKR per month.

Sri Lanka’s Average Annual Salary Increase Percentage

How much are Sri Lanka’s yearly pay increases? How frequently do workers get an increase in their base salary?

Every 17 months, Sri Lankan workers may expect to see a 9% rise in their wages. This is based on data from the World Bank, which looks at salary growth over time. The percentage of Sri Lankan workers receiving an annual raise has remained relatively stable over the past few years, with few fluctuations.

In recent years, the average salary in Sri Lanka has increased by an average of 9%. However, this number may vary depending on factors such as experience, location, and type of job.

For example, entry-level positions may see a lower salary increase than more experienced workers. Those working in urban areas may also receive higher raises than those in rural areas.

Sri Lanka 2022 Annual Increase Rate by Sector

  • Energy – 5%
  • Transportation – 4%
  • Business and Professional services – 4.5%
  • Information Technology – 6%
  • Travel – 4%
  • Telecommunications – 5%
  • Consumer Goods and Services – 4.5%
  • Apparel Manufacturing – 4%
  • Banking and Insurance – 3.5%
  • Cement and Construction – 3%
  • Food & Beverage – 3.5%
  • Government and Public Sector – 5.5%

Average Compensation Increase Percentage by Experience

Workers in Sri Lanka at the junior level may expect to get an average salary of 644,036 LKR per year. Mid-career professionals make around 1,122,839 LKR annually while employees with extensive experience can earn up to 2,015,588 LKR a year.

Take note that these averages are only rough estimates. Salaries will always differ depending on the company, work ethic, skill set, and many other factors.

It is also important to know that salaries in Sri Lanka generally increase with experience. In fact, junior-level employees may only get around 40% of what more experienced workers earn.

Mid-career professionals can expect to make around 60% more than entry-level staff while those with extensive experience may get twice as much.

Sri Lankan Bonus & Incentive Rates

What are the bonus amounts and frequency?

More than 52% indicated they got some type of monetary bonus in the last year, while 48% stated they hadn’t received any bonuses or incentives.

Bonuses received by employees ranged from 3% to 6% of their yearly salaries. The most common bonus was an annual bonus, which was received by over 58% of respondents. Other types of bonuses included spot bonuses (17%), project-based bonuses (14%), and commission (6%).

When it comes to frequency, the majority of employees said they received their bonuses once a year (58%). Other frequencies included multiple times per year (17%), quarterly (14%), and monthly (6%).

Different Kinds of Bonuses

Bonuses for Personal Performance

An employee who exceeds their work performance may receive a bonus. This type of bonus is reserved for top performers and is given to those who go beyond their daily tasks.

This kind of bonus is good especially when the company is going through tough times and wants to motivate employees to work harder.

Bonuses for Business Performance

This type of bonus is given to employees based on the overall performance of the company. If the company does well, then all employees may receive a percentage of the profits as a bonus.

This is a good way to encourage teamwork and reward all employees for their hard work.

Incentives Based on the Achieved Objectives

Bonuses can also be given out for specific projects that an employee has worked on. For example, if an employee helped to increase sales by 10%, they may receive a bonus.

This is a good way to encourage employees to think creatively and come up with new ideas that can help the company succeed.

Also, this type of bonus shows that the company is willing to invest in its employees and their skills.

Seasonal / Year-End Bonuses

Bonuses may be given out over the holidays or at the end of the year, depending on the company. This is a means to express gratitude for the year’s worth of efforts put in by workers.

It’s also an excellent strategy to keep people motivated to work hard and remain with the organization.

Bonuses for Different Careers Compared

What makes a job worth the high pay and generous bonuses?

There are other professions that are not as well-known but definitely pay more.

Here are some of the highly regarded professions in Sri Lanka:

1. Bankers

Local and foreign banks pay their employees very well. A banker’s average salary is around 1.2 million LKR per annum. They also get many perks and bonuses, which can be up to 5 million LKR or more.

2. Doctors

Medical doctors are among the highest earners in Sri Lanka, with an average salary of Rs 1.8 million per year. They also get a lot of rewards and benefits, which can add up to a total of Rs 4 million per year.

3. Lawyers

Lawyers are another profession that is highly respected and very well-paid in Sri Lanka. They earn an average salary of 1.5 million LKR per year and can get up to 3 million LKR in bonuses and benefits.

4. Engineers

Engineers are also in high demand in Sri Lanka and are among the highest-paid professionals in the country. They earn an average salary of 1.6 million LKR per year, with the potential to earn up to 2.5 million LKR in bonuses and benefits.

5. Business executives

Business executives are some of the most sought-after professionals in Sri Lanka. They earn an average salary of 2 million LKR per year and can receive up to 5 million LKR in bonuses and benefits.

These are just some of the professions that are highly regarded and well-paid in Sri Lanka. If you are looking for a high-paying career, then these are some of the options that you should consider.

Comparison of Sri Lankan Bonuses Based on Seniority

Senior-level workers are regarded as the most experienced and, therefore, the highest-paid employees in Sri Lanka.

They usually possess many years of experience in their field, and their responsibilities are often much greater than those of entry-level or mid-level employees.

In general, senior-level workers earn salaries that are significantly higher than the Sri Lankan average.

Salary Ranges for Popular Positions

Business Planning

  • Business Analyst – 113,000 LKR
  • Business Development Manager – 154,000 LKR
  • Project Manager – 120,000 LKR
  • Business Coordinator – 102,000 LKR
  • Product Manager – 129,000 LKR
  • Marketing Manager – 131,000 LKR

Information Technology (IT)

  • IT Project Manager – 126,000 LKR
  • Software Developer – 108,000 LKR
  • Web Developer – 101,000 LKR
  • Database Administrator – 111,000 LKR
  • Network Engineer – 119,000 LKR

Human Resources (HR)

  • Human Resources Manager- 140,000 LKR
  • Recruitment Specialist- 119,000 LKR
  • Training and Development Specialist- 102,000 LKR
  • Compensation and Benefits Specialist- 112,000 LKR

Finance and Accounting

  • Financial Analyst- 113,000 LKR
  • Accountant – 102,000 LKR
  • Auditor- 120,000 LKR
  • Budget Analyst- 108,000 LKR

Healthcare and Science

  • Doctor- 180,000 LKR
  • Dentist- 153,000 LKR
  • Pharmacist- 144,000 LKR
  • Veterinarian- 126,000 LKR

Comparison of City-Based Salary Information

In Colombo, workers often receive 106,000 LKR per month on average. In Kandy, the average is closer to 95,000 LKR. Outside of these two cities, salaries are generally lower. Ratnapura and Galle offer the lowest average salaries at around 82,000 LKR and 80,000 LKR per month, respectively.

While city living certainly has its advantages, it also comes with a higher cost of living. For example, Colombo’s cost of living is almost 50% higher than that of Ratnapura. As such, workers in Colombo need to earn a higher salary just to maintain their standard of living.

Sri Lanka’s Standard Hourly Rate

In Sri Lanka, the average hourly earnings are 520 LKR. The minimum wage in Sri Lanka is 10,000 LKR per month. A person working in Sri Lanka normally receives around 44,600 LKR monthly. Salaries range from 11,300 LKR (lowest average) to 199,000 LKR (highest average, the actual maximum salary is higher).

It includes housing, transportation, and other perks. This is the average monthly wage in the United States. Depending on the profession, one may expect a wide range of salaries.

The cost of living in Sri Lanka is relatively low when compared to other countries in Asia. Expenses such as accommodation, food, and transportation are relatively affordable when compared to cities such as Singapore or Hong Kong.

Comparison of Wages in the Public and Private Sectors

As a general rule, public sector workers in Sri Lanka earn 8% more than their private-sector colleagues. This is largely due to the difference in job roles and responsibilities, as well as the level of qualifications and experience required.

However, there are some exceptions to this rule. For instance, entry-level positions in the public sector may pay less than similar roles in the private sector. And at the other end of the spectrum, senior public sector workers may earn up to 20% more than their counterparts in the private sector.

Of course, these figures can vary depending on the specific organization and role. But overall, it’s safe to say that public sector workers in Sri Lanka tend to earn slightly more than those in the private sector.

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