Average Salary in Trinidad and Tobago

Table of Contents

How much money does an individual earn in Trinidad and Tobago?

A month’s salary in Trinidad and Tobago is around 9,770 TTD. This includes the average salaries of both men and women.

Housing, transport, food, and clothing costs come after. The average salary of an individual in Trinidad and Tobago is likely to increase over the next few years.

Workers in Trinidad and Tobago usually get six weeks of leave. Infantile and maternity benefits are part of the employment package, as well as death and retirement benefits.

Salary increments depend on the job an individual does. More experienced workers generally receive higher salaries than new employees at first, but eventually, their wages will become equal over time if they work for the same company.

There are also a number of other factors that decide how much money you can get paid in Trinidad and Tobago, such as skills, efficiency, the scope of responsibility, etc.

In general, you should expect to be earning around 19,000 TTD monthly after three years in most jobs.

Salary Breakdown in Trinidad and Tobago

Salary Scale

Salary levels in Trinidad and Tobago vary from 2,470 TTD to 43,600 TTD each month. 2,470 TTD base salary is typically earned by people in the manufacturing and construction industry.

This salary is equivalent to approximately USD$26,700 per year.

Salary Median

The median monthly wage is 9,380 TTD, which implies that half of the population (50 percent) earns less than 9,380 TTD and the other half earns more than 9,380 TTD. The median pay is based on the number of hours worked each week.

Percentiles

Only 25% of the population earns less than 5,330 TTD, while 75% of the population earns more than 5,330 TTD every year.

As incomes are distributed unequally, percentiles are often used to show where an income falls in the entire distribution of the population’s incomes. The first percentile is referred to as “the first percentile.” It shows where 1% of the population falls under.

The median or 50th percentile indicates where half the people fall below and half fall above on their income distribution curve.

How much does the median salary vary from the average in terms of compensation?

Salary is usually calculated as an average of all salaries or sometimes as a median which is the number in the exact middle of a set of numbers.

Most people cite their salary as either one or the other and most places use this method for compensation systems also.

It’s important to understand that these two notations are quite different from each other but can be easily related if looking at them on an axis graph because the mean will always be higher than the median when using income data.

In terms of compensation, average salary and median difference in the sense that average (mean) is calculated by adding all salaries together and then dividing it by the number of salaries while median salary, on the other hand, is the exact center value.

If there are two numbers in the middle which can be considered 50% higher than each other, or if there is only one number in between them (such as the 25th percentile), the median will be somewhere between these values.

Comparing Salaries Based on Years of Work Experience

How does a person’s income grow over time in Trinidad and Tobago?

A person’s salary increases with each passing year, but not by the same amount for people in general. It is dependent on the person’s job and how long they have been working in that field.

Trinidad and Tobago workers who have just started their careers, on average, earn around TTD 19,843 per year. People with 3 to 7 years of experience earn around TTD 23,545 on average.

Those on the other end of the spectrum, who have at least 15 years of professional experience, make about TTD 35,275 per year on average.

Professional workers are paid wages based on their expertise and how much they contribute to their company’s success. It is important for Trinidadians to know what field they would like to work in before starting college or university studies.

A person’s income increases substantially as they gain years of experience, so Trinidadians are encouraged to focus on finding jobs they enjoy.

Comparing Salaries Based on Education

How does your education level affect your pay scale?

The answer is, it depends. The major factors that determine the salary are job type, experience level, and education. As you improve your education level you will find better-paying jobs available to you.

In Tobago and Trinidad, primary school teachers, primary and secondary school teachers, and nurses with a Trinidad and Tobago (TTD) credential typically earn between 169,665 TTD to 253,264 TTD annually.

College-level teachers with a Trinidad and Tobago (TTD) credential earn an average of 218,714 TTD per year.

Job opportunities are easier to find when you have a higher education level in Trinidad and Tobago. By earning your degree or certification you will greatly increase your chances of employment.

Wage Comparisons Based on Gender

Trinidad and Tobago men earn an average of 6% more than their female colleagues in the workplace. Further, women who hold the same position as their male colleagues earn an average of 37% less than their male colleagues.

The government is now working to reduce this disparity by increasing the number of women in decision-making roles.

The wage gap between men and women is one of many similar gaps that exist within Trinidad and Tobago’s society. The government is working to decrease all such disparities, regardless of gender or ethnicity.

Trinidad and Tobago has a long way to go before its citizens receive equal treatment regardless of their identity, but it can be sure that the government is doing everything they can to tear down these barriers and create an equal society for all people regardless of their background or identity.

Trinidad and Tobago’s Average Annual Salary Increase Percentage

How much are the yearly pay increases in Trinidad & Tobago?

Employees in Trinidad and Tobago may expect a pay rise of around 4% every 29 months. Around 41.50% of employees in Trinidad and Tobago receive yearly increases in their salaries.

The estimated average increase is 6.84% across the whole economic sector, with key sectors like financial services (7.17%), Mining (6.17%), and telecommunications (5.55%) reporting increases well above the national average.

There are variations between socio-economic classes due to existing wage structures within companies when it comes to paying rise approvals for workers in Trinidad and Tobago.

Annual Increment Rate in Trinidad and Tobago

Construction – 9%
Travel – 6%
Education – 3%
Public Service – 9%
Land Transport – 10%
Electricity – 5%
Water – 3.5%

Companies in booming sectors tend to give out larger and more frequent increases.

There are exceptions, but in general, the condition of every corporation is directly tied to the economic situation of the nation or area.

These figures are subject to frequent change.

Average Salary Increase Rates by Experience Level

On average, workers in Trinidad and Tobago receive salary increases annually, with minority groups receiving the largest annual increase compared to majority ethnicities.

Experience level seems to play an important role in determining salaries for all Trinbagonians.

Those who have less than 10 years of experience show lower salary brackets than those who have 30 or more years of work experience on average per year.

Workers with between 11-20 years’ experience receive slightly higher wages that fall just above average pay for new employees (less than one year at their job).

Entry Level: 2,470 TTD/Month – 2,630 TTD/Month
Intermediate: 3,200 TTD/Month – 4,860 TTD/Month
Experienced: 5,000 TTD/Month – 6,500 TTD/Month
Senior Manager: 10,000 TTD/Month – 12,000 TTD/Month
Executive Director or General Manager: 15,580-18.650TWD/Month

Trinidad & Tobago Bonus and Incentive Rates

How much and how often are bonuses given?

The bonus and incentive rates depend on the type of industry and the level at which it operates.

Trinidad and Tobago has an incentive structure that really works hard for its employees. The country’s main source of income comes from the petroleum sector where employees are paid well.

Some companies also pay their employees with stocks or shares as part of an incentive scheme.

These measures are taken by organizations to retain top-performing staff members so they don’t leave to work for other companies offering better incentives. Most workers usually receive about 15% to 30% of additional benefits on their total salary package each year.

Some organizations pay bonuses according to performance and output, which means that the payout depends on the productivity of employees.

For example, if an employee’s work is particularly profitable for their company they may receive a bonus or incentive payment.

Different Types of Bonuses

Bonuses for Individual Performance

This type of bonus is awarded to each individual on the person’s performance during a given period of time.

For example, an employee may be awarded a bonus at the end of the year for their excellent work over that year.

They are usually given as percentages or fixed amounts, but some companies may award special bonuses that are more personalized to an employee’s accomplishments.

Bonuses for Company Performance

Bonuses based on company performance are a common practice for organizations and companies. The objectives of implementing such a policy might be to motivate employees, show appreciation or even encourage teamwork.

It can be beneficial if it is done right, but the concept could also backfire if not approached carefully.

There are different ways to implement bonuses for company performance, all with varying degrees of risk and success rate.

One such method would be for an employee to receive higher pay based on their contribution towards raising profits or other quantifiable metrics that is related to the work they do at their specific job position.

Bonuses Based on Goals Achieved

This is a common practice at many companies. An example of this is to place goals around sales or earnings for employees to hit, and if they do hit that goal, they get a bonus based on the goal that was achieved.

The reason for this type of system is because it motivates the employees to reach higher than normal production numbers.

This is because not only are they getting paid what their current wage is, but also an additional sum depending on how much the company made off their efforts.

Bonuses for the Holidays/End of the Year

This is a great incentive offered by companies to their employees. The reason for this is so the employees would stay dedicated and productive throughout the year.

This yearly bonus usually comes in around December or January, near the holidays, or the end of the year (tax season).

Companies will often reward their employees with bonuses based on performance review but it varies depending on the company policy and what type of business they are doing. It can be anywhere from 3-10% of annual salary, usually around 6%.

Bonuses can also come at other times throughout the year if there’s an extraordinary circumstance like meeting revenue goals early; these are called “seasonal bonuses” because it happens once or twice a year rather than annually.

Comparing Bonus Rates by Career Field

What makes a job deserving of large incentives and a high salary?

Jobs that were found to be receiving higher incentives include in Trinidad and Tobago are:

Finance
Business administration
Healthcare professionals
Information Technology

Workers in Trinidad and Tobago earn the highest incentives in the financial industry.

Although jobs within these industries also come with high salaries, it is important to note that this is not always the case. A high salary does not always indicate an employee will receive large amounts of incentives.

Positions such as doctors, teachers, and lawyers are considered socially responsible but do not receive the same benefits as people employed within other fields. These factors may be due to public perception or naturally social standing associated with each career choice.

However, no matter how much it person enjoys their job, they still deserve a fair wage for what they accomplish on daily basis.

Trinidad’s minimum wage laws allow workers to obtain both a living wage and continue to collect bonuses/incentives however this is usually discouraged.

Comparison of Bonuses by Seniority Level

Senior-level workers in Trinidad and Tobago are those workers who have been with the same company for over ten years and as such experience a high degree of job security. In many companies, these senior-level workers are the main beneficiaries of bonus packages from their companies that seek to award long-term service.

In companies that pay their senior-level workers bonuses, the most common bonus is a Christmas bonus. Sometimes this bonus is given to all employees and sometimes it is only given to those workers who have worked at least ten years for the same company.

Generally, these bonuses can be anywhere from one month’s salary up to an entire year’s worth of salary.

These Christmas bonuses were traditionally paid in December but many companies now opt to pay them as soon as possible after approval by the company board of directors or management team.

In addition to a Christmas bonus that may be based on seniority level, some senior-level workers also receive mid-year bonuses.

Salary Ranges For Popular Professions

Administration / Reception / Secretarial

Administrative Assistant – 5,230 TTD
Office Manager – 9,080 TTD
Receptionist – 3,890 TTD

Catering / Hospitality

Chef De Partie – 6,750 TTD
Demi Chef De Partie – 7,070 TTD
First Cook – 7,000 TTD
Pastry Chef Assistant – 6,240 TTD

Legal / Law / Justice

Legal Secretary – 5,580 TTD
Lecturer (Law) and Lecturer (Tourism) – 4,340 TTD
Paralegal and Personal Assistant to a Lawyer – 3,740 TTD
Legal Assistant – 4,440 TTD
Lecturer (Tourism) – 5,380 TTD

Mortgage Advisor / Insurance Broker / Financial Advisor

Financial Advisor – 8,140 TTD
Insurance Agent / Mortgage Broker – 7,420 TTD
Office Manager – 9,080 TTD

Healthcare / Pharmaceutical

Dental Hygienist / Dental Technician – 4,500 TTD
Nurse (General) – 8,080 TTD
Nurse (Psychiatric) – 5,040 TTD
Optometrist and Nurse (Hospice Care) – 7,520 TTD

Trinidad & Tobago’s Average Hourly Wage

In Trinidad & Tobago, the average hourly salary (pay per hour) is 56 TTD. This indicates that for every hour worked, the typical citizen in Trinidad and Tobago earns around 56 TTD.

The average income per capita is around 19000 TTD. In addition to the hourly wage, Trinidad and Tobago also offers a basic annual salary as part of its national yearly pay for service jobs.

Salary Comparisons Between the Public and Private Sectors in Trinidad and Tobago

In Trinidad and Tobago, public sector workers earn on average 14% more than their private-sector colleagues across all sectors.

Public sector workers in Trinidad and Tobago also enjoy seven non-working days per year, 15% more holidays than their private sector counterparts.

Despite the above benefits being offered to public sector employees, there is still an estimated deficit of TTD 3,000 in relation to salaries paid to public servants.

In the private sector, the highest earners were found in the manufacturing industry, earning an average salary of TTD 43,000.

Private-sector employers are responsible for providing their staff with different forms of compensation including salary, wages, or hourly pay rates as well as share options or profit-sharing plans that may not necessarily be available to public employees.