The Bahamas dominates Caribbean salary rankings

The Caribbean Society for Human Resource Professionals (CSHRP) has unveiled the Pay Pulse 2024 report in Kingston, Jamaica, revealing The Bahamas as the top-paying country in the Caribbean for 2024. With 97.3 per cent of surveyed roles paying above market value, The Bahamas continues to lead the region in competitive compensation, particularly for executive, managerial, and finance roles.

At a time when Bahamians are grappling with rising inflation and economic pressures, the report provides a silver lining for professionals in high-demand sectors. Roles like CEO, chief financial officer, and general manager consistently rank as the highest paid across the region, solidifying The Bahamas’ reputation as a premier job market.

“The Bahamas’ workforce benefits significantly from its commitment to competitive compensation across key industries,” said Vaughn McDonald, Deputy Board Chairman of CSHRP.

“The Pay Pulse 2024 report is a tool for both employers and employees to benchmark salaries, advocate for pay equity, and make data-informed decisions in a rapidly evolving job market.”

With participation from 119 companies representing 20 countries and 34 industries, the Pay Pulse 2024 report is the most comprehensive analysis of salary trends in the Caribbean. It addresses key issues such as skills shortages, talent retention, and wage transparency, all of which are critical for sustaining the Bahamian economy.

"The Pay Pulse 2024 report represents a monumental step in closing the knowledge gap around salary data in the Caribbean. By capturing regional pay trends, we empower businesses and employees with actionable insights to drive equity and transparency. We are deeply grateful to the companies that contributed to making this report an invaluable resource," McDonald noted.

The Pay Pulse 2024 report is now available for purchase at US$575.