Barbados Executive Salaries up 8 per cent
A survey of Barbados and six other Caribbean countries by International accounting firm PricewaterhouseCoopers (PwC) has found that executive salaries in businesses are up about 8 per cent from a year ago. In the case of middle management, the increases average 7.5 per cent.
“These are just some of our findings, but it is important to know that there are variances in each island,” said Chris Sambrano, PwC partner responsible for Human Resources in Barbados.
Sambrano says the survey contains data on the compensation packages in 67 companies in Barbados, Antigua-Barbuda, Jamaica, St. Lucia, Trinidad and Tobago and St. Kitts-Nevis.
The PwC study covers 18 different sectors, including tourism, banking, manufacturing, insurance, accounting, retail and distribution, utilities and the public sector.
“Through this survey we have been able to compile the pay practices for 68 positions, ranging from junior staff to senior executives,” Sambrano explained.
It is the first time that individual PwC units in the Caribbean have combined to produce one regional survey.
Sambrano describes the document – which is available from PwC in Barbados – as a powerful tool for Human Resource professionals to ensure their companies are remaining competitive in terms of compensation.”
PricewaterhouseCoopers operates in 150 countries and employs over 140,000 people to provide services to the private and public sectors in multiple fields, including taxation, performance improvement, crisis management and human resource development.
PwC maintains a financial services centre at Bishop’s Court Hill, St Michael in Barbados.
March 25th, 2008