There are more Caymanians in middle income jobs than expatriates, while work permit holders dominate the lower income bracket.
That is a new finding of the Tower Omnibus Survey, the biggest consumer research survey yet conducted in the Cayman Islands, which has already revealed a substantial disparity in wages between men and women.
The survey collected information on income in six detailed categories but has broadly defined three key ranges as being ‘low income’ (less than 2,000 per month), ‘middle income’ ($2,001 to $4,500 per month) and ‘high income’ being earnings over $4,501 per month.
Tower Marketing, the organisers of the 1,000-sample survey, revealed this week that Caymanians dominate the middle income brackets, said a press release from the company.
About 40 per cent of total respondents earned $2,001-$4,500 a month, of whom 67 per cent were Caymanians and only 33 per cent were expat.
There was less difference between the two groups in the higher end of the middle income bracket, with Caymanians and expats comprising 53 per cent and 47 per cent respectively in the $3,001-$4,500 a month income range.
Of the roughly five per cent of the sample earning incomes in the higher income range defined as being above $4,501, 57 per cent were Caymanian and 43 per cent were expat.
‘The post-Ivan construction and development boom seems to have paid off, as respondents working in these sectors represented 37 per cent of the total sample who were in the high income bracket,’ Carolyn Lawe Smith of Tower Marketing said in the release.
Of the roughly 20 per cent of residents in what the Omnibus Survey defines as the ‘very low income bracket’ – those with monthly earnings of less than $1,500 – the survey found that expats made up the vast majority (74 per cent), while Caymanians comprised only 26 per cent.
‘Those sectors dominating the very low-income bracket, according to the survey, included the construction and the hospitality industries and domestics. This includes household helpers, nannies and gardeners among others,’ said Ms Smith.
In addition to raw data about salaries in general, the Tower Omnibus Survey can also provide detailed insights into the income ranges by specific occupation, district, media habits and a host of other factors.
Tower said it planned to conduct a second similar survey in about five months’ time and encouraged companies wishing to purchase their own private questions for the second survey to book early.
Anyone interested in a confidential copy of the Tower Omnibus Survey results should contact Simon Fenn or Carolyn Smith at Tower Marketing 946-6000 or via email at [email protected]. Both standard and customized reports are available. The survey will be conducted every six months.