Salary survey now available

Businesses seeking up-to-date compensation information now have a valuable resource with the release of the Chamber of Commerce’s 340-page Salary and Benefits Survey.

The survey contains statistical data on 152 benchmark positions covering accounting and finance, management, technical, professional, service and non-profit functions. Separate salary and benefit statistics are also reported for 10 industry categories.

‘The Chamber understands the challenges that face local companies of all sizes when it comes to finding accurate, affordable salary and benefits data. The survey is one of the largest ever conducted to measure private sector salary and benefits practices. If you are wondering about how your pay practices measure up you need to obtain a copy of the survey,’ said Chamber CEO Mr. Wil Pineau.

The Chamber Salary and Benefits Survey was conducted by RSM Cayman Islands and includes many of the Cayman Islands’ largest employers. The survey collected information on compensation and other related benefits on 6,643 residents in the Islands. This represents 19 per cent of the total workforce in the Cayman Islands based on the Economics and Statistics Office’s 2006 Labour Force Survey.

One hundred and thirty firms submitted information that measures salaries, pay administration practices, starting salaries for new graduates, training practices and the breakdown of employee base between Caymanians and expatriates.

Industry sectors contained in the survey include: banking and finance (including insurance), professional services, hospitality, tourism, trade (retail & wholesale), construction, telecommunications, education, non-governmental organizations, utilities, real estate and media.

Copies of the report are available on CD for CI$125 for Chamber members and CI$250 for others.

Printed copies of the report are also available for an additional charge. Call the Chamber office at 949-8090 (ext.123) to reserve your copy.