Guyana’s low-cost labor and skilled, English-speaking workforce make it an excellent outsourcing destination. Employers seeking remote partnerships in the country may wonder, What is the average salary in Guyana? This information will help them make competitive hiring offers.

The average salary in Guyana is 103,244 Guyanese dollars (GYD) or USD 494. However, you must consider how wages are influenced by factors such as education, experience, location, position, and industry. Comparing salaries in the country to wages worldwide provides additional insight.

This article will explore all aspects of salaries in Guyana, preparing you for your hiring journey.

What is the Average Salary in Guyana?

The average salary in Guyana is 103,244 Guyanese dollars (GYD) or approximately $494. Wages in the country are low due to a large informal sector and wealth inequality. Although the government has an upper-middle-income economy, many salaries are unreported in official statistics.

Median Income

The median salary in Guyana is 95,000 GYD. Half the country earns higher wages; the other half earns less.

Salary Range

Salary range spans the lowest to the highest salaries in the country. In Guyana, low earners make approximately 70,000 GYD, equivalent to $335, while high earners make closer to 200,000 GYD, about $957.

Salary Comparisons in Guyana

Average salary provides some insight, but you must consider how wages vary by education, experience, location, industry, and position. The following sections will explore how these factors impact earnings.

Salary by Position

This salary comparison chart reveals how wages vary by position.

Position
Average Monthly Salary (GYD)
Chief Executive Officer
505,714
IT Director
469,522
Call Center Director
452,930
IT Architect
387,555
Lead Developer
375,172
Head of Product Development
365,224
Finance Manager
343,328
Sales Director
339,300
IT Manager
329,052
IC Design Engineer
327,771
Fabric Cutter
92,631
Clothing Technologist
92,227
General Laborer
91,671
Packer
90,332
Finance Cashier
90,200
Medical Records Clerk
87,339
Seamstress
86,245
Tailor
82,436
Porter
81,126

Average Wage in Guyana Based on Education

The population of Guyana has minimal access to education. Many families are so poor that they can’t afford to take their children to school. 

Additionally, the country only requires education up to sixth grade. These students often fail to continue schooling after sixth grade because they need to join the job force (typically qualifying for low-paying jobs) or take care of sick relatives. 

Research reveals that a lack of education significantly contributes to income inequality in the country, as low-income individuals are unable to access the education necessary to qualify for high-paying positions.

Salary Comparison by Experience

Experience typically contributes to higher salaries as experienced workers earn more than entry-level workers, and employees become eligible for raises with tenure in their field. This situation applies in Guyana.

However, due to a large informal work economy, it is challenging for workers to negotiate with employers for higher salaries, and companies often lack accountability in offering raises.

Salary Comparison by Location

Location has a significant impact on salaries in Guyana. Workers in urban areas, such as the capital city of Georgetown, earn more than their rural counterparts due to a higher cost of living and proximity to large companies offering high-paying job opportunities. Families in rural areas also often don’t have access to education, which contributes to income inequality in the country.

How Much is Minimum Wage in Guyana?

The minimum wage in Guyana is 60,147 GYD, about $288. It last increased on July 1, 2022, rising by 36% from its previous value of 44,200 GYD. The last increase before that was in 2017, indicating that the minimum wage in the country does not go up often.

Average Salary in Guyana vs. the Rest of the World

The following charts will compare salaries in Guyana to those in developed, developing, and least developed countries to provide more insight.

Guyana vs. Developed Countries

Country
Average Monthly Salary
Comparison to Average Guyana Salary
Japan
340,000 JPY (approx. $2,300)
− 365%
United Kingdom
£3,000 (approx. $4,100)
− 730%
Norway
50,000 NOK (approx. $4,700)
− 851%
Germany
€4,300 (approx. $4,470)
− 805%
Austria
€3,700 (approx. $4,050)
− 720%

Guyana vs. Developing Countries

Country
Average Monthly Salary
Comparison to Average Guyana Salary
Romania
4,000 RON (approx. $835)
− 69%
Russia
73,700 RUB (approx. $700)
− 42%
Albania
83,330 ALL (approx. $860)
− 74%
Kazakhstan
342,000 KZT (approx. $645)
− 31%
Ukraine
18,000 UAH (approx. $500)
− 1%

Guyana vs. Undeveloped Countries

Country
Average Monthly Salary
Comparison to Average Guyana Salary
Afghanistan
13,200 AFN (approx. $150)
70%
Philippines
15,000 PHP (approx. $265)
46%
Cambodia
1,150,000 KHR (approx. $280)
43%
Egypt
14,317 EGP (approx. $284)
42%
Pakistan
60,000 PKR (approx. $210)
58%

Guyana is a developing country with an upper-middle income economy. However, because of the large informal sector, many wages are largely unreported. Therefore, salaries are likely lower than statistics show. 

Despite internal issues, workers in Guyana may overcome income inequality through outsourcing opportunities. It offers low-cost labor and a largely English-speaking workforce. Its time zone aligns with U.S. Eastern time, making it a convenient location for doing business.

What are the Most Common Outsourced Industries in Guyana?

Employers seeking outsource opportunities in Guyana will benefit most when focusing on the following industries.

IT Services

Guyana’s IT industry is experiencing significant growth due to government initiatives and digital infrastructure expansion. It is rolling out 4G LTE and 5G networks, increasing internet access and speed across the nation. Businesses are increasingly adopting digital transformation to remain competitive. 

An IT manager in Guyana earns about 250,000 GYD. about $1,196, while their American counterparts earn closer to $8,500 per month, leading to significant cost savings.

BPO

The country’s BPO industry is expanding rapidly due to competitive costs and a large workforce of skilled, English-speaking employees. The government actively invests in the sector to create 50,000 jobs over the next few years. Its proximity to North American markets offers nearshoring opportunities. 

With so many positions in the industry, it’s challenging to do a price comparison. However, employers who develop remote partnerships in the country can save considerably.

Agriculture Processing

Guyana’s agricultural processing sector is significant and continues to grow. Although the country relies heavily on its rice and sugar crops, there is a push to diversify into processing fruits and vegetables to produce jams, juices, and dried goods. The industry is seeing technological advancements that improve efficiency and productivity.

Conclusion

The low average salary in Guyana contributes to cost savings, making it an ideal destination for outsourcing. Companies that form remote partnerships in the country can benefit from cost savings and access to exceptional products and services, while helping workers overcome income inequality, leading to positive outcomes for all parties involved.