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 100,000 Guyanese dollars (GYD) or USD 477. 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. 

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What is the Average Salary in Guyana?

The average salary in Guyana is 100,000 Guyanese dollars (GYD) or approximately $477. 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. 

Guyana Median Income

The median salary in Guyana is the same as the average salary, 100,000 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 80,000 GYD, equivalent to $382, while high earners make closer to 276,000, about $ 1,318. 

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. 

PositionAverage Monthly Salary (GYD)
Chief Executive Officer505,714
IT Director469,522
Call Center Director452,930
IT Architect387,555
Lead Developer375,172
Head of Product Development365,224
Finance Manager343,328
Sales Director339,300
IT Manager329,052
IC Design Engineer327,771
Fabric Cutter92,631
Clothing Technologist92,227
General Laborer91,671
Packer90,332
Finance Cashier90,200
Medical Records Clerk87,339
Seamstress86,245
Tailor82,436
Porter81,126

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 $287. 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

CountryAverage Monthly SalaryComparison to Average Guyana Salary
Japan379,434 Yen (≈ $2,635 USD)– 420%
United Kingdom3,000 Euros (≈ $3,116 USD)– 520%
Norway50,790 NOK (≈ $4,700 USD)– 840%
Germany4,300 Euros (≈ $4,467 USD)– 800%
Austria3,500 Euros (≈ $3,636 USD)– 620%

Guyana vs. Developing Countries

CountryAverage Monthly SalaryComparison to Average Guyana Salary
Romania4,000 RON (≈ $835 USD)– 60%
Russia73,709 Rubles (≈ $700 USD)– 40%
Albania1,500 Euros (≈ $1,550 USD)– 210%
Kazakhstan342,082 Tenge (≈ $645 USD)– 30%
Ukraine18,000 Hryvnia (≈ $500 USD)0%

Guyana vs. Undeveloped Countries

CountryAverage Monthly SalaryComparison to Average Guyana Salary
Afghanistan30,000 Afghanis (≈ $419 USD)19%
Philippines18,423 PHP (≈ $875 USD)– 76%
Cambodia1,000,027 KHR (≈ $250 USD)100%
Egypt13,244 EGP (≈ $263 USD)92%
Pakistan45,000 PKR (≈ $150 USD)233%

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 329,052 GYD. about $1574, while their American counterparts earn closer to $8500 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.