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BVI Newbie » Questions » Comparing US salaries and BVI salaries
Nick Cunha asked 9 years ago
I have a job offer in the BVI for a professional position. It was explained that pay scale is somewhat lower but this is 40% lower.
Can this be right? What is a proper difference to expect?
Thanks for your insight.
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Congratulations on receiving a job offer in the BVI!
The USA Federal Minimum Wage rate for 2015 is $7.25/ hour, although some states have a higher rate.
Our minimum wage in the BVI is $4.00/ hour. That works out to be roughly 45% lower, so your offered salary matches this about right.
Unfortunately, wages are typically lower here than in North America, and the cost of living is more expensive. BUT living and working in the BVI does have it’s benefits- especially when it comes to tax breaks. If you refer to page 32 in Newbie 2015, as employees we pay an 8% payroll tax plus 4% to the social security board. This isn’t bad compared to the 15-35% tax rates in the US.
Plus, as we say here, “you get to live in paradise”!
Basically, if you plan to get 40% less and spend 40% more and still be happy about it, you will do just dandy….