Explore salary structures and compensation details in Kiribati
Market competitive salaries are influenced by several factors. The specific role and its corresponding duties significantly impact salary expectations. Managerial positions or jobs requiring specialized skills will naturally command higher salaries than entry-level roles.
The job title and responsibilities that come with it are a significant factor in determining the salary. For instance, managerial positions or jobs requiring specialized skills will naturally command higher salaries than entry-level roles.
Educational qualifications and relevant work experience also play a crucial role. Someone with an advanced degree and extensive experience will likely expect a higher salary than a recent graduate.
The location of the job can also affect the salary. For example, in Kiribati, working in the capital, Tarawa, might offer a slight premium compared to more remote areas.
If a particular skillset is in high demand and has a limited pool of qualified candidates, employers may need to offer a higher salary to attract and retain talent.
Researching salaries can be challenging due to the lack of readily available salary data. However, global salary surveys conducted by renowned consulting firms like Kroll Towers Watson can provide valuable benchmarks for specific job titles and industries.
International organizations like the World Bank and International Labour Organization (ILO) publish reports on labor markets and wages around the world. These reports offer valuable context on economic landscapes and regional compensation trends.
Job boards and recruitment agencies can also provide insights into advertised salary ranges for similar positions.
Kiribati operates a two-tiered minimum wage system under the Employment and Industrial Relations Code (EIRC) 2015. The minimum wage varies depending on the type of business or project the employee works for.
In Kiribati, there are two main categories of minimum wage:
The EIRC 2015 gives the Minister of Labour the power to consult with employers' and workers' representatives before setting or revising minimum wage rates. There are also provisions for exceptions to the minimum wage through collective bargaining agreements approved by the Commissioner of Labour.
While statutory requirements for employee benefits in Kiribati are minimal, many employers offer a variety of bonuses and allowances to attract and retain talent.
Performance-based bonuses are a common way to incentivize employees. Some companies, particularly in the financial sector, implement performance-based bonus schemes that reward employees for exceeding targets or achieving set goals. Profit-sharing bonuses are less common but exist in some organizations, particularly those with a focus on employee ownership or profit participation.
To help offset the high cost of living, some employers offer allowances. Due to the high cost of housing in urban areas like Tarawa, some employers offer housing allowances to help employees cover rent or mortgage payments. To assist with commuting costs, transportation allowances are offered by some companies, especially those located outside major town centers. Meal allowances may be provided to employees, particularly those required to work long hours or have limited access to affordable meal options.
In addition to bonuses and allowances, some employers provide other benefits to enhance employee well-being. While not mandatory, some employers provide health insurance plans to their employees to cover medical expenses. Educational allowances may be offered to employees pursuing further education or skills development relevant to their roles. Aside from standard paid leave allowances, some employers offer additional benefits like parental leave or compassionate leave.
Understanding payroll cycles in Kiribati involves considering both national statutory requirements and employer-specific practices.
The Labour Act 2003 is the primary legislation governing employment and payroll in Kiribati. This Act outlines employee rights and general payroll procedures. Key points from the Act include:
The Employment Relations Code, established under the Labour Act, provides further details on payroll practices like overtime pay calculations and termination payments. It's crucial to consult the latest version of the Labour Act and the Employment Relations Code for the most accurate and up-to-date information on payroll regulations in Kiribati.
While the legislative framework provides a foundation, employer-specific payroll practices can vary. Here's a general idea of what to expect:
We're here to help you on your global hiring journey.