Multiplier Honored by Fast Company’s 2024 List of Most Innovative Companies.

Multiplier Logo
Loading Animation Image

Talent Wiki – Barbados

Your quick guide on talent and labor compliance norms in Barbados

Capital

Bridgetown

Currency

Barbados Dollar (BBD)

Languages

English

Payroll Frequency

Monthly

GDP per Capita

$22,406.80

Employer Tax

12.75%

Talent Overview

Barbados is known to be one of the wealthiest and most developed country in the Eastern Caribbean. In recent years, the country has grown its economic development from agriculture to industrialization and service along with tourism.

Major economic hubs:

Bridgetown, Oistins, Holetown, and Speightstown

Skills in demand:

Digital Skills, People Management, Business analyst and Information technology engineer.

Map 35

Local Universities

The top local universities in Barbados are as follows:

96687505 10157641799488208 1629553434401177600 N

Ross University School of Medicine

Ranking

Local: 1

World: 5,845

Uni1 59

The University of the West Indies, Cave Hill Campus

Ranking

Local: 2

World: 6,693

Uni3 43

American University of Barbados

Ranking

Local: 3

World: 10,004

Uni2 51

American University of Integrative Sciences

Ranking

Local: 4

World: 11,319

Salary Data

The table below mentions the average salary data in Barbados

Job Title Average Monthly Salary (BBD) Average Monthly Salary (USD)
Financial Manager 6,490 3,216
Information Technology Manager 5,240 2,597
Business Development Manager 5,150 2,552
Human Resource Manager 5,100 2,527
Business Analyst 4,310 2,136
Financial Analyst 4,240 2,101
Project Manager 3,920 1,943
Talentsource 3

Talent Sourcing Tips

Top Local Job Boards

Jobisland, Jobconnect, Glassdoor, LinkedIn

Number of LinkedIn users

133,600

Top Recruitment Agencies

Favio, Caribbean employment services

Employing in Barbados

In order to hire an individual from Barbados, employers should have information about the employment laws and regulations in the country. This section provides such information.

Employee Contract

Employers must provide their employees with employment contracts in the official language of Barbados- English.

Probation Period

The probation period in Barbados is 30 days.

Public and Provincial Holidays

Date Name Type
1 Jan New Year’s Day Public Holiday
21 Jan Errol Barrow Day Public Holiday
22 Jan Day off for Errol Barrow Day Public Holiday
29 Mar Good Friday Public Holiday
1 Apr Easter Monday Public Holiday
28 Apr National Heroes Day Public Holiday
29 Apr Day off for National Heroes Day Public Holiday
1 May Labor Day / May Day Public Holiday
20 May Whit Monday Public Holiday
1 Aug Emancipation Day Public Holiday
5 Aug Kadooment Day Public Holiday
30 Nov Independence Day Public Holiday
25 Dec Christmas Day Public Holiday
26 Dec Boxing Day Public Holiday

Employee Leaves

Type of Leave Time Period Mandatory
Annual Leave 15 days Yes
Sick Leave No statutory law for sick leave No
Maternity Leave 84 days Yes

Payroll

Payroll 1

Payroll Cycle

The payroll cycle is monthly in Barbados.

Payroll 2

Minimum Wage

The Minimum wage in Barbados varies from BBD200 to BBD340.

Payroll 3

Overtime Pay

The overtime pay is 150% above the basic rate on a weekday. It increases to 200% when overtime falls on public holidays.

Bonus

13th Month Pay:

There is no statutory law for the 13th-month pay.

Employee Benefits

  • Old-age Pension
  • Unemployment Benefit
  • Employment Injury Benefit
  • Survivor’s Benefit

Taxes

Employer Payroll Tax

Funds Contributions
National Insurance 6.75%
Non-Contributory 2.00%
Unemployment 0.75%
Employment Injury 0.75%
Severance 0.50%
Training Levy 0.50%
Health Service Contribution 1.50%

Employee Payroll Tax

Funds Contributions
National Insurance 6.75%
Non-Contributory 2.00%
Unemployment 0.75%
Training Levy 0.50%
Catastrophe Fund 0.10%
Health Service Contribution 1.00%

Employee Income Tax

Annual Taxable Income Tax Rate
0-50,000 BBD 12.5%
Above 50,000 BBD 28.5%

VAT

The standard rate of VAT in Barbados is 17.5%.

Offboarding & Termination

The employment contract can be terminated by any party: employer or employee. However, the notice period is mandatory based on the years of service.

The notice period in Barbados is one week.

The Severance pay in Barbados is as follows;

Years of Service Severance Pay
10 years of service 1-month pay
10 years to 15 years 1 and half month pay
More than 15 years 2 and half months

Visa and Immigration

A foreign individual seeking employment in Barbados has to get a long-term visa to work in the country. The Long term visa is valid for three years, after which the individual has to renew it. The employment contract will be a primary document while applying for the visa.

Visa 7
Footer 24x5 New Img2x

Streamline payroll and compliance for your international workforce

Payroll

Minimum Wage

Overtime Pay

Visa & Immigration