Average Salary in Ghana for 2023 (Updated) - The Complete Guide - Ask Salaries (2023)

Minimum: 1,549 GHS Average: 5,139 GHS Maximum: 23,844 GHS

Average salaries in Ghana are paid in the Ghanaian Cedi currency, symbolized as (GHS) or (GH₵, GHS). In this article, we will provide you with a comparison of private sector salaries, veteran salaries, and government employee salaries. It will inform you about the lowest grade salary, average salary earner, and highest salary paid.

Today’s article is going to be very interesting for you. In this article, we will provide you with an in-depth comparison of salaries and bonuses in every city and profession in Ghana. Additionally, we will identify the lowest average, median, and highest average salaries that are paid in various occupations and professions.

We recently conducted an internet survey in which we asked people about their salaries. Based on this survey, we gathered the following information regarding salaries in Ghana:

• The minimum salary in Ghana is 1,549 GHS per month and 18,588 GHS per year.
• The average salary is 5,139 GHS per month and 61,668 GHS per year.
• The highest salary reported is 23,844 GHS per month and 286,128 GHS per year, making it the highest recorded salary.

About the Ghana Currency

Salary Distribution and Differences in Ghana in 2023

In addition to reviewing the average salaries earned monthly or annually in Ghana, another intriguing data point to consider is the distribution of salaries. Below, we present this information with rich details, at your service.

Salary limits in 2023

In Ghana, the average salary falls within the range of 1,549 GHS to 23,844 GHS per month. This range represents the statistical variation in salaries across different professions and industries. The difference between the maximum and minimum values serves as a useful indicator of salary variability in the country. Employers can utilize this information to estimate expected pay rates, while employees can assess their earning potential based on these figures.

Average Salary in 2023

If your salary falls below the average, your objective should be to bring your earnings up to at least match the average salary. This can be accomplished by negotiating a raise with your current employer or by exploring better-paying job opportunities in the job market.

How are minimum and maximum salary earners paid in Ghana in 2023?

• In Ghana, minimum wage earners, often considered as labor, receive half of their payment in cash within 15 days. The remaining amount is paid in cash after 15 days.
• Normal salary earners, who have decent salaries and good job positions, receive 31% of their payment in cash within 15 days. The remaining 69% is paid after 15 days, either as a direct bank deposit or in cash.
• For the highest salary earners in Ghana, individuals with high salaries and additional monthly benefits provided free of cost, the full salary is transferred to their bank accounts after 30 days.

Difference Between Minimum, Median, and Highest Salaries in 2023

Both average and median salaries serve as indicators to gauge whether you are being fairly compensated compared to the overall population.

• If your salary is above the average and median, it means you are earning well in comparison to others.
• If your salary falls below both the mean and median, it suggests that you are not adequately compensated.
• If your salary falls in between, it can be challenging to determine whether you are being fairly compensated, and further research may be necessary.

Remember, if your salary is very low, you can apply for jobs in other places and consider upskilling or improving your qualifications. This could increase your chances of landing a better-paying job and improve your financial situation.

Salary Comparison by Years of Experience

In certain occupations, pay is determined based on experience, offering a salary ranging from 15% to 35% more than that of an inexperienced individual, whether it’s in Ghana or any other country. The level of compensation is directly tied to the individual’s level of experience.

For instance, in the sales field, a person with no experience may earn the base salary, but with 3-5 years of experience, they could receive a 15% increase over the base amount. With 8-10 years of experience, this increase could be 25%, and for those with 15+ years of experience, it could reach up to 33%. Experience, therefore, plays a crucial role in determining salary increments in such occupations.

Because this person will have more experience and will be able to sell their product more effectively than a new person. Additionally, the company may offer them a bonus on top of their regular salary. Therefore, it is advisable to aim for at least 3 years of work experience in the specific field or place where you want to work. This will likely result in a higher salary for you.

Salary Comparison by Education

As you read above, the more experience you have, the higher the salary you can potentially earn. However, in addition to experience, having higher education qualifications can significantly increase your salary. As demonstrated in the chart above, we have shown how much your salary can increase from having a higher school diploma to a Ph.D. degree. Education plays a vital role in enhancing your earning potential and opening doors to better-paying job opportunities.

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We conducted an internet survey in Ghana focusing on education. With the help of this survey, we collected valuable information that we are going to share with you below. This will give you an idea of how much education can impact and increase your salary.

• Employees with a high school education earn salaries comparable to laborers. However, with the inclusion of experience, there is potential for a salary increase of up to 6%.
• Individuals who have obtained a Certificate/Diploma in a profession (completed within 6 months to 3 years) can earn salaries up to 13% higher than high school graduates.
• Similarly, bachelor’s degree holders earn salaries more than 19% higher than Certificate/Diploma holders.
• Professionals with a master’s degree can earn up to 31% more than employees with a bachelor’s degree.
• The salaries of Ph.D. professionals can be up to 24% higher than those with a master’s degree.

Average Hourly Wage in Ghana for Deferent Skills

We have collected some information that reveals the daily salaries of common individuals in Ghana based on their skills. After calculating the data, we have compiled a list of popular occupations below. Feel free to read and explore the findings.

What are the hourly wage rate and minimum hourly rate in Ghana?

The hourly wage rate in Ghana is set at 6.45 GHS, which is also the minimum hourly rate paid to workers. A typical workweek consists of 5 working days, while the remaining 2 days are designated as holidays. To calculate the weekly earnings, you can multiply the hourly rate (6.45 GHS) by the number of hours worked in 5 days, which is 8 hours per day. Therefore, the total weekly working hours are 8 x 5 = 40 hours. By multiplying the hourly rate (6.45 GHS) by the weekly working hours (40 hours), you can determine the weekly pay for a standard workweek.

The formula for an hourly rate

Hourly Rate = Total Weekly Pay / Total Weekly Working Hours

To determine the hourly rate, you need to divide the total weekly pay by the total number of hours worked in a week. This formula helps in calculating the hourly wage for an employee based on their weekly earnings and the number of hours they work during that period.

What do you mean by overtime?

Each task requires a few hours, usually 8 hours. Any additional time spent working after these required hours is called overtime.

How is overtime calculated?

According to an employment contract, for example, if an employee is paid $20 per hour, they will be compensated at an overtime rate of $30 per hour for any additional hours worked beyond the regular working hours. This overtime rate can also be multiplied by the number of overtime hours worked per day.

What is Overtime in Economics, and What is the Role of Overtime Work?

Overtime refers to the additional work hours performed by an employee beyond their scheduled working time. When any employee works more than their scheduled time, it is considered overtime. In such cases, the employee is given extra compensation at a fixed rate of 1.5% per hour for each additional hour worked.

Salary in Ghana by Gender

In a survey conducted in Ghana, we discovered a salary gap between women and men. At the end of this survey, it was evident that men are being paid slightly more than women in the same place and performing the same job. However, this disparity is entirely unjustified, as, in today’s modern era, such differences in pay should not exist.

We recently conducted a survey in Ghana, which revealed that men are earning 286,128 GHS per year, while women in the same job and location are earning 268,960 GHS per year. The survey indicated that in some areas of Ghana, men are earning 6% more than women. This difference is visible only in a few regions.

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One possible reason for this disparity is that men may be putting in overtime hours after their regular duty hours, leading to higher salaries than women who might not have the same opportunity for overtime work.

Average Salary by Gender Chart in Ghana

Average Salary Increase in Ghana

It is a common trend in every profession to have a slightly lower starting salary. This rule also applies in Ghana. Research has shown that the salary of every employee in various professions is typically increased by 5% annually.

Why is the salary increased year after year, and why does this happen?

The typical reason for this is that the salary of a worker in a company starts at a lower level. As mentioned earlier, with more experience, there are higher chances of receiving a higher salary.

As an employee works in a company for one year, they gain valuable experience and put in more effort than before. Additionally, the company acknowledges the employee’s dedication and service by increasing their salary accordingly. This increase is often a result of the employee’s exceptional contributions and commitment to their role.

The formula for calculating salary increment, considering an annual increment rate of 5%, is as follows:

• New Salary = Old Salary + (Old Salary x 0.05)

This formula allows you to determine the new salary after a 5% increase from the old salary. By multiplying the old salary by 0.05 (which represents 5%), you can calculate the increment amount, and adding it to the old salary gives you the updated or new salary.

Annual Salary Increase by Experience

We have presented an annual salary increment chart for experienced Ghanan employees, which includes a list of some popular professions. By examining the chart, you can identify which experienced employees receive the highest pay raises and what percentage of raises are given to those with the most experience.

Annual salary increase by Industry

Below, we have presented an annual salary increment chart for a few Ghanan industries, including a list of some of the most popular ones. By examining this chart, you can determine which industry offers the highest annual salary increase and which industry’s employees receive the highest salaries.

Note that this is an annual chart based on a few surveys and some general industry surveys. It may vary from region to region. For precise and up-to-date additional salary information, you can inquire directly with any industry employee or industry management. They will provide you with accurate information.

What is a bonus, and how many types are there?

A bonus is an additional money given to an employee as a reward at the end of the year, acknowledging their hard work and performance. It serves as a form of recognition for the employee’s efforts. It’s important to note that a bonus is distinct from a commission.

There are several types of bonuses, some of which are mentioned below:

1. Individual Performance Bonus: This general bonus is awarded to individual employees based on their overall performance after completing one year of work. It is one of the most common types of annual bonuses.
2. Profit-Sharing Bonus: In certain industries, employees may receive bonuses based on the organization’s overall profitability. This bonus is often distributed among employees in proportion to their salary or as a predetermined percentage of the company’s profits. However, it is not considered a commission.
3. Company Performance Bonus: Given annually, this bonus allows companies to share profits with their staff members.
4. Sales or Commission Bonus: Employees are given a target or commission per product per month, with a limit. If they surpass the limit, the company rewards them with a bonus.
5. Goal-Based Bonus: This type of bonus is granted to employees who achieve specific objectives, typically tied to monthly or yearly company goals.
6. Referral Bonus: Some companies offer this bonus to employees who refer someone to join the company or generate sales through their referral.
7. Holiday Bonus: Shared among employees for specific occasions, such as the last day of the year or festival holidays.

The presence of various bonus types allows companies to incentivize and reward their employees in different ways, fostering motivation and productivity.

Rates of Bonuses and Perks in Ghana

When considering employment anywhere, it becomes essential to determine whether the company offers bonuses or any additional perks for the work you will be doing, and if so, what the rate or amount of those bonuses is. Bonuses can significantly impact your income and serve as motivation to work harder.

In Ghana, some companies do not provide any kind of bonus to their employees. From our survey, we found that 63% of employees in Ghana have received a bonus from their company at least once in the past year, while the remaining 37% of employees have not received any bonus. Among those who received bonuses last year, the rate of such bonuses ranged from 5% to 8% per annum, which is a relatively small amount.

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Understanding the bonus rates and perks offered by potential employers is crucial in making informed decisions about job opportunities and assessing how they may impact your overall earnings and job satisfaction.

Bonus Rates by Industry

We conducted several surveys on salaries in Ghana, including one survey covering specific industries. Below are the results of this survey presented in the form of a graph. The graph illustrates which Ghanan industry distributed the highest bonuses to their employees within a 12-month period.

Salaries for All Jobs in Ghana

We have written the salary of some jobs in Ghana in the table below. You can get your information by reading it.

Government vs Private Employee’s Salaries

If we compare the salaries of private employees and government employees, we find that Government employees earn 5% more than Private employees. The average salary for Government employees is 286,128 GHS, while for private employees, it is 110,038 GHS.

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Additionally, government employees receive some extra facilities not typically offered to private employees. Higher-grade officers in the government often enjoy benefits such as free accommodation, transport, electricity, and more. On the other hand, such facilities are less common among private employees.

Salary Comparison by City

As mentioned earlier, your salary can vary depending on the region of the country. Similarly, we have collected some information that highlights the high and low salaries in some cities in Ghana, which we have listed below. This difference is often influenced by the higher population in certain areas.

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Last Words for your support

Friends, we hope that you have gained a wealth of knowledge from the information we have collected. We have meticulously compiled this data with great care and hard work. If you find our information intriguing, we encourage you to share this article with your friends and share your opinions in the comments below. We highly value your feedback, so please don’t hesitate to express your thoughts. Thank you very much for your support, and please Like and Follow our Social Accounts!

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