Underwriters top the high earners league
Reinsurance underwriters are now earning almost double the salary of lawyers, while the number of international business workers is outstripping civil servants by more than 500, according to the latest statistics released by Government's Employment Briefs report.
The underwriters top the league table, based on 2007 figures, for high-earning occupations in the administrative and managerial sector, with annual earnings of $314,310. Finance general managers ($306,875) and re/insurance brokers ($263,750) come in second and third respectively.
Medical pathologists lead the way in the professional and technical stakes at an annual salary of $292,500, followed by actuaries ($207,367) and lawyers ($160,031) to complete the top three. Judges were back in fourth place with $125,142, while quantity surveyors ($103,500), civil engineers ($102,273) and dentists ($102,273) also merited a place in the first 10.
The report showed jobs held in international business have risen from 3,781 in 2003 to 4,689 last year, compared to those in public administration of 3,982 five years ago and 4,113 in 2007. The total amount of filled jobs similarly increased steadily between 2003 and 2007 from 37,686 to 39,851.
The change in the number of jobs occupied from 2003 to 2007 swung dramatically to professional technical and related fields with 986, administrative and managerial (788). Production, transport and related (411) and sales and service, which dropped 142 and 88 jobs respectively, suffered the reverse effect. Broken down into categories, international business activity picked up the most jobs filled at 908, with construction on 585 the next occupation. Business services came in at 431.
On the flipside, retail trade and repair services lost out to the tune of 355 jobs, as did transport and communications with a 105 loss.
There was also disparity between male and female earnings, with men raking in $300,000 as finance general managers and women $114,000, and $140,000 as general administration general managers versus $88,286. Male personnel managers drew in $129,000 compared to $103,000 for females.
It was a different story for the number of vacancies available, which fell by 136 in 2007, reducing the total vacant posts to 1,876. But there were still big gaps left to be filled in the areas of public administration (394 vacancies), international business (198) and business services (172).
The most significant annual change was registered by the hotel sector with 82 fewer vacancies, decreasing from 205 in 2006 to 123 last year.
Just within the professional, technical and related occupation group, the amount of vacant positions was higher for qualified accountants (56), barristers (29) and junior accountants (27).
In terms of Bermudians employed in the hospitality industry, there was steep downward trend developing, with 1,452 jobs going between 1985 and 2007.
Other sectors showed that Bermudians worked mainly as bartenders (560), masons (252), carpenters (222), semi-skilled labourers (513) and labourers (417). Non-Bermudians were, meanwhile, employed as cooks (560), waiters (659) and masons (516).