Are you planning on relocating to Bangladesh? Well, you have come to the right place. In this article, I have provided all the information you need about this South Asian country. To begin with, the economy is a developing one but made an incredible GDP growth of 7.3% in 2019. In regards to this, the country is expected to enter the upper-class economy-level by 2041. Most of the growth is a result of the agricultural sector, ready garments exports, and remittances. Other thriving sectors include food processing, steel, pharmaceuticals, telecommunication, natural gas production, and shipbuilding. Besides boosting the economy, these sectors avail numerous job opportunities for everyone, including foreigners.
How much should you expect as a salary in Bangladesh? You will make an average salary of 26,000 BDT ($306.297) per month or 312,000 BDT ($3,675.15) annually. These figures are gross, meaning they include all employee benefits. The take-home pay will, therefore, be lower after deductions are made. Note that 1 USD=84.8909 Bangladeshi Taka (BDT)
What kind of lifestyle can someone lead in Bangladesh? Dhaka and Chittagong are the economic hubs of the country and the best option if you prefer busy city life. Salary and quality of life are higher in the big cities despite the country generally having a low income. Foreign aid has gradually declined over the years due to self-reliance. Consumer products are, however, relatively expensive compared to the purchasing power of the people. Traffic jam is quite common as expected since this is the 8th most populated country in the world. Other than that, Bangladesh has beautiful hills, rivers, and mangrove forests that will amaze you.
Average Salary in Bangladesh
According to the figures I have mentioned above for salary in Bangladesh, it is very clear that they are extremely low. Jobs are available but competition is quite stiff due to the high population. It is common for fluctuations to occur in the labour market resulting from changes in the global economy experiences. Some of the factors affecting the availability of job opportunities in Bangladesh are supply and demand. As technology advances, various job positions become obsolete. On the bright side, the changes create new jobs that never existed. Salaries vary with different job categories as shown below:
- Accountant 224,000 BDT ($2,638.56)
- Accounting Assistant 178,000 BDT ($2,096.71)
- Accounting Manager 465,000 BDT ($5.477.37)
- Bookkeeper 145,000 BDT ($2,708.09)
- Chartered Accountant 283,000 BDT ($3,333.91)
- Corporate Treasurer 420,000 BDT ($4,947.58)
- Financial Analyst 401,000 BDT ($4,723.65)
- Financial Manager 618,000 BDT ($7,279.85)
- Internal Auditor 314,000 BDT ($3,698.97)
- Office Manager 283,000 BDT ($3,333.91)
- Receptionist 116,000 BDT ($1,336.57)
- Secretary 143,000 BDT ($1,684.63)
- Translator 283,000 BDT ($3,333.91)
- Engineer 314,000 BDT ($3,699.03)
- Chief Executive Officer 729,000 BDT ($8,587.87)
- Travel Agent 209,000 BDT ($2,461.86)
- Waiter / Waitress 96,400 BDT ($1,130.81)
- Dentist 746,000 BDT ($8,788.43)
- Laboratory Technician 244,000 BDT ($2,874.50)
- Computer Technician 252,000 BDT ($2,968.72)
- Database Administrator 311,000 BDT ($3,663.78)
- Journalist 372,000 BDT ($4,382.13)
- Biomedical Engineer 279,000 BDT ($3,286.60)
People in the same career field will still earn differently based on one’s level of education, age, gender, years of working experience, employer, and even the location.
Employment Law and Rights
Employees in Bangladesh work for 8 hours a day (48 hours a week). Workdays run from Sunday to Thursday, with Friday being a national weekly holiday. All employee contracts have to be in the local language with clear specifications on compensation, termination, and benefits expectations. Every employee is entitled to sick leave, festival leave, fully-paid maternity leave, weekly holiday, personal leave, and annual leave.
There are also 21 national holidays and every employee is entitled to 11 of them. The employer decides which holidays should be among the 11 but pays the employee for each of them. In case there is an agreement between the employee and employer that work is done on that day, the employee must be paid separately as overtime.
Personal income tax in Bangladesh is on a progressive scale of 10% to 30%, depending on the amount. Corporate tax is deducted at a rate of 25% for listed entities and 35% for the non-listed. To support its largest source of income, the government reduces taxes for readymade garment manufacturers to as little as 14%. Taxation in this country is generally prone to changes due to different federal and local rules. There is no social security tax and property tax on land or real estate.
Non-residents working in the country are taxed at a 30% flat rate on their income. Allowances and salaries of expatriates working on foreign aid projects, as per an agreement between the foreign government and the local government, are exempted from tax.
Highest Paid Salary in Bangladesh
Just like in most countries, the highest paid salary in Bangladesh is found in the medical sector. Any surgeon in the country earns an average salary of $1,140.65 per month or $10,180.99 per annum. The average wage per hour is $4.94, which is way higher than the average for other jobs. Even though all the employees in the Health and Medical sector earn very high salaries, the average for surgeries only is 88% more. So if you are a surgeon by profession, you are about to earn the highest salaries in Bangladesh.
The reason why surgeons top the highest paid professions is because of the critical nature of their job. It generates a lot of income, requires extensive knowledge, a long learning path, has a high perceived value, and exposes one to high risks. All these are the necessities for a high-paying career worldwide. Although surgery pays highly countrywide, there are some slight changes in salary depending on one’s specialization.
An orthopaedic surgeon is the highest-paid surgeon at $17,435.16 per year, followed by chief of surgery, heart transplant, cardiothoracic, neurological, plastic reconstructive, paediatric surgeon, trauma, and oral surgeons. An oral surgeon is the 9th-highest paid surgeon at $12,133.55 per annum. This is still so much money compared to other careers, even being a CEO. Some surgeons get paid higher than others for having more than one specialization.
Salary Breakdown in Bangladesh
Without having any skills, it is very difficult to get any job in Bangladesh. Most companies prefer experienced and highly-qualified candidates. Therefore, only the lowest-paid jobs fall under the entry-level for any freshers seeking employment. And by that, I mean very little money considering salaries are already low in the country. This makes it very difficult for first-time employees since they need to start somewhere yet nobody wants to hire them. They end up accepting cheap labour to gain experience.
The average pay per hour is about $1.767, which is insanely little. Unfortunately, this is what hourly workers get. For monthly employees, their salary ranges between a minimum average of $77.538 and a maximum average of $1,366.94 per month. The median salary in the country is $331/month, meaning 50% of the population earns above this while the other 50% earns below the $331. If your salary lies above the median and average salaries, then you are better off. Other salary indicators are the 25th and 75th percentiles. According to recent reports, only 25% of the top earners make more than $918/month while the bottom 25% earn less than $184/month
Multi-national companies and international organizations tend to pay better salaries, especially to their most senior employees. That being said, it is very difficult to get a good-paying job since the entire country pays poorly. You might need to spend at least $236 per month on basic expenses to try to find a good job whose salary can fund your lifestyle.
Textile Engineer Salary in Bangladesh
A person working as a textile engineer in Bangladesh makes an average salary of $10,008 per annum. This is a fair amount considering there are so many unemployed people ready to work for low wages. The starting salary is between $236 and $295 per month. After years of working in the textile industry, your salary starts rising depending on the quality of your performance. Once you hit 6 or 7 years, the salary increases to between $825 and $943 per month. Academic education is also important as much as technical knowledge.
Due to the availability of cheap labour in the country, the textile sector has grown so much. Bangladesh has joined the leading manufacturers of readymade garments. It is also the leading sector in the country’s economy. 80% of the country’s total export comes from textiles, therefore, skilled personnel is required in plenty. For this reason, textile engineering has become a common career choice for many students in the country.
Just so you know, textile engineering requires a lot of hard work and skill. Most of the textile engineers prefer working for private companies since the salaries there are higher. Private textile industries often import skilled manpower due to the shortage of highly-skilled candidates in the area. The only way to land yourself in such a job is by improving your skills and getting some working experience.