Guyana Employee Compensation Regulations: A Comprehensive Guide for International Employers

Minimum Wage Requirements

Under the Labour (National Minimum Wage) Order 2022, Guyana mandates a national minimum wage of GYD 347 per hour, GYD 2,776 per day, GYD 13,880 per week, or GYD 60,147 per month, depending on the pay cycle. Certain sectors may establish higher industry-specific minimum wages, but employers must never pay below the national standard. For example, companies in the hospitality sector often implement slightly higher rates to attract quality staff in competitive markets.

Payroll Frequency and Structure

Employers in Guyana typically process payroll on a weekly, bi-weekly, or monthly basis. Unlike many Latin American countries, Guyana does not require a 13th-month salary payment. International companies should note that establishing proper payroll cycles requires careful planning to align with local banking practices and employee expectations.

Payroll Documentation Requirements

Guyanese law mandates that employers provide detailed payslips to employees. These documents must clearly show gross earnings (including base salary, shift differentials, statutory allowances, overtime, commissions, and bonuses) alongside deductions for National Insurance Scheme (NIS) contributions and Pay-As-You-Earn (PAYE) income tax.

Payroll Management Options

Companies expanding into Guyana face several payroll administration choices. Establishing a local subsidiary requires significant investment in compliance expertise and administrative infrastructure. Alternatively, partnering with an established employer of record like SailGlobal can streamline operations while ensuring full regulatory compliance.

Common Compliance Risks and Penalties

Employers operating in Guyana should be aware of several critical compliance areas:

Minimum wage violations carry fines up to GYD 100,000 and potential imprisonment
Inadequate record-keeping may result in daily penalties of GYD 625
Misclassification of employees can lead to severe legal consequences
Child labor violations incur fines up to GYD 15,000 for repeat offenses
Tax miscalculations may trigger penalties up to GYD 1 million plus multiple tax liabilities
Workplace safety violations carry both financial and criminal consequences

Payment Methods and Bonus Structures

Guyana permits various payment methods including bank transfers, cash, or checks, though legislation prohibits non-monetary compensation. Bonus schemes remain discretionary but must be clearly outlined in employment contracts. Performance-based incentives are increasingly common in sectors like energy and technology, typically taxed at the standard 20% income tax rate.

Industry Salary Benchmarks

Industry	National Sales Director	Sales Manager	Sales Representative
Energy Sector	5.5-7.5 million GYD	3.75-5 million GYD	2.5-3.75 million GYD
Automotive Industry	4.55-6.3 million GYD	3.25-4.55 million GYD	2.275-3.25 million GYD
Medical Devices	4.875-6.625 million GYD	3.425-4.875 million GYD	2.365-3.425 million GYD
SaaS Companies	5.725-7.175 million GYD	4.275-5.725 million GYD	2.925-4.275 million GYD

These figures represent market averages and may vary based on company size and candidate experience.

Guyana Compensation Guide 2024: Minimum Wage, Payroll & Compliance