The average salary in Bangladesh for a worker is around 311,700 BDT per year, with salary ranges varying between the minimum average of about 79,260 BDT and a maximum average of 1,391,600 BDT.
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There is a constant change in workforce characteristics in Bangladeshi society which developed a multicultural and growing economy. Another significant aspect of a country’s economic status is the amount of salary on average that citizens are getting. Here in this blog post, we look closely at what that means, and inquiries about people’s income level in Bangladesh. Factors that influence it, also, time trends are included too.
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If you are looking forward to outsourcing your business to Bangladesh you should know the economy and salary structure of Bangladesh.
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In this article, we will discuss the factors affecting the salary of an employee in Bangladesh along with five reasons why Bangladesh is the best destination for outsourcing.
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Table of Contents
What is The Average Salary in Bangladesh?
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The average hourly wage in Bangladesh is 150 BTD (1.37 USD) per hour in February 2024.
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The Average Salary in Bangladesh for a worker is around 26,100 BDT (237.63 USD) per month. Salary variations span from 6,580 BDT (the lowest average) to 116,000 BDT (the highest average, with actual maximum salaries possibly exceeding this figure).
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According to worldsalaries.com, the average yearly salary in Bangladesh for a worker is around 311,700 BDT (2837.87 USD), with salary ranges varying between the minimum average of about 79,260 BDT and a maximum average of 1,391,600 BDT.
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Median Wage
The median salary in Bangladesh is 24,100 BDT (217.42 USD) per month which means that half of the Bangladeshi population earns less than 24,100 BDT, and the remaining half of the population earns more than that.
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Minimum Wage
According to fairlabour.org, The minimum hourly wage in Bangladesh is around 38 BDT (0.35 USD) and the legal minimum monthly wage in Bangladesh is approximately 5290 BDT (48.21 USD) which accumulates to the minimum yearly salary of 63,480BDT (578.46 USD).
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Factors Affecting Salaries in Bangladesh
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1. Education
Educational qualifications play an important role in influencing the salary level in Bangladesh.
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Workers possessing a certificate or diploma typically earn approximately 17% higher salaries compared to individuals with only a high school diploma.
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According to salaryexplorer.com, those holding a Bachelor’s degree command salaries around 24% higher than those with certificates or diplomas.
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Professionals with a Master’s degree generally earn roughly 29% more than individuals with a Bachelor’s degree.
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Finally, those with PhDs typically earn about 23% more than those with a Master’s degree.
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2. Profession
The salaries in Bangladesh vary according to the profession,
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Certain positions or roles command higher salaries due to factors such as job complexity, level of responsibility, and demand for specialized skills.
| Profession | Average Salary (Monthly) |
|---|---|
| Architect | 31,900 BDT |
| Accountant | 18,700 BDT |
| Graphic Designer | 17,200 BDT |
| Teacher | 19,600 BDT |
| IT Manager | 43,700 BDT |
| Dentist | 62,200 BDT |
| Attorney | 51,200 BDT |
| Pilot | 45,500 BDT |
| Journalist | 31,000 BDT |
Source: salaryexplorer.com
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3. Experience
Experience plays a crucial role in determining salary levels in Bangladesh. Typically, individuals with more years of experience command higher salaries due to their accumulated knowledge and skills.
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Employees who possess 2-5 years of experience typically earn approximately 32% more than their colleagues with less experience.
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Professionals who have accumulated 5 or more years of experience tend to earn roughly 36% more than their junior counterparts.
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Furthermore, individuals with 10 or more years of experience typically command a salary approximately 21% higher than those with 5 years of work experience.
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Finally, professionals boasting 15 years or more of experience typically enjoy a salary around 14% higher than those with a decade of experience.
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4. City
The average salary in Bangladesh varies according to different locations, urban areas tend to pay more than rural areas.
| City | Average Salary (Monthly) |
|---|---|
| Dhaka | 29,700 BDT |
| Chittagong | 28,700 BDT |
| Chandpur | 24,000 BDT |
| Jamalpur | 24,600 BDT |
| Rajshahi | 28,400 BDT |
Source: salaryexplorer.com
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Why is Bangladesh a good outsourcing hub
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In recent times, Bangladesh has made its presence felt on the outsourcing map largely in the IT, customer service, back-office operations and garment manufacturing sectors.
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Several factors contribute to making Bangladesh an attractive destination for outsourcing.
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1. Cost-effectiveness
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One of the primary reasons for Bangladesh’s popularity as an outsourcing hub is its cost-effectiveness. The cost of labor in Bangladesh is relatively low compared to many other countries, making it an appealing choice for enterprises seeking cost savings without sacrificing quality standards.
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2. Government Support
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The Bangladeshi government has taken several initiatives to promote outsourcing and attract foreign investment. These initiatives involve offering tax incentives, establishing designated economic zones, and enacting specific policies. to streamline the process of setting up outsourcing operations in the country.
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3. Growing IT Sector
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Bangladesh’s IT sector has been experiencing rapid growth in recent years, driven by government support, investment in education and training, and the availability of skilled IT professionals. This growth has positioned Bangladesh as a competitive player in the global IT outsourcing market.
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4. Ample Labor Supply
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Bangladesh has lots of people who are ready to work. Many of them are young and well-educated. This means businesses can find skilled workers easily in different industries.
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5. Quality of Service
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Bangladesh’s quality of service stands out for its focus on being excellent, having well-trained workers, putting customers first, using technology, always getting better, following rules, having expertise in specific industries, and aiming to be competitive. As businesses keep putting quality first, Bangladesh is set to become even more known for providing great services, both at home and abroad.
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Top 5 Industries that Commonly Outsource to Bangladesh
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Here’s a list of leading businesses that commonly outsource their businesses to Bangladesh.
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1. Garment Manufacturing
The garment industry in Bangladesh is a big deal globally, bringing in a lot of money through exports. Because labor costs are low and there are plenty of skilled workers, Bangladesh attracts contracts from big international clothing brands and retailers. Here’s why they like working with Bangladesh.
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Cost-effective: Labor costs are lower here compared to many other places, saving companies money.
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Efficient: Bangladesh’s garment manufacturing setup is well-organized, making it easy to get orders done on time.
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Skilled: The workers here know their stuff when it comes to making clothes, from sewing and cutting to checking quality.
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Flexible: Bangladesh can handle big orders, so it’s great for companies that need to make a lot of clothes.
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2. Business Process Outsourcing (BPO)
BPO started in 2009 in Bangladesh and has grown consistently, in Bangladesh, BPO covers customer support, back-office work, and data entry. Outsourcing to Bangladesh has its perks:
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Cost efficiency: Companies cut costs by outsourcing tasks to Bangladesh.
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Language Proficiency: Workers in Bangladesh are good at English making communication easier and smoother with clients.
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Operational Effectiveness: Bangladesh’s BPO sector works efficiently and provides reliable service.
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Flexibility: Companies can adjust outsourcing easily.
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3. Information Technology (IT) Services
Bangladesh’s IT sector has seen rapid growth recently, offering services like software development, web development, and IT support. Outsourcing IT projects to Bangladesh comes with several advantages including:
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Skilled workforce: Bangladesh boasts numerous skilled IT professionals proficient in programming languages and software development frameworks.
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Cost-effectiveness: Companies get affordable IT solutions here without compromising quality.
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Innovation: Bangladesh’s IT firms are known for their innovative solutions and advanced technology services.
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Reliability: With an emphasis on quality and customer contentment, the IT industry in Bangladesh delivers consistent and effective service.
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Scalability: Whether it’s for startups or big companies, Bangladesh’s IT firms can handle projects of any size and complexity.
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Compliance: Bangladesh’s BPO industry follows standards to keep data safe and meet quality requirements for clients.
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4. E-commerce and Digital Marketing
The e-commerce and digital marketing industry in Bangladesh is growing quickly because more people are using the internet and getting better at using digital tools. Hiring companies to do tasks in this area in Bangladesh has lots of benefits:
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Proficiency in digital skills: People in Bangladesh are good at lots of digital marketing stuff like making websites, doing SEO, using social media for marketing, and creating content.
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Cost-effectiveness: Companies can get digital marketing help in Bangladesh that’s affordable and fits their business goals and who they want to reach.
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Market insights: Professionals in Bangladesh know a lot about how local people shop online, what’s popular, and what people like. This helps companies make better marketing plans.
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Creative talent: Bangladesh has lots of creative people who can make cool stuff like catchy ads, graphics, and videos for digital marketing campaigns.
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Multi-channel presence: Hiring Bangladesh for digital marketing means companies can be seen all over the internet, on different websites and on social media. This makes more people know about them and buy their stuff.
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5. Pharmaceutical Research and Development (R&D)
Bangladesh’s pharmaceutical industry is well-known for its skills in making generic drugs and doing research. Getting pharmaceutical research and development (R&D) done in Bangladesh has lots of benefits:
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Cost-effectiveness: Companies spend less on research and development in Bangladesh compared to richer countries.
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Scientific expertise: Bangladesh has smart scientists, researchers, and pharmaceutical experts who can do top-notch research.
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Regulatory compliance: Bangladesh’s pharmaceutical industry sticks to international rules, making sure R&D projects are safe and high-quality.
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Access to emerging markets: Companies that do R&D in Bangladesh can learn about new markets and how to make products for them.
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Collaboration opportunities: Bangladesh lets companies team up with local research centers and universities, which helps make new ideas and improve the pharmaceutical industry.
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Fortunately, Time Champ can help grow your business in a totally new country like Bangladesh. With Time Champ’s Employee Monitoring and Productivity tracking software, you can upgrade the monitoring game of your business to the next level and boost your employee productivity.
What is Time Champ?
Time Champ is an Employee Monitoring and Productivity tracking software that can track all the activities of both remote and hybrid working employees and generates graph sheets timely based on your employee performance.
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Key Features of Time Champ
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1. Employee Monitoring
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With Time Champ’s Employee Monitoring feature, you can monitor all the activities of your employees, all the websites and apps visited by your employees and how long they stayed on each app.
Find out the productive, non-productive, and idle hours of your employees and take the necessary actions to boost their productivity efficiently.
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2. Employee Productivity
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Using The Employee Productivity feature businesses can set labels as productive, non-productive, and neutral based on their company protocols. Time Champ will Generate Productivity metrics based on the labels provided by the business. This helps organizations closely monitor each and every activity of their employees.
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3. Task Management
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With Time Champ’s Task Management Feature, one can assign tasks and track how long they took to complete a specific task or how many tasks they have completed in a day. This will give them an idea of how productive they are and how long it will take to reach their goals and organizational goals.
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4. project Management
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With the help of Time Champ’s Project Management feature, you can assign projects to your teams and monitor their progress and how many days are left to complete a specific project.
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Managers can allocate resources for their employees without any errors through the project management feature.
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Conclusion
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In summary, what we have here is a clear indication not only of the general state of the country’s economy but also of its important place in the world. Though wages in Bangladesh are lower compared to some other countries, many businesses tend to outsource their work there because they can get the job done for a cheaper cost but ensure good quality. This reveals that Bangladesh displays strong competent manpower and it is gaining more relevance in the global market for outsourcing. As outsourcing grows in Bangladesh, the country should then concentrate on skill development, infrastructure development, a business environment that is encouraging to keep this progress going and an improved life for its people.
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People also Look For:
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Average Salary in India: Factors and Comparision
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Average Salary in Pakistan and Outsourcing Trends
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Business Process Outsourcing (BPO) Services: Different Types
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The average salary in Bangladesh for a worker is around 311,700 BDT per year, with salary ranges varying between the minimum average of about 79,260 BDT and a maximum average of 1,391,600 BDT.
Bangladesh is becoming a popular outsourcing destination due to its cost-effective labour pool, skilled workforce, and favourable business environment. Companies worldwide outsource tasks to Bangladesh to reduce operational costs while maintaining quality standards.
Key outsourcing trends in Bangladesh include the expansion of IT services, garment manufacturing outsourcing, growth in business process outsourcing (BPO), pharmaceutical research and development outsourcing, and rising demand for e-commerce and digital marketing outsourcing.
Outsourcing to Bangladesh presents numerous advantages, including cost-effectiveness, a proficient workforce, English language proficiency, adherence to global quality standards, and capacity for handling large-scale projects. Moreover, Bangladesh offers access to emerging markets and encourages collaboration with local institutions, making it a compelling outsourcing destination.
Outsourcing contributes significantly to Bangladesh’s economy by creating job opportunities, driving economic growth, and increasing foreign exchange earnings. It enhances the country’s competitiveness in the global market and fosters innovation and skill development.
Challenges associated with outsourcing in Bangladesh include infrastructure limitations, skill gaps in certain industries, regulatory hurdles, and competition from other outsourcing destinations. However, the government and private sector initiatives aim to address these challenges and further boost the outsourcing sector’s growth.
Businesses can guarantee successful outsourcing in Bangladesh by conducting comprehensive research on service providers, establishing transparent communication channels, defining project expectations and deliverables, closely monitoring progress, and nurturing long-term partnerships founded on mutual trust and collaboration.
The average salary in Bangladesh influences outsourcing decisions by contributing to the overall cost-effectiveness of outsourcing projects. Companies consider the competitive labour costs in Bangladesh when evaluating the financial feasibility of outsourcing tasks. Additionally, the availability of skilled professionals at relatively lower salary levels compared to other countries enhances Bangladesh’s attractiveness as an outsourcing destination.