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About JIFS

Is your Institution on track with the Sector's Compensation Practices?



The Jamaica Institute of Financial Services (JIFS) has completed the fourth Compensation and Employee Benefits Survey specifically for the financial services sector. Purchase the report today to help recruit, reward and retain your most valuable asset—your employees.

Compensation Survey Background and Purpose

In keeping with our mission statement and in support of our mandate to provide research informing policies and practices within the financial services sector, the first survey commenced in 2012 and replicated in 2015, once again in 2018, and has now successfully completed the 2021 installation.

The installments have accumulated a broad array of compensation and benefits data and information, suitable for reference, trend analysis, strategic planning, and rationalization of the financial services sector. The survey offers a wealth of information on the compensation policies within the financial services sector for policymakers through to employees. 

The survey covers base salary and other benefits across a wide range of positions that were identified by the participating institutions, ranging from customer service/greeters to top-level management.

The 2021 Survey

The 2021 survey was conducted amongst 13 institutions, covering 81 positions in the following segments: Group Operations, Banking and Finance, Insurance, Credit Union, and Call Centres by the labour market specialist – Benthan Hussey and HR Research Analyst Francois Hussey using the social survey method.

Institutions represented in the survey are as follows:

  1. Bank of Jamaica (BOJ)
  2. Bank of Nova Scotia Jamaica Limited (Scotia)
  3. British Caribbean Insurance Company (BCIC)
  4. COK Sodality CCU Limited
  5. First Global Bank Limited (FGB)
  6. Guardian Life Limited
  7. JMMB Group Limited
  8. JN Bank
  9. Jamaica Co-operative Credit Union League (JCCUL)
  10. Mayberry Investments Limited
  11. National Commercial Bank Jamaica Limited (NCB)
  12. Sagicor Group Limited
  13. VM Group

Click here to preview the first 5 pages of  the report

Order Today!

The JIFS Compensation & Benefits Survey is available in hard copy format only.

There are 2 methods of Payment:

  • Payment can be made via direct deposit to our account:

                      Jamaica Institute of Financial Services                       

                      JMD Checking Account No.: 241659356

                      National Commercial Bank

                      1-7 Knutsford Boulevard

                       Kingston 5

                       Swift Code: JNCBJMKX

  • Payment can also be made online via credit/debit card by clicking HERE. You will be redirected to our secure online payment platform.

If payment will be made via deposit to our bank account, please send confirmation once the transaction is successful.

Please allow 1 business day from the time your payment for the document to be prepared. We ask that you arrange for collection of the document at our office once it is ready.  


For more information, contact us at:

Jamaica Institute of Financial Services Office

VM Building, 53 Knutsford Blvd

876-754-5051- 2 | info@jifsjm.org