In a recent report by the Cayman Compass, it has been revealed that the Premier of the Cayman Islands holds a position among the elite group of the world’s highest-paid heads of state.
Reports are that the salary for the position of the Cayman Premier surpasses that of the United Kindom’s Prime Minister and is comparable to the salary of the President of the United States.
Cayman Premier’s staggering salary
At the core of this revelation is the fixed salary given to the Premier of Cayman, which is $234,900 (equivalent to US$282,000).
Notably, this salary is entirely tax-free.
Comparative analysis: Cayman Premier vs. UK Prime Minister
Reports are that the UK Prime Minister receives a salary slightly exceeding US$200,000 before taxes. However, the incumbent, Rishi Sunak, faces an effective tax rate of 22 percent, resulting in a reduced take-home income of approximately $156,000.
