Average Algorithm Developer Salary in Nicaragua for 2024

In this article, we will look at the average Algorithm Developer salary for 2024 in Nicaragua and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Nicaraguan córdoba. To keep things simple, we are using the NIO currency code instead of the currency symbol C$.

How Much Does an Algorithm Developer Make in Nicaragua?

An Algorithm Developer working in Nicaragua will typically earn around 294,700 NIO per year, and this can range from the lowest average salary of about 142,300 NIO to the highest average salary of 457,300 NIO.

Average Annual Salary
294,700 NIO
Average Monthly Salary
24,558 NIO

Lowest Annual Salary
142,300 NIO
Lowest Monthly Salary
11,858 NIO

Highest Annual Salary
457,300 NIO
Highest Monthly Salary
38,108 NIO

These are average salaries for an Algorithm Developer in Nicaragua and include benefits such as housing and transport. It's also possible for an Algorithm Developer to earn more or less than the average salaries shown above.

Algorithm Developer salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Algorithm Developer Salaries in Nicaragua

So we've looked at the average salaries an Algorithm Developer will earn in Nicaragua. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Algorithm Developer can earn between 142,300 NIO and 457,300 NIO on average in Nicaragua. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Algorithm Developer in Nicaragua is 297,000 NIO. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 297,000 NIO, and 50% of the population earn more than 297,000 NIO.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Algorithm Developer salary in Nicaragua, 25% of the population are earning less than 197,600 NIO while 75% of the population earn more than 197,600 NIO.

75% of the population earn less than 384,500 NIO, and 25% of the population earn more than 384,500 NIO.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Algorithm Developer Salary by Experience Level in Nicaragua

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average algorithm developer salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Algorithm Developer in Nicaragua that has less than two years of experience can expect to earn somewhere in the region of 172,200 NIO.
  • 2 - 5 Years Experience. With two to five years of experience the average Algorithm Developer salary would increase to 217,900 NIO.
  • 5 - 10 Years Experience. From five to ten years of experience as an Algorithm Developer, the average salary would be 301,600 NIO.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 375,200 NIO.
  • 15 - 20 Years Experience. An Algorithm Developer with 15 to 20 years of experience can earn an average of 399,900 NIO.
  • 20+ Years Experience. For an Algorithm Developer with more than 20 years, the expected average salary increases to 428,400 NIO.

Average Salary by Experience Chart

0-2 Years
172,200 NIO
2-5 Years +29%
217,900 NIO
5-10 Years +38%
301,600 NIO
10-15 Years +24%
375,200 NIO
15-20 Years +7%
399,900 NIO
20+ Years +7%
428,400 NIO

Algorithm Developer Salary by Education Level in Nicaragua

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Algorithm Developer in Nicaragua based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Algorithm Developer in Nicaragua with a bachelor's degree education can earn an average salary of 200,000 NIO.

  • Master's Degree. An Algorithm Developer in Nicaragua with a master's degree education can earn an average salary of 273,000 NIO.

  • PhD. An Algorithm Developer in Nicaragua with a phd education can earn an average salary of 450,300 NIO.

Average Salary by Education Chart

Bachelor's Degree
200,000 NIO
Master's Degree +38%
273,000 NIO
PhD +64%
450,300 NIO

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Nicaragua is around 94,700 to 284,000 NIO and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Algorithm Developer Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Nicaragua, a male algorithm developer will earn an average of 301,700 NIO, while a female algorithm developer will earn around 277,400 NIO.

This means that a male algorithm developer earns approximately 9% more than a female algorithm developer for performing the same job.

Average Salary by Gender Chart in Nicaragua

Male
301,700 NIO
Female -9%
277,400 NIO

Algorithm Developer Average Pay Raise in Nicaragua

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Algorithm Developer in Nicaragua is around 8% every 28 months.

The national average pay raise across all professions and industries in Nicaragua is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 28 ) × 12  = 3%

What this means is that an Algorithm Developer in Nicaragua can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Nicaragua for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Nicaragua.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Algorithm Developer Bonus and Incentive Rates in Nicaragua

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Algorithm Developer is a low bonus based job, with 39% of employees reporting at least one bonus in the last 12 months.

61% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
39%
No Bonus
61%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Nicaragua earn approximately 14% more than private sector employees in the same role.

Public Sector
245,300 NIO
Private Sector -14%
215,100 NIO

Salaries for Jobs Similar to an Algorithm Developer

In the table below, we have salary information for jobs that are similar to an Algorithm Developer in Nicaragua.

Job Title Category Salary
3D Lab Technologist Science and Technical Services 215,100 NIO
Analytical Chemist Science and Technical Services 407,300 NIO
Anthropologist Science and Technical Services 322,600 NIO
Archeologist Science and Technical Services 263,900 NIO
Assistant Breeder Science and Technical Services 142,300 NIO
Astronomer Science and Technical Services 492,400 NIO
Atmospheric and Space Scientist Science and Technical Services 409,000 NIO
Behavior Analyst Science and Technical Services 277,400 NIO
Behavior Intervention Specialist Science and Technical Services 294,300 NIO
Behavior Specialist Science and Technical Services 290,800 NIO
Biochemist Science and Technical Services 466,300 NIO
Biofuels Processing Technician Science and Technical Services 192,600 NIO
Biofuels Production Manager Science and Technical Services 325,900 NIO
Biologist Science and Technical Services 453,200 NIO
Biomedical Laboratory Officer Science and Technical Services 183,600 NIO
Biomedical Scientist Science and Technical Services 483,800 NIO
Biophysicist Science and Technical Services 491,000 NIO
Chemical Engineer Science and Technical Services 215,100 NIO
Chemical Technologist Science and Technical Services 209,500 NIO
Chemist Science and Technical Services 451,000 NIO
Chief Technologist Science and Technical Services 401,300 NIO
Climate Change Analyst Science and Technical Services 301,800 NIO
Clinical Laboratory Scientist Science and Technical Services 472,100 NIO
Computer Scientist Science and Technical Services 357,700 NIO
Conservation Scientist Science and Technical Services 366,200 NIO
Data Science Specialist Science and Technical Services 275,800 NIO
Data Scientist Science and Technical Services 344,600 NIO
DNA Analyst Science and Technical Services 464,900 NIO
Ecologist Science and Technical Services 366,200 NIO
Economic Development Specialist Science and Technical Services 353,600 NIO
Flavourist Science and Technical Services 158,700 NIO
Food Scientist Science and Technical Services 288,700 NIO
Forensic Scientist Science and Technical Services 378,800 NIO
Formulation Technologist Science and Technical Services 189,300 NIO
Fraud Investigator Science and Technical Services 228,500 NIO
Genomics Scientist Science and Technical Services 480,300 NIO
Geographer Science and Technical Services 263,100 NIO
Geographic Information Systems Technician Science and Technical Services 159,500 NIO
Geological Data Technician Science and Technical Services 159,500 NIO
Geological Technician Science and Technical Services 192,600 NIO
Geologist Science and Technical Services 378,800 NIO
Geomatics Scientist Science and Technical Services 377,200 NIO
Geophysical Data Technician Science and Technical Services 154,700 NIO
Geospatial Information Scientist and Technologist Science and Technical Services 365,400 NIO
Global Technical Lead Science and Technical Services 478,000 NIO
Hydrologist Science and Technical Services 312,400 NIO
Industrial Ecologist Science and Technical Services 308,300 NIO
Intelligence Analyst Science and Technical Services 288,700 NIO
Knowledge Management Specialist Science and Technical Services 237,400 NIO
Lab Analyst Science and Technical Services 195,200 NIO
Lab Manager Science and Technical Services 332,100 NIO
Lab Technician Science and Technical Services 148,300 NIO
Laboratory Manager Science and Technical Services 313,700 NIO
Laboratory Researcher Science and Technical Services 225,700 NIO
Laboratory Technician Science and Technical Services 142,300 NIO
Life Sciences Analyst Science and Technical Services 330,700 NIO
Life Scientist Science and Technical Services 362,200 NIO
Marine Architect Science and Technical Services 277,400 NIO
Marine Biologist Science and Technical Services 332,500 NIO
Marine Superintendent Science and Technical Services 204,000 NIO
Materials Analyst Science and Technical Services 194,600 NIO
Materials Scientist Science and Technical Services 365,400 NIO
Mathematician Science and Technical Services 367,200 NIO
Medical Scientist Science and Technical Services 467,100 NIO
Metallurgist Science and Technical Services 340,400 NIO
Meteorologist Science and Technical Services 325,800 NIO
Microbiologist Science and Technical Services 504,300 NIO
Natural Language Processing Researcher Science and Technical Services 292,000 NIO
Natural Resource Specialist Science and Technical Services 279,400 NIO
Natural Resources Analyst Science and Technical Services 288,700 NIO
Natural Sciences Manager Science and Technical Services 431,100 NIO
Nuclear Engineer Science and Technical Services 493,000 NIO
Physical Scientist Science and Technical Services 396,300 NIO
Physicist Science and Technical Services 476,600 NIO
Political Scientist Science and Technical Services 367,200 NIO
Polygraph Examiner Science and Technical Services 125,100 NIO
Polysomnographic Technologist Science and Technical Services 225,700 NIO
Product Development Scientist Science and Technical Services 399,900 NIO
Quantitative Research Analyst Science and Technical Services 308,900 NIO
Quantitative Researcher Science and Technical Services 325,800 NIO
Radiation Protection Specialist Science and Technical Services 249,600 NIO
Refrigeration Technician Science and Technical Services 111,860 NIO
Research Scientist Science and Technical Services 330,900 NIO
Risk Safety Engineer Science and Technical Services 210,500 NIO
Scientific Photographer Science and Technical Services 197,600 NIO
Scientific Programmer Science and Technical Services 296,000 NIO
Scientist Science and Technical Services 332,100 NIO
Service Engineer Science and Technical Services 207,700 NIO
Service Technician Science and Technical Services 139,100 NIO
Social Science Research Assistant Science and Technical Services 205,700 NIO
Social Scientist Science and Technical Services 362,200 NIO
Sociologist Science and Technical Services 332,500 NIO
Soil Scientist Science and Technical Services 294,700 NIO
Statistical Analyst Science and Technical Services 197,600 NIO
Statistical Assistant Science and Technical Services 152,000 NIO
Statistician Science and Technical Services 322,600 NIO
Survey Analyst Science and Technical Services 209,500 NIO
Survey Researcher Science and Technical Services 189,300 NIO
Surveying and Mapping Technician Science and Technical Services 123,400 NIO
Team Leader Science and Technical Services 283,400 NIO
Technical Manager Science and Technical Services 335,800 NIO
Technical Officer Science and Technical Services 137,400 NIO
Technical Service Director Science and Technical Services 413,900 NIO
Technical Services Regulatory Affairs Specialist Science and Technical Services 221,500 NIO
Technical Services Research and Development Manager Science and Technical Services 471,700 NIO
Technical Services Research Associate Science and Technical Services 221,500 NIO
Technical Services Research Coordinator Science and Technical Services 233,600 NIO
Technician Science and Technical Services 136,100 NIO
Water Ecologist Science and Technical Services 381,800 NIO
Wildlife Biologist Science and Technical Services 319,600 NIO

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