Average Business Development Analyst Salary in Liberia for 2024

In this article, we will look at the average Business Development Analyst salary for 2024 in Liberia 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 Liberian dollar. To keep things simple, we are using the LRD currency code instead of the currency symbol $.

How Much Does a Business Development Analyst Make in Liberia?

A Business Development Analyst working in Liberia will typically earn around 768,900 LRD per year, and this can range from the lowest average salary of about 362,200 LRD to the highest average salary of 1,212,800 LRD.

Average Annual Salary
768,900 LRD
Average Monthly Salary
64,075 LRD

Lowest Annual Salary
362,200 LRD
Lowest Monthly Salary
30,183 LRD

Highest Annual Salary
1,212,800 LRD
Highest Monthly Salary
101,066 LRD

These are average salaries for a Business Development Analyst in Liberia and include benefits such as housing and transport. It's also possible for a Business Development Analyst to earn more or less than the average salaries shown above.

Business Development Analyst 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 Business Development Analyst Salaries in Liberia

So we've looked at the average salaries a Business Development Analyst will earn in Liberia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Business Development Analyst can earn between 362,200 LRD and 1,212,800 LRD on average in Liberia. 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 a Business Development Analyst in Liberia is 814,500 LRD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 814,500 LRD, and 50% of the population earn more than 814,500 LRD.

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 Business Development Analyst salary in Liberia, 25% of the population are earning less than 528,600 LRD while 75% of the population earn more than 528,600 LRD.

75% of the population earn less than 1,078,200 LRD, and 25% of the population earn more than 1,078,200 LRD.

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.

Business Development Analyst Salary by Experience Level in Liberia

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 business development analyst 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. A Business Development Analyst in Liberia that has less than two years of experience can expect to earn somewhere in the region of 417,200 LRD.
  • 2 - 5 Years Experience. With two to five years of experience the average Business Development Analyst salary would increase to 575,100 LRD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Business Development Analyst, the average salary would be 816,900 LRD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 996,600 LRD.
  • 15 - 20 Years Experience. A Business Development Analyst with 15 to 20 years of experience can earn an average of 1,051,400 LRD.
  • 20+ Years Experience. For a Business Development Analyst with more than 20 years, the expected average salary increases to 1,147,500 LRD.

Average Salary by Experience Chart

0-2 Years
417,200 LRD
2-5 Years +38%
575,100 LRD
5-10 Years +42%
816,900 LRD
10-15 Years +22%
996,600 LRD
15-20 Years +6%
1,051,400 LRD
20+ Years +9%
1,147,500 LRD

Business Development Analyst Salary by Education Level in Liberia

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 a Business Development Analyst in Liberia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Business Development Analyst in Liberia with a high school education can earn an average salary of 516,100 LRD.

  • Certificate or Diploma. A Business Development Analyst in Liberia with a certificate or diploma education can earn an average salary of 598,600 LRD.

  • Bachelor's Degree. A Business Development Analyst in Liberia with a bachelor's degree education can earn an average salary of 875,000 LRD.

  • Master's Degree. A Business Development Analyst in Liberia with a master's degree education can earn an average salary of 1,147,500 LRD.

Average Salary by Education Chart

High School
516,100 LRD
Certificate or Diploma +17%
598,600 LRD
Bachelor's Degree +45%
875,000 LRD
Master's Degree +31%
1,147,500 LRD

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 Liberia is around 359,000 to 1,080,000 LRD 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.

Business Development Analyst 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 Liberia, a male business development analyst will earn an average of 832,100 LRD, while a female business development analyst will earn around 721,600 LRD.

This means that a male business development analyst earns approximately 15% more than a female business development analyst for performing the same job.

Average Salary by Gender Chart in Liberia

Male
832,100 LRD
Female -15%
721,600 LRD

Business Development Analyst Average Pay Raise in Liberia

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 a Business Development Analyst in Liberia is around 8% every 28 months.

The national average pay raise across all professions and industries in Liberia is around 4% every 29 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 a Business Development Analyst in Liberia can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Liberia for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Business Development Analyst Bonus and Incentive Rates in Liberia

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.

A Business Development Analyst is a moderate bonus based job, with 65% of employees reporting at least one bonus in the last 12 months.

35% 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 5% to 9%.

Received Bonus
65%
No Bonus
35%

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 Liberia earn approximately 21% more than private sector employees in the same role.

Public Sector
948,900 LRD
Private Sector -21%
782,500 LRD

Salaries for Jobs Similar to a Business Development Analyst

In the table below, we have salary information for jobs that are similar to a Business Development Analyst in Liberia.

Job Title Category Salary
Assistant Business Development Manager Business Planning 1,134,500 LRD
Assistant Merchandise Planner Business Planning 709,600 LRD
Business Advisor Business Planning 1,088,100 LRD
Business Analyst Business Planning 1,095,900 LRD
Business Consultant Business Planning 1,089,400 LRD
Business Continuity Associate Business Planning 650,800 LRD
Business Developer Business Planning 688,900 LRD
Business Development Associate Business Planning 585,900 LRD
Business Development Coordinator Business Planning 587,800 LRD
Business Development Director Business Planning 1,524,300 LRD
Business Development Engineer Business Planning 868,400 LRD
Business Development Executive Business Planning 1,161,000 LRD
Business Development Manager Business Planning 1,357,900 LRD
Business Development Specialist Business Planning 1,021,800 LRD
Business Manager Business Planning 1,283,600 LRD
Business Operations Specialist Business Planning 1,075,700 LRD
Business Process Writer Business Planning 650,800 LRD
Business Systems Analyst Business Planning 1,136,700 LRD
Capacity Planner Business Planning 737,000 LRD
Capacity Planning Supervisor Business Planning 1,006,300 LRD
Change Communications Analyst Business Planning 998,400 LRD
Change Control Analyst Business Planning 1,043,700 LRD
Change Impact Analyst Business Planning 1,078,200 LRD
Contracts Executive Business Planning 1,102,900 LRD
Corporate Strategy Analyst Business Planning 1,134,100 LRD
Cost Control Engineer Business Planning 717,900 LRD
Cost Controller Business Planning 829,000 LRD
Cost Estimator Business Planning 709,600 LRD
Data Executive Business Planning 559,000 LRD
Data Manager Business Planning 814,500 LRD
Data Processing Manager Business Planning 949,600 LRD
Development Researcher Business Planning 851,200 LRD
Director of Business Development Business Planning 1,606,100 LRD
Director of Production Planning Business Planning 1,380,400 LRD
Due Diligence Analyst Business Planning 1,133,900 LRD
Estimating Manager Business Planning 1,184,700 LRD
General Manager Business Planning 1,369,700 LRD
Incident Handler Business Planning 768,900 LRD
Incident Specialist Business Planning 965,000 LRD
Lean Consultant Business Planning 839,500 LRD
Manager Business Planning 1,464,200 LRD
Marketing and Business Development Manager Business Planning 1,345,400 LRD
Materials Planner Business Planning 489,600 LRD
Merchandise Assistant Business Planning 447,300 LRD
Merchandise Controller Business Planning 454,900 LRD
Merchandise Planner Business Planning 499,300 LRD
Operations Analyst Business Planning 949,600 LRD
Operations Manager Business Planning 1,138,300 LRD
Operations Research Analyst Business Planning 643,400 LRD
Planning and Reporting Manager Business Planning 1,159,000 LRD
Planning Director Business Planning 1,380,400 LRD
Project Administrator Business Planning 724,300 LRD
Project Manager Business Planning 1,110,500 LRD
Project Planner Business Planning 695,200 LRD
Research Assistant Business Planning 615,000 LRD
Research Engineer Business Planning 667,400 LRD
Research Officer Business Planning 563,000 LRD
Risk Management Specialist Business Planning 1,059,800 LRD
Scholarship Coordinator Business Planning 545,300 LRD
Store Planner Business Planning 552,400 LRD
Strategy Director Business Planning 1,417,600 LRD
Top Research and Development Executive Business Planning 1,547,500 LRD

Salary Comparison by City

If you want to compare salaries with different cities in Liberia, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Monrovia 870,700 LRD

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