Average Business Development Director Salary in Trinidad and Tobago for 2024

In this article, we will look at the average Business Development Director salary for 2024 in Trinidad and Tobago 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 Trinidad and Tobago dollar. To keep things simple, we are using the TTD currency code instead of the currency symbol $.

How Much Does a Business Development Director Make in Trinidad and Tobago?

A Business Development Director working in Trinidad and Tobago will typically earn around 207,700 TTD per year, and this can range from the lowest average salary of about 94,400 TTD to the highest average salary of 330,700 TTD.

Average Annual Salary
207,700 TTD
Average Monthly Salary
17,308 TTD

Lowest Annual Salary
94,400 TTD
Lowest Monthly Salary
7,866 TTD

Highest Annual Salary
330,700 TTD
Highest Monthly Salary
27,558 TTD

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

Business Development Director 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 Director Salaries in Trinidad and Tobago

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

Salary ranges

We already know that a Business Development Director can earn between 94,400 TTD and 330,700 TTD on average in Trinidad and Tobago. 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 Director in Trinidad and Tobago is 225,700 TTD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 225,700 TTD, and 50% of the population earn more than 225,700 TTD.

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 Director salary in Trinidad and Tobago, 25% of the population are earning less than 142,300 TTD while 75% of the population earn more than 142,300 TTD.

75% of the population earn less than 297,000 TTD, and 25% of the population earn more than 297,000 TTD.

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 Director Salary by Experience Level in Trinidad and Tobago

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 director 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 Director in Trinidad and Tobago that has less than two years of experience can expect to earn somewhere in the region of 107,960 TTD.
  • 2 - 5 Years Experience. With two to five years of experience the average Business Development Director salary would increase to 146,200 TTD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Business Development Director, the average salary would be 212,500 TTD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 261,300 TTD.
  • 15 - 20 Years Experience. A Business Development Director with 15 to 20 years of experience can earn an average of 282,500 TTD.
  • 20+ Years Experience. For a Business Development Director with more than 20 years, the expected average salary increases to 308,900 TTD.

Average Salary by Experience Chart

0-2 Years
107,960 TTD
2-5 Years +34%
146,200 TTD
5-10 Years +48%
212,500 TTD
10-15 Years +22%
261,300 TTD
15-20 Years +9%
282,500 TTD
20+ Years +8%
308,900 TTD

Business Development Director Salary by Education Level in Trinidad and Tobago

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 Director in Trinidad and Tobago based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. A Business Development Director in Trinidad and Tobago with a certificate or diploma education can earn an average salary of 125,100 TTD.

  • Bachelor's Degree. A Business Development Director in Trinidad and Tobago with a bachelor's degree education can earn an average salary of 194,600 TTD.

  • Master's Degree. A Business Development Director in Trinidad and Tobago with a master's degree education can earn an average salary of 325,600 TTD.

Average Salary by Education Chart

Certificate or Diploma
125,100 TTD
Bachelor's Degree +57%
194,600 TTD
Master's Degree +68%
325,600 TTD

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 Trinidad and Tobago is around 48,800 to 147,000 TTD 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 Director 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 Trinidad and Tobago, a male business development director will earn an average of 215,100 TTD, while a female business development director will earn around 197,600 TTD.

This means that a male business development director earns approximately 9% more than a female business development director for performing the same job.

Average Salary by Gender Chart in Trinidad and Tobago

Male
215,100 TTD
Female -9%
197,600 TTD

Business Development Director Average Pay Raise in Trinidad and Tobago

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 Director in Trinidad and Tobago is around 10% every 29 months.

The national average pay raise across all professions and industries in Trinidad and Tobago 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 = ( 10 ÷ 29 ) × 12  = 4%

What this means is that a Business Development Director in Trinidad and Tobago can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Trinidad and Tobago for 2024

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

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%

Business Development Director Bonus and Incentive Rates in Trinidad and Tobago

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 Director is a moderate bonus based job, with 68% of employees reporting at least one bonus in the last 12 months.

32% 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
68%
No Bonus
32%

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 Trinidad and Tobago earn approximately 12% more than private sector employees in the same role.

Public Sector
125,700 TTD
Private Sector -12%
112,460 TTD

Salaries for Jobs Similar to a Business Development Director

In the table below, we have salary information for jobs that are similar to a Business Development Director in Trinidad and Tobago.

Job Title Category Salary
Assistant Business Development Manager Business Planning 159,400 TTD
Assistant Merchandise Planner Business Planning 96,600 TTD
Business Advisor Business Planning 154,700 TTD
Business Analyst Business Planning 154,700 TTD
Business Consultant Business Planning 138,200 TTD
Business Continuity Associate Business Planning 86,640 TTD
Business Developer Business Planning 97,880 TTD
Business Development Analyst Business Planning 104,440 TTD
Business Development Associate Business Planning 77,120 TTD
Business Development Coordinator Business Planning 80,280 TTD
Business Development Engineer Business Planning 115,940 TTD
Business Development Executive Business Planning 158,700 TTD
Business Development Manager Business Planning 187,500 TTD
Business Development Specialist Business Planning 146,200 TTD
Business Manager Business Planning 172,400 TTD
Business Operations Specialist Business Planning 142,300 TTD
Business Process Writer Business Planning 88,260 TTD
Business Systems Analyst Business Planning 148,300 TTD
Capacity Planner Business Planning 103,440 TTD
Capacity Planning Supervisor Business Planning 142,300 TTD
Change Communications Analyst Business Planning 128,900 TTD
Change Control Analyst Business Planning 137,400 TTD
Change Impact Analyst Business Planning 138,800 TTD
Contracts Executive Business Planning 138,800 TTD
Corporate Strategy Analyst Business Planning 158,700 TTD
Cost Control Engineer Business Planning 95,720 TTD
Cost Controller Business Planning 110,500 TTD
Cost Estimator Business Planning 95,980 TTD
Data Executive Business Planning 75,100 TTD
Data Manager Business Planning 111,920 TTD
Data Processing Manager Business Planning 128,500 TTD
Development Researcher Business Planning 108,080 TTD
Director of Business Development Business Planning 217,900 TTD
Director of Production Planning Business Planning 187,300 TTD
Due Diligence Analyst Business Planning 158,700 TTD
Estimating Manager Business Planning 164,200 TTD
General Manager Business Planning 185,100 TTD
Incident Handler Business Planning 99,080 TTD
Incident Specialist Business Planning 125,100 TTD
Lean Consultant Business Planning 109,340 TTD
Manager Business Planning 196,800 TTD
Marketing and Business Development Manager Business Planning 176,800 TTD
Materials Planner Business Planning 60,600 TTD
Merchandise Assistant Business Planning 65,760 TTD
Merchandise Controller Business Planning 58,720 TTD
Merchandise Planner Business Planning 63,500 TTD
Operations Analyst Business Planning 138,800 TTD
Operations Manager Business Planning 148,300 TTD
Operations Research Analyst Business Planning 94,900 TTD
Planning and Reporting Manager Business Planning 164,200 TTD
Planning Director Business Planning 192,600 TTD
Project Administrator Business Planning 98,820 TTD
Project Manager Business Planning 154,700 TTD
Project Planner Business Planning 97,060 TTD
Research Assistant Business Planning 83,640 TTD
Research Engineer Business Planning 97,060 TTD
Research Officer Business Planning 77,060 TTD
Risk Management Specialist Business Planning 143,200 TTD
Scholarship Coordinator Business Planning 72,740 TTD
Store Planner Business Planning 72,120 TTD
Strategy Director Business Planning 196,800 TTD
Top Research and Development Executive Business Planning 214,000 TTD

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