Average Business Manager Salary in Costa Rica for 2024

In this article, we will look at the average Business Manager salary for 2024 in Costa Rica 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 Costa Rican colón. To keep things simple, we are using the CRC currency code instead of the currency symbol ₡.

How Much Does a Business Manager Make in Costa Rica?

A Business Manager working in Costa Rica will typically earn around 39,001,000 CRC per year, and this can range from the lowest average salary of about 17,879,000 CRC to the highest average salary of 61,919,600 CRC.

Average Annual Salary
39,001,000 CRC
Average Monthly Salary
3,250,083 CRC

Lowest Annual Salary
17,879,000 CRC
Lowest Monthly Salary
1,489,916 CRC

Highest Annual Salary
61,919,600 CRC
Highest Monthly Salary
5,159,966 CRC

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

Business Manager 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 Manager Salaries in Costa Rica

So we've looked at the average salaries a Business Manager will earn in Costa Rica. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Business Manager can earn between 17,879,000 CRC and 61,919,600 CRC on average in Costa Rica. 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 Manager in Costa Rica is 42,119,100 CRC. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 42,119,100 CRC, and 50% of the population earn more than 42,119,100 CRC.

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 Manager salary in Costa Rica, 25% of the population are earning less than 27,001,700 CRC while 75% of the population earn more than 27,001,700 CRC.

75% of the population earn less than 56,158,300 CRC, and 25% of the population earn more than 56,158,300 CRC.

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 Manager Salary by Experience Level in Costa Rica

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 manager 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 Manager in Costa Rica that has less than two years of experience can expect to earn somewhere in the region of 20,281,100 CRC.
  • 2 - 5 Years Experience. With two to five years of experience the average Business Manager salary would increase to 27,118,300 CRC.
  • 5 - 10 Years Experience. From five to ten years of experience as a Business Manager, the average salary would be 40,199,100 CRC.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 48,961,500 CRC.
  • 15 - 20 Years Experience. A Business Manager with 15 to 20 years of experience can earn an average of 53,398,300 CRC.
  • 20+ Years Experience. For a Business Manager with more than 20 years, the expected average salary increases to 57,719,800 CRC.

Average Salary by Experience Chart

0-2 Years
20,281,100 CRC
2-5 Years +34%
27,118,300 CRC
5-10 Years +48%
40,199,100 CRC
10-15 Years +22%
48,961,500 CRC
15-20 Years +9%
53,398,300 CRC
20+ Years +8%
57,719,800 CRC

Business Manager Salary by Education Level in Costa Rica

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 Manager in Costa Rica 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 Manager in Costa Rica with a high school education can earn an average salary of 24,958,800 CRC.

  • Certificate or Diploma. A Business Manager in Costa Rica with a certificate or diploma education can earn an average salary of 29,399,100 CRC.

  • Bachelor's Degree. A Business Manager in Costa Rica with a bachelor's degree education can earn an average salary of 42,601,100 CRC.

  • Master's Degree. A Business Manager in Costa Rica with a master's degree education can earn an average salary of 55,801,900 CRC.

Average Salary by Education Chart

High School
24,958,800 CRC
Certificate or Diploma +18%
29,399,100 CRC
Bachelor's Degree +45%
42,601,100 CRC
Master's Degree +31%
55,801,900 CRC

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 Costa Rica is around 11,800,000 to 35,400,000 CRC 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 Manager 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 Costa Rica, a male business manager will earn an average of 40,679,700 CRC, while a female business manager will earn around 37,201,700 CRC.

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

Average Salary by Gender Chart in Costa Rica

Male
40,679,700 CRC
Female -9%
37,201,700 CRC

Business Manager Average Pay Raise in Costa Rica

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 Manager in Costa Rica is around 14% every 16 months.

The national average pay raise across all professions and industries in Costa Rica is around 9% every 17 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 = ( 14 ÷ 16 ) × 12  = 11%

What this means is that a Business Manager in Costa Rica can expect to receive an average pay raise of around 11% every 12 months.

Annual Pay Raise by Industry in Costa Rica for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Business Manager Bonus and Incentive Rates in Costa Rica

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 Manager is a high bonus based job, with 83% of employees reporting at least one bonus in the last 12 months.

17% 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
83%
No Bonus
17%

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 Costa Rica earn approximately 6% more than private sector employees in the same role.

Public Sector
29,399,100 CRC
Private Sector -6%
27,721,300 CRC

Salaries for Jobs Similar to a Business Manager

In the table below, we have salary information for jobs that are similar to a Business Manager in Costa Rica.

Job Title Category Salary
Assistant Business Development Manager Business Planning 38,158,300 CRC
Assistant Merchandise Planner Business Planning 20,999,200 CRC
Business Advisor Business Planning 35,640,500 CRC
Business Analyst Business Planning 33,599,200 CRC
Business Consultant Business Planning 34,441,600 CRC
Business Continuity Associate Business Planning 20,159,800 CRC
Business Developer Business Planning 23,280,700 CRC
Business Development Analyst Business Planning 25,321,400 CRC
Business Development Associate Business Planning 18,479,600 CRC
Business Development Coordinator Business Planning 18,958,500 CRC
Business Development Director Business Planning 46,800,400 CRC
Business Development Engineer Business Planning 27,479,000 CRC
Business Development Executive Business Planning 34,319,800 CRC
Business Development Manager Business Planning 44,040,700 CRC
Business Development Specialist Business Planning 33,119,100 CRC
Business Operations Specialist Business Planning 33,599,200 CRC
Business Process Writer Business Planning 20,038,100 CRC
Business Systems Analyst Business Planning 35,159,900 CRC
Capacity Planner Business Planning 24,841,800 CRC
Capacity Planning Supervisor Business Planning 31,678,800 CRC
Change Communications Analyst Business Planning 33,119,100 CRC
Change Control Analyst Business Planning 32,280,500 CRC
Change Impact Analyst Business Planning 34,319,800 CRC
Contracts Executive Business Planning 32,519,500 CRC
Corporate Strategy Analyst Business Planning 36,240,700 CRC
Cost Control Engineer Business Planning 21,478,100 CRC
Cost Controller Business Planning 25,561,400 CRC
Cost Estimator Business Planning 22,441,700 CRC
Data Executive Business Planning 18,001,100 CRC
Data Manager Business Planning 26,040,800 CRC
Data Processing Manager Business Planning 31,320,700 CRC
Development Researcher Business Planning 26,520,600 CRC
Director of Business Development Business Planning 46,800,400 CRC
Director of Production Planning Business Planning 40,079,600 CRC
Due Diligence Analyst Business Planning 38,039,000 CRC
Estimating Manager Business Planning 38,399,900 CRC
General Manager Business Planning 40,321,500 CRC
Incident Handler Business Planning 24,359,000 CRC
Incident Specialist Business Planning 28,439,500 CRC
Lean Consultant Business Planning 26,759,500 CRC
Manager Business Planning 44,878,500 CRC
Marketing and Business Development Manager Business Planning 41,638,700 CRC
Materials Planner Business Planning 14,760,200 CRC
Merchandise Assistant Business Planning 15,118,700 CRC
Merchandise Controller Business Planning 14,519,400 CRC
Merchandise Planner Business Planning 15,599,800 CRC
Operations Analyst Business Planning 30,600,900 CRC
Operations Manager Business Planning 36,121,000 CRC
Operations Research Analyst Business Planning 21,599,000 CRC
Planning and Reporting Manager Business Planning 36,001,200 CRC
Planning Director Business Planning 44,280,500 CRC
Project Administrator Business Planning 21,361,700 CRC
Project Manager Business Planning 36,841,600 CRC
Project Planner Business Planning 21,478,100 CRC
Research Assistant Business Planning 19,558,300 CRC
Research Engineer Business Planning 21,719,900 CRC
Research Officer Business Planning 17,519,700 CRC
Risk Management Specialist Business Planning 31,678,800 CRC
Scholarship Coordinator Business Planning 18,001,100 CRC
Store Planner Business Planning 16,918,700 CRC
Strategy Director Business Planning 46,680,900 CRC
Top Research and Development Executive Business Planning 52,800,100 CRC

Salary Comparison by City

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

City Average Salary
San Jose 44,398,300 CRC

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