Average Chief Product Officer Salary in Cape Verde for 2024

In this article, we will look at the average Chief Product Officer salary for 2024 in Cape Verde 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 Cape Verdean escudo. To keep things simple, we are using the CVE currency code instead of the currency symbol Esc.

How Much Does a Chief Product Officer Make in Cape Verde?

A Chief Product Officer working in Cape Verde will typically earn around 4,176,700 CVE per year, and this can range from the lowest average salary of about 2,038,500 CVE to the highest average salary of 6,514,800 CVE.

Average Annual Salary
4,176,700 CVE
Average Monthly Salary
348,058 CVE

Lowest Annual Salary
2,038,500 CVE
Lowest Monthly Salary
169,875 CVE

Highest Annual Salary
6,514,800 CVE
Highest Monthly Salary
542,900 CVE

These are average salaries for a Chief Product Officer in Cape Verde and include benefits such as housing and transport. It's also possible for a Chief Product Officer to earn more or less than the average salaries shown above.

Chief Product Officer 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 Chief Product Officer Salaries in Cape Verde

So we've looked at the average salaries a Chief Product Officer will earn in Cape Verde. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Chief Product Officer can earn between 2,038,500 CVE and 6,514,800 CVE on average in Cape Verde. 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 Chief Product Officer in Cape Verde is 4,260,400 CVE. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 4,260,400 CVE, and 50% of the population earn more than 4,260,400 CVE.

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 Chief Product Officer salary in Cape Verde, 25% of the population are earning less than 2,831,100 CVE while 75% of the population earn more than 2,831,100 CVE.

75% of the population earn less than 5,495,200 CVE, and 25% of the population earn more than 5,495,200 CVE.

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.

Chief Product Officer Salary by Experience Level in Cape Verde

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 chief product officer 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 Chief Product Officer in Cape Verde that has less than two years of experience can expect to earn somewhere in the region of 2,423,000 CVE.
  • 2 - 5 Years Experience. With two to five years of experience the average Chief Product Officer salary would increase to 3,118,900 CVE.
  • 5 - 10 Years Experience. From five to ten years of experience as a Chief Product Officer, the average salary would be 4,297,400 CVE.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 5,326,200 CVE.
  • 15 - 20 Years Experience. A Chief Product Officer with 15 to 20 years of experience can earn an average of 5,711,000 CVE.
  • 20+ Years Experience. For a Chief Product Officer with more than 20 years, the expected average salary increases to 6,084,900 CVE.

Average Salary by Experience Chart

0-2 Years
2,423,000 CVE
2-5 Years +29%
3,118,900 CVE
5-10 Years +38%
4,297,400 CVE
10-15 Years +24%
5,326,200 CVE
15-20 Years +7%
5,711,000 CVE
20+ Years +7%
6,084,900 CVE

Chief Product Officer Salary by Education Level in Cape Verde

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 Chief Product Officer in Cape Verde 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 Chief Product Officer in Cape Verde with a certificate or diploma education can earn an average salary of 3,118,900 CVE.

  • Bachelor's Degree. A Chief Product Officer in Cape Verde with a bachelor's degree education can earn an average salary of 4,187,600 CVE.

  • Master's Degree. A Chief Product Officer in Cape Verde with a master's degree education can earn an average salary of 6,420,700 CVE.

Average Salary by Education Chart

Certificate or Diploma
3,118,900 CVE
Bachelor's Degree +34%
4,187,600 CVE
Master's Degree +53%
6,420,700 CVE

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 Cape Verde is around 1,020,000 to 3,060,000 CVE 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.

Chief Product Officer 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 Cape Verde, a male chief product officer will earn an average of 4,332,900 CVE, while a female chief product officer will earn around 3,946,200 CVE.

This means that a male chief product officer earns approximately 10% more than a female chief product officer for performing the same job.

Average Salary by Gender Chart in Cape Verde

Male
4,332,900 CVE
Female -10%
3,946,200 CVE

Chief Product Officer Average Pay Raise in Cape Verde

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 Chief Product Officer in Cape Verde is around 8% every 30 months.

The national average pay raise across all professions and industries in Cape Verde 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 ÷ 30 ) × 12  = 3%

What this means is that a Chief Product Officer in Cape Verde can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Cape Verde for 2024

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

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%

Chief Product Officer Bonus and Incentive Rates in Cape Verde

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 Chief Product Officer 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 Cape Verde earn approximately 14% more than private sector employees in the same role.

Public Sector
2,653,700 CVE
Private Sector -14%
2,327,100 CVE

Salaries for Jobs Similar to a Chief Product Officer

In the table below, we have salary information for jobs that are similar to a Chief Product Officer in Cape Verde.

Job Title Category Salary
Account Handler Marketing 1,930,500 CVE
Affiliate Manager Marketing 2,748,900 CVE
Analytics Specialist Marketing 2,015,600 CVE
Assistant Brand Manager Marketing 2,782,600 CVE
Assistant Product Manager Marketing 2,953,200 CVE
Associate Marketing Manager Marketing 2,998,500 CVE
Associate Product Manager Marketing 2,976,900 CVE
Brand Ambassador Marketing 3,769,500 CVE
Brand Director Marketing 4,786,100 CVE
Brand Executive Marketing 3,959,700 CVE
Brand Manager Marketing 4,093,700 CVE
Business Analytics Specialist Marketing 1,990,300 CVE
Business Channel Manager Marketing 2,773,700 CVE
Business Intelligence Team Leader Marketing 2,953,200 CVE
Campaign Specialist Marketing 2,508,300 CVE
Chief Marketing Officer Marketing 4,211,600 CVE
Communications Officer Marketing 1,273,300 CVE
Content Manager Marketing 2,352,500 CVE
Content Marketing Strategist Marketing 2,724,700 CVE
Copy Editer Marketing 1,632,100 CVE
Copy Writer Marketing 1,703,200 CVE
Creative Marketing Lead Marketing 2,617,900 CVE
Creative Writer Marketing 1,693,600 CVE
Digital Marketer Marketing 2,435,600 CVE
Digital Marketing Manager Marketing 3,385,800 CVE
Digital Marketing Strategist Marketing 3,263,500 CVE
Digital Media Specialist Marketing 2,782,600 CVE
Director of Marketing Marketing 4,224,200 CVE
Director of Research Marketing 3,085,500 CVE
eMarketing Manager Marketing 3,586,300 CVE
Event Marketing Marketing 3,168,300 CVE
Head of Executive Search Marketing 3,733,300 CVE
Key Affiliate Manager Marketing 3,071,100 CVE
Localization Manager Marketing 2,928,100 CVE
Market Development Executive Marketing 3,503,800 CVE
Market Development Manager Marketing 3,514,400 CVE
Market Research Analyst Marketing 2,976,900 CVE
Market Research Manager Marketing 3,047,800 CVE
Market Segmentation Director Marketing 3,178,700 CVE
Marketing Account Supervisor Marketing 2,605,500 CVE
Marketing Administrator Marketing 2,266,400 CVE
Marketing Advisor Marketing 2,471,700 CVE
Marketing Analyst Marketing 2,662,900 CVE
Marketing and Communications Officer Marketing 1,570,900 CVE
Marketing and Sales Head Marketing 4,235,500 CVE
Marketing Assistant Marketing 1,380,400 CVE
Marketing Associate Marketing 1,417,600 CVE
Marketing Communications Manager Marketing 2,914,600 CVE
Marketing Consultant Marketing 3,094,100 CVE
Marketing Coordinator Marketing 1,405,700 CVE
Marketing Director Marketing 4,282,500 CVE
Marketing Distribution Executive Marketing 3,385,800 CVE
Marketing Executive Marketing 3,481,100 CVE
Marketing Manager Marketing 4,414,800 CVE
Marketing Officer Marketing 1,428,800 CVE
Marketing Segment Manager Marketing 3,205,100 CVE
Marketing Specialist Marketing 2,221,600 CVE
Marketing Supervisor Marketing 2,485,800 CVE
Marketing Vice President Marketing 3,481,100 CVE
Marketing Writer Marketing 1,632,100 CVE
Online Marketing Analyst Marketing 2,471,700 CVE
Online Marketing Manager Marketing 2,878,300 CVE
Optimization Manager Marketing 2,759,700 CVE
Outbound Sales Marketing 1,921,500 CVE
Outreach Coordinator Marketing 1,870,400 CVE
Outreach Specialist Marketing 2,281,800 CVE
Product Development Marketing 2,998,500 CVE
Product Manager Marketing 3,359,900 CVE
Product Marketing Engineer Marketing 1,846,200 CVE
Product Marketing Executive Marketing 3,288,400 CVE
Product Marketing Manager Marketing 3,373,200 CVE
Product Researcher Marketing 1,835,700 CVE
Product Strategist Marketing 2,662,900 CVE
Product Strategy Researcher Marketing 2,352,500 CVE
Product Training Specialist Marketing 2,173,000 CVE
Project Manager Marketing 2,629,100 CVE
Publications Coordinator Marketing 1,621,400 CVE
Research Executive Marketing 2,998,500 CVE
Sales and Marketing Assistant Marketing 1,283,600 CVE
Sales and Marketing Coordinator Marketing 1,405,700 CVE
Sales and Marketing Director Marketing 4,594,300 CVE
Sales Director Marketing 4,140,900 CVE
Sales Management Support Marketing 1,500,800 CVE
Sales Manager Marketing 3,970,700 CVE
Search Marketing Strategist Marketing 3,718,600 CVE
Social Media Administrator Marketing 2,508,300 CVE
Social Media Specialist Marketing 2,314,800 CVE
Spaceman Analyst Marketing 1,380,400 CVE
Sponsorship Consultant Marketing 2,266,400 CVE
Team Leader Marketing 2,519,500 CVE
Telemarketer Marketing 1,333,900 CVE
Trade Marketing Executive Marketing 3,288,400 CVE
Trade Marketing Manager Marketing 3,349,100 CVE
Trade Marketing Professional Marketing 2,593,900 CVE
Trade Marketing Specialist Marketing 1,980,600 CVE
Web Analytics Manager Marketing 2,782,600 CVE
Web Content Manager Marketing 2,593,900 CVE

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