Average Chief Technology Officer Salary in Costa Rica for 2024

In this article, we will look at the average Chief Technology Officer 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 Chief Technology Officer Make in Costa Rica?

A Chief Technology Officer working in Costa Rica will typically earn around 44,040,700 CRC per year, and this can range from the lowest average salary of about 21,599,000 CRC to the highest average salary of 68,639,200 CRC.

Average Annual Salary
44,040,700 CRC
Average Monthly Salary
3,670,058 CRC

Lowest Annual Salary
21,599,000 CRC
Lowest Monthly Salary
1,799,916 CRC

Highest Annual Salary
68,639,200 CRC
Highest Monthly Salary
5,719,933 CRC

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

Chief Technology 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 Technology Officer Salaries in Costa Rica

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

Salary ranges

We already know that a Chief Technology Officer can earn between 21,599,000 CRC and 68,639,200 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 Chief Technology Officer in Costa Rica is 44,878,500 CRC. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 44,878,500 CRC, and 50% of the population earn more than 44,878,500 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 Chief Technology Officer salary in Costa Rica, 25% of the population are earning less than 29,881,100 CRC while 75% of the population earn more than 29,881,100 CRC.

75% of the population earn less than 57,961,400 CRC, and 25% of the population earn more than 57,961,400 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.

Chief Technology Officer 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 chief technology 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 Technology Officer in Costa Rica that has less than two years of experience can expect to earn somewhere in the region of 25,561,400 CRC.
  • 2 - 5 Years Experience. With two to five years of experience the average Chief Technology Officer salary would increase to 32,879,500 CRC.
  • 5 - 10 Years Experience. From five to ten years of experience as a Chief Technology Officer, the average salary would be 45,361,500 CRC.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 56,158,300 CRC.
  • 15 - 20 Years Experience. A Chief Technology Officer with 15 to 20 years of experience can earn an average of 60,119,800 CRC.
  • 20+ Years Experience. For a Chief Technology Officer with more than 20 years, the expected average salary increases to 64,198,300 CRC.

Average Salary by Experience Chart

0-2 Years
25,561,400 CRC
2-5 Years +29%
32,879,500 CRC
5-10 Years +38%
45,361,500 CRC
10-15 Years +24%
56,158,300 CRC
15-20 Years +7%
60,119,800 CRC
20+ Years +7%
64,198,300 CRC

Chief Technology Officer 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 Chief Technology Officer 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.

  • Certificate or Diploma. A Chief Technology Officer in Costa Rica with a certificate or diploma education can earn an average salary of 32,879,500 CRC.

  • Bachelor's Degree. A Chief Technology Officer in Costa Rica with a bachelor's degree education can earn an average salary of 44,161,600 CRC.

  • Master's Degree. A Chief Technology Officer in Costa Rica with a master's degree education can earn an average salary of 67,681,200 CRC.

Average Salary by Education Chart

Certificate or Diploma
32,879,500 CRC
Bachelor's Degree +34%
44,161,600 CRC
Master's Degree +53%
67,681,200 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.

Chief Technology 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 Costa Rica, a male chief technology officer will earn an average of 45,239,100 CRC, while a female chief technology officer will earn around 42,359,400 CRC.

This means that a male chief technology officer earns approximately 7% more than a female chief technology officer for performing the same job.

Average Salary by Gender Chart in Costa Rica

Male
45,239,100 CRC
Female -7%
42,359,400 CRC

Chief Technology Officer 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 Chief Technology Officer in Costa Rica is around 13% every 19 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 = ( 13 ÷ 19 ) × 12  = 8%

What this means is that a Chief Technology Officer in Costa Rica can expect to receive an average pay raise of around 8% 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%

Chief Technology Officer 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 Chief Technology Officer is a moderate bonus based job, with 55% of employees reporting at least one bonus in the last 12 months.

45% 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
55%
No Bonus
45%

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 Chief Technology Officer

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

Job Title Category Salary
Access Operation Team Leader Telecommunication 30,119,100 CRC
Audio Visual Installer Telecommunication 13,798,900 CRC
Broadband Technician Telecommunication 13,679,300 CRC
Customer Implementation Support Telecommunication 15,001,200 CRC
Fiber Optic Technician Telecommunication 14,519,400 CRC
Mobile Data Coordinator Telecommunication 15,838,200 CRC
OSP Site Supervisor Telecommunication 16,918,700 CRC
Retention Executive Telecommunication 37,441,100 CRC
RF Engineer Telecommunication 24,359,000 CRC
Sales Director Telecommunication 44,998,200 CRC
Sales Engineer Telecommunication 27,601,100 CRC
Technical Support Engineer Telecommunication 25,321,400 CRC
Telecom Chief Engineer Telecommunication 27,479,000 CRC
Telecom Specialist Telecommunication 29,641,500 CRC
Telecommunication Consultant Telecommunication 32,161,000 CRC
Telecommunication Dispatcher Telecommunication 12,239,700 CRC
Telecommunication Equipment Engineer Telecommunication 21,841,900 CRC
Telecommunication Logistics Supervisor Telecommunication 19,799,400 CRC
Telecommunication Product Manager Telecommunication 30,961,800 CRC
Telecommunication Project Coordinator Telecommunication 17,640,500 CRC
Telecommunication Project Manager Telecommunication 30,001,600 CRC
Telecommunication Service Delivery Manager Telecommunication 34,198,600 CRC
Telecommunication Service Management Coordinator Telecommunication 29,399,100 CRC
Telecommunication Solution Architect Telecommunication 33,721,200 CRC
Telecommunication Surveyor Telecommunication 13,919,600 CRC
Telecommunication Team Leader Telecommunication 28,078,900 CRC
Telecommunication Technical Manager Telecommunication 32,280,500 CRC
Telecommunication Technician Telecommunication 12,958,200 CRC
Telecommunications Analyst Telecommunication 30,841,400 CRC
Telecommunications Assistant Manager Telecommunication 31,678,800 CRC
Telecommunications Chief Engineer Telecommunication 28,919,800 CRC
Telecommunications Engineer Telecommunication 27,361,200 CRC
Telecommunications Engineering Specialist Telecommunication 27,841,200 CRC
Telecommunications Equipment Installer Telecommunication 13,441,600 CRC
Telecommunications Facility Examiner Telecommunication 15,599,800 CRC
Telecommunications Line Installer Telecommunication 13,079,500 CRC
Telecommunications Manager Telecommunication 45,961,300 CRC
Telecommunications Network Engineer Telecommunication 26,880,900 CRC
Telecommunications Technician Telecommunication 13,199,100 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 46,800,400 CRC

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