Average Economic Development Specialist Salary in Guinea for 2024

In this article, we will look at the average Economic Development Specialist salary for 2024 in Guinea 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 Guinean franc. To keep things simple, we are using the GNF currency code instead of the currency symbol Fr.

How Much Does an Economic Development Specialist Make in Guinea?

An Economic Development Specialist working in Guinea will typically earn around 122,398,700 GNF per year, and this can range from the lowest average salary of about 60,958,800 GNF to the highest average salary of 189,600,800 GNF.

Average Annual Salary
122,398,700 GNF
Average Monthly Salary
10,199,891 GNF

Lowest Annual Salary
60,958,800 GNF
Lowest Monthly Salary
5,079,900 GNF

Highest Annual Salary
189,600,800 GNF
Highest Monthly Salary
15,800,066 GNF

These are average salaries for an Economic Development Specialist in Guinea and include benefits such as housing and transport. It's also possible for an Economic Development Specialist to earn more or less than the average salaries shown above.

Economic Development Specialist 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 Economic Development Specialist Salaries in Guinea

So we've looked at the average salaries an Economic Development Specialist will earn in Guinea. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Economic Development Specialist can earn between 60,958,800 GNF and 189,600,800 GNF on average in Guinea. 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 an Economic Development Specialist in Guinea is 122,398,700 GNF. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 122,398,700 GNF, and 50% of the population earn more than 122,398,700 GNF.

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 Economic Development Specialist salary in Guinea, 25% of the population are earning less than 82,321,100 GNF while 75% of the population earn more than 82,321,100 GNF.

75% of the population earn less than 156,000,100 GNF, and 25% of the population earn more than 156,000,100 GNF.

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.

Economic Development Specialist Salary by Experience Level in Guinea

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 economic development specialist 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. An Economic Development Specialist in Guinea that has less than two years of experience can expect to earn somewhere in the region of 73,198,300 GNF.
  • 2 - 5 Years Experience. With two to five years of experience the average Economic Development Specialist salary would increase to 96,838,800 GNF.
  • 5 - 10 Years Experience. From five to ten years of experience as an Economic Development Specialist, the average salary would be 129,601,700 GNF.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 154,800,100 GNF.
  • 15 - 20 Years Experience. An Economic Development Specialist with 15 to 20 years of experience can earn an average of 166,799,600 GNF.
  • 20+ Years Experience. For an Economic Development Specialist with more than 20 years, the expected average salary increases to 178,800,800 GNF.

Average Salary by Experience Chart

0-2 Years
73,198,300 GNF
2-5 Years +32%
96,838,800 GNF
5-10 Years +34%
129,601,700 GNF
10-15 Years +19%
154,800,100 GNF
15-20 Years +8%
166,799,600 GNF
20+ Years +7%
178,800,800 GNF

Economic Development Specialist Salary by Education Level in Guinea

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 an Economic Development Specialist in Guinea based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Economic Development Specialist in Guinea with a bachelor's degree education can earn an average salary of 94,321,200 GNF.

  • Master's Degree. An Economic Development Specialist in Guinea with a master's degree education can earn an average salary of 129,601,700 GNF.

  • PhD. An Economic Development Specialist in Guinea with a phd education can earn an average salary of 171,598,600 GNF.

Average Salary by Education Chart

Bachelor's Degree
94,321,200 GNF
Master's Degree +38%
129,601,700 GNF
PhD +31%
171,598,600 GNF

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 Guinea is around 35,000,000 to 105,000,000 GNF 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.

Economic Development Specialist 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 Guinea, a male economic development specialist will earn an average of 124,799,100 GNF, while a female economic development specialist will earn around 117,600,500 GNF.

This means that a male economic development specialist earns approximately 6% more than a female economic development specialist for performing the same job.

Average Salary by Gender Chart in Guinea

Male
124,799,100 GNF
Female -6%
117,600,500 GNF

Economic Development Specialist Average Pay Raise in Guinea

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 an Economic Development Specialist in Guinea is around 8% every 29 months.

The national average pay raise across all professions and industries in Guinea 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 ÷ 29 ) × 12  = 3%

What this means is that an Economic Development Specialist in Guinea can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Guinea for 2024

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

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

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Economic Development Specialist Bonus and Incentive Rates in Guinea

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.

An Economic Development Specialist is a low bonus based job, with 38% of employees reporting at least one bonus in the last 12 months.

62% 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
38%
No Bonus
62%

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 Guinea earn approximately 11% more than private sector employees in the same role.

Public Sector
87,358,200 GNF
Private Sector -11%
78,960,300 GNF

Salaries for Jobs Similar to an Economic Development Specialist

In the table below, we have salary information for jobs that are similar to an Economic Development Specialist in Guinea.

Job Title Category Salary
3D Lab Technologist Science and Technical Services 74,399,600 GNF
Algorithm Developer Science and Technical Services 103,081,100 GNF
Analytical Chemist Science and Technical Services 154,800,100 GNF
Anthropologist Science and Technical Services 117,119,900 GNF
Archeologist Science and Technical Services 99,721,200 GNF
Assistant Breeder Science and Technical Services 51,719,500 GNF
Astronomer Science and Technical Services 177,599,600 GNF
Atmospheric and Space Scientist Science and Technical Services 142,799,100 GNF
Behavior Analyst Science and Technical Services 100,561,900 GNF
Behavior Intervention Specialist Science and Technical Services 109,921,700 GNF
Behavior Specialist Science and Technical Services 101,160,500 GNF
Biochemist Science and Technical Services 159,601,400 GNF
Biofuels Processing Technician Science and Technical Services 63,481,200 GNF
Biofuels Production Manager Science and Technical Services 111,480,700 GNF
Biologist Science and Technical Services 160,800,900 GNF
Biomedical Laboratory Officer Science and Technical Services 65,401,000 GNF
Biomedical Scientist Science and Technical Services 180,000,500 GNF
Biophysicist Science and Technical Services 164,398,100 GNF
Chemical Engineer Science and Technical Services 82,080,500 GNF
Chemical Technologist Science and Technical Services 72,481,900 GNF
Chemist Science and Technical Services 165,599,600 GNF
Chief Technologist Science and Technical Services 144,001,700 GNF
Climate Change Analyst Science and Technical Services 103,561,000 GNF
Clinical Laboratory Scientist Science and Technical Services 176,398,800 GNF
Computer Scientist Science and Technical Services 123,599,800 GNF
Conservation Scientist Science and Technical Services 142,799,100 GNF
Data Science Specialist Science and Technical Services 101,160,500 GNF
Data Scientist Science and Technical Services 131,998,300 GNF
DNA Analyst Science and Technical Services 162,000,100 GNF
Ecologist Science and Technical Services 122,398,700 GNF
Flavourist Science and Technical Services 56,760,200 GNF
Food Scientist Science and Technical Services 111,480,700 GNF
Forensic Scientist Science and Technical Services 135,600,300 GNF
Formulation Technologist Science and Technical Services 63,360,300 GNF
Fraud Investigator Science and Technical Services 82,321,100 GNF
Genomics Scientist Science and Technical Services 175,200,500 GNF
Geographer Science and Technical Services 91,079,200 GNF
Geographic Information Systems Technician Science and Technical Services 57,719,800 GNF
Geological Data Technician Science and Technical Services 56,158,300 GNF
Geological Technician Science and Technical Services 72,361,800 GNF
Geologist Science and Technical Services 145,200,100 GNF
Geomatics Scientist Science and Technical Services 139,199,500 GNF
Geophysical Data Technician Science and Technical Services 52,201,800 GNF
Geospatial Information Scientist and Technologist Science and Technical Services 131,998,300 GNF
Global Technical Lead Science and Technical Services 165,599,600 GNF
Hydrologist Science and Technical Services 112,201,700 GNF
Industrial Ecologist Science and Technical Services 121,199,300 GNF
Intelligence Analyst Science and Technical Services 98,281,900 GNF
Knowledge Management Specialist Science and Technical Services 87,001,300 GNF
Lab Analyst Science and Technical Services 70,318,900 GNF
Lab Manager Science and Technical Services 122,398,700 GNF
Lab Technician Science and Technical Services 49,079,800 GNF
Laboratory Manager Science and Technical Services 111,961,900 GNF
Laboratory Researcher Science and Technical Services 80,398,400 GNF
Laboratory Technician Science and Technical Services 48,721,100 GNF
Life Sciences Analyst Science and Technical Services 116,279,200 GNF
Life Scientist Science and Technical Services 133,198,700 GNF
Marine Architect Science and Technical Services 101,160,500 GNF
Marine Biologist Science and Technical Services 115,799,700 GNF
Marine Superintendent Science and Technical Services 66,961,300 GNF
Materials Analyst Science and Technical Services 68,518,700 GNF
Materials Scientist Science and Technical Services 125,999,700 GNF
Mathematician Science and Technical Services 131,998,300 GNF
Medical Scientist Science and Technical Services 174,000,900 GNF
Metallurgist Science and Technical Services 118,198,900 GNF
Meteorologist Science and Technical Services 117,119,900 GNF
Microbiologist Science and Technical Services 170,399,900 GNF
Natural Language Processing Researcher Science and Technical Services 102,478,200 GNF
Natural Resource Specialist Science and Technical Services 92,400,700 GNF
Natural Resources Analyst Science and Technical Services 98,880,700 GNF
Natural Sciences Manager Science and Technical Services 167,999,600 GNF
Nuclear Engineer Science and Technical Services 172,800,900 GNF
Physical Scientist Science and Technical Services 140,401,100 GNF
Physicist Science and Technical Services 172,800,900 GNF
Political Scientist Science and Technical Services 129,601,700 GNF
Polygraph Examiner Science and Technical Services 45,361,500 GNF
Polysomnographic Technologist Science and Technical Services 76,921,100 GNF
Product Development Scientist Science and Technical Services 130,799,600 GNF
Quantitative Research Analyst Science and Technical Services 116,400,500 GNF
Quantitative Researcher Science and Technical Services 115,319,700 GNF
Radiation Protection Specialist Science and Technical Services 92,518,400 GNF
Refrigeration Technician Science and Technical Services 39,119,300 GNF
Research Scientist Science and Technical Services 116,521,600 GNF
Risk Safety Engineer Science and Technical Services 71,521,400 GNF
Scientific Photographer Science and Technical Services 75,360,300 GNF
Scientific Programmer Science and Technical Services 106,080,900 GNF
Scientist Science and Technical Services 115,080,900 GNF
Service Engineer Science and Technical Services 76,078,800 GNF
Service Technician Science and Technical Services 47,999,400 GNF
Social Science Research Assistant Science and Technical Services 69,479,600 GNF
Social Scientist Science and Technical Services 127,201,600 GNF
Sociologist Science and Technical Services 121,199,300 GNF
Soil Scientist Science and Technical Services 101,400,600 GNF
Statistical Analyst Science and Technical Services 73,558,300 GNF
Statistical Assistant Science and Technical Services 53,158,700 GNF
Statistician Science and Technical Services 121,199,300 GNF
Survey Analyst Science and Technical Services 74,279,700 GNF
Survey Researcher Science and Technical Services 68,518,700 GNF
Surveying and Mapping Technician Science and Technical Services 46,199,800 GNF
Team Leader Science and Technical Services 107,161,400 GNF
Technical Manager Science and Technical Services 119,881,200 GNF
Technical Officer Science and Technical Services 51,598,300 GNF
Technical Service Director Science and Technical Services 151,201,000 GNF
Technical Services Regulatory Affairs Specialist Science and Technical Services 75,479,500 GNF
Technical Services Research and Development Manager Science and Technical Services 181,199,700 GNF
Technical Services Research Associate Science and Technical Services 83,641,100 GNF
Technical Services Research Coordinator Science and Technical Services 84,840,200 GNF
Technician Science and Technical Services 49,318,100 GNF
Water Ecologist Science and Technical Services 146,401,200 GNF
Wildlife Biologist Science and Technical Services 116,279,200 GNF

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