Average Patent Attorney Salary in Turks and Caicos Islands for 2024

In this article, we will look at the average Patent Attorney salary for 2024 in Turks and Caicos Islands 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 United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does a Patent Attorney Make in Turks and Caicos Islands?

A Patent Attorney working in Turks and Caicos Islands will typically earn around 26,080 USD per year, and this can range from the lowest average salary of about 13,060 USD to the highest average salary of 42,320 USD.

Average Annual Salary
26,080 USD
Average Monthly Salary
2,173 USD

Lowest Annual Salary
13,060 USD
Lowest Monthly Salary
1,088 USD

Highest Annual Salary
42,320 USD
Highest Monthly Salary
3,526 USD

These are average salaries for a Patent Attorney in Turks and Caicos Islands and include benefits such as housing and transport. It's also possible for a Patent Attorney to earn more or less than the average salaries shown above.

Patent Attorney 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 Patent Attorney Salaries in Turks and Caicos Islands

So we've looked at the average salaries a Patent Attorney will earn in Turks and Caicos Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Patent Attorney can earn between 13,060 USD and 42,320 USD on average in Turks and Caicos Islands. 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 Patent Attorney in Turks and Caicos Islands is 29,540 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 29,540 USD, and 50% of the population earn more than 29,540 USD.

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 Patent Attorney salary in Turks and Caicos Islands, 25% of the population are earning less than 19,220 USD while 75% of the population earn more than 19,220 USD.

75% of the population earn less than 38,140 USD, and 25% of the population earn more than 38,140 USD.

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.

Patent Attorney Salary by Experience Level in Turks and Caicos Islands

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 patent attorney 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 Patent Attorney in Turks and Caicos Islands that has less than two years of experience can expect to earn somewhere in the region of 12,580 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Patent Attorney salary would increase to 19,480 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Patent Attorney, the average salary would be 28,660 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 34,480 USD.
  • 15 - 20 Years Experience. A Patent Attorney with 15 to 20 years of experience can earn an average of 35,000 USD.
  • 20+ Years Experience. For a Patent Attorney with more than 20 years, the expected average salary increases to 40,240 USD.

Average Salary by Experience Chart

0-2 Years
12,580 USD
2-5 Years +38%
19,480 USD
5-10 Years +42%
28,660 USD
10-15 Years +22%
34,480 USD
15-20 Years +6%
35,000 USD
20+ Years +9%
40,240 USD

Patent Attorney Salary by Education Level in Turks and Caicos Islands

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 Patent Attorney in Turks and Caicos Islands 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. A Patent Attorney in Turks and Caicos Islands with a bachelor's degree education can earn an average salary of 19,640 USD.

  • Master's Degree. A Patent Attorney in Turks and Caicos Islands with a master's degree education can earn an average salary of 26,400 USD.

  • PhD. A Patent Attorney in Turks and Caicos Islands with a phd education can earn an average salary of 37,740 USD.

Average Salary by Education Chart

Bachelor's Degree
19,640 USD
Master's Degree +54%
26,400 USD
PhD +33%
37,740 USD

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 Turks and Caicos Islands is around 7,430 to 22,300 USD 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.

Patent Attorney 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 Turks and Caicos Islands, a male patent attorney will earn an average of 26,400 USD, while a female patent attorney will earn around 25,940 USD.

This means that a male patent attorney earns approximately 2% more than a female patent attorney for performing the same job.

Average Salary by Gender Chart in Turks and Caicos Islands

Male
26,400 USD
Female -2%
25,940 USD

Patent Attorney Average Pay Raise in Turks and Caicos Islands

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 Patent Attorney in Turks and Caicos Islands is around 7% every 29 months.

The national average pay raise across all professions and industries in Turks and Caicos Islands 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 = ( 7 ÷ 29 ) × 12  = 3%

What this means is that a Patent Attorney in Turks and Caicos Islands can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Turks and Caicos Islands for 2024

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

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%

Patent Attorney Bonus and Incentive Rates in Turks and Caicos Islands

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 Patent Attorney is a low bonus based job, with 41% of employees reporting at least one bonus in the last 12 months.

59% 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 2% to 7%.

Received Bonus
41%
No Bonus
59%

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 Turks and Caicos Islands earn approximately 3% less than private sector employees in the same role.

Public Sector
18,280 USD
Private Sector +3%
18,780 USD

Salaries for Jobs Similar to a Patent Attorney

In the table below, we have salary information for jobs that are similar to a Patent Attorney in Turks and Caicos Islands.

Job Title Category Salary
Administrative Law Judge Legal 51,080 USD
Arbitrator Legal 20,000 USD
Associate Attorney Legal 21,300 USD
Attorney Legal 36,700 USD
Bailiff Legal 8,880 USD
Barrister Legal 9,440 USD
Candidate Attorney Legal 21,020 USD
Conciliator Legal 18,780 USD
Contracts Associate Legal 12,200 USD
Contracts Manager Legal 21,020 USD
Contracts Negotiator Legal 16,720 USD
Contracts Specialist Legal 12,760 USD
Conveyancing Secretary Legal 8,560 USD
Corporate Counsel Legal 27,020 USD
Counsel Legal 25,440 USD
Court Clerk Legal 10,100 USD
Court Judicial Assistant Legal 11,360 USD
Court Liaison Specialist Legal 15,580 USD
Court Reporter Legal 12,620 USD
Court Representative Legal 10,220 USD
Crown Prosecution Service Lawyer Legal 45,600 USD
General Counsel Legal 46,840 USD
Immigration Executive Legal 22,340 USD
In House Counsel Legal 23,360 USD
Intellectual Property Specialist Legal 16,340 USD
Judge Advocate Legal 38,700 USD
Law Clerk Legal 6,440 USD
Lawyer Legal 34,380 USD
Legal Administrative Assistant Legal 7,820 USD
Legal Advisor Legal 20,000 USD
Legal Assistant Legal 9,440 USD
Legal Associate Legal 17,620 USD
Legal Consultant Legal 22,540 USD
Legal Consultant Legal 23,380 USD
Legal Counsel Legal 23,360 USD
Legal Editor Legal 15,920 USD
Legal Executive Legal 31,380 USD
Legal Executive Secretary Legal 7,820 USD
Legal IP Officer Legal 7,800 USD
Legal Officer Legal 9,740 USD
Legal Secretary Legal 11,300 USD
Legal Services Director Legal 38,780 USD
Legal Services Manager Legal 37,880 USD
Legal Support Worker Legal 6,080 USD
Legislative Liaison Legal 18,780 USD
Litigation Attorney Legal 45,560 USD
Litigation Paralegal Legal 20,760 USD
Magistrate Judge Legal 57,080 USD
Paralegal Legal 13,960 USD
Staff Attorney Legal 30,840 USD

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