Average Pharmaceutical Manager Salary in Colombia for 2024

In this article, we will look at the average Pharmaceutical Manager salary for 2024 in Colombia 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 Colombian peso. To keep things simple, we are using the COP currency code instead of the currency symbol $.

How Much Does a Pharmaceutical Manager Make in Colombia?

A Pharmaceutical Manager working in Colombia will typically earn around 124,799,100 COP per year, and this can range from the lowest average salary of about 62,279,800 COP to the highest average salary of 193,201,900 COP.

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

Pharmaceutical 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 Pharmaceutical Manager Salaries in Colombia

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

Salary ranges

We already know that a Pharmaceutical Manager can earn between 62,279,800 COP and 193,201,900 COP on average in Colombia. 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 Pharmaceutical Manager in Colombia is 124,799,100 COP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 124,799,100 COP, and 50% of the population earn more than 124,799,100 COP.

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 Pharmaceutical Manager salary in Colombia, 25% of the population are earning less than 84,001,900 COP while 75% of the population earn more than 84,001,900 COP.

75% of the population earn less than 158,398,200 COP, and 25% of the population earn more than 158,398,200 COP.

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.

Pharmaceutical Manager Salary by Experience Level in Colombia

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 pharmaceutical 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 Pharmaceutical Manager in Colombia that has less than two years of experience can expect to earn somewhere in the region of 74,639,200 COP.
• 2 - 5 Years Experience. With two to five years of experience the average Pharmaceutical Manager salary would increase to 98,880,700 COP.
• 5 - 10 Years Experience. From five to ten years of experience as a Pharmaceutical Manager, the average salary would be 131,998,300 COP.
• 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 157,201,600 COP.
• 15 - 20 Years Experience. A Pharmaceutical Manager with 15 to 20 years of experience can earn an average of 170,399,900 COP.
• 20+ Years Experience. For a Pharmaceutical Manager with more than 20 years, the expected average salary increases to 182,401,400 COP.

Average Salary by Experience Chart

Pharmaceutical Manager Salary by Education Level in Colombia

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 Pharmaceutical Manager in Colombia 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 Pharmaceutical Manager in Colombia with a bachelor's degree education can earn an average salary of 96,240,700 COP.

• Master's Degree. A Pharmaceutical Manager in Colombia with a master's degree education can earn an average salary of 133,198,700 COP.

• PhD. A Pharmaceutical Manager in Colombia with a phd education can earn an average salary of 175,200,500 COP.

Average Salary by Education Chart

Pharmaceutical 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 Colombia, a male pharmaceutical manager will earn an average of 127,201,600 COP, while a female pharmaceutical manager will earn around 119,998,200 COP.

This means that a male pharmaceutical manager earns approximately 6% more than a female pharmaceutical manager for performing the same job.

Average Salary by Gender Chart in Colombia

Pharmaceutical Manager Average Pay Raise in Colombia

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 Pharmaceutical Manager in Colombia is around 11% every 21 months.

The national average pay raise across all professions and industries in Colombia is around 7% every 19 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 = ( 11 ÷ 21 ) × 12  = 6%

What this means is that a Pharmaceutical Manager in Colombia can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Colombia for 2024

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

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

Pharmaceutical Manager Bonus and Incentive Rates in Colombia

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 Pharmaceutical Manager is a high bonus based job, with 80% of employees reporting at least one bonus in the last 12 months.

20% 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 8%.

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

Salaries for Jobs Similar to a Pharmaceutical Manager

In the table below, we have salary information for jobs that are similar to a Pharmaceutical Manager in Colombia.

Salary Comparison by City

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

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