Average Pharmaceutical Research Associate Salary in Bermuda for 2024

In this article, we will look at the average Pharmaceutical Research Associate salary for 2024 in Bermuda 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 Bermudian dollar. To keep things simple, we are using the BMD currency code instead of the currency symbol $.

How Much Does a Pharmaceutical Research Associate Make in Bermuda?

A Pharmaceutical Research Associate working in Bermuda will typically earn around 24,720 BMD per year, and this can range from the lowest average salary of about 12,120 BMD to the highest average salary of 42,040 BMD.

Average Annual Salary
24,720 BMD
Average Monthly Salary
2,060 BMD

Lowest Annual Salary
12,120 BMD
Lowest Monthly Salary
1,010 BMD

Highest Annual Salary
42,040 BMD
Highest Monthly Salary
3,503 BMD

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

Pharmaceutical Research Associate 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 Research Associate Salaries in Bermuda

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

Salary ranges

We already know that a Pharmaceutical Research Associate can earn between 12,120 BMD and 42,040 BMD on average in Bermuda. 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 Research Associate in Bermuda is 27,300 BMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 27,300 BMD, and 50% of the population earn more than 27,300 BMD.

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 Research Associate salary in Bermuda, 25% of the population are earning less than 16,140 BMD while 75% of the population earn more than 16,140 BMD.

75% of the population earn less than 34,480 BMD, and 25% of the population earn more than 34,480 BMD.

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.

Pharmaceutical Research Associate Salary by Experience Level in Bermuda

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 research associate 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 Research Associate in Bermuda that has less than two years of experience can expect to earn somewhere in the region of 13,100 BMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Pharmaceutical Research Associate salary would increase to 19,020 BMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Pharmaceutical Research Associate, the average salary would be 25,440 BMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 32,900 BMD.
  • 15 - 20 Years Experience. A Pharmaceutical Research Associate with 15 to 20 years of experience can earn an average of 37,200 BMD.
  • 20+ Years Experience. For a Pharmaceutical Research Associate with more than 20 years, the expected average salary increases to 36,700 BMD.

Average Salary by Experience Chart

0-2 Years
13,100 BMD
2-5 Years +29%
19,020 BMD
5-10 Years +38%
25,440 BMD
10-15 Years +24%
32,900 BMD
15-20 Years +7%
37,200 BMD
20+ Years +7%
36,700 BMD

Pharmaceutical Research Associate Salary by Education Level in Bermuda

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 Research Associate in Bermuda 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 Research Associate in Bermuda with a bachelor's degree education can earn an average salary of 17,740 BMD.

  • Master's Degree. A Pharmaceutical Research Associate in Bermuda with a master's degree education can earn an average salary of 32,020 BMD.

Average Salary by Education Chart

Bachelor's Degree
17,740 BMD
Master's Degree +61%
32,020 BMD

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 Bermuda is around 7,970 to 23,900 BMD 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.

Pharmaceutical Research Associate 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 Bermuda, a male pharmaceutical research associate will earn an average of 26,500 BMD, while a female pharmaceutical research associate will earn around 23,140 BMD.

This means that a male pharmaceutical research associate earns approximately 15% more than a female pharmaceutical research associate for performing the same job.

Average Salary by Gender Chart in Bermuda

Male
26,500 BMD
Female -15%
23,140 BMD

Pharmaceutical Research Associate Average Pay Raise in Bermuda

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 Research Associate in Bermuda is around 8% every 29 months.

The national average pay raise across all professions and industries in Bermuda is around 5% every 28 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 a Pharmaceutical Research Associate in Bermuda can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Bermuda for 2024

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

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

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Pharmaceutical Research Associate Bonus and Incentive Rates in Bermuda

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 Research Associate is a low bonus based job, with 39% of employees reporting at least one bonus in the last 12 months.

61% 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
39%
No Bonus
61%

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 Bermuda earn approximately 33% more than private sector employees in the same role.

Public Sector
21,540 BMD
Private Sector -33%
16,140 BMD

Salaries for Jobs Similar to a Pharmaceutical Research Associate

In the table below, we have salary information for jobs that are similar to a Pharmaceutical Research Associate in Bermuda.

Job Title Category Salary
Assistant Pharmacist Pharmaceutical and Biotechnology 17,620 BMD
Assistant Pharmacy Director Pharmaceutical and Biotechnology 31,080 BMD
Associate Medical Affairs Director Pharmaceutical and Biotechnology 42,320 BMD
Bioinformatics Scientist Pharmaceutical and Biotechnology 36,020 BMD
Bioinformatics Technician Pharmaceutical and Biotechnology 15,700 BMD
Biological Scientist Pharmaceutical and Biotechnology 42,320 BMD
Biological Technician Pharmaceutical and Biotechnology 19,640 BMD
Biomedical Engineer Pharmaceutical and Biotechnology 16,720 BMD
Biomedical Engineering Director Pharmaceutical and Biotechnology 34,980 BMD
Biostatistician Pharmaceutical and Biotechnology 25,680 BMD
Biotechnologist Pharmaceutical and Biotechnology 24,720 BMD
Biotechnology Lead Data Manager Pharmaceutical and Biotechnology 19,020 BMD
Chemical Process Technician Pharmaceutical and Biotechnology 19,220 BMD
Clinical Consultant Pharmaceutical and Biotechnology 23,360 BMD
Clinical Data Manager Pharmaceutical and Biotechnology 25,680 BMD
Clinical Data Specialist Pharmaceutical and Biotechnology 24,820 BMD
Clinical Informatics Specialist Pharmaceutical and Biotechnology 20,500 BMD
Clinical Operations Manager Pharmaceutical and Biotechnology 39,640 BMD
Clinical Pharmacist Pharmaceutical and Biotechnology 24,200 BMD
Clinical Pharmacy Specialist Pharmaceutical and Biotechnology 29,600 BMD
Clinical Programmer Pharmaceutical and Biotechnology 13,780 BMD
Clinical Project Manager Pharmaceutical and Biotechnology 24,820 BMD
Clinical Research Associate Pharmaceutical and Biotechnology 21,640 BMD
Clinical Research Manager Pharmaceutical and Biotechnology 36,800 BMD
Clinical Study Manager Pharmaceutical and Biotechnology 31,660 BMD
Compliance Specialist Pharmaceutical and Biotechnology 24,720 BMD
Cytology Laboratory Technologist Pharmaceutical and Biotechnology 19,860 BMD
Cytotechnologist Pharmaceutical and Biotechnology 21,540 BMD
GCP Auditor Pharmaceutical and Biotechnology 20,460 BMD
Hospital Pharmacy Technician Pharmaceutical and Biotechnology 18,940 BMD
Manufacturing Engineer Pharmaceutical and Biotechnology 20,460 BMD
Medical Affairs Director Pharmaceutical and Biotechnology 38,680 BMD
Medical Representative Pharmaceutical and Biotechnology 18,780 BMD
Medical Science Liaison Pharmaceutical and Biotechnology 28,680 BMD
Molecular and Cellular Biologist Pharmaceutical and Biotechnology 42,040 BMD
Nuclear Pharmacist Pharmaceutical and Biotechnology 23,360 BMD
Pharmaceutical Manager Pharmaceutical and Biotechnology 47,540 BMD
Pharmaceutical Manufacturing Lead Pharmaceutical and Biotechnology 42,960 BMD
Pharmaceutical Operations Excellence Manager Pharmaceutical and Biotechnology 43,360 BMD
Pharmaceutical Process Engineer Pharmaceutical and Biotechnology 22,400 BMD
Pharmaceutical Production Assistant Manager Pharmaceutical and Biotechnology 27,480 BMD
Pharmaceutical Project Manager Pharmaceutical and Biotechnology 28,180 BMD
Pharmaceutical Quality Auditor Pharmaceutical and Biotechnology 29,840 BMD
Pharmaceutical Regulatory Affairs Assistant Pharmaceutical and Biotechnology 21,020 BMD
Pharmaceutical Regulatory Affairs Manager Pharmaceutical and Biotechnology 27,480 BMD
Pharmaceutical Regulatory Affairs Specialist Pharmaceutical and Biotechnology 23,520 BMD
Pharmaceutical Representative Pharmaceutical and Biotechnology 16,140 BMD
Pharmaceutical Research Scientist Pharmaceutical and Biotechnology 38,680 BMD
Pharmaceutical Researcher Pharmaceutical and Biotechnology 36,020 BMD
Pharmaceutical Sales and Marketing Manager Pharmaceutical and Biotechnology 28,860 BMD
Pharmaceutical Sales Manager Pharmaceutical and Biotechnology 36,700 BMD
Pharmaceutical Sales Representative Pharmaceutical and Biotechnology 17,620 BMD
Pharmaceutical Supply Chain Manager Pharmaceutical and Biotechnology 38,340 BMD
Pharmaceutical Team Leader Pharmaceutical and Biotechnology 28,180 BMD
Pharmaceutical Technologist Pharmaceutical and Biotechnology 16,980 BMD
Pharmacist Pharmaceutical and Biotechnology 23,260 BMD
Pharmacy Aide Pharmaceutical and Biotechnology 17,540 BMD
Pharmacy Manager Pharmaceutical and Biotechnology 34,280 BMD
Pharmacy Stock Controller Pharmaceutical and Biotechnology 13,100 BMD
Pharmacy Technician Pharmaceutical and Biotechnology 17,020 BMD
Records Management Coordinator Pharmaceutical and Biotechnology 14,540 BMD
Shift Encapsulator Pharmaceutical and Biotechnology 14,920 BMD
Staff Pharmacist Pharmaceutical and Biotechnology 22,400 BMD

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