Average Product Researcher Salary in Bermuda for 2024

In this article, we will look at the average Product Researcher 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 Product Researcher Make in Bermuda?

A Product Researcher working in Bermuda will typically earn around 12,620 BMD per year, and this can range from the lowest average salary of about 8,440 BMD to the highest average salary of 23,520 BMD.

Average Annual Salary
12,620 BMD
Average Monthly Salary
1,051 BMD

Lowest Annual Salary
8,440 BMD
Lowest Monthly Salary
703 BMD

Highest Annual Salary
23,520 BMD
Highest Monthly Salary
1,960 BMD

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

Product Researcher 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 Product Researcher Salaries in Bermuda

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

Salary ranges

We already know that a Product Researcher can earn between 8,440 BMD and 23,520 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 Product Researcher in Bermuda is 13,560 BMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 13,560 BMD, and 50% of the population earn more than 13,560 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 Product Researcher salary in Bermuda, 25% of the population are earning less than 10,380 BMD while 75% of the population earn more than 10,380 BMD.

75% of the population earn less than 19,640 BMD, and 25% of the population earn more than 19,640 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.

Product Researcher 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 product researcher 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 Product Researcher in Bermuda that has less than two years of experience can expect to earn somewhere in the region of 6,440 BMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Product Researcher salary would increase to 12,020 BMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Product Researcher, the average salary would be 12,580 BMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 17,860 BMD.
  • 15 - 20 Years Experience. A Product Researcher with 15 to 20 years of experience can earn an average of 19,360 BMD.
  • 20+ Years Experience. For a Product Researcher with more than 20 years, the expected average salary increases to 19,380 BMD.

Average Salary by Experience Chart

0-2 Years
6,440 BMD
2-5 Years +29%
12,020 BMD
5-10 Years +38%
12,580 BMD
10-15 Years +24%
17,860 BMD
15-20 Years +7%
19,360 BMD
20+ Years +7%
19,380 BMD

Product Researcher 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 Product Researcher in Bermuda based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Product Researcher in Bermuda with a high school education can earn an average salary of 9,980 BMD.

  • Certificate or Diploma. A Product Researcher in Bermuda with a certificate or diploma education can earn an average salary of 12,520 BMD.

  • Bachelor's Degree. A Product Researcher in Bermuda with a bachelor's degree education can earn an average salary of 17,100 BMD.

  • Master's Degree. A Product Researcher in Bermuda with a master's degree education can earn an average salary of 19,860 BMD.

Average Salary by Education Chart

High School
9,980 BMD
Certificate or Diploma +15%
12,520 BMD
Bachelor's Degree +35%
17,100 BMD
Master's Degree +26%
19,860 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.

Product Researcher 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 product researcher will earn an average of 14,920 BMD, while a female product researcher will earn around 11,360 BMD.

This means that a male product researcher earns approximately 31% more than a female product researcher for performing the same job.

Average Salary by Gender Chart in Bermuda

Male
14,920 BMD
Female -31%
11,360 BMD

Product Researcher 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 Product Researcher in Bermuda is around 8% every 27 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 ÷ 27 ) × 12  = 4%

What this means is that a Product Researcher in Bermuda can expect to receive an average pay raise of around 4% 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%

Product Researcher 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 Product Researcher 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 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 Product Researcher

In the table below, we have salary information for jobs that are similar to a Product Researcher in Bermuda.

Job Title Category Salary
Account Handler Marketing 14,140 BMD
Affiliate Manager Marketing 21,100 BMD
Analytics Specialist Marketing 16,400 BMD
Assistant Brand Manager Marketing 19,940 BMD
Assistant Product Manager Marketing 23,660 BMD
Associate Marketing Manager Marketing 27,040 BMD
Associate Product Manager Marketing 22,400 BMD
Brand Ambassador Marketing 28,860 BMD
Brand Director Marketing 36,940 BMD
Brand Executive Marketing 31,960 BMD
Brand Manager Marketing 31,340 BMD
Business Analytics Specialist Marketing 14,140 BMD
Business Channel Manager Marketing 20,460 BMD
Business Intelligence Team Leader Marketing 24,280 BMD
Campaign Specialist Marketing 21,100 BMD
Chief Marketing Officer Marketing 35,340 BMD
Chief Product Officer Marketing 32,960 BMD
Communications Officer Marketing 9,740 BMD
Content Manager Marketing 17,740 BMD
Content Marketing Strategist Marketing 19,160 BMD
Copy Editer Marketing 14,540 BMD
Copy Writer Marketing 10,980 BMD
Creative Marketing Lead Marketing 21,020 BMD
Creative Writer Marketing 14,540 BMD
Digital Marketer Marketing 19,860 BMD
Digital Marketing Manager Marketing 25,940 BMD
Digital Marketing Strategist Marketing 26,080 BMD
Digital Media Specialist Marketing 24,840 BMD
Director of Marketing Marketing 36,020 BMD
Director of Research Marketing 25,660 BMD
eMarketing Manager Marketing 26,780 BMD
Event Marketing Marketing 25,940 BMD
Head of Executive Search Marketing 30,800 BMD
Key Affiliate Manager Marketing 23,700 BMD
Localization Manager Marketing 26,020 BMD
Market Development Executive Marketing 29,040 BMD
Market Development Manager Marketing 27,620 BMD
Market Research Analyst Marketing 22,660 BMD
Market Research Manager Marketing 27,380 BMD
Market Segmentation Director Marketing 27,020 BMD
Marketing Account Supervisor Marketing 21,540 BMD
Marketing Administrator Marketing 15,700 BMD
Marketing Advisor Marketing 19,020 BMD
Marketing Analyst Marketing 21,540 BMD
Marketing and Communications Officer Marketing 13,660 BMD
Marketing and Sales Head Marketing 33,520 BMD
Marketing Assistant Marketing 10,080 BMD
Marketing Associate Marketing 8,880 BMD
Marketing Communications Manager Marketing 24,820 BMD
Marketing Consultant Marketing 26,080 BMD
Marketing Coordinator Marketing 10,220 BMD
Marketing Director Marketing 34,980 BMD
Marketing Distribution Executive Marketing 25,160 BMD
Marketing Executive Marketing 28,900 BMD
Marketing Manager Marketing 36,160 BMD
Marketing Officer Marketing 10,000 BMD
Marketing Segment Manager Marketing 23,080 BMD
Marketing Specialist Marketing 16,140 BMD
Marketing Supervisor Marketing 20,940 BMD
Marketing Vice President Marketing 29,840 BMD
Marketing Writer Marketing 14,620 BMD
Online Marketing Analyst Marketing 19,020 BMD
Online Marketing Manager Marketing 23,080 BMD
Optimization Manager Marketing 22,660 BMD
Outbound Sales Marketing 16,400 BMD
Outreach Coordinator Marketing 12,580 BMD
Outreach Specialist Marketing 19,360 BMD
Product Development Marketing 24,820 BMD
Product Manager Marketing 28,820 BMD
Product Marketing Engineer Marketing 17,260 BMD
Product Marketing Executive Marketing 23,260 BMD
Product Marketing Manager Marketing 27,040 BMD
Product Strategist Marketing 19,980 BMD
Product Strategy Researcher Marketing 20,120 BMD
Product Training Specialist Marketing 18,260 BMD
Project Manager Marketing 19,380 BMD
Publications Coordinator Marketing 13,660 BMD
Research Executive Marketing 23,260 BMD
Sales and Marketing Assistant Marketing 9,740 BMD
Sales and Marketing Coordinator Marketing 11,040 BMD
Sales and Marketing Director Marketing 35,300 BMD
Sales Director Marketing 33,440 BMD
Sales Management Support Marketing 10,980 BMD
Sales Manager Marketing 34,980 BMD
Search Marketing Strategist Marketing 30,840 BMD
Social Media Administrator Marketing 19,220 BMD
Social Media Specialist Marketing 18,280 BMD
Spaceman Analyst Marketing 9,980 BMD
Sponsorship Consultant Marketing 19,200 BMD
Team Leader Marketing 20,500 BMD
Telemarketer Marketing 11,300 BMD
Trade Marketing Executive Marketing 26,780 BMD
Trade Marketing Manager Marketing 25,160 BMD
Trade Marketing Professional Marketing 21,020 BMD
Trade Marketing Specialist Marketing 15,760 BMD
Web Analytics Manager Marketing 21,400 BMD
Web Content Manager Marketing 21,560 BMD

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