Average Quantitative Researcher Salary in Barbados for 2024

In this article, we will look at the average Quantitative Researcher salary for 2024 in Barbados 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 Barbadian dollar. To keep things simple, we are using the BBD currency code instead of the currency symbol $.

How Much Does a Quantitative Researcher Make in Barbados?

A Quantitative Researcher working in Barbados will typically earn around 52,300 BBD per year, and this can range from the lowest average salary of about 27,560 BBD to the highest average salary of 82,200 BBD.

Average Annual Salary
52,300 BBD
Average Monthly Salary
4,358 BBD

Lowest Annual Salary
27,560 BBD
Lowest Monthly Salary
2,296 BBD

Highest Annual Salary
82,200 BBD
Highest Monthly Salary
6,850 BBD

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

Quantitative 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 Quantitative Researcher Salaries in Barbados

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

Salary ranges

We already know that a Quantitative Researcher can earn between 27,560 BBD and 82,200 BBD on average in Barbados. 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 Quantitative Researcher in Barbados is 50,080 BBD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 50,080 BBD, and 50% of the population earn more than 50,080 BBD.

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 Quantitative Researcher salary in Barbados, 25% of the population are earning less than 34,120 BBD while 75% of the population earn more than 34,120 BBD.

75% of the population earn less than 59,660 BBD, and 25% of the population earn more than 59,660 BBD.

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.

Quantitative Researcher Salary by Experience Level in Barbados

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 quantitative 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 Quantitative Researcher in Barbados that has less than two years of experience can expect to earn somewhere in the region of 35,560 BBD.
  • 2 - 5 Years Experience. With two to five years of experience the average Quantitative Researcher salary would increase to 43,340 BBD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Quantitative Researcher, the average salary would be 58,200 BBD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 68,060 BBD.
  • 15 - 20 Years Experience. A Quantitative Researcher with 15 to 20 years of experience can earn an average of 75,040 BBD.
  • 20+ Years Experience. For a Quantitative Researcher with more than 20 years, the expected average salary increases to 77,340 BBD.

Average Salary by Experience Chart

0-2 Years
35,560 BBD
2-5 Years +26%
43,340 BBD
5-10 Years +32%
58,200 BBD
10-15 Years +18%
68,060 BBD
15-20 Years +11%
75,040 BBD
20+ Years +6%
77,340 BBD

Quantitative Researcher Salary by Education Level in Barbados

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 Quantitative Researcher in Barbados 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 Quantitative Researcher in Barbados with a bachelor's degree education can earn an average salary of 38,780 BBD.

  • Master's Degree. A Quantitative Researcher in Barbados with a master's degree education can earn an average salary of 53,160 BBD.

  • PhD. A Quantitative Researcher in Barbados with a phd education can earn an average salary of 78,500 BBD.

Average Salary by Education Chart

Bachelor's Degree
38,780 BBD
Master's Degree +33%
53,160 BBD
PhD +42%
78,500 BBD

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 Barbados is around 16,300 to 48,800 BBD 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.

Quantitative 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 Barbados, a male quantitative researcher will earn an average of 54,280 BBD, while a female quantitative researcher will earn around 51,340 BBD.

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

Average Salary by Gender Chart in Barbados

Male
54,280 BBD
Female -6%
51,340 BBD

Quantitative Researcher Average Pay Raise in Barbados

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 Quantitative Researcher in Barbados is around 8% every 29 months.

The national average pay raise across all professions and industries in Barbados 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 a Quantitative Researcher in Barbados can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Barbados for 2024

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

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%

Quantitative Researcher Bonus and Incentive Rates in Barbados

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 Quantitative Researcher is a low bonus based job, with 34% of employees reporting at least one bonus in the last 12 months.

66% 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 4% to 5%.

Received Bonus
34%
No Bonus
66%

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 Barbados earn approximately 8% more than private sector employees in the same role.

Public Sector
38,780 BBD
Private Sector -8%
36,020 BBD

Salaries for Jobs Similar to a Quantitative Researcher

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

Job Title Category Salary
3D Lab Technologist Science and Technical Services 37,800 BBD
Algorithm Developer Science and Technical Services 51,100 BBD
Analytical Chemist Science and Technical Services 73,980 BBD
Anthropologist Science and Technical Services 59,480 BBD
Archeologist Science and Technical Services 50,240 BBD
Assistant Breeder Science and Technical Services 27,300 BBD
Astronomer Science and Technical Services 86,520 BBD
Atmospheric and Space Scientist Science and Technical Services 74,620 BBD
Behavior Analyst Science and Technical Services 53,120 BBD
Behavior Intervention Specialist Science and Technical Services 53,860 BBD
Behavior Specialist Science and Technical Services 48,300 BBD
Biochemist Science and Technical Services 82,160 BBD
Biofuels Processing Technician Science and Technical Services 31,960 BBD
Biofuels Production Manager Science and Technical Services 55,820 BBD
Biologist Science and Technical Services 84,180 BBD
Biomedical Laboratory Officer Science and Technical Services 34,160 BBD
Biomedical Scientist Science and Technical Services 88,580 BBD
Biophysicist Science and Technical Services 84,560 BBD
Chemical Engineer Science and Technical Services 39,160 BBD
Chemical Technologist Science and Technical Services 35,420 BBD
Chemist Science and Technical Services 81,880 BBD
Chief Technologist Science and Technical Services 73,120 BBD
Climate Change Analyst Science and Technical Services 54,280 BBD
Clinical Laboratory Scientist Science and Technical Services 84,880 BBD
Computer Scientist Science and Technical Services 66,440 BBD
Conservation Scientist Science and Technical Services 68,360 BBD
Data Science Specialist Science and Technical Services 50,340 BBD
Data Scientist Science and Technical Services 61,680 BBD
DNA Analyst Science and Technical Services 83,400 BBD
Ecologist Science and Technical Services 64,720 BBD
Economic Development Specialist Science and Technical Services 64,920 BBD
Flavourist Science and Technical Services 25,720 BBD
Food Scientist Science and Technical Services 51,900 BBD
Forensic Scientist Science and Technical Services 67,800 BBD
Formulation Technologist Science and Technical Services 31,340 BBD
Fraud Investigator Science and Technical Services 37,800 BBD
Genomics Scientist Science and Technical Services 80,500 BBD
Geographer Science and Technical Services 43,760 BBD
Geographic Information Systems Technician Science and Technical Services 29,320 BBD
Geological Data Technician Science and Technical Services 28,180 BBD
Geological Technician Science and Technical Services 35,520 BBD
Geologist Science and Technical Services 66,440 BBD
Geomatics Scientist Science and Technical Services 66,020 BBD
Geophysical Data Technician Science and Technical Services 28,820 BBD
Geospatial Information Scientist and Technologist Science and Technical Services 66,580 BBD
Global Technical Lead Science and Technical Services 85,940 BBD
Hydrologist Science and Technical Services 57,800 BBD
Industrial Ecologist Science and Technical Services 57,320 BBD
Intelligence Analyst Science and Technical Services 48,560 BBD
Knowledge Management Specialist Science and Technical Services 43,340 BBD
Lab Analyst Science and Technical Services 34,360 BBD
Lab Manager Science and Technical Services 59,660 BBD
Lab Technician Science and Technical Services 23,260 BBD
Laboratory Manager Science and Technical Services 58,280 BBD
Laboratory Researcher Science and Technical Services 36,700 BBD
Laboratory Technician Science and Technical Services 25,680 BBD
Life Sciences Analyst Science and Technical Services 56,100 BBD
Life Scientist Science and Technical Services 64,180 BBD
Marine Architect Science and Technical Services 53,380 BBD
Marine Biologist Science and Technical Services 57,860 BBD
Marine Superintendent Science and Technical Services 34,360 BBD
Materials Analyst Science and Technical Services 34,960 BBD
Materials Scientist Science and Technical Services 61,580 BBD
Mathematician Science and Technical Services 67,300 BBD
Medical Scientist Science and Technical Services 89,980 BBD
Metallurgist Science and Technical Services 57,360 BBD
Meteorologist Science and Technical Services 57,440 BBD
Microbiologist Science and Technical Services 87,040 BBD
Natural Language Processing Researcher Science and Technical Services 55,940 BBD
Natural Resource Specialist Science and Technical Services 46,160 BBD
Natural Resources Analyst Science and Technical Services 52,460 BBD
Natural Sciences Manager Science and Technical Services 80,340 BBD
Nuclear Engineer Science and Technical Services 93,140 BBD
Physical Scientist Science and Technical Services 68,060 BBD
Physicist Science and Technical Services 86,520 BBD
Political Scientist Science and Technical Services 66,680 BBD
Polygraph Examiner Science and Technical Services 23,520 BBD
Polysomnographic Technologist Science and Technical Services 39,640 BBD
Product Development Scientist Science and Technical Services 66,840 BBD
Quantitative Research Analyst Science and Technical Services 60,480 BBD
Radiation Protection Specialist Science and Technical Services 44,540 BBD
Refrigeration Technician Science and Technical Services 19,160 BBD
Research Scientist Science and Technical Services 63,700 BBD
Risk Safety Engineer Science and Technical Services 38,260 BBD
Scientific Photographer Science and Technical Services 34,380 BBD
Scientific Programmer Science and Technical Services 50,560 BBD
Scientist Science and Technical Services 62,420 BBD
Service Engineer Science and Technical Services 39,960 BBD
Service Technician Science and Technical Services 23,260 BBD
Social Science Research Assistant Science and Technical Services 37,740 BBD
Social Scientist Science and Technical Services 62,420 BBD
Sociologist Science and Technical Services 60,340 BBD
Soil Scientist Science and Technical Services 53,600 BBD
Statistical Analyst Science and Technical Services 39,960 BBD
Statistical Assistant Science and Technical Services 27,040 BBD
Statistician Science and Technical Services 55,320 BBD
Survey Analyst Science and Technical Services 34,280 BBD
Survey Researcher Science and Technical Services 34,980 BBD
Surveying and Mapping Technician Science and Technical Services 22,660 BBD
Team Leader Science and Technical Services 52,300 BBD
Technical Manager Science and Technical Services 58,200 BBD
Technical Officer Science and Technical Services 24,200 BBD
Technical Service Director Science and Technical Services 80,580 BBD
Technical Services Regulatory Affairs Specialist Science and Technical Services 36,160 BBD
Technical Services Research and Development Manager Science and Technical Services 91,520 BBD
Technical Services Research Associate Science and Technical Services 39,560 BBD
Technical Services Research Coordinator Science and Technical Services 43,260 BBD
Technician Science and Technical Services 21,300 BBD
Water Ecologist Science and Technical Services 71,400 BBD
Wildlife Biologist Science and Technical Services 60,400 BBD

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