Average Research Analyst Salary in Puerto Rico for 2024

In this article, we will look at the average Research Analyst salary for 2024 in Puerto Rico 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 Research Analyst Make in Puerto Rico?

A Research Analyst working in Puerto Rico will typically earn around 12,900 USD per year, and this can range from the lowest average salary of about 6,100 USD to the highest average salary of 22,100 USD.

Average Annual Salary
12,900 USD
Average Monthly Salary
1,075 USD

Lowest Annual Salary
6,100 USD
Lowest Monthly Salary
508 USD

Highest Annual Salary
22,100 USD
Highest Monthly Salary
1,841 USD

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

Research Analyst 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 Research Analyst Salaries in Puerto Rico

So we've looked at the average salaries a Research Analyst will earn in Puerto Rico. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Research Analyst can earn between 6,100 USD and 22,100 USD on average in Puerto Rico. 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 Research Analyst in Puerto Rico is 13,900 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 13,900 USD, and 50% of the population earn more than 13,900 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 Research Analyst salary in Puerto Rico, 25% of the population are earning less than 11,440 USD while 75% of the population earn more than 11,440 USD.

75% of the population earn less than 15,700 USD, and 25% of the population earn more than 15,700 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.

Research Analyst Salary by Experience Level in Puerto Rico

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 research analyst 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 Research Analyst in Puerto Rico that has less than two years of experience can expect to earn somewhere in the region of 10,200 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Research Analyst salary would increase to 12,800 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Research Analyst, the average salary would be 14,200 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 17,100 USD.
  • 15 - 20 Years Experience. A Research Analyst with 15 to 20 years of experience can earn an average of 22,000 USD.
  • 20+ Years Experience. For a Research Analyst with more than 20 years, the expected average salary increases to 21,100 USD.

Average Salary by Experience Chart

0-2 Years
10,200 USD
2-5 Years +26%
12,800 USD
5-10 Years +32%
14,200 USD
10-15 Years +18%
17,100 USD
15-20 Years +11%
22,000 USD
20+ Years +6%
21,100 USD

Research Analyst Salary by Education Level in Puerto Rico

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 Research Analyst in Puerto Rico 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 Research Analyst in Puerto Rico with a high school education can earn an average salary of 13,200 USD.

  • Certificate or Diploma. A Research Analyst in Puerto Rico with a certificate or diploma education can earn an average salary of 12,800 USD.

  • Bachelor's Degree. A Research Analyst in Puerto Rico with a bachelor's degree education can earn an average salary of 15,300 USD.

  • Master's Degree. A Research Analyst in Puerto Rico with a master's degree education can earn an average salary of 20,200 USD.

Average Salary by Education Chart

High School
13,200 USD
Certificate or Diploma +13%
12,800 USD
Bachelor's Degree +32%
15,300 USD
Master's Degree +24%
20,200 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 Puerto Rico is around 8,390 to 25,200 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.

Research Analyst 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 Puerto Rico, a male research analyst will earn an average of 15,400 USD, while a female research analyst will earn around 15,800 USD.

This means that a male research analyst earns approximately 3% less than a female research analyst for performing the same job.

Average Salary by Gender Chart in Puerto Rico

Male
15,400 USD
Female +3%
15,800 USD

Research Analyst Average Pay Raise in Puerto Rico

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 Research Analyst in Puerto Rico is around 6% every 29 months.

The national average pay raise across all professions and industries in Puerto Rico 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 = ( 6 ÷ 29 ) × 12  = 2%

What this means is that a Research Analyst in Puerto Rico can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Puerto Rico for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Research Analyst Bonus and Incentive Rates in Puerto Rico

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 Research Analyst is a low bonus based job, with 33% of employees reporting at least one bonus in the last 12 months.

67% 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
33%
No Bonus
67%

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 Puerto Rico earn approximately 23% more than private sector employees in the same role.

Public Sector
23,400 USD
Private Sector -23%
19,000 USD

Salaries for Jobs Similar to a Research Analyst

In the table below, we have salary information for jobs that are similar to a Research Analyst in Puerto Rico.

Job Title Category Salary
Acquisition Associate Real Estate 16,400 USD
Assistant Leasing Manager Real Estate 21,100 USD
Assistant Property Manager Real Estate 23,200 USD
Brokerage Real Estate 17,000 USD
Brokerage Clerk Real Estate 8,350 USD
Commercial Leasing Manager Real Estate 30,600 USD
Commercial Real Estate Manager Real Estate 35,000 USD
Community Development Manager Real Estate 29,100 USD
Compliance Specialist Real Estate 13,500 USD
Development Coordinator Real Estate 13,100 USD
Director of Real Estate Real Estate 38,100 USD
Lease Administrator Real Estate 21,200 USD
Leasing Agent Real Estate 15,700 USD
Leasing Consultant Real Estate 22,000 USD
Leasing Manager Real Estate 21,500 USD
Lettings Assistant Real Estate 6,580 USD
Portfolio Analyst Real Estate 27,300 USD
Portfolio Manager Real Estate 39,800 USD
Property Acquisition Agent Real Estate 12,400 USD
Property and Claims Specialist Real Estate 21,200 USD
Property Manager Real Estate 22,800 USD
Property Operations Manager Real Estate 33,800 USD
Property Tax Assistant Real Estate 16,800 USD
Real Estate Administrator Real Estate 16,300 USD
Real Estate Agent Real Estate 15,700 USD
Real Estate Analyst Real Estate 19,300 USD
Real Estate Appraiser Real Estate 16,900 USD
Real Estate Appraiser Real Estate 19,100 USD
Real Estate Appraiser Real Estate 19,200 USD
Real Estate Assistant Real Estate 16,400 USD
Real Estate Association Manager Real Estate 20,700 USD
Real Estate Broker Real Estate 15,400 USD
Real Estate General Manager Real Estate 31,400 USD
Real Estate Project Director Real Estate 31,400 USD
Real Estate Project Manager Real Estate 26,500 USD
Real Estate Sales Agent Real Estate 16,400 USD
Real Estate Valuer Real Estate 16,900 USD
Residential Advisor Real Estate 20,200 USD
Residential Property Manager Real Estate 23,500 USD
Shopping Center Manager Real Estate 35,000 USD
Town Planner Real Estate 31,700 USD

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