Average Retail Store Manager Salary in Cape Verde for 2024

In this article, we will look at the average Retail Store Manager salary for 2024 in Cape Verde 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 Cape Verdean escudo. To keep things simple, we are using the CVE currency code instead of the currency symbol Esc.

How Much Does a Retail Store Manager Make in Cape Verde?

A Retail Store Manager working in Cape Verde will typically earn around 3,035,200 CVE per year, and this can range from the lowest average salary of about 1,583,700 CVE to the highest average salary of 4,642,200 CVE.

Average Annual Salary
3,035,200 CVE
Average Monthly Salary
252,933 CVE

Lowest Annual Salary
1,583,700 CVE
Lowest Monthly Salary
131,975 CVE

Highest Annual Salary
4,642,200 CVE
Highest Monthly Salary
386,850 CVE

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

Retail Store 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 Retail Store Manager Salaries in Cape Verde

So we've looked at the average salaries a Retail Store Manager will earn in Cape Verde. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Retail Store Manager can earn between 1,583,700 CVE and 4,642,200 CVE on average in Cape Verde. 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 Retail Store Manager in Cape Verde is 2,914,600 CVE. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 2,914,600 CVE, and 50% of the population earn more than 2,914,600 CVE.

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 Retail Store Manager salary in Cape Verde, 25% of the population are earning less than 2,015,600 CVE while 75% of the population earn more than 2,015,600 CVE.

75% of the population earn less than 3,622,400 CVE, and 25% of the population earn more than 3,622,400 CVE.

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.

Retail Store Manager Salary by Experience Level in Cape Verde

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 retail store 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 Retail Store Manager in Cape Verde that has less than two years of experience can expect to earn somewhere in the region of 1,788,300 CVE.
  • 2 - 5 Years Experience. With two to five years of experience the average Retail Store Manager salary would increase to 2,401,300 CVE.
  • 5 - 10 Years Experience. From five to ten years of experience as a Retail Store Manager, the average salary would be 3,132,800 CVE.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 3,781,400 CVE.
  • 15 - 20 Years Experience. A Retail Store Manager with 15 to 20 years of experience can earn an average of 4,140,900 CVE.
  • 20+ Years Experience. For a Retail Store Manager with more than 20 years, the expected average salary increases to 4,355,800 CVE.

Average Salary by Experience Chart

0-2 Years
1,788,300 CVE
2-5 Years +34%
2,401,300 CVE
5-10 Years +30%
3,132,800 CVE
10-15 Years +21%
3,781,400 CVE
15-20 Years +9%
4,140,900 CVE
20+ Years +5%
4,355,800 CVE

Retail Store Manager Salary by Education Level in Cape Verde

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 Retail Store Manager in Cape Verde 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 Retail Store Manager in Cape Verde with a high school education can earn an average salary of 2,136,200 CVE.

  • Certificate or Diploma. A Retail Store Manager in Cape Verde with a certificate or diploma education can earn an average salary of 3,047,800 CVE.

  • Bachelor's Degree. A Retail Store Manager in Cape Verde with a bachelor's degree education can earn an average salary of 4,211,600 CVE.

Average Salary by Education Chart

High School
2,136,200 CVE
Certificate or Diploma +43%
3,047,800 CVE
Bachelor's Degree +38%
4,211,600 CVE

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 Cape Verde is around 1,020,000 to 3,060,000 CVE 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.

Retail Store 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 Cape Verde, a male retail store manager will earn an average of 3,205,100 CVE, while a female retail store manager will earn around 2,914,600 CVE.

This means that a male retail store manager earns approximately 10% more than a female retail store manager for performing the same job.

Average Salary by Gender Chart in Cape Verde

Male
3,205,100 CVE
Female -10%
2,914,600 CVE

Retail Store Manager Average Pay Raise in Cape Verde

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 Retail Store Manager in Cape Verde is around 7% every 29 months.

The national average pay raise across all professions and industries in Cape Verde 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 = ( 7 ÷ 29 ) × 12  = 3%

What this means is that a Retail Store Manager in Cape Verde can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Cape Verde for 2024

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

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

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

Retail Store Manager Bonus and Incentive Rates in Cape Verde

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 Retail Store Manager is a moderate bonus based job, with 61% of employees reporting at least one bonus in the last 12 months.

39% 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 6% to 8%.

Received Bonus
61%
No Bonus
39%

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 Cape Verde earn approximately 14% more than private sector employees in the same role.

Public Sector
2,653,700 CVE
Private Sector -14%
2,327,100 CVE

Salaries for Jobs Similar to a Retail Store Manager

In the table below, we have salary information for jobs that are similar to a Retail Store Manager in Cape Verde.

Job Title Category Salary
Account Manager Sales Retail and Wholesale 2,724,700 CVE
Account Officer Sales Retail and Wholesale 1,524,300 CVE
Area Manager Sales Retail and Wholesale 3,094,100 CVE
Area Sales Director Sales Retail and Wholesale 5,088,900 CVE
Area Sales Manager Sales Retail and Wholesale 4,211,600 CVE
Assisstant Store Supervisor Sales Retail and Wholesale 1,621,400 CVE
Assistant Department Manager Sales Retail and Wholesale 2,015,600 CVE
Assistant Retail Store Manager Sales Retail and Wholesale 2,161,200 CVE
Branch Manager Sales Retail and Wholesale 3,085,500 CVE
Branch Supervisor Sales Retail and Wholesale 2,519,500 CVE
Cashier Sales Retail and Wholesale 960,900 CVE
Cashier Manager Sales Retail and Wholesale 2,076,600 CVE
Commercial Sales Manager Sales Retail and Wholesale 3,959,700 CVE
Corporate Sales Manager Sales Retail and Wholesale 3,514,400 CVE
Depot Manager Sales Retail and Wholesale 2,773,700 CVE
Depot Supervisor Sales Retail and Wholesale 2,662,900 CVE
Deputy Sales Manager Sales Retail and Wholesale 2,773,700 CVE
Director of Sales Sales Retail and Wholesale 4,762,300 CVE
Distribution Director Sales Retail and Wholesale 3,421,600 CVE
District Leader Sales Retail and Wholesale 2,495,600 CVE
District Manager Sales Retail and Wholesale 3,061,300 CVE
District Sales Manager Sales Retail and Wholesale 2,964,800 CVE
External Sales Account Manager Sales Retail and Wholesale 2,807,200 CVE
Field Sales Representative Sales Retail and Wholesale 2,052,200 CVE
Furniture Sales Associate Sales Retail and Wholesale 1,417,600 CVE
Global Wholesale Manager Sales Retail and Wholesale 5,388,100 CVE
Head Cashier Sales Retail and Wholesale 1,990,300 CVE
Head of Direct Sales Sales Retail and Wholesale 3,601,500 CVE
Head of Retail Sales Retail and Wholesale 3,601,500 CVE
Head Teller Sales Retail and Wholesale 1,870,400 CVE
Inside Sales Sales Retail and Wholesale 1,476,700 CVE
Inside Sales Account Manager Sales Retail and Wholesale 2,314,800 CVE
Inside Sales Engineer Sales Retail and Wholesale 1,788,300 CVE
Inside Sales Executive Sales Retail and Wholesale 2,485,800 CVE
Inside Sales Representative Sales Retail and Wholesale 1,668,900 CVE
Internal Sales Manager Sales Retail and Wholesale 3,013,500 CVE
Inventory Manager Sales Retail and Wholesale 2,734,500 CVE
Key Account Manager Sales Retail and Wholesale 2,854,700 CVE
Medical Device Sales Sales Retail and Wholesale 2,352,500 CVE
Medical Device Sales Representative Sales Retail and Wholesale 2,221,600 CVE
Merchandiser Sales Retail and Wholesale 1,858,200 CVE
National Account Manager Sales Retail and Wholesale 3,718,600 CVE
National Customer Solution Specialist Sales Retail and Wholesale 3,323,300 CVE
National Sales Manager Sales Retail and Wholesale 5,305,100 CVE
Outside Sales Representative Sales Retail and Wholesale 2,003,200 CVE
Parts Salesperson Sales Retail and Wholesale 1,583,700 CVE
Project Development Manager Sales Retail and Wholesale 3,156,400 CVE
Project Manager Sales Retail and Wholesale 3,071,100 CVE
Project Sales Executive Sales Retail and Wholesale 3,061,300 CVE
Purchasing and Sales Executive Sales Retail and Wholesale 4,429,300 CVE
Quotation Engineer Sales Retail and Wholesale 1,655,500 CVE
Regional Sales Director Sales Retail and Wholesale 5,099,700 CVE
Regional Sales Manager Sales Retail and Wholesale 5,340,600 CVE
Relationship Manager Sales Retail and Wholesale 3,455,900 CVE
Retail Merchandiser Sales Retail and Wholesale 1,149,200 CVE
Retail Operations Manager Sales Retail and Wholesale 2,928,100 CVE
Retail Sales Associate Sales Retail and Wholesale 2,242,500 CVE
Retail Sales Representative Sales Retail and Wholesale 1,870,400 CVE
Retail Salesperson Sales Retail and Wholesale 1,583,700 CVE
Retail Store Sales Person Sales Retail and Wholesale 1,632,100 CVE
Revenue Manager Sales Retail and Wholesale 3,013,500 CVE
Sales Account Manager Sales Retail and Wholesale 3,444,200 CVE
Sales Admin Executive Sales Retail and Wholesale 3,769,500 CVE
Sales Administration Manager Sales Retail and Wholesale 3,601,500 CVE
Sales Analyst Sales Retail and Wholesale 2,941,000 CVE
Sales Assistant Sales Retail and Wholesale 1,130,200 CVE
Sales Associate Sales Retail and Wholesale 1,621,400 CVE
Sales Consultant Sales Retail and Wholesale 2,281,800 CVE
Sales Coordinator Sales Retail and Wholesale 1,716,600 CVE
Sales Development Representative Sales Retail and Wholesale 1,908,800 CVE
Sales Director Sales Retail and Wholesale 4,931,400 CVE
Sales Engineer Sales Retail and Wholesale 1,788,300 CVE
Sales Executive Sales Retail and Wholesale 2,976,900 CVE
Sales Manager Sales Retail and Wholesale 4,391,800 CVE
Sales Officer Sales Retail and Wholesale 1,594,500 CVE
Sales Planner Sales Retail and Wholesale 2,557,100 CVE
Sales Planning Analyst Sales Retail and Wholesale 2,782,600 CVE
Sales Representative Sales Retail and Wholesale 1,560,800 CVE
Sales Service Associate Sales Retail and Wholesale 1,500,800 CVE
Sales Specialist Sales Retail and Wholesale 2,290,300 CVE
Sales Supervisor Sales Retail and Wholesale 2,508,300 CVE
Sales Support Sales Retail and Wholesale 1,125,300 CVE
Sales Support Manager Sales Retail and Wholesale 2,629,100 CVE
Sales Team Leader Sales Retail and Wholesale 2,566,100 CVE
Sales Trainer Sales Retail and Wholesale 2,987,000 CVE
Securities Sales Agent Sales Retail and Wholesale 2,617,900 CVE
Shipper / Receiver Sales Retail and Wholesale 1,198,300 CVE
Shop Manager Sales Retail and Wholesale 2,759,700 CVE
Store Development Administrator Sales Retail and Wholesale 1,990,300 CVE
Store Manager Sales Retail and Wholesale 3,205,100 CVE
Territory Sales Manager Sales Retail and Wholesale 3,912,600 CVE
Territory Sales Representative Sales Retail and Wholesale 2,281,800 CVE
Trade Marketing Officer Sales Retail and Wholesale 2,807,200 CVE
Treasury Officer Sales Retail and Wholesale 2,543,000 CVE
Vice President Sales Sales Retail and Wholesale 3,925,200 CVE
Visual Merchandiser Sales Retail and Wholesale 1,380,400 CVE

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