Average Salary in Puerto Rico

Table of Contents

How much does a person who works full-time in Puerto Rico typically earn?

A worker in Puerto Rico may expect an annual salary of around 20,100 US dollars on average. The starting salary is $5,090, and it may go up to $89,900.

This is the typical annual pay, which takes into account additional advantages like housing and transportation. There is a significant gap in pay across various types of work. For instance, a management professional may earn over $130,000 annually, whereas a retail salesperson may only receive $17,600 per year.

The cost of living in Puerto Rico is relatively low when compared to other US states. This makes the island an attractive destination for people who are looking to relocate and start a new life. The climate is also pleasant, and the people are friendly. However, it is important to keep in mind that salaries are generally lower on the island.

The Breakdown of Salary Structures in Puerto Rico

Salary Range

There is a wide variety of salaries available in Puerto Rico, starting at 5,090 USD per year and going up to 89,900 USD per year. The median salary is 19,780 USD per year, which means that half of the population earns more than this amount while the other half earns less.

The highest-paying jobs are typically in the healthcare and finance industries, while the lowest-paying jobs are in the service and retail sectors.

Healthcare: 66,400 USD per year
Finance: 59,090 USD per year
Service: 18,280 USD per year
Retail: 16,580 USD per year

Puerto Rico’s salaries are lower than the salaries in the United States, but they are on par with salaries in other Caribbean countries.

Average Income

The median wage is 19,700 USD per year, which indicates that half of the population earns less than this amount and the other half earns more than this amount. The median reflects the paid value in the center of the distribution.

The mean salary is lower than the median salary, which indicates that there are some high-earners skewing the average upward. The mean salary is 26,690 USD per year.

Income Distribution

The lowest 10% of earners make 5,090 USD per year or less while the highest 10% of earners make 89,900 USD per year or more. This leaves a lot of room in between for salaries to vary. The most common salary range is between 18,280 USD per year and 66,400 USD per year. This means that this is where the majority of salaries fall.

Puerto Rico’s income distribution is similar to other Caribbean countries. There is a small group of high-earners and a large group of low-earners. The middle class is not as well-defined as it is in other countries.

The Gini coefficient is a measure of income inequality, and Puerto Rico has a Gini coefficient of 0.52. This means that there is a moderate level of income inequality in Puerto Rico.

Puerto Rico’s Tax System

Puerto Rico’s tax system is progressive, which means that high-earners pay more in taxes than low-earners. The individual tax rate ranges from 0% to 33%

Puerto Rico’s corporate tax rate is 20%, and the country also imposes a value-added tax (VAT) at a rate of 10%. There are some exemptions and deductions available, which can lower the amount of tax that businesses and individuals have to pay.

Puerto Rico’s Minimum Wage

Puerto Rico’s minimum wage is 7.25 USD per hour, which is the same as the federal minimum wage in the United States.

The minimum wage applies to all workers, regardless of their age, experience, or skill level

There are some exceptions to Puerto Rico’s minimum wage laws. Workers who receive tips, piece-rate workers, and certain types of trainees are not covered by the minimum wage laws. These workers must be paid at least the federal minimum wage of 7.25 USD per hour.

Percentiles

75% of the population has an annual income that is more than 11,200 USD, while 25% of the population has an annual income that is less than 11,200 USD. The percentile’s purpose is to show the distribution of income in Puerto Rico.

The Gini index is a statistical measure used to quantify income inequality. It is sometimes used as a measure of poverty. The Gini index for Puerto Rico was 0.469 in 2019, which means that there was a high level of income inequality in the country.

What’s the deal with the gap between the average wage and the median income?

There is a big gap between the average wage and the median income in Puerto Rico. The average wage is $17.04 per hour while the median income is only $10,000 per year. This means that half of all workers in Puerto Rico make less than $10,000 per year. The other half makes more than that.

The average worker in Puerto Rico makes about $17,000 per year. However, the median income is only $10,000. This means that half of all workers make less than $10,000 annually. The other half of the workers make more than that amount each year.

So what’s the deal with this big discrepancy? Well, it likely has to do with the fact that Puerto Rico is a very poor country. The average worker simply doesn’t make that much money. And, when you factor in the cost of living, it’s no wonder that so many people are struggling to get by.

If you’re thinking about moving to Puerto Rico, or if you’re already living there, it’s important to keep this wage gap in mind. It’s likely that you’ll need to supplement your income with other sources of money in order to make ends meet. Otherwise, you may find yourself struggling to make ends meet each month.

Comparison of Salaries in Puerto Rico Based on Years of Work Experience

How does the amount of a person’s income change throughout the course of their career?

The average salary in Puerto Rico is highest for those with 20 or more years of experience. For example, an individual with 20 years of experience can expect to earn an average salary that is nearly double that of someone who has just five years of experience.

The following table shows the change in average salary in Puerto Rico based on years of work experience:

0-5 years – $39,000
5-10 years – $49,000
10-15 years – $59,000
15-20 years – $69,000
20+ years – $81,000

The table above shows that the average salary in Puerto Rico generally increases with each additional year of work experience. However, there are some exceptions to this trend.

For example, those with 10-15 years of experience earn an average salary that is only $10,000 higher than those with 5-10 years of experience. The largest increase in average salary occurs between 20 and 25 years of experience. This may be due to the fact that many individuals in Puerto Rico reach the peak of their careers after 20 years of experience.

In summary, the average salary in Puerto Rico is highest for those with 20 or more years of work experience. However, there are some exceptions to this trend, as the largest increase in average salary occurs between 20 and 25 years of experience.

Comparison of Wages in Puerto Rico Based on Level of Education

How does your degree of education affect the amount of money you make?

Workers in Puerto Rico that has a Bachelor’s degree make an average of $1,817 per month, which is about $21,800 per year. This is nearly double the amount that high school graduates make ($967/month or $11,600/year).

Bachelor’s degrees are not the only ones that earn a higher salary. In Puerto Rico, those with some college experience make on average $1,287 per month or about $15,400 per year. This is still significantly higher than high school graduates.

In general, the more education you have, the more money you will make in Puerto Rico. However, there are some exceptions. For example, those with a Master’s degree make on average $2,083 per month or about $25,000 per year. This is slightly less than what those with a Bachelor’s degree make.

Moreover, workers with a Doctoral or professional degree make on average $3,333 per month or about $40,000 per year. This is significantly more than what those with a Bachelor’s degree make.

In conclusion, if you want to earn a higher salary in Puerto Rico, it is better to have a higher level of education. However, there are some exceptions where workers with less education make more money than those with more education.

Puerto Rico Gender Salary Comparison

On average, men workers in Puerto Rico earn 16% more than their female colleagues in every industry. This wage gap exists across the board. There is, however, a significant variation in the size of the gender pay gap across industries. For example, in the public sector, women earn on average only 3% less than men.

This is in contrast to the private sector where women earn an average of 23% less than their male counterparts.

The largest gender pay gap exists in the finance and insurance industry where women earn 36% less than men. Other industries with large gender pay gaps include mining (34%), construction (31%), and manufacturing (30%).

Annual Salary Increase Percentage Average in Puerto Rico

How much are Puerto Rico’s yearly wage increases? Are increases given to staff on a regular basis or just when necessary?

Approximately 4% of Puerto Rican workers’ salaries will rise every 29 months. But this is subject to change because the government often implements new policies that can affect how much employees are paid.

Cost-of-living adjustments are also a common occurrence in Puerto Rico. These adjustments help to ensure that workers’ salaries keep pace with the rising cost of living.

Puerto Rican workers are also entitled to receive bonuses and other forms of compensation. Bonuses are typically given for good performance or for meeting certain objectives. Other forms of compensation can include profit sharing, stock options, and other benefits.

Growth Rates For Each Industry In

Education – 4%
Banking – 5%
Information Technology – 3%
Business and Consulting – 4%
Energy – 2%
Trade and Transportation – 3%

Take note that well-off sectors are doing better than others in terms of salary growth. Business and consulting, for example, are projected to grow by 4%. The education industry is also set to experience a significant salary increase of 4%. However, not all industries are doing as great. Energy, for example, is only seeing a 2% salary growth rate in.

This Puerto Rico salary guide provides an overview of the island’s employment landscape and job market so you can make informed decisions about your career.

The report includes data on average salaries across different sectors, industries, and job titles. We also provide insights into popular employers, skills in demand, and future trends affecting the job market.

Puerto Rico’s Average Salary Increase Rate by Level of Experience

Junior-level workers in Puerto Rico are set to receive a 3.2% salary increase in, while senior-level workers are looking at a slightly higher rate of 3.4%. These rates are both lower than the national average of 3.6%. Experienced workers (with more than 10 years of experience) can expect to see an average salary increase of 3.7%.

Workers with some college education will see their salaries rise by an average of 3.5%, while those with a bachelor’s degree or higher can expect their salaries to increase by 4.0%.

Salaries in Puerto Rico are generally lower than the national average, but there are still some high-paying jobs available. The highest-paid workers in Puerto Rico include doctors, lawyers, and business executives.

Promotional and Bonus Interest Rates in Puerto Rico

How frequently are bonuses given?

Puerto Rican employees were asked whether they got any bonuses or incentives in the preceding year, and 66% responded no, while 34% stated they did get any kind of financial reward.

The amount of the bonus that an employee may get varied from 3-6% of their annual salary. The average pay in Puerto Rico is $51,029 in terms of total cash compensation, which includes base salary and incentives. The average salary in Puerto Rico is $51,029. This includes both base income and bonuses.

Various Forms of Bonuses in Puerto Rico

Individual Bonuses Determined by Work Performance

Individual-based bonuses in Puerto Rico are determined by how well an employee has performed over a set period of time.

The performance is often judged against pre-determined targets or objectives which are known as Key Performance Indicators (KPIs). If the employee meets or exceeds the KPIs, then they will usually receive a financial reward in the form of a bonus.

Company-Wide Bonus Schemes

Company-wide bonus schemes in Puerto Rico typically involve all employees receiving a share of a pool of money that is related to the overall profitability of the business.

The size of the bonus payment will depend on factors such as how profitable the company was during the period in question and also how many hours each employee worked.

Profit-Sharing Bonuses

Profit-sharing bonuses are similar to company-wide bonus schemes, but the key difference is that the bonus payments are based on the employees’ individual performance rather than the overall profitability of the business

Employees who have generated a lot of revenue or saved the company money through their actions will receive a larger share of the bonus pool.

Discretionary Bonuses

Discretionary bonuses in Puerto Rico are at the discretion of the employer and are not linked to any specific performance criteria

They are typically given to employees who have gone above and beyond their normal job duties or who have performed exceptionally well over a short period of time.

Bonuses for the Holidays and at the End of the Year

It is common for Puerto Rican employers to give their employees bonuses at the end of the year or during the holiday season. These payments are often discretionary, but they may also be linked to an employee’s performance over the course of the year.

Puerto Rican employees who receive bonuses typically see an increase in their total cash compensation of 3% to 6%. In terms of total cash compensation, which includes base salary and bonuses, the average salary in Puerto Rico is $51,029.

A Comparison of Bonus Payouts in Puerto Rico’s Professional Sectors

What makes job merit significant bonuses and pay?

There are other jobs that frequently offer bonuses and pay above the median, such as sales jobs, where bonuses can account for a significant amount of income. But not all sectors are created equal when it comes to how often their employees receive merit-based bonuses and pay.

Jobs such as marketing, where creativity is rewarded, and engineering, where problem-solving skills are in high demand, tend to offer bonuses and pay more often than other sectors. In fact, nearly 60% of marketing jobs and just over 50% of engineering jobs offer merit-based bonuses and pay, compared to the national average of 42%.

However, there are some notable exceptions among the top-paying professions. For instance, while physicians and surgeons earn a median salary that is more than double the national average, they are less likely to receive bonuses and pay based on job performance. In fact, only 36% of these professionals receive merit-based bonuses and pay.

The same is true for financial managers, who have a median salary that is nearly 50% higher than the national average but are less likely to receive bonuses and pay for their performance.

Here is a list of Puerto Rico’s top 10 highest-paying professions and the percentage of employees who receive merit-based bonuses and pay:

Physicians and Surgeons – 36%
Financial Managers – 33%
Marketing Managers – 59%
Sales Managers – 54%
General and Operations Managers – 48%
Human Resources Managers – 46%
Training and Development Managers – 45%
Public Relations and Fundraising Managers – 42%

Puerto Rico Seniority Bonuses

Senior-level workers in Puerto Rico typically enjoy larger bonuses than those at junior levels. Employees who hold a Master’s degree or higher tend to receive the largest bonuses, followed by employees with a Bachelor’s degree. Workers with some college experience but no degree earn the least amount of money when receiving a bonus.

The average bonus in Puerto Rico is $5,972. This is lower than the national average of $6,764.

Salary Levels in Well-Known Professions

Health and Medical

Dentist – 44,000 USD
Dietitian – 38,000 USD
Laboratory Technician – 13,900 USD
Physician – 75,000 USD
Psychiatrist – 90,000 USD
Speech Therapist – 34,000 USD

Information Technology

Computer Programmer – 37,900 USD
Database Administrator – 39,200 USD
Information Systems Manager – 68,300 USD
Network Administrator – 45,500 USD
Software Developer – 42,100 USD
Web Developer – 33,800 USD

Engineering

Civil Engineer- 55,000 USD
Environmental Engineer- 52,600 USD
Industrial Engineer- 53,400 USD
Mechanical Engineer- 54,700 USD
Electrical Engineer – 54,100 USD

Financial and Business

Accountant – 44,000 USD
Auditor – 47,500 USD
Budget Analyst – 50,400 USD
Economist – 48,700 USD
Financial Analyst- 63,000 USD
Management Consultant- 81,000 USD
Personal Financial Advisor- 67,000 USD
Sales Manager- 58,000 USD

Marketing and Advertising

Advertising Manager- 54,100 USD
Market Research Analyst- 52,100 USD
Public Relations Manager- 53,900 USD

Legal and Law

Legal Attorney- 63,000 USD
Judge-101,800 USD
Paralegal- 40,000 USD

Other Well-Known Professions

Actor- 39,100 USD
Dancer- 22,100 USD
Interpreter and Translator- 42,900 USD
Librarian – 43,700 USD
Musician or Singer – 32,400 USD
Photographer – 31,300 USD
Writer – 38,200 USD

City-by-City Comparison of Wages in Puerto Rico

Puerto Rico offers a wide range of salaries, depending on the city you choose to live and work in. Here is a list of average salaries for some of the most popular cities in Puerto Rico:

San Juan: The average salary in San Juan is $47,000 per year.
Ponce: The average salary in Ponce is $42,000 per year.
Mayaguez: The average salary in Mayaguez is $40,000 per year.
Arecibo: The average salary in Arecibo is $37,000 per year.
Caguas: The average salary in Caguas is $34,000 per year.

Puerto Rico’s Standard Hourly Wage

Puerto Rico’s hourly salary is $10. 50 per hour. The average salary in Puerto Rico is $21,000 a year. The minimum wage in Puerto Rico is $7.25 per hour.

Puerto Rico’s cost of living is relatively low compared to other places in the world. The average rent for a one-bedroom apartment in Puerto Rico is $500 per month. The price of food and transportation is also relatively low in Puerto Rico.

The average salary in Puerto Rico does not provide enough money to live a comfortable life. Many people in Puerto Rico have to work two or three jobs to make ends meet. The high cost of living and the low salaries make it difficult for people to save money or get ahead financially.

If you are considering moving to Puerto Rico, you should be aware of the low salaries and high cost of living. Make sure you have a job lined up before you move, and be prepared to budget carefully. With a little planning and effort, you can find ways to enjoy your time in Puerto Rico despite the challenges.

The Salary Differences Between the Government and Private Sectors

Employees in Puerto Rico’s public sector earn, on average, 21% more than their private-sector colleagues. The gap is even wider for certain professions. For example, registered nurses in the public sector earn an average of 33% more than those in the private sector.

The disparity is due in part to the fact that government jobs tend to be more unionized than private-sector positions. Union membership gives workers more negotiating power when it comes to wages and benefits. In addition, many public-sector jobs require higher levels of education than private-sector positions.

Despite the higher salaries, public-sector employees are not necessarily better off than their private-sector counterparts. In Puerto Rico, government workers have less job security than those in the private sector. They are also more likely to be laid off during economic downturns.