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Business Planning Average Salaries in Eritrea 2020

How much money does a person working in Business Planning make in Eritrea?


Average Monthly Salary
7,190 ERN
( 86,300 ERN yearly)

LOW
3,560
ERN
AVERAGE
7,190
ERN
HIGH
12,300
ERN

A person working in Business Planning in Eritrea typically earns around 7,190 ERN per month. Salaries range from 3,560 ERN (lowest average) to 12,300 ERN (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Business Planning careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Assistant Business Development Manager9,150 ERN
Assistant Merchandise Planner5,290 ERN
Business Advisor8,060 ERN
Business Analyst8,520 ERN
Business Consultant8,030 ERN
Business Continuity Associate4,840 ERN
Business Development Associate4,460 ERN
Business Development Coordinator4,430 ERN
Business Development Manager10,800 ERN
Business Development Specialist7,650 ERN
Business Operations Specialist7,460 ERN
Business Process Writer4,550 ERN
Capacity Planner5,960 ERN
Capacity Planning Supervisor7,710 ERN
Change Communications Analyst7,380 ERN
Change Control Analyst8,060 ERN
Contracts Executive7,690 ERN
Corporate Strategy Analyst8,030 ERN
Cost Control Engineer5,310 ERN
Cost Estimator5,210 ERN
Data Executive4,510 ERN
Development Researcher6,310 ERN
Due Diligence Analyst8,870 ERN
Estimating Manager8,580 ERN
General Manager10,200 ERN
Incident Handler5,670 ERN
Incident Specialist6,730 ERN
Lean Consultant6,330 ERN
Manager10,700 ERN
Materials Planner3,700 ERN
Merchandise Controller3,580 ERN
Merchandise Planner3,590 ERN
Operations Analyst7,650 ERN
Operations Research Analyst4,860 ERN
Planning and Reporting Manager9,230 ERN
Planning Director10,400 ERN
Project Administrator5,400 ERN
Project Manager8,760 ERN
Project Planner5,180 ERN
Research Assistant4,340 ERN
Research Engineer5,150 ERN
Research Officer3,910 ERN
Risk Management Specialist7,850 ERN
Scholarship Coordinator4,170 ERN
Store Planner4,170 ERN
Strategy Director11,600 ERN
Top Research and Development Executive12,100 ERN

Business Planning Jobs Salary Distribution in Eritrea

Median and salary distribution monthly Eritrea Business Planning
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The median, the maximum, the minimum, and the range

  • Salary Range

    Business Planning salaries in Eritrea range from 3,560 ERN per month (minimum average salary) to 12,300 ERN per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 6,760 ERN per month, which means that half (50%) of people working in Business Planning are earning less than 6,760 ERN while the other half are earning more than 6,760 ERN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Business Planning are earning less than 4,640 ERN while 75% of them are earning more than 4,640 ERN. Also from the diagram, 75% of people working in Business Planning are earning less than 8,950 ERN while 25% are earning more than 8,950 ERN.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Eritrea costs anywhere from 34,200 Nakfa(s) to 103,000 Nakfa(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Business Planning Salary Comparison By Gender

Salary comparison by gender monthly Eritrea Business Planning
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Eritrea who work in Business Planning earn 22% more than their female counterparts on average.

Female
6,330 ERN
Male+22%
7,690 ERN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Eritrea for all Careers

Salary comparison by gender monthly Eritrea
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Business Planning Average Annual Salary Increment Percentage in Eritrea

How much are annual salary increments in Eritrea for Business Planning professionals? How often do employees get salary raises?

Business Planning

Business Planning professionals in Eritrea are likely to observe a salary increase of approximately 7% every 26 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Eritrea Business Planning
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Eritrea / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Eritrea is 2%.

Annual Increment Rate By Industry 2019

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

Listed above are the average annual increase rates for each industry in Eritrea for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Business Planning Bonus and Incentive Rates in Eritrea

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Eritrea Business Planning
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Business Planning is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

43% of surveyed staff in Business Planning reported that they haven't received any bonuses or incentives in the previous year while 57% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
57%
No Bonus
43%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Eritrea
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Where can you get paid more, working for a private company or for the government? Public sector employees in Eritrea earn 21% more than their private sector counterparts on average across all sectors.

Private Sector
6,220 ERN
Public Sector+21%
7,520 ERN
Percentage increase and decrease are relative to the previous value

Business Planning Hourly Average Wage in Eritrea


41 ERN per hour

The average hourly wage (pay per hour) in Eritrea is 41 ERN. This means that the average person in Eritrea earns approximately 41 ERN for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Business Planning VS Other Jobs

Salary Comparison Between Business Planning and Business Planning monthly Eritrea
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The average salary for Business Planning is 5% more than that of All Jobs.

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