Eligibility Specialist Average Salary in Montserrat 2021
How much money does an Eligibility Specialist make in Montserrat?
LOW
1,270
XCD AVERAGE
2,770
XCD HIGH
4,400
XCD
A person working as an Eligibility Specialist in Montserrat typically earns around 2,770 XCD per month. Salaries range from 1,270 XCD (lowest) to 4,400 XCD (highest).
This is the average monthly salary including housing, transport, and other benefits. Eligibility Specialist salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Eligibility Specialist Salary Distribution in Montserrat
The median, the maximum, the minimum, and the range
Salary Range
Eligibility Specialist salaries in Montserrat range from 1,270 XCD per month (minimum salary) to 4,400 XCD per month (maximum salary).
Median Salary
The median salary is 2,990 XCD per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 2,990 XCD while the other half are earning more than 2,990 XCD. 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 Eligibility Specialist(s) are earning less than 1,920 XCD while 75% of them are earning more than 1,920 XCD. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 3,990 XCD while 25% are earning more than 3,990 XCD.
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
Eligibility Specialist Salary Comparison by Years of Experience
How does experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Eligibility Specialist salaries by experience level and this is what we found.
An Eligibility Specialist with less than two years of experience makes approximately 1,450 XCD per month.
While someone with an experience level between two and five years is expected to earn 1,930 XCD per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,850 XCD per month, 48% more than someone with two to five years of experience.
Additionally, Eligibility Specialist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,480 XCD per month, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 3,790 XCD per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 4,100 XCD per month, 8% more than people with fifteen to twenty years of experience.
Eligibility Specialist average salary change by experience in Montserrat
| 0 - 2 Years | 1,450 XCD | |
| 2 - 5 Years | +34% | 1,930 XCD |
| 5 - 10 Years | +48% | 2,850 XCD |
| 10 - 15 Years | +22% | 3,480 XCD |
| 15 - 20 Years | +9% | 3,790 XCD |
| 20+ Years | +8% | 4,100 XCD |
Typical Salary Progress for Most Careers
Eligibility Specialist Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Eligibility Specialist(s) who have the same experience but different education levels.
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Eligibility Specialist salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of an Eligibility Specialist is 1,680 XCD per month.
While someone with a Master's Degree gets a salary of 3,240 XCD per month, 93% more than someone having a Bachelor's Degree degree.
Eligibility Specialist average salary difference by education level in Montserrat
| Bachelor's Degree | 1,680 XCD | |
| Master's Degree | +93% | 3,240 XCD |
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 Montserrat costs anywhere from 13,600 East Caribbean Dollar(s) to 40,700 East Caribbean Dollar(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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Eligibility Specialist Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Eligibility Specialist employees in Montserrat earn 19% more than their female counterparts on average.
| Male | 3,010 XCD | |
| Female | -16% | 2,530 XCD |
Salary Comparison By Gender in Montserrat for all Careers
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Eligibility Specialist Average Annual Salary Increment Percentage in Montserrat
How much are annual salary increments in Montserrat for Eligibility Specialist(s)? How often do employees get salary raises?
Eligibility Specialist
Eligibility Specialist(s) in Montserrat are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
Montserrat / 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
Annual Increment Rate By Industry 2020
| Banking | 1% | |
| Energy | 2% | |
| Information Technology | 3% | |
| Healthcare | 4% | |
| Travel | 5% | |
| Construction | 6% | |
| Education | 7% |
Listed above are the average annual increase rates for each industry in Montserrat for the year 2020. 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
Eligibility Specialist Bonus and Incentive Rates in Montserrat
How much and how often are bonuses being awarded?
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An Eligibility Specialist is considered to be a low bonus-based job 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.
84% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 16% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.
| Received Bonus | 16% | |
| No Bonus | 84% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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.
Eligibility Specialist Average Hourly Wage in Montserrat
16 XCD per hourThe average hourly wage (pay per hour) in Montserrat is 16 XCD. This means that the average Eligibility Specialist in Montserrat earns approximately 16 XCD for every worked hour.
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.
Eligibility Specialist VS Other Jobs
The average salary for Eligibility Specialist is 2% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Actuarial Analyst | 3,640 XCD |  +32% |
| Actuarial Assistant | 2,670 XCD |  -4% |
| Actuary | 3,750 XCD | +35% |
| Adjustment Insurance Clerk | 960 XCD | -65% |
| Assistant Broker | 1,770 XCD | -36% |
| Assistant Claims Manager | 2,860 XCD | +3% |
| Associate Insurance Representative | 1,460 XCD | -47% |
| Auditing Insurance Manager | 4,040 XCD | +46% |
| Broker | 2,740 XCD | -1% |
| Claim Advocacy Professional | 2,860 XCD | +3% |
| Claims Adjuster | 1,060 XCD | -62% |
| Claims Analyst | 1,400 XCD | -49% |
| Claims Examiner | 1,460 XCD | -47% |
| Claims Manager | 3,760 XCD | +36% |
| Claims Processor | 1,040 XCD | -62% |
| Claims Representative | 1,160 XCD | -58% |
| Claims Resolution Specialist | 2,910 XCD | +5% |
| Claims Supervisor | 2,610 XCD | -6% |
| Complaints Specialist | 2,420 XCD | -13% |
| Compliance Officer | 2,280 XCD | -18% |
| Consultant | 2,610 XCD | -6% |
| Eligibility Specialist | 2,770 XCD | +0% |
| Insurance Account Manager | 3,300 XCD | +19% |
| Insurance Accounts Executive | 2,910 XCD | +5% |
| Insurance Agent | 1,580 XCD | -43% |
| Insurance Analyst | 2,550 XCD | -8% |
| Insurance Appraiser | 2,620 XCD | -5% |
| Insurance Claims Clerk | 1,020 XCD | -63% |
| Insurance Examiner | 2,620 XCD | -5% |
| Insurance Investigator | 2,550 XCD | -8% |
| Insurance Manager | 4,630 XCD | +67% |
| Insurance Operations Manager | 4,530 XCD | +64% |
| Insurance Policy Processing Clerk | 1,050 XCD | -62% |
| Insurance Pricing Assistant | 2,230 XCD | -19% |
| Insurance Program Manager | 3,700 XCD | +34% |
| Insurance Project Manager | 3,330 XCD | +20% |
| Insurance Quality Assurance Agent | 2,300 XCD | -17% |
| Insurance Sales Agent | 1,590 XCD | -43% |
| Insurance Sales Director | 4,650 XCD | +68% |
| Insurance Team Leader | 2,760 XCD | -0% |
| Insurance Underwriter | 2,120 XCD | -23% |
| Loss Control Specialist | 2,530 XCD | -9% |
| Loss Prevention Investigator | 2,860 XCD | +3% |
| Loss Prevention Manager | 3,780 XCD | +37% |
| Loss Prevention Specialist | 2,900 XCD | +5% |
| Marine Underwriter | 1,960 XCD | -29% |
| Medical Auditor | 2,730 XCD | -1% |
| Monitoring and Performance Officer | 1,880 XCD | -32% |
| Payment Services Specialist | 2,750 XCD | -1% |
| Policy Change Director | 4,260 XCD | +54% |
| Policy Change Supervisor | 3,080 XCD | +11% |
| Policy Change Technician | 1,310 XCD | -53% |
| Risk Analyst | 2,980 XCD | +8% |
| Risk Management Director | 5,410 XCD | +95% |
| Risk Management Supervisor | 3,310 XCD | +20% |
| Risk Manager | 5,150 XCD | +86% |
| Risk Modeling Manager | 4,870 XCD | +76% |
| Title Insurance Typist | 2,370 XCD | -14% |
| Training Manager | 3,090 XCD | +12% |
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in Montserrat earn 11% more than their private sector counterparts on average across all sectors.
| Private Sector | 2,550 XCD | |
| Public Sector | +11% | 2,820 XCD |
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