A person working as an Eligibility Specialist in Nicaragua typically earns around 18,100 NIO per month. Salaries range from 8,330 NIO (lowest) to 28,800 NIO (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 salaries in Nicaragua range from 8,330 NIO per month (minimum salary) to 28,800 NIO per month (maximum salary).
The median salary is 19,600 NIO per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 19,600 NIO while the other half are earning more than 19,600 NIO. 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.
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 12,500 NIO while 75% of them are earning more than 12,500 NIO. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 26,100 NIO while 25% are earning more than 26,100 NIO.
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
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 9,450 NIO per month.
While someone with an experience level between two and five years is expected to earn 12,600 NIO 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 18,700 NIO 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 22,800 NIO 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 24,800 NIO 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 26,800 NIO per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+48%|
|10 - 15 Years||+22%|
|15 - 20 Years||+9%|
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 11,000 NIO per month.
While someone with a Master's Degree gets a salary of 21,200 NIO per month, 93% more than someone having a Bachelor's Degree degree.
A Master's degree program or any post-graduate program in Nicaragua costs anywhere from 94,700 Cordoba Oro(s) to 284,000 Cordoba Oro(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.
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 Nicaragua earn 14% more than their female counterparts on average.
Eligibility Specialist(s) in Nicaragua are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
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.
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
Listed above are the average annual increase rates for each industry in Nicaragua 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.
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.
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.
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.
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.
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.
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.
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.
The average salary for Eligibility Specialist is 5% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||24,300 NIO||+34%|
|Actuarial Assistant||18,100 NIO||-0%|
|Adjustment Insurance Clerk||7,070 NIO||-61%|
|Assistant Broker||11,500 NIO||-36%|
|Assistant Claims Manager||21,200 NIO||+17%|
|Associate Insurance Representative||9,550 NIO||-47%|
|Auditing Insurance Manager||27,000 NIO||+49%|
|Claim Advocacy Professional||19,800 NIO||+9%|
|Claims Adjuster||7,150 NIO||-61%|
|Claims Analyst||9,580 NIO||-47%|
|Claims Examiner||10,100 NIO||-44%|
|Claims Manager||26,300 NIO||+45%|
|Claims Processor||7,320 NIO||-60%|
|Claims Representative||8,150 NIO||-55%|
|Claims Resolution Specialist||20,300 NIO||+12%|
|Claims Supervisor||18,700 NIO||+3%|
|Complaints Specialist||18,000 NIO||-1%|
|Compliance Officer||14,800 NIO||-18%|
|Eligibility Specialist||18,100 NIO||-0%|
|Insurance Account Manager||23,500 NIO||+30%|
|Insurance Accounts Executive||20,700 NIO||+14%|
|Insurance Agent||11,500 NIO||-36%|
|Insurance Analyst||18,700 NIO||+3%|
|Insurance Appraiser||18,800 NIO||+4%|
|Insurance Claims Clerk||6,650 NIO||-63%|
|Insurance Examiner||17,400 NIO||-4%|
|Insurance Investigator||17,100 NIO||-6%|
|Insurance Manager||31,900 NIO||+76%|
|Insurance Operations Manager||32,400 NIO||+79%|
|Insurance Policy Processing Clerk||7,130 NIO||-61%|
|Insurance Pricing Assistant||15,400 NIO||-15%|
|Insurance Program Manager||23,600 NIO||+30%|
|Insurance Project Manager||22,900 NIO||+26%|
|Insurance Quality Assurance Agent||16,100 NIO||-11%|
|Insurance Sales Agent||10,900 NIO||-40%|
|Insurance Sales Director||31,500 NIO||+74%|
|Insurance Team Leader||19,400 NIO||+7%|
|Insurance Underwriter||14,600 NIO||-19%|
|Loss Control Specialist||18,900 NIO||+4%|
|Loss Prevention Investigator||19,500 NIO||+8%|
|Loss Prevention Manager||26,100 NIO||+44%|
|Loss Prevention Specialist||20,200 NIO||+12%|
|Marine Underwriter||14,000 NIO||-23%|
|Medical Auditor||18,800 NIO||+4%|
|Monitoring and Performance Officer||12,600 NIO||-30%|
|Payment Services Specialist||18,800 NIO||+4%|
|Policy Change Director||28,500 NIO||+57%|
|Policy Change Supervisor||20,800 NIO||+15%|
|Policy Change Technician||8,940 NIO||-51%|
|Risk Analyst||20,900 NIO||+15%|
|Risk Management Director||34,600 NIO||+91%|
|Risk Management Supervisor||23,700 NIO||+31%|
|Risk Manager||33,700 NIO||+86%|
|Risk Modeling Manager||35,600 NIO||+97%|
|Title Insurance Typist||15,500 NIO||-14%|
|Training Manager||20,100 NIO||+11%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Nicaragua earn 14% more than their private sector counterparts on average across all sectors.