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Broker Average Salary in Philippines 2020

How much money does a Broker make in Philippines?


Average Monthly Salary
42,100 PHP
( 505,000 PHP yearly)

LOW
19,400
PHP
AVERAGE
42,100
PHP
HIGH
67,000
PHP

A person working as a Broker in Philippines typically earns around 42,100 PHP per month. Salaries range from 19,400 PHP (lowest) to 67,000 PHP (highest).

This is the average monthly salary including housing, transport, and other benefits. Broker salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Broker Salary Distribution in Philippines

Median and salary distribution monthly Philippines Broker
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The median, the maximum, the minimum, and the range

  • Salary Range

    Broker salaries in Philippines range from 19,400 PHP per month (minimum salary) to 67,000 PHP per month (maximum salary).

  • Median Salary

    The median salary is 45,500 PHP per month, which means that half (50%) of people working as Broker(s) are earning less than 45,500 PHP while the other half are earning more than 45,500 PHP. 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 Broker(s) are earning less than 29,200 PHP while 75% of them are earning more than 29,200 PHP. Also from the diagram, 75% of Broker(s) are earning less than 60,700 PHP while 25% are earning more than 60,700 PHP.


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

Broker Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Philippines Broker
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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 Broker salaries by experience level and this is what we found.

A Broker with less than two years of experience makes approximately 22,000 PHP per month.

While someone with an experience level between two and five years is expected to earn 29,400 PHP 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 43,400 PHP per month, 48% more than someone with two to five years of experience.

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.

Additionally, Broker(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 52,900 PHP 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 57,700 PHP 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 62,400 PHP per month, 8% more than people with fifteen to twenty years of experience.


Broker average salary change by experience in Philippines

0 - 2 Years
22,000 PHP
2 - 5 Years+34%
29,400 PHP
5 - 10 Years+48%
43,400 PHP
10 - 15 Years+22%
52,900 PHP
15 - 20 Years+9%
57,700 PHP
20+ Years+8%
62,400 PHP
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Broker Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Broker(s) who have the same experience but different education levels.

Salary comparison by education level monthly Philippines Broker
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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 Broker salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of a Broker is 25,100 PHP per month.

While someone with a Bachelor's Degree gets a salary of 39,400 PHP per month, 57% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 66,000 PHP per month, 68% more than someone with a Bachelor's Degree.


Broker average salary difference by education level in Philippines

Certificate or Diploma
25,100 PHP
Bachelor's Degree+57%
39,400 PHP
Master's Degree+68%
66,000 PHP
Percentage increase and decrease are relative to the previous value

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 Philippines costs anywhere from 223,000 Philippine Peso(s) to 669,000 Philippine Peso(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

Salary Comparison By Education Level
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Broker Salary Comparison By Gender

Salary comparison by gender monthly Philippines Broker
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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 Broker employees in Philippines earn 15% more than their female counterparts on average.

Male
45,000 PHP
Female-13%
39,200 PHP
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Philippines for all Careers

Salary comparison by gender monthly Philippines
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Broker Average Annual Salary Increment Percentage in Philippines

How much are annual salary increments in Philippines for Broker(s)? How often do employees get salary raises?

Broker

Broker(s) in Philippines are likely to observe a salary increase of approximately 11% every 18 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Philippines Broker
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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.

Philippines / 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 Philippines is 5%.

Annual Increment Rate By Industry 2019

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

Listed above are the average annual increase rates for each industry in Philippines 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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Broker Bonus and Incentive Rates in Philippines

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Philippines Broker
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A Broker 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.

68% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 32% 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
32%
No Bonus
68%

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.

Broker Average Hourly Wage in Philippines


240 PHP per hour

The average hourly wage (pay per hour) in Philippines is 240 PHP. This means that the average Broker in Philippines earns approximately 240 PHP 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.

Broker VS Other Jobs

Salary Comparison Between Broker and Insurance monthly Philippines
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The average salary for Broker is 6% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst57,400 PHP+36%
Actuarial Assistant39,200 PHP-7%
Actuary55,900 PHP+33%
Adjustment Insurance Clerk16,400 PHP-61%
Assistant Broker27,500 PHP-35%
Assistant Claims Manager46,500 PHP+10%
Associate Insurance Representative23,500 PHP-44%
Auditing Insurance Manager63,800 PHP+51%
Broker42,100 PHP-0%
Claim Advocacy Professional44,400 PHP+5%
Claims Adjuster15,500 PHP-63%
Claims Analyst23,300 PHP-45%
Claims Examiner22,600 PHP-46%
Claims Manager59,600 PHP+42%
Claims Processor16,800 PHP-60%
Claims Representative18,900 PHP-55%
Claims Resolution Specialist46,300 PHP+10%
Claims Supervisor43,600 PHP+4%
Complaints Specialist42,000 PHP-0%
Compliance Officer34,300 PHP-19%
Consultant41,900 PHP-1%
Eligibility Specialist42,900 PHP+2%
Insurance Account Manager51,600 PHP+23%
Insurance Accounts Executive47,200 PHP+12%
Insurance Agent26,100 PHP-38%
Insurance Analyst44,900 PHP+7%
Insurance Appraiser45,100 PHP+7%
Insurance Claims Clerk16,300 PHP-61%
Insurance Examiner38,900 PHP-8%
Insurance Investigator42,900 PHP+2%
Insurance Manager74,100 PHP+76%
Insurance Operations Manager78,200 PHP+86%
Insurance Policy Processing Clerk16,500 PHP-61%
Insurance Pricing Assistant35,600 PHP-15%
Insurance Program Manager54,500 PHP+29%
Insurance Project Manager53,400 PHP+27%
Insurance Quality Assurance Agent36,400 PHP-14%
Insurance Sales Agent25,600 PHP-39%
Insurance Sales Director68,100 PHP+62%
Insurance Team Leader48,200 PHP+14%
Insurance Underwriter32,900 PHP-22%
Loss Control Specialist42,600 PHP+1%
Loss Prevention Investigator44,500 PHP+6%
Loss Prevention Manager60,500 PHP+44%
Loss Prevention Specialist47,600 PHP+13%
Marine Underwriter32,700 PHP-22%
Medical Auditor43,700 PHP+4%
Monitoring and Performance Officer31,600 PHP-25%
Payment Services Specialist43,000 PHP+2%
Policy Change Director69,600 PHP+65%
Policy Change Supervisor46,700 PHP+11%
Policy Change Technician20,300 PHP-52%
Risk Analyst48,900 PHP+16%
Risk Management Director82,400 PHP+96%
Risk Management Supervisor57,100 PHP+36%
Risk Manager82,600 PHP+96%
Risk Modeling Manager80,300 PHP+91%
Title Insurance Typist38,000 PHP-10%
Training Manager48,000 PHP+14%

Salary Comparison By City

CityAverage Salary
Antipolo48,300 PHP
Cagayan de Oro44,300 PHP
Cebu49,100 PHP
Dasmarinas39,600 PHP
Davao51,400 PHP
Kalookan49,500 PHP
Las Pinas42,600 PHP
Makati42,100 PHP
Manila50,700 PHP
Paranaque43,900 PHP
Pasig47,900 PHP
Quezon City51,100 PHP
Taguig50,200 PHP
Valenzuela41,700 PHP

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 Philippines earn 12% more than their private sector counterparts on average across all sectors.

Private Sector
42,100 PHP
Public Sector+12%
47,100 PHP
Percentage increase and decrease are relative to the previous value

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