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Eligibility Specialist Average Salary in Venezuela 2020

How much money does an Eligibility Specialist make in Venezuela?


Average Monthly Salary
139,000 VES
( 1,670,000 VES yearly)

LOW
64,000
VES
AVERAGE
139,000
VES
HIGH
221,000
VES

A person working as an Eligibility Specialist in Venezuela typically earns around 139,000 VES per month. Salaries range from 64,000 VES (lowest) to 221,000 VES (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 Venezuela

Median and salary distribution monthly Venezuela Eligibility Specialist
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The median, the maximum, the minimum, and the range

  • Salary Range

    Eligibility Specialist salaries in Venezuela range from 64,000 VES per month (minimum salary) to 221,000 VES per month (maximum salary).

  • Median Salary

    The median salary is 150,000 VES per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 150,000 VES while the other half are earning more than 150,000 VES. 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 96,400 VES while 75% of them are earning more than 96,400 VES. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 200,000 VES while 25% are earning more than 200,000 VES.


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?

Salary comparison by years of experience monthly Venezuela Eligibility Specialist
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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 Eligibility Specialist salaries by experience level and this is what we found.

An Eligibility Specialist with less than two years of experience makes approximately 72,600 VES per month.

While someone with an experience level between two and five years is expected to earn 97,000 VES 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 143,000 VES 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, Eligibility Specialist(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 175,000 VES 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 190,000 VES 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 206,000 VES per month, 8% more than people with fifteen to twenty years of experience.


Eligibility Specialist average salary change by experience in Venezuela

0 - 2 Years
72,600 VES
2 - 5 Years+34%
97,000 VES
5 - 10 Years+48%
143,000 VES
10 - 15 Years+22%
175,000 VES
15 - 20 Years+9%
190,000 VES
20+ Years+8%
206,000 VES
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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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.

Salary comparison by education level monthly Venezuela Eligibility Specialist
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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 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 84,400 VES per month.

While someone with a Master's Degree gets a salary of 163,000 VES per month, 93% more than someone having a Bachelor's Degree degree.


Eligibility Specialist average salary difference by education level in Venezuela

Bachelor's Degree
84,400 VES
Master's Degree+93%
163,000 VES
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 Venezuela costs anywhere from 662,000 Bolivar Soberano(s) to 1,990,000 Bolivar Soberano(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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Eligibility Specialist Salary Comparison By Gender

Salary comparison by gender monthly Venezuela Eligibility Specialist
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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 Eligibility Specialist employees in Venezuela earn 14% more than their female counterparts on average.

Male
148,000 VES
Female-12%
130,000 VES
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Venezuela for all Careers

Salary comparison by gender monthly Venezuela
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Eligibility Specialist Average Annual Salary Increment Percentage in Venezuela

How much are annual salary increments in Venezuela for Eligibility Specialist(s)? How often do employees get salary raises?

Eligibility Specialist

Eligibility Specialist(s) in Venezuela are likely to observe a salary increase of approximately 7% every 30 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Venezuela Eligibility Specialist
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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.

Venezuela / 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 Venezuela is 2%.

Annual Increment Rate By Industry 2019

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 Venezuela 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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Eligibility Specialist Bonus and Incentive Rates in Venezuela

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Venezuela Eligibility Specialist
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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 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.

Eligibility Specialist Average Hourly Wage in Venezuela


800 VES per hour

The average hourly wage (pay per hour) in Venezuela is 800 VES. This means that the average Eligibility Specialist in Venezuela earns approximately 800 VES 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.

Eligibility Specialist VS Other Jobs

Salary Comparison Between Eligibility Specialist and Insurance monthly Venezuela
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The average salary for Eligibility Specialist is 5% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst177,000 VES+27%
Actuarial Assistant129,000 VES-7%
Actuary176,000 VES+27%
Adjustment Insurance Clerk47,500 VES-66%
Assistant Broker82,900 VES-40%
Assistant Claims Manager146,000 VES+5%
Associate Insurance Representative69,300 VES-50%
Auditing Insurance Manager197,000 VES+42%
Broker135,000 VES-3%
Claim Advocacy Professional140,000 VES+1%
Claims Adjuster51,000 VES-63%
Claims Analyst66,900 VES-52%
Claims Examiner69,300 VES-50%
Claims Manager195,000 VES+40%
Claims Processor48,000 VES-65%
Claims Representative57,000 VES-59%
Claims Resolution Specialist141,000 VES+1%
Claims Supervisor133,000 VES-4%
Complaints Specialist123,000 VES-12%
Compliance Officer109,000 VES-22%
Consultant133,000 VES-4%
Eligibility Specialist139,000 VES-0%
Insurance Account Manager158,000 VES+14%
Insurance Accounts Executive141,000 VES+1%
Insurance Agent82,000 VES-41%
Insurance Analyst127,000 VES-9%
Insurance Appraiser130,000 VES-7%
Insurance Claims Clerk50,000 VES-64%
Insurance Examiner128,000 VES-8%
Insurance Investigator123,000 VES-12%
Insurance Manager228,000 VES+64%
Insurance Operations Manager232,000 VES+67%
Insurance Policy Processing Clerk50,300 VES-64%
Insurance Pricing Assistant107,000 VES-23%
Insurance Program Manager177,000 VES+27%
Insurance Project Manager169,000 VES+22%
Insurance Quality Assurance Agent119,000 VES-14%
Insurance Sales Agent83,200 VES-40%
Insurance Sales Director224,000 VES+61%
Insurance Team Leader139,000 VES-0%
Insurance Underwriter104,000 VES-25%
Loss Control Specialist127,000 VES-9%
Loss Prevention Investigator142,000 VES+2%
Loss Prevention Manager186,000 VES+34%
Loss Prevention Specialist141,000 VES+1%
Marine Underwriter99,500 VES-28%
Medical Auditor135,000 VES-3%
Monitoring and Performance Officer97,400 VES-30%
Payment Services Specialist137,000 VES-1%
Policy Change Director210,000 VES+51%
Policy Change Supervisor150,000 VES+8%
Policy Change Technician63,100 VES-55%
Risk Analyst156,000 VES+12%
Risk Management Director254,000 VES+83%
Risk Management Supervisor170,000 VES+22%
Risk Manager261,000 VES+88%
Risk Modeling Manager245,000 VES+76%
Title Insurance Typist120,000 VES-14%
Training Manager145,000 VES+4%

Salary Comparison By City

CityAverage Salary
Barquisimeto136,000 VES
Caracas152,000 VES
Ciudad Guayana123,000 VES
Maracaibo141,000 VES

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 Venezuela earn 11% more than their private sector counterparts on average across all sectors.

Private Sector
124,000 VES
Public Sector+11%
138,000 VES
Percentage increase and decrease are relative to the previous value

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