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Eligibility Specialist Average Salary in British Indian Ocean Territory 2020

How much money does an Eligibility Specialist make in British Indian Ocean Territory?


Average Monthly Salary
2,630 USD
( 31,500 USD yearly)

LOW
1,210
USD
AVERAGE
2,630
USD
HIGH
4,180
USD

A person working as an Eligibility Specialist in British Indian Ocean Territory typically earns around 2,630 USD per month. Salaries range from 1,210 USD (lowest) to 4,180 USD (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 British Indian Ocean Territory

Median and salary distribution monthly British Indian Ocean Territory Eligibility Specialist
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The median, the maximum, the minimum, and the range

  • Salary Range

    Eligibility Specialist salaries in British Indian Ocean Territory range from 1,210 USD per month (minimum salary) to 4,180 USD per month (maximum salary).

  • Median Salary

    The median salary is 2,840 USD per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 2,840 USD while the other half are earning more than 2,840 USD. 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 1,820 USD while 75% of them are earning more than 1,820 USD. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 3,790 USD while 25% are earning more than 3,790 USD.


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 British Indian Ocean Territory 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 1,370 USD per month.

While someone with an experience level between two and five years is expected to earn 1,830 USD 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 2,710 USD 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 3,300 USD 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 3,600 USD 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 3,890 USD per month, 8% more than people with fifteen to twenty years of experience.


Eligibility Specialist average salary change by experience in British Indian Ocean Territory

0 - 2 Years
1,370 USD
2 - 5 Years+34%
1,830 USD
5 - 10 Years+48%
2,710 USD
10 - 15 Years+22%
3,300 USD
15 - 20 Years+9%
3,600 USD
20+ Years+8%
3,890 USD
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 British Indian Ocean Territory 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 1,590 USD per month.

While someone with a Master's Degree gets a salary of 3,080 USD per month, 93% more than someone having a Bachelor's Degree degree.


Eligibility Specialist average salary difference by education level in British Indian Ocean Territory

Bachelor's Degree
1,590 USD
Master's Degree+93%
3,080 USD
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 British Indian Ocean Territory costs anywhere from 13,400 US Dollar(s) to 40,200 US 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

Salary Comparison By Education Level
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Eligibility Specialist Salary Comparison By Gender

Salary comparison by gender monthly British Indian Ocean Territory 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 British Indian Ocean Territory earn 19% more than their female counterparts on average.

Male
2,860 USD
Female-16%
2,400 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in British Indian Ocean Territory for all Careers

Salary comparison by gender monthly British Indian Ocean Territory
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Eligibility Specialist Average Annual Salary Increment Percentage in British Indian Ocean Territory

How much are annual salary increments in British Indian Ocean Territory for Eligibility Specialist(s)? How often do employees get salary raises?

Eligibility Specialist

Eligibility Specialist(s) in British Indian Ocean Territory 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.

Annual Salary Increment Rate British Indian Ocean Territory 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.

British Indian Ocean Territory / 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 British Indian Ocean Territory 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 British Indian Ocean Territory 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 British Indian Ocean Territory

How much and how often are bonuses being awarded?Annual Salary Bonus Rate British Indian Ocean Territory 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 British Indian Ocean Territory


15 USD per hour

The average hourly wage (pay per hour) in British Indian Ocean Territory is 15 USD. This means that the average Eligibility Specialist in British Indian Ocean Territory earns approximately 15 USD 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 British Indian Ocean Territory
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The average salary for Eligibility Specialist is 2% 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 Analyst3,800 USD+45%
Actuarial Assistant2,500 USD-5%
Actuary3,490 USD+33%
Adjustment Insurance Clerk1,030 USD-61%
Assistant Broker1,720 USD-35%
Assistant Claims Manager3,080 USD+17%
Associate Insurance Representative1,380 USD-47%
Auditing Insurance Manager4,230 USD+61%
Broker2,630 USD+0%
Claim Advocacy Professional2,660 USD+1%
Claims Adjuster990 USD-62%
Claims Analyst1,430 USD-46%
Claims Examiner1,470 USD-44%
Claims Manager3,720 USD+42%
Claims Processor1,010 USD-62%
Claims Representative1,180 USD-55%
Claims Resolution Specialist2,950 USD+12%
Claims Supervisor2,780 USD+6%
Complaints Specialist2,420 USD-8%
Compliance Officer2,100 USD-20%
Consultant2,670 USD+2%
Eligibility Specialist2,630 USD+0%
Insurance Account Manager3,490 USD+33%
Insurance Accounts Executive3,010 USD+15%
Insurance Agent1,630 USD-38%
Insurance Analyst2,640 USD+1%
Insurance Appraiser2,660 USD+1%
Insurance Claims Clerk1,020 USD-61%
Insurance Examiner2,580 USD-2%
Insurance Investigator2,470 USD-6%
Insurance Manager4,630 USD+76%
Insurance Operations Manager4,700 USD+79%
Insurance Policy Processing Clerk1,010 USD-62%
Insurance Pricing Assistant2,180 USD-17%
Insurance Program Manager3,690 USD+41%
Insurance Project Manager3,410 USD+30%
Insurance Quality Assurance Agent2,270 USD-14%
Insurance Sales Agent1,660 USD-37%
Insurance Sales Director4,340 USD+65%
Insurance Team Leader2,960 USD+13%
Insurance Underwriter1,970 USD-25%
Loss Control Specialist2,610 USD-1%
Loss Prevention Investigator2,900 USD+10%
Loss Prevention Manager3,780 USD+44%
Loss Prevention Specialist2,850 USD+9%
Marine Underwriter2,090 USD-20%
Medical Auditor2,730 USD+4%
Monitoring and Performance Officer1,980 USD-25%
Payment Services Specialist2,790 USD+6%
Policy Change Director4,350 USD+66%
Policy Change Supervisor2,800 USD+7%
Policy Change Technician1,300 USD-50%
Risk Analyst3,180 USD+21%
Risk Management Director5,150 USD+96%
Risk Management Supervisor3,430 USD+31%
Risk Manager5,260 USD+100%
Risk Modeling Manager4,910 USD+87%
Title Insurance Typist2,420 USD-8%
Training Manager3,000 USD+14%

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 British Indian Ocean Territory earn 21% more than their private sector counterparts on average across all sectors.

Private Sector
2,440 USD
Public Sector+21%
2,950 USD
Percentage increase and decrease are relative to the previous value

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