Eligibility Specialist Average Salary in British Indian Ocean Territory 2021
How much money does an Eligibility Specialist make in British Indian Ocean Territory?
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
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?
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.
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 |
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 1,590 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 |
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
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 British Indian Ocean Territory earn 19% more than their female counterparts on average.
| Male | 2,860 USD | |
| Female | -16% | 2,400 USD |
Salary Comparison By Gender in British Indian Ocean Territory for all Careers
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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.
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
Annual Increment Rate By Industry 2020
| 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 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 British Indian Ocean Territory
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 British Indian Ocean Territory
15 USD per hourThe 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.
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% less 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 | 3,800 USD |  +45% |
| Actuarial Assistant | 2,500 USD |  -5% |
| Actuary | 3,490 USD | +33% |
| Adjustment Insurance Clerk | 1,030 USD | -61% |
| Assistant Broker | 1,720 USD | -35% |
| Assistant Claims Manager | 3,080 USD | +17% |
| Associate Insurance Representative | 1,380 USD | -47% |
| Auditing Insurance Manager | 4,230 USD | +61% |
| Broker | 2,630 USD | +0% |
| Claim Advocacy Professional | 2,660 USD | +1% |
| Claims Adjuster | 990 USD | -62% |
| Claims Analyst | 1,430 USD | -46% |
| Claims Examiner | 1,470 USD | -44% |
| Claims Manager | 3,720 USD | +42% |
| Claims Processor | 1,010 USD | -62% |
| Claims Representative | 1,180 USD | -55% |
| Claims Resolution Specialist | 2,950 USD | +12% |
| Claims Supervisor | 2,780 USD | +6% |
| Complaints Specialist | 2,420 USD | -8% |
| Compliance Officer | 2,100 USD | -20% |
| Consultant | 2,670 USD | +2% |
| Eligibility Specialist | 2,630 USD | +0% |
| Insurance Account Manager | 3,490 USD | +33% |
| Insurance Accounts Executive | 3,010 USD | +15% |
| Insurance Agent | 1,630 USD | -38% |
| Insurance Analyst | 2,640 USD | +1% |
| Insurance Appraiser | 2,660 USD | +1% |
| Insurance Claims Clerk | 1,020 USD | -61% |
| Insurance Examiner | 2,580 USD | -2% |
| Insurance Investigator | 2,470 USD | -6% |
| Insurance Manager | 4,630 USD | +76% |
| Insurance Operations Manager | 4,700 USD | +79% |
| Insurance Policy Processing Clerk | 1,010 USD | -62% |
| Insurance Pricing Assistant | 2,180 USD | -17% |
| Insurance Program Manager | 3,690 USD | +41% |
| Insurance Project Manager | 3,410 USD | +30% |
| Insurance Quality Assurance Agent | 2,270 USD | -14% |
| Insurance Sales Agent | 1,660 USD | -37% |
| Insurance Sales Director | 4,340 USD | +65% |
| Insurance Team Leader | 2,960 USD | +13% |
| Insurance Underwriter | 1,970 USD | -25% |
| Loss Control Specialist | 2,610 USD | -1% |
| Loss Prevention Investigator | 2,900 USD | +10% |
| Loss Prevention Manager | 3,780 USD | +44% |
| Loss Prevention Specialist | 2,850 USD | +9% |
| Marine Underwriter | 2,090 USD | -20% |
| Medical Auditor | 2,730 USD | +4% |
| Monitoring and Performance Officer | 1,980 USD | -25% |
| Payment Services Specialist | 2,790 USD | +6% |
| Policy Change Director | 4,350 USD | +66% |
| Policy Change Supervisor | 2,800 USD | +7% |
| Policy Change Technician | 1,300 USD | -50% |
| Risk Analyst | 3,180 USD | +21% |
| Risk Management Director | 5,150 USD | +96% |
| Risk Management Supervisor | 3,430 USD | +31% |
| Risk Manager | 5,260 USD | +100% |
| Risk Modeling Manager | 4,910 USD | +87% |
| Title Insurance Typist | 2,420 USD | -8% |
| Training Manager | 3,000 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 |
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