A person working as Mortgage Advisor in Bulgaria typically earns around 2,620 BGN. Salaries range from 1,280 BGN (lowest) to 4,080 BGN (highest).
This is the average salary including housing, transport, and other benefits. Mortgage Advisor salaries in Bulgaria vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Salaries for the position Mortgage Advisor in Bulgaria range from 1,280 BGN (starting salary) to 4,080 BGN (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
With a median salary of 2,440 BGN, half of the professionals who work as Mortgage Advisor in Bulgaria earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Mortgage Advisor in Bulgaria earn less than 2,000 BGN, while 75% earn more. Similarly, the chart shows that 75% earn less than 2,790 BGN while 25% earn more.
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Mortgage Advisor in Bulgaria compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,520 BGN to 2,140 BGN. About 20% of salaries are below the 1,520 BGN mark, while 10% fall within the range of 2,140 BGN to 2,430 BGN. Only 5% of individuals have salaries exceeding 2,430 BGN.
|0 - 2 Years|
|2 - 5 Years||+29%|
|5 - 10 Years||+38%|
|10 - 15 Years||+24%|
|15 - 20 Years||+7%|
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Mortgage Advisor and this is what we found.
Employees with less than two years of experience earn approximately 1,520 BGN.
While someone with an experience level between two and five years is expected to earn 1,950 BGN, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,700 BGN, 38% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,340 BGN, 24% 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 3,580 BGN, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 3,820 BGN, 7% more than people with fifteen to twenty years of experience.
|Certificate or Diploma|
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 salaries by education level for the position Mortgage Advisor in order to make a comparison.
Employees at this education level have an average salary of 1,950 BGN.
At this level, the average salary becomes 2,630 BGN, 34% more than the previous level.
At this level, the average salary becomes 4,030 BGN, 53% more than the previous level.
A Master's degree program or any post-graduate program in Bulgaria costs anywhere from 16,500 BGN to 49,500 BGN 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 to a higher-paying job. The numbers seem to support the theory. 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? For the people who work as Mortgage Advisor in Bulgaria, the average difference between the salary of male and female employees is 6%.
Individuals working as Mortgage Advisor in Bulgaria are likely to observe a salary increase of approximately 10% every 19 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Bulgaria for the year 2022. 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.
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
22% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 78% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% 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.
|Average Salary 2019|
|Average Salary 2020||+4%|
|Average Salary 2021||+3%|
|Average Salary 2022||+2%|
Salaries for individuals working as Mortgage Advisor in Bulgaria are on the rise in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.
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 fixed 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 minimum pay rate per hour for people working as Mortgage Advisor in Bulgaria is 7 BGN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
|Job Title||Average Salary|
|AML Analyst||4,910 BGN||+88%|
|Assistant Bank Branch Manager||4,330 BGN||+66%|
|Assistant Bank Manager||5,720 BGN||+120%|
|ATM Manager||4,990 BGN||+91%|
|ATM Service Technician||1,290 BGN||-51%|
|Bank Accounts Analyst||1,900 BGN||-27%|
|Bank Accounts Controller||2,470 BGN||-6%|
|Bank Accounts Executive||3,780 BGN||+44%|
|Bank Accounts Manager||4,100 BGN||+57%|
|Bank Auditing Manager||4,280 BGN||+64%|
|Bank Branch Manager||5,710 BGN||+120%|
|Bank Clerk||1,130 BGN||-57%|
|Bank Compliance Specialist||3,200 BGN||+22%|
|Bank Manager||7,190 BGN||+170%|
|Bank Operational Risk Manager||6,690 BGN||+160%|
|Bank Operations Head||6,870 BGN||+160%|
|Bank Operations Officer||2,870 BGN||+10%|
|Bank Operations Specialist||4,200 BGN||+61%|
|Bank Process Manager||3,810 BGN||+46%|
|Bank Product Manager||4,520 BGN||+73%|
|Bank Programme Manager||4,720 BGN||+80%|
|Bank Project Manager||5,510 BGN||+110%|
|Bank Propositions Manager||5,070 BGN||+94%|
|Bank Quantitative Analyst||3,390 BGN||+30%|
|Bank Regional Manager||7,610 BGN||+190%|
|Bank Regional Risk Officer||3,880 BGN||+48%|
|Bank Relationship Manager||5,220 BGN||+100%|
|Bank Relationship Officer||2,430 BGN||-7%|
|Banking Business Analyst||3,720 BGN||+42%|
|Banking Business Development Officer||2,260 BGN||-14%|
|Banking Business Planning Executive||5,150 BGN||+97%|
|Banking Product Manager||4,380 BGN||+67%|
|Banking Reference Data Manager||4,080 BGN||+56%|
|Banking Risk Analyst||3,740 BGN||+43%|
|Banking Technical Analyst||2,020 BGN||-23%|
|Bankruptcy Coordinator||2,580 BGN||-1%|
|Budget Analyst||3,690 BGN||+41%|
|Cards Marketing Manager||4,480 BGN||+71%|
|Cash Management Manager||6,530 BGN||+150%|
|Check Processing Manager||4,980 BGN||+90%|
|Commercial Vault Associate||3,740 BGN||+43%|
|Corporate Dealer||3,720 BGN||+42%|
|Credit Analyst||2,990 BGN||+14%|
|Credit and Collections Manager||4,860 BGN||+86%|
|Credit Card Fraud Investigator||3,840 BGN||+47%|
|Credit Portfolio Manager||6,590 BGN||+150%|
|Credit Risk Analyst||4,240 BGN||+62%|
|Credit Risk Associate||3,910 BGN||+49%|
|Direct Bank Sales Representative||2,720 BGN||+4%|
|Financial Bank Planning Consultant||4,930 BGN||+88%|
|Financial Banking Analysis Manager||5,470 BGN||+110%|
|Financial Banking Assistant||1,830 BGN||-30%|
|Financial Banking Systems Manager||4,900 BGN||+87%|
|Foreign Exchange Manager||5,410 BGN||+110%|
|Fraud Analyst||3,880 BGN||+48%|
|Fraud Detection Associate||2,770 BGN||+6%|
|Fraud Detection Manager||5,850 BGN||+120%|
|Fraud Detection Supervisor||3,130 BGN||+20%|
|Internal Bank Audit Manager||6,970 BGN||+170%|
|Internal Bank Auditor||3,470 BGN||+33%|
|International Banking Manager||7,580 BGN||+190%|
|Loan Analyst||3,490 BGN||+33%|
|Loan Area Manager||4,590 BGN||+75%|
|Loan Audit Team Leader||4,300 BGN||+64%|
|Loan Branch Manager||3,980 BGN||+52%|
|Loan Business Development Officer||2,220 BGN||-15%|
|Loan Clerk||1,340 BGN||-49%|
|Loan Collection Manager||4,240 BGN||+62%|
|Loan Collector||1,230 BGN||-53%|
|Loan Examiner||1,540 BGN||-41%|
|Loan Processing Manager||3,930 BGN||+50%|
|Loan Processor||1,700 BGN||-35%|
|Loan Quality Assurance Auditor||3,560 BGN||+36%|
|Loan Quality Assurance Manager||4,100 BGN||+57%|
|Loan Quality Assurance Representative||2,820 BGN||+8%|
|Loan Review Manager||3,980 BGN||+52%|
|Loan Team Leader||3,680 BGN||+41%|
|Mortgage Advisor||2,620 BGN||+0%|
|Mortgage Collection Manager||4,120 BGN||+57%|
|Mortgage Collector||1,190 BGN||-55%|
|Mortgage Credit Analyst||2,000 BGN||-24%|
|Mortgage Credit Manager||3,930 BGN||+50%|
|Mortgage Development Manager||4,660 BGN||+78%|
|Mortgage Document Reviewer||1,640 BGN||-37%|
|Mortgage Funding Manager||4,550 BGN||+74%|
|Mortgage Operations Manager||6,490 BGN||+150%|
|Mortgage Payment Processing Clerk||1,340 BGN||-49%|
|Mortgage Processing Manager||4,160 BGN||+59%|
|Mortgage Processor||1,690 BGN||-35%|
|Mortgage Quality Assurance Auditor||3,580 BGN||+37%|
|Mortgage Quality Assurance Manager||4,240 BGN||+62%|
|Mortgage Servicing Clerk||1,220 BGN||-53%|
|Mortgage Servicing Manager||4,010 BGN||+53%|
|Mortgage Underwriter||1,480 BGN||-43%|
|Online Banking Manager||6,650 BGN||+150%|
|Payment Processing Clerk||1,270 BGN||-51%|
|Personal Banker||2,670 BGN||+2%|
|Personal Banking Advisor||2,830 BGN||+8%|
|Phone Banker||1,840 BGN||-30%|
|Private Banker||2,670 BGN||+2%|
|Reconciliation and Investigation Specialist||2,860 BGN||+9%|
|Trade Officer||1,430 BGN||-45%|
|Trade Product Manager||4,250 BGN||+62%|
|Treasury Operations Officer||3,190 BGN||+22%|
|Stara Zagora||2,360 BGN|
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Bulgaria is 9% on average across all career fields.
A good and competitive compensation would range anywhere between 2,440 BGN and 2,790 BGN. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
The base salary for a careers like Mortgage Advisor in Bulgaria ranges from 2,000 BGN to 2,790 BGN. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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
©Salary Explorer 2023