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Eligibility Specialist Average Salary in Gibraltar 2020

How much money does an Eligibility Specialist make in Gibraltar?


Average Yearly Salary
39,200 GIP
( 3,270 GIP monthly)

LOW
18,000
GIP
AVERAGE
39,200
GIP
HIGH
62,400
GIP

A person working as an Eligibility Specialist in Gibraltar typically earns around 39,200 GIP per year. Salaries range from 18,000 GIP (lowest) to 62,400 GIP (highest).

This is the average yearly 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 Gibraltar

Median and salary distribution yearly Gibraltar Eligibility Specialist
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The median, the maximum, the minimum, and the range

  • Salary Range

    Eligibility Specialist salaries in Gibraltar range from 18,000 GIP per year (minimum salary) to 62,400 GIP per year (maximum salary).

  • Median Salary

    The median salary is 42,400 GIP per year, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 42,400 GIP while the other half are earning more than 42,400 GIP. 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 27,200 GIP while 75% of them are earning more than 27,200 GIP. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 56,600 GIP while 25% are earning more than 56,600 GIP.


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 yearly Gibraltar 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 20,500 GIP per year.

While someone with an experience level between two and five years is expected to earn 27,400 GIP per year, 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 40,400 GIP per year, 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 49,300 GIP per year, 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 53,700 GIP per year, 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 58,200 GIP per year, 8% more than people with fifteen to twenty years of experience.


Eligibility Specialist average salary change by experience in Gibraltar

0 - 2 Years
20,500 GIP
2 - 5 Years+34%
27,400 GIP
5 - 10 Years+48%
40,400 GIP
10 - 15 Years+22%
49,300 GIP
15 - 20 Years+9%
53,700 GIP
20+ Years+8%
58,200 GIP
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 yearly Gibraltar 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 23,800 GIP per year.

While someone with a Master's Degree gets a salary of 46,000 GIP per year, 93% more than someone having a Bachelor's Degree degree.


Eligibility Specialist average salary difference by education level in Gibraltar

Bachelor's Degree
23,800 GIP
Master's Degree+93%
46,000 GIP
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 Gibraltar costs anywhere from 16,900 Gibraltar Pound(s) to 50,700 Gibraltar Pound(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 yearly Gibraltar 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 Gibraltar earn 19% more than their female counterparts on average.

Male
42,700 GIP
Female-16%
35,800 GIP
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Gibraltar for all Careers

Salary comparison by gender yearly Gibraltar
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Eligibility Specialist Average Annual Salary Increment Percentage in Gibraltar

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

Eligibility Specialist

Eligibility Specialist(s) in Gibraltar 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 Gibraltar 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.

Gibraltar / 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 Gibraltar is 2%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Listed above are the average annual increase rates for each industry in Gibraltar 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 Gibraltar

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Gibraltar 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 Gibraltar


19 GIP per hour

The average hourly wage (pay per hour) in Gibraltar is 19 GIP. This means that the average Eligibility Specialist in Gibraltar earns approximately 19 GIP 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 yearly Gibraltar
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The average salary for Eligibility Specialist is 4% 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 Analyst53,300 GIP+36%
Actuarial Assistant36,900 GIP-6%
Actuary53,400 GIP+36%
Adjustment Insurance Clerk15,100 GIP-62%
Assistant Broker25,700 GIP-34%
Assistant Claims Manager41,500 GIP+6%
Associate Insurance Representative20,100 GIP-49%
Auditing Insurance Manager59,200 GIP+51%
Broker38,700 GIP-1%
Claim Advocacy Professional39,600 GIP+1%
Claims Adjuster14,600 GIP-63%
Claims Analyst20,000 GIP-49%
Claims Examiner19,700 GIP-50%
Claims Manager58,000 GIP+48%
Claims Processor15,000 GIP-62%
Claims Representative17,700 GIP-55%
Claims Resolution Specialist41,800 GIP+7%
Claims Supervisor39,400 GIP+0%
Complaints Specialist37,200 GIP-5%
Compliance Officer32,600 GIP-17%
Consultant38,600 GIP-2%
Eligibility Specialist39,200 GIP-0%
Insurance Account Manager48,200 GIP+23%
Insurance Accounts Executive44,300 GIP+13%
Insurance Agent22,600 GIP-42%
Insurance Analyst37,600 GIP-4%
Insurance Appraiser40,100 GIP+2%
Insurance Claims Clerk14,600 GIP-63%
Insurance Examiner35,400 GIP-10%
Insurance Investigator35,800 GIP-9%
Insurance Manager66,700 GIP+70%
Insurance Operations Manager64,400 GIP+64%
Insurance Policy Processing Clerk15,300 GIP-61%
Insurance Pricing Assistant31,300 GIP-20%
Insurance Program Manager49,900 GIP+27%
Insurance Project Manager49,300 GIP+26%
Insurance Quality Assurance Agent35,400 GIP-10%
Insurance Sales Agent24,100 GIP-39%
Insurance Sales Director64,100 GIP+63%
Insurance Team Leader41,600 GIP+6%
Insurance Underwriter29,300 GIP-25%
Loss Control Specialist37,400 GIP-5%
Loss Prevention Investigator39,600 GIP+1%
Loss Prevention Manager54,400 GIP+39%
Loss Prevention Specialist43,300 GIP+10%
Marine Underwriter29,600 GIP-25%
Medical Auditor39,300 GIP+0%
Monitoring and Performance Officer28,500 GIP-27%
Payment Services Specialist38,200 GIP-3%
Policy Change Director58,900 GIP+50%
Policy Change Supervisor44,200 GIP+13%
Policy Change Technician19,500 GIP-50%
Risk Analyst43,500 GIP+11%
Risk Management Director74,100 GIP+89%
Risk Management Supervisor47,100 GIP+20%
Risk Manager76,100 GIP+94%
Risk Modeling Manager74,800 GIP+91%
Title Insurance Typist35,000 GIP-11%
Training Manager44,900 GIP+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 Gibraltar earn 18% more than their private sector counterparts on average across all sectors.

Private Sector
36,500 GIP
Public Sector+18%
43,000 GIP
Percentage increase and decrease are relative to the previous value

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