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Eligibility Specialist Average Salary in Guyana 2020

How much money does an Eligibility Specialist make in Guyana?


Average Monthly Salary
164,000 GYD
( 1,970,000 GYD yearly)

LOW
75,600
GYD
AVERAGE
164,000
GYD
HIGH
261,000
GYD

A person working as an Eligibility Specialist in Guyana typically earns around 164,000 GYD per month. Salaries range from 75,600 GYD (lowest) to 261,000 GYD (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 Guyana

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

  • Salary Range

    Eligibility Specialist salaries in Guyana range from 75,600 GYD per month (minimum salary) to 261,000 GYD per month (maximum salary).

  • Median Salary

    The median salary is 178,000 GYD per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 178,000 GYD while the other half are earning more than 178,000 GYD. 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 114,000 GYD while 75% of them are earning more than 114,000 GYD. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 237,000 GYD while 25% are earning more than 237,000 GYD.


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 Guyana 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 85,800 GYD per month.

While someone with an experience level between two and five years is expected to earn 115,000 GYD 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 169,000 GYD 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 207,000 GYD 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 225,000 GYD 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 244,000 GYD per month, 8% more than people with fifteen to twenty years of experience.


Eligibility Specialist average salary change by experience in Guyana

0 - 2 Years
85,800 GYD
2 - 5 Years+34%
115,000 GYD
5 - 10 Years+48%
169,000 GYD
10 - 15 Years+22%
207,000 GYD
15 - 20 Years+9%
225,000 GYD
20+ Years+8%
244,000 GYD
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 Guyana 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 99,800 GYD per month.

While someone with a Master's Degree gets a salary of 193,000 GYD per month, 93% more than someone having a Bachelor's Degree degree.


Eligibility Specialist average salary difference by education level in Guyana

Bachelor's Degree
99,800 GYD
Master's Degree+93%
193,000 GYD
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 Guyana costs anywhere from 876,000 Guyana Dollar(s) to 2,630,000 Guyana 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 Guyana 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 Guyana earn 12% more than their female counterparts on average.

Male
174,000 GYD
Female-11%
155,000 GYD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Guyana for all Careers

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

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

Eligibility Specialist

Eligibility Specialist(s) in Guyana 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 Guyana 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.

Guyana / 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 Guyana is 2%.

Annual Increment Rate By Industry 2019

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

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

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


950 GYD per hour

The average hourly wage (pay per hour) in Guyana is 950 GYD. This means that the average Eligibility Specialist in Guyana earns approximately 950 GYD 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 Guyana
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The average salary for Eligibility Specialist is 6% 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 Analyst230,000 GYD+40%
Actuarial Assistant161,000 GYD-2%
Actuary217,000 GYD+32%
Adjustment Insurance Clerk64,400 GYD-61%
Assistant Broker105,000 GYD-36%
Assistant Claims Manager188,000 GYD+14%
Associate Insurance Representative89,400 GYD-46%
Auditing Insurance Manager256,000 GYD+56%
Broker165,000 GYD+0%
Claim Advocacy Professional171,000 GYD+4%
Claims Adjuster63,500 GYD-61%
Claims Analyst88,300 GYD-46%
Claims Examiner87,700 GYD-47%
Claims Manager236,000 GYD+44%
Claims Processor61,800 GYD-62%
Claims Representative75,800 GYD-54%
Claims Resolution Specialist182,000 GYD+11%
Claims Supervisor164,000 GYD-0%
Complaints Specialist154,000 GYD-6%
Compliance Officer130,000 GYD-21%
Consultant160,000 GYD-3%
Eligibility Specialist164,000 GYD-0%
Insurance Account Manager212,000 GYD+29%
Insurance Accounts Executive175,000 GYD+6%
Insurance Agent102,000 GYD-38%
Insurance Analyst159,000 GYD-3%
Insurance Appraiser170,000 GYD+3%
Insurance Claims Clerk62,500 GYD-62%
Insurance Examiner153,000 GYD-7%
Insurance Investigator156,000 GYD-5%
Insurance Manager285,000 GYD+73%
Insurance Operations Manager293,000 GYD+78%
Insurance Policy Processing Clerk61,200 GYD-63%
Insurance Pricing Assistant138,000 GYD-16%
Insurance Program Manager220,000 GYD+34%
Insurance Project Manager204,000 GYD+24%
Insurance Quality Assurance Agent144,000 GYD-12%
Insurance Sales Agent97,200 GYD-41%
Insurance Sales Director279,000 GYD+70%
Insurance Team Leader174,000 GYD+6%
Insurance Underwriter127,000 GYD-23%
Loss Control Specialist157,000 GYD-4%
Loss Prevention Investigator167,000 GYD+2%
Loss Prevention Manager233,000 GYD+42%
Loss Prevention Specialist187,000 GYD+14%
Marine Underwriter123,000 GYD-25%
Medical Auditor168,000 GYD+2%
Monitoring and Performance Officer116,000 GYD-29%
Payment Services Specialist161,000 GYD-2%
Policy Change Director252,000 GYD+53%
Policy Change Supervisor173,000 GYD+5%
Policy Change Technician85,000 GYD-48%
Risk Analyst194,000 GYD+18%
Risk Management Director333,000 GYD+100%
Risk Management Supervisor214,000 GYD+30%
Risk Manager316,000 GYD+92%
Risk Modeling Manager314,000 GYD+91%
Title Insurance Typist145,000 GYD-12%
Training Manager183,000 GYD+11%

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 Guyana earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
166,000 GYD
Public Sector+14%
189,000 GYD
Percentage increase and decrease are relative to the previous value

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