A person working as an Eligibility Specialist in Honduras typically earns around 26,400 HNL per month. Salaries range from 12,100 HNL (lowest) to 42,000 HNL (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 salaries in Honduras range from 12,100 HNL per month (minimum salary) to 42,000 HNL per month (maximum salary).
The median salary is 28,500 HNL per month, which means that half (50%) of people working as Eligibility Specialist(s) are earning less than 28,500 HNL while the other half are earning more than 28,500 HNL. 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.
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 18,300 HNL while 75% of them are earning more than 18,300 HNL. Also from the diagram, 75% of Eligibility Specialist(s) are earning less than 38,100 HNL while 25% are earning more than 38,100 HNL.
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
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 13,800 HNL per month.
While someone with an experience level between two and five years is expected to earn 18,400 HNL 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 27,200 HNL 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 33,200 HNL 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 36,200 HNL 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 39,200 HNL per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+48%|
|10 - 15 Years||+22%|
|15 - 20 Years||+9%|
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 16,000 HNL per month.
While someone with a Master's Degree gets a salary of 30,900 HNL per month, 93% more than someone having a Bachelor's Degree degree.
A Master's degree program or any post-graduate program in Honduras costs anywhere from 141,000 Lempira(s) to 422,000 Lempira(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.
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 Honduras earn 15% more than their female counterparts on average.
Eligibility Specialist(s) in Honduras are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
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.
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 Honduras 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.
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.
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.
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.
The average salary for Eligibility Specialist is 6% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||36,200 HNL||+37%|
|Actuarial Assistant||25,400 HNL||-4%|
|Adjustment Insurance Clerk||10,100 HNL||-62%|
|Assistant Broker||16,500 HNL||-38%|
|Assistant Claims Manager||28,600 HNL||+8%|
|Associate Insurance Representative||14,500 HNL||-45%|
|Auditing Insurance Manager||40,200 HNL||+52%|
|Claim Advocacy Professional||26,600 HNL||+1%|
|Claims Adjuster||10,000 HNL||-62%|
|Claims Analyst||14,000 HNL||-47%|
|Claims Examiner||13,900 HNL||-47%|
|Claims Manager||37,600 HNL||+42%|
|Claims Processor||9,860 HNL||-63%|
|Claims Representative||11,600 HNL||-56%|
|Claims Resolution Specialist||28,500 HNL||+8%|
|Claims Supervisor||26,200 HNL||-1%|
|Complaints Specialist||25,200 HNL||-5%|
|Compliance Officer||21,600 HNL||-18%|
|Eligibility Specialist||26,400 HNL||-0%|
|Insurance Account Manager||34,300 HNL||+30%|
|Insurance Accounts Executive||29,100 HNL||+10%|
|Insurance Agent||16,500 HNL||-38%|
|Insurance Analyst||25,600 HNL||-3%|
|Insurance Appraiser||25,800 HNL||-2%|
|Insurance Claims Clerk||9,500 HNL||-64%|
|Insurance Examiner||25,800 HNL||-2%|
|Insurance Investigator||26,400 HNL||-0%|
|Insurance Manager||45,600 HNL||+73%|
|Insurance Operations Manager||48,100 HNL||+82%|
|Insurance Policy Processing Clerk||10,400 HNL||-61%|
|Insurance Pricing Assistant||20,300 HNL||-23%|
|Insurance Program Manager||34,400 HNL||+30%|
|Insurance Project Manager||35,400 HNL||+34%|
|Insurance Quality Assurance Agent||23,000 HNL||-13%|
|Insurance Sales Agent||16,500 HNL||-38%|
|Insurance Sales Director||44,100 HNL||+67%|
|Insurance Team Leader||28,300 HNL||+7%|
|Insurance Underwriter||19,700 HNL||-25%|
|Loss Control Specialist||24,900 HNL||-6%|
|Loss Prevention Investigator||26,700 HNL||+1%|
|Loss Prevention Manager||37,200 HNL||+41%|
|Loss Prevention Specialist||30,000 HNL||+14%|
|Marine Underwriter||19,600 HNL||-26%|
|Medical Auditor||26,900 HNL||+2%|
|Monitoring and Performance Officer||18,100 HNL||-31%|
|Payment Services Specialist||25,800 HNL||-2%|
|Policy Change Director||40,700 HNL||+54%|
|Policy Change Supervisor||28,000 HNL||+6%|
|Policy Change Technician||12,500 HNL||-53%|
|Risk Analyst||28,600 HNL||+8%|
|Risk Management Director||49,400 HNL||+87%|
|Risk Management Supervisor||35,100 HNL||+33%|
|Risk Manager||52,100 HNL||+97%|
|Risk Modeling Manager||51,900 HNL||+97%|
|Title Insurance Typist||24,000 HNL||-9%|
|Training Manager||28,800 HNL||+9%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Honduras earn 14% more than their private sector counterparts on average across all sectors.