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Eligibility Specialist Average Salary in Honduras 2020

How much money does an Eligibility Specialist make in Honduras?


Average Monthly Salary
26,400 HNL
( 317,000 HNL yearly)

LOW
12,100
HNL
AVERAGE
26,400
HNL
HIGH
42,000
HNL

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 Salary Distribution in Honduras

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

  • Salary Range

    Eligibility Specialist salaries in Honduras range from 12,100 HNL per month (minimum salary) to 42,000 HNL per month (maximum salary).

  • Median 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.

  • 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 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.


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 Honduras 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 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.

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 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.


Eligibility Specialist average salary change by experience in Honduras

0 - 2 Years
13,800 HNL
2 - 5 Years+34%
18,400 HNL
5 - 10 Years+48%
27,200 HNL
10 - 15 Years+22%
33,200 HNL
15 - 20 Years+9%
36,200 HNL
20+ Years+8%
39,200 HNL
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 Honduras 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 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.


Eligibility Specialist average salary difference by education level in Honduras

Bachelor's Degree
16,000 HNL
Master's Degree+93%
30,900 HNL
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 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.


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 Honduras 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 Honduras earn 15% more than their female counterparts on average.

Male
28,200 HNL
Female-13%
24,600 HNL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Honduras for all Careers

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

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

Eligibility Specialist

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.

Annual Salary Increment Rate Honduras 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.

Honduras / 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 Honduras is 2%.

Annual Increment Rate By Industry 2019

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

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.


Worldwide Salary Raises: All Countries and All Jobs

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Eligibility Specialist Bonus and Incentive Rates in Honduras

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


150 HNL per hour

The average hourly wage (pay per hour) in Honduras is 150 HNL. This means that the average Eligibility Specialist in Honduras earns approximately 150 HNL 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 Honduras
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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 Analyst36,200 HNL+37%
Actuarial Assistant25,400 HNL-4%
Actuary37,100 HNL+40%
Adjustment Insurance Clerk10,100 HNL-62%
Assistant Broker16,500 HNL-38%
Assistant Claims Manager28,600 HNL+8%
Associate Insurance Representative14,500 HNL-45%
Auditing Insurance Manager40,200 HNL+52%
Broker27,300 HNL+3%
Claim Advocacy Professional26,600 HNL+1%
Claims Adjuster10,000 HNL-62%
Claims Analyst14,000 HNL-47%
Claims Examiner13,900 HNL-47%
Claims Manager37,600 HNL+42%
Claims Processor9,860 HNL-63%
Claims Representative11,600 HNL-56%
Claims Resolution Specialist28,500 HNL+8%
Claims Supervisor26,200 HNL-1%
Complaints Specialist25,200 HNL-5%
Compliance Officer21,600 HNL-18%
Consultant27,800 HNL+5%
Eligibility Specialist26,400 HNL-0%
Insurance Account Manager34,300 HNL+30%
Insurance Accounts Executive29,100 HNL+10%
Insurance Agent16,500 HNL-38%
Insurance Analyst25,600 HNL-3%
Insurance Appraiser25,800 HNL-2%
Insurance Claims Clerk9,500 HNL-64%
Insurance Examiner25,800 HNL-2%
Insurance Investigator26,400 HNL-0%
Insurance Manager45,600 HNL+73%
Insurance Operations Manager48,100 HNL+82%
Insurance Policy Processing Clerk10,400 HNL-61%
Insurance Pricing Assistant20,300 HNL-23%
Insurance Program Manager34,400 HNL+30%
Insurance Project Manager35,400 HNL+34%
Insurance Quality Assurance Agent23,000 HNL-13%
Insurance Sales Agent16,500 HNL-38%
Insurance Sales Director44,100 HNL+67%
Insurance Team Leader28,300 HNL+7%
Insurance Underwriter19,700 HNL-25%
Loss Control Specialist24,900 HNL-6%
Loss Prevention Investigator26,700 HNL+1%
Loss Prevention Manager37,200 HNL+41%
Loss Prevention Specialist30,000 HNL+14%
Marine Underwriter19,600 HNL-26%
Medical Auditor26,900 HNL+2%
Monitoring and Performance Officer18,100 HNL-31%
Payment Services Specialist25,800 HNL-2%
Policy Change Director40,700 HNL+54%
Policy Change Supervisor28,000 HNL+6%
Policy Change Technician12,500 HNL-53%
Risk Analyst28,600 HNL+8%
Risk Management Director49,400 HNL+87%
Risk Management Supervisor35,100 HNL+33%
Risk Manager52,100 HNL+97%
Risk Modeling Manager51,900 HNL+97%
Title Insurance Typist24,000 HNL-9%
Training Manager28,800 HNL+9%

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

Private Sector
25,900 HNL
Public Sector+14%
29,500 HNL
Percentage increase and decrease are relative to the previous value

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