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Loan Quality Assurance Auditor Average Salary in Cyprus 2024

How much money does a person working as Loan Quality Assurance Auditor make in Cyprus?

Average Monthly Salary
2,380 EUR
( 28,500 EUR yearly)

All salary figures displayed here are per month except when noted otherwise.
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.

A person working as Loan Quality Assurance Auditor in Cyprus typically earns around 2,380 EUR. Salaries range from 1,280 EUR (lowest) to 3,590 EUR (highest).

Salary Variance

This is the average salary including housing, transport, and other benefits. Loan Quality Assurance Auditor salaries in Cyprus vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Loan Quality Assurance Auditor Pay Scale and Salaries in Cyprus

Median and salary distribution Cyprus Loan Quality Assurance Auditor monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
2,120 EUR or more
10% of people earn
1,900 to 2,120 EUR
20% of people earn
1,410 EUR or less
65% of people earn
1,410 to 1,900 EUR
Minimum Salary
1,280 EUR
2,130 EUR
3,590 EUR

Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Loan Quality Assurance Auditor in Cyprus range from 1,280 EUR (starting salary) to 3,590 EUR (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.

  • Median Salary

    With a median salary of 2,130 EUR, half of the professionals who work as Loan Quality Assurance Auditor in Cyprus 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.

  • Percentiles and Salary Scale

    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 Loan Quality Assurance Auditor in Cyprus earn less than 1,780 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 2,400 EUR while 25% earn more.

  • Pay Scale Structure

    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 Loan Quality Assurance Auditor in Cyprus compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,410 EUR to 1,900 EUR. About 20% of salaries are below the 1,410 EUR mark, while 10% fall within the range of 1,900 EUR to 2,120 EUR. Only 5% of individuals have salaries exceeding 2,120 EUR.

Salary Comparison by Years of Experience / Loan Quality Assurance Auditor / Cyprus

How do experience and age affect pay?

0 - 2 Years
1,490 EUR
2 - 5 Years+26%
1,880 EUR
5 - 10 Years+32%
2,480 EUR
10 - 15 Years+18%
2,920 EUR
15 - 20 Years+11%
3,230 EUR
20+ Years+6%
3,440 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Cyprus Loan Quality Assurance Auditor
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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 Loan Quality Assurance Auditor and this is what we found.

All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 1,490 EUR.

While someone with an experience level between two and five years is expected to earn 1,880 EUR, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 2,480 EUR, 32% 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 2,920 EUR, 18% 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 3,230 EUR, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 3,440 EUR, 6% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Loan Quality Assurance Auditor / Cyprus

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Loan Quality Assurance Auditor.

Bachelor's Degree
1,930 EUR
Master's Degree+53%
2,950 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Cyprus Loan Quality Assurance Auditor
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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 salaries by education level for the position Loan Quality Assurance Auditor in order to make a comparison.

Level 1: Bachelor's Degree

Employees at this education level have an average salary of 1,930 EUR.

Level 2: Master's Degree

At this level, the average salary becomes 2,950 EUR, 53% more than the previous level.

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 Cyprus costs anywhere from 10,900 EUR to 32,600 EUR 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.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Loan Quality Assurance Auditor / Cyprus

Salary comparison by gender Cyprus Loan Quality Assurance Auditor monthly
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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? For the people who work as Loan Quality Assurance Auditor in Cyprus, the average difference between the salary of male and female employees is 5%.

2,430 EUR
2,310 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Cyprus for all Careers

Salary comparison by gender monthly Cyprus
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Average Annual Salary Increment Percentage / Loan Quality Assurance Auditor / Cyprus

How much are annual salary increments in Cyprus for individuals working as Loan Quality Assurance Auditor? How often do employees get salary raises?

Individuals working as Loan Quality Assurance Auditor in Cyprus are likely to observe a salary increase of approximately 9% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Cyprus Loan Quality Assurance Auditor
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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.

Cyprus / All Professions

Annual Salary Increment Rate Cyprus
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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.

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 Cyprus is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

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.

Bonus and Incentive Rates / Loan Quality Assurance Auditor / Cyprus

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Cyprus Loan Quality Assurance Auditor
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42% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 58% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Average Hourly Wage / Loan Quality Assurance Auditor / Cyprus

14 EUR per hour

The average hourly wage (pay per hour) for individuals working as Loan Quality Assurance Auditor in Cyprus is 14 EUR.This is the rate they get paid for every worked hour.

Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Loan Quality Assurance Auditor in Cyprus is 7 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
AML Analyst3,450 EUR+45%
Assistant Bank Branch Manager2,920 EUR+23%
Assistant Bank Manager3,720 EUR+56%
ATM Manager3,000 EUR+26%
ATM Service Technician880 EUR-63%
Bank Accounts Analyst1,270 EUR-47%
Bank Accounts Collector730 EUR-69%
Bank Accounts Controller1,650 EUR-31%
Bank Accounts Executive2,350 EUR-1%
Bank Accounts Manager2,880 EUR+21%
Bank Auditing Manager2,700 EUR+14%
Bank Branch Manager3,770 EUR+59%
Bank Branch Operations Coordinator1,680 EUR-29%
Bank Clerk720 EUR-70%
Bank Client Service Associate1,010 EUR-58%
Bank Collector740 EUR-69%
Bank Compliance Specialist2,080 EUR-13%
Bank Manager4,540 EUR+91%
Bank Operational Risk Manager4,300 EUR+81%
Bank Operations Head4,590 EUR+93%
Bank Operations Officer1,820 EUR-23%
Bank Operations Specialist2,720 EUR+14%
Bank Process Manager2,600 EUR+9%
Bank Product Manager 2,790 EUR+17%
Bank Programme Manager3,190 EUR+34%
Bank Project Manager3,440 EUR+45%
Bank Propositions Manager3,160 EUR+33%
Bank Quantitative Analyst2,210 EUR-7%
Bank Regional Manager4,640 EUR+95%
Bank Regional Risk Officer2,340 EUR-2%
Bank Relationship Manager3,250 EUR+37%
Bank Relationship Officer1,540 EUR-35%
Bank Sustainability Analyst2,610 EUR+10%
Bank Teller770 EUR-68%
Banker1,580 EUR-34%
Banking Business Analyst2,380 EUR+0%
Banking Business Development Officer1,480 EUR-38%
Banking Business Planning Executive3,390 EUR+43%
Banking Data Analyst2,830 EUR+19%
Banking Product Manager2,810 EUR+18%
Banking Reference Data Manager2,450 EUR+3%
Banking Regulatory Compliance Officer2,780 EUR+17%
Banking Risk Analyst2,420 EUR+2%
Banking Technical Analyst1,250 EUR-47%
Bankruptcy Coordinator1,710 EUR-28%
Bill and Account Collector860 EUR-64%
Blockchain Analyst2,000 EUR-16%
Blockchain Architect2,220 EUR-7%
Blockchain Auditor2,090 EUR-12%
Blockchain Compliance Analyst2,060 EUR-13%
Blockchain Consultant2,280 EUR-4%
Blockchain Trade Facilitator1,940 EUR-18%
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Check Processing Manager3,100 EUR+30%
Chief Blockchain Officer2,500 EUR+5%
Commercial Vault Associate2,350 EUR-1%
Corporate Banker1,630 EUR-31%
Corporate Dealer2,380 EUR+0%
Credit Analyst1,800 EUR-24%
Credit and Collections Manager3,300 EUR+39%
Credit Card Fraud Investigator2,420 EUR+2%
Credit Portfolio Manager4,530 EUR+90%
Credit Risk Analyst2,720 EUR+14%
Credit Risk Associate2,470 EUR+4%
Cryptocurrency Accountant1,450 EUR-39%
Cryptocurrency Adviser2,970 EUR+25%
Cryptocurrency Analyst2,130 EUR-10%
Cryptocurrency Compliance Manager2,800 EUR+18%
Cryptocurrency Trader2,400 EUR+1%
Digital Banking Manager3,230 EUR+36%
Digital Currency Analyst2,320 EUR-2%
Direct Bank Sales Representative1,590 EUR-33%
Exchange Control Consultant2,440 EUR+3%
Executive Account Analyst2,300 EUR-3%
Financial Bank Planning Consultant2,970 EUR+25%
Financial Banking Analysis Manager3,340 EUR+40%
Financial Banking Assistant1,150 EUR-52%
Financial Banking Systems Manager3,130 EUR+32%
Foreign Exchange Manager3,540 EUR+49%
Fraud Analyst2,470 EUR+4%
Fraud Detection Associate1,680 EUR-29%
Fraud Detection Manager3,580 EUR+51%
Fraud Detection Supervisor2,140 EUR-10%
Internal Bank Audit Manager4,090 EUR+72%
Internal Bank Auditor2,300 EUR-3%
Internal Private Banker1,730 EUR-27%
International Banking Manager4,660 EUR+96%
Investment Banking Analyst3,240 EUR+36%
Loan Analyst2,320 EUR-2%
Loan Area Manager2,970 EUR+25%
Loan Audit Team Leader2,780 EUR+17%
Loan Branch Manager2,640 EUR+11%
Loan Business Development Officer1,360 EUR-43%
Loan Clerk840 EUR-65%
Loan Collection and Recovery Manager2,880 EUR+21%
Loan Collection Manager2,720 EUR+14%
Loan Collector750 EUR-68%
Loan Examiner1,060 EUR-55%
Loan Officer880 EUR-63%
Loan Processing Manager2,500 EUR+5%
Loan Processor1,110 EUR-53%
Loan Quality Assurance Auditor2,380 EUR+0%
Loan Quality Assurance Manager2,530 EUR+6%
Loan Quality Assurance Representative1,790 EUR-25%
Loan Review Manager2,580 EUR+8%
Loan Team Leader2,440 EUR+3%
Loans Manager3,190 EUR+34%
Mortgage Advisor1,600 EUR-33%
Mortgage Collection Manager2,860 EUR+20%
Mortgage Collector760 EUR-68%
Mortgage Credit Analyst1,190 EUR-50%
Mortgage Credit Manager2,640 EUR+11%
Mortgage Development Manager2,890 EUR+22%
Mortgage Document Reviewer1,040 EUR-56%
Mortgage Funding Manager2,960 EUR+24%
Mortgage Operations Manager3,880 EUR+63%
Mortgage Payment Processing Clerk910 EUR-62%
Mortgage Processing Manager2,770 EUR+16%
Mortgage Processor1,040 EUR-56%
Mortgage Quality Assurance Auditor2,240 EUR-6%
Mortgage Quality Assurance Manager2,710 EUR+14%
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Tax Officer1,430 EUR-40%
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Government vs Private Sector Salary Comparison

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 Cyprus is 18% on average across all career fields.

Private Sector
1,950 EUR
Public Sector+18%
2,300 EUR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Loan Quality Assurance Auditor in Cyprus?

A good and competitive compensation would range anywhere between 2,130 EUR and 2,400 EUR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

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.

Base / Basic Salary

The base salary for a careers like Loan Quality Assurance Auditor in Cyprus ranges from 1,280 EUR to 1,780 EUR. 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.

What is the difference between the median and the average salary?

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

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