Average Adjustment Insurance Clerk Salary in Grenada for 2024

In this article, we will look at the average Adjustment Insurance Clerk salary for 2024 in Grenada and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does an Adjustment Insurance Clerk Make in Grenada?

An Adjustment Insurance Clerk working in Grenada will typically earn around 29,040 XCD per year, and this can range from the lowest average salary of about 11,880 XCD to the highest average salary of 42,040 XCD.

Average Annual Salary
29,040 XCD
Average Monthly Salary
2,420 XCD

Lowest Annual Salary
11,880 XCD
Lowest Monthly Salary
990 XCD

Highest Annual Salary
42,040 XCD
Highest Monthly Salary
3,503 XCD

These are average salaries for an Adjustment Insurance Clerk in Grenada and include benefits such as housing and transport. It's also possible for an Adjustment Insurance Clerk to earn more or less than the average salaries shown above.

Adjustment Insurance Clerk salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Adjustment Insurance Clerk Salaries in Grenada

So we've looked at the average salaries an Adjustment Insurance Clerk will earn in Grenada. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Adjustment Insurance Clerk can earn between 11,880 XCD and 42,040 XCD on average in Grenada. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Adjustment Insurance Clerk in Grenada is 29,040 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 29,040 XCD, and 50% of the population earn more than 29,040 XCD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Adjustment Insurance Clerk salary in Grenada, 25% of the population are earning less than 17,760 XCD while 75% of the population earn more than 17,760 XCD.

75% of the population earn less than 35,300 XCD, and 25% of the population earn more than 35,300 XCD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Adjustment Insurance Clerk Salary by Experience Level in Grenada

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average adjustment insurance clerk salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Adjustment Insurance Clerk in Grenada that has less than two years of experience can expect to earn somewhere in the region of 17,620 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Adjustment Insurance Clerk salary would increase to 20,000 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Adjustment Insurance Clerk, the average salary would be 27,020 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 34,960 XCD.
  • 15 - 20 Years Experience. An Adjustment Insurance Clerk with 15 to 20 years of experience can earn an average of 36,700 XCD.
  • 20+ Years Experience. For an Adjustment Insurance Clerk with more than 20 years, the expected average salary increases to 39,560 XCD.

Average Salary by Experience Chart

0-2 Years
17,620 XCD
2-5 Years +32%
20,000 XCD
5-10 Years +34%
27,020 XCD
10-15 Years +19%
34,960 XCD
15-20 Years +8%
36,700 XCD
20+ Years +7%
39,560 XCD

Adjustment Insurance Clerk Salary by Education Level in Grenada

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Adjustment Insurance Clerk in Grenada based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. An Adjustment Insurance Clerk in Grenada with a certificate or diploma education can earn an average salary of 23,140 XCD.

  • Bachelor's Degree. An Adjustment Insurance Clerk in Grenada with a bachelor's degree education can earn an average salary of 37,380 XCD.

Average Salary by Education Chart

Certificate or Diploma
23,140 XCD
Bachelor's Degree +56%
37,380 XCD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Grenada is around 31,300 to 94,000 XCD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Adjustment Insurance Clerk Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Grenada, a male adjustment insurance clerk will earn an average of 26,280 XCD, while a female adjustment insurance clerk will earn around 26,080 XCD.

This means that a male adjustment insurance clerk earns approximately 1% more than a female adjustment insurance clerk for performing the same job.

Average Salary by Gender Chart in Grenada

Male
26,280 XCD
Female -1%
26,080 XCD

Adjustment Insurance Clerk Average Pay Raise in Grenada

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Adjustment Insurance Clerk in Grenada is around 7% every 27 months.

The national average pay raise across all professions and industries in Grenada is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 7 ÷ 27 ) × 12  = 3%

What this means is that an Adjustment Insurance Clerk in Grenada can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Grenada for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Grenada.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Adjustment Insurance Clerk Bonus and Incentive Rates in Grenada

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Adjustment Insurance Clerk is a low bonus based job, with 11% of employees reporting at least one bonus in the last 12 months.

89% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 0% to 3%.

Received Bonus
11%
No Bonus
89%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Grenada earn approximately 11% more than private sector employees in the same role.

Public Sector
78,500 XCD
Private Sector -11%
70,840 XCD

Salaries for Jobs Similar to an Adjustment Insurance Clerk

In the table below, we have salary information for jobs that are similar to an Adjustment Insurance Clerk in Grenada.

Job Title Category Salary
Actuarial Analyst Insurance 98,140 XCD
Actuarial Assistant Insurance 67,900 XCD
Actuarial Specialist Insurance 66,680 XCD
Actuary Insurance 96,980 XCD
Assistant Broker Insurance 48,200 XCD
Assistant Claims Manager Insurance 80,480 XCD
Associate Insurance Representative Insurance 39,160 XCD
Auditing Insurance Manager Insurance 107,320 XCD
Broker Insurance 73,880 XCD
Claim Advocacy Professional Insurance 72,360 XCD
Claims Adjuster Insurance 25,720 XCD
Claims Analyst Insurance 36,800 XCD
Claims Examiner Insurance 37,620 XCD
Claims Manager Insurance 106,780 XCD
Claims Processor Insurance 27,620 XCD
Claims Representative Insurance 31,340 XCD
Claims Resolution Specialist Insurance 77,060 XCD
Claims Supervisor Insurance 74,540 XCD
Complaints Specialist Insurance 61,760 XCD
Compliance Examiner Insurance 65,080 XCD
Compliance Officer Insurance 58,440 XCD
Compliance Reviewer Insurance 64,180 XCD
Consultant Insurance 69,060 XCD
Eligibility Interviewer Insurance 73,100 XCD
Eligibility Specialist Insurance 73,820 XCD
Insurance Account Manager Insurance 91,560 XCD
Insurance Accounts Executive Insurance 78,420 XCD
Insurance Adjuster Insurance 69,040 XCD
Insurance Agent Insurance 43,360 XCD
Insurance Analyst Insurance 69,060 XCD
Insurance Appraiser Insurance 71,020 XCD
Insurance Claims Clerk Insurance 27,380 XCD
Insurance Examiner Insurance 68,400 XCD
Insurance Investigator Insurance 69,060 XCD
Insurance Manager Insurance 125,100 XCD
Insurance Operations Manager Insurance 123,400 XCD
Insurance Policy Processing Clerk Insurance 29,040 XCD
Insurance Pricing Assistant Insurance 60,400 XCD
Insurance Program Manager Insurance 97,900 XCD
Insurance Project Manager Insurance 88,480 XCD
Insurance Quality Assurance Agent Insurance 65,760 XCD
Insurance Sales Agent Insurance 43,260 XCD
Insurance Sales Director Insurance 115,740 XCD
Insurance Sales Manager Insurance 99,340 XCD
Insurance Sales Representative Insurance 36,580 XCD
Insurance Team Leader Insurance 79,280 XCD
Insurance Underwriter Insurance 52,380 XCD
Loss Control Specialist Insurance 66,840 XCD
Loss Prevention Investigator Insurance 74,540 XCD
Loss Prevention Manager Insurance 98,960 XCD
Loss Prevention Specialist Insurance 78,260 XCD
Marine Underwriter Insurance 54,700 XCD
Medical Auditor Insurance 73,820 XCD
Monitoring and Performance Officer Insurance 50,660 XCD
Payment Services Specialist Insurance 71,020 XCD
Policy Change Director Insurance 108,340 XCD
Policy Change Supervisor Insurance 73,980 XCD
Policy Change Technician Insurance 36,800 XCD
Risk Analyst Insurance 80,280 XCD
Risk Management Director Insurance 138,800 XCD
Risk Management Supervisor Insurance 88,300 XCD
Risk Manager Insurance 128,900 XCD
Risk Modeling Manager Insurance 128,500 XCD
Title Insurance Typist Insurance 59,660 XCD
Training Manager Insurance 80,520 XCD

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