Average Approval Team Manager Salary in Chile for 2024

In this article, we will look at the average Approval Team Manager salary for 2024 in Chile 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 Chilean peso. To keep things simple, we are using the CLP currency code instead of the currency symbol $.

How Much Does an Approval Team Manager Make in Chile?

An Approval Team Manager working in Chile will typically earn around 26,158,200 CLP per year, and this can range from the lowest average salary of about 12,600,600 CLP to the highest average salary of 41,040,700 CLP.

Average Annual Salary
26,158,200 CLP
Average Monthly Salary
2,179,850 CLP

Lowest Annual Salary
12,600,600 CLP
Lowest Monthly Salary
1,050,050 CLP

Highest Annual Salary
41,040,700 CLP
Highest Monthly Salary
3,420,058 CLP

These are average salaries for an Approval Team Manager in Chile and include benefits such as housing and transport. It's also possible for an Approval Team Manager to earn more or less than the average salaries shown above.

Approval Team Manager 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 Approval Team Manager Salaries in Chile

So we've looked at the average salaries an Approval Team Manager will earn in Chile. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Approval Team Manager can earn between 12,600,600 CLP and 41,040,700 CLP on average in Chile. 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 Approval Team Manager in Chile is 27,241,100 CLP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 27,241,100 CLP, and 50% of the population earn more than 27,241,100 CLP.

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 Approval Team Manager salary in Chile, 25% of the population are earning less than 17,879,000 CLP while 75% of the population earn more than 17,879,000 CLP.

75% of the population earn less than 35,521,100 CLP, and 25% of the population earn more than 35,521,100 CLP.

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.

Approval Team Manager Salary by Experience Level in Chile

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 approval team manager 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 Approval Team Manager in Chile that has less than two years of experience can expect to earn somewhere in the region of 14,639,900 CLP.
  • 2 - 5 Years Experience. With two to five years of experience the average Approval Team Manager salary would increase to 20,760,500 CLP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Approval Team Manager, the average salary would be 27,361,200 CLP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 33,599,200 CLP.
  • 15 - 20 Years Experience. An Approval Team Manager with 15 to 20 years of experience can earn an average of 35,758,400 CLP.
  • 20+ Years Experience. For an Approval Team Manager with more than 20 years, the expected average salary increases to 39,119,300 CLP.

Average Salary by Experience Chart

0-2 Years
14,639,900 CLP
2-5 Years +42%
20,760,500 CLP
5-10 Years +31%
27,361,200 CLP
10-15 Years +23%
33,599,200 CLP
15-20 Years +6%
35,758,400 CLP
20+ Years +10%
39,119,300 CLP

Approval Team Manager Salary by Education Level in Chile

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 Approval Team Manager in Chile based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Approval Team Manager in Chile with a bachelor's degree education can earn an average salary of 23,040,200 CLP.

  • Master's Degree. An Approval Team Manager in Chile with a master's degree education can earn an average salary of 33,001,000 CLP.

Average Salary by Education Chart

Bachelor's Degree
23,040,200 CLP
Master's Degree +43%
33,001,000 CLP

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 Chile is around 9,340,000 to 28,000,000 CLP 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.

Approval Team Manager 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 Chile, a male approval team manager will earn an average of 27,118,300 CLP, while a female approval team manager will earn around 25,561,400 CLP.

This means that a male approval team manager earns approximately 6% more than a female approval team manager for performing the same job.

Average Salary by Gender Chart in Chile

Male
27,118,300 CLP
Female -6%
25,561,400 CLP

Approval Team Manager Average Pay Raise in Chile

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 Approval Team Manager in Chile is around 10% every 21 months.

The national average pay raise across all professions and industries in Chile is around 7% every 19 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 = ( 10 ÷ 21 ) × 12  = 6%

What this means is that an Approval Team Manager in Chile can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Chile for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Approval Team Manager Bonus and Incentive Rates in Chile

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 Approval Team Manager is a moderate bonus based job, with 56% of employees reporting at least one bonus in the last 12 months.

44% 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 3% to 6%.

Received Bonus
56%
No Bonus
44%

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 Chile earn approximately 7% more than private sector employees in the same role.

Public Sector
23,399,000 CLP
Private Sector -7%
21,841,900 CLP

Salaries for Jobs Similar to an Approval Team Manager

In the table below, we have salary information for jobs that are similar to an Approval Team Manager in Chile.

Job Title Category Salary
Assistant Quality Manager Quality Control and Compliance 24,119,700 CLP
Compliance Officer Quality Control and Compliance 13,679,300 CLP
Document Analyst Quality Control and Compliance 12,121,000 CLP
Document Control Officer Quality Control and Compliance 10,907,900 CLP
Document Control Specialist Quality Control and Compliance 12,361,500 CLP
HACCP Coordinator Quality Control and Compliance 13,319,300 CLP
Inspection Supervisor Quality Control and Compliance 22,681,800 CLP
Internal Compliance Officer Quality Control and Compliance 14,760,200 CLP
Product Complaints Associate Quality Control and Compliance 14,038,300 CLP
Product Owner Quality Control and Compliance 25,440,400 CLP
Product Quality Leader Quality Control and Compliance 27,479,000 CLP
QMS Coordinator Quality Control and Compliance 14,519,400 CLP
Quality and Safety Site Leader Quality Control and Compliance 25,561,400 CLP
Quality Assurance Administrator Quality Control and Compliance 22,681,800 CLP
Quality Assurance Analyst Quality Control and Compliance 25,919,400 CLP
Quality Assurance Associate Quality Control and Compliance 14,400,800 CLP
Quality Assurance Auditor Quality Control and Compliance 22,081,800 CLP
Quality Assurance Document Control Quality Control and Compliance 10,141,000 CLP
Quality Assurance Engineer Quality Control and Compliance 14,400,800 CLP
Quality Assurance Executive Quality Control and Compliance 32,038,500 CLP
Quality Assurance Inspector Quality Control and Compliance 21,478,100 CLP
Quality Assurance Manager Quality Control and Compliance 35,758,400 CLP
Quality Assurance Specialist Quality Control and Compliance 22,441,700 CLP
Quality Assurance Supervisor Quality Control and Compliance 25,679,100 CLP
Quality Assurance Technician Quality Control and Compliance 12,481,200 CLP
Quality Assurance Tester Quality Control and Compliance 12,958,200 CLP
Quality Control Analyst Quality Control and Compliance 23,280,700 CLP
Quality Control and Compliance Officer Quality Control and Compliance 14,400,800 CLP
Quality Control and Quality Assurance Officer Quality Control and Compliance 15,001,200 CLP
Quality Control Auditor Quality Control and Compliance 20,159,800 CLP
Quality Control Chemist Quality Control and Compliance 24,119,700 CLP
Quality Control Coordinator Quality Control and Compliance 15,118,700 CLP
Quality Control Engineer Quality Control and Compliance 13,441,600 CLP
Quality Control Executive Quality Control and Compliance 35,159,900 CLP
Quality Control Manager Quality Control and Compliance 34,919,600 CLP
Quality Control Supervisor Quality Control and Compliance 24,359,000 CLP
Quality Control Technician Quality Control and Compliance 13,199,100 CLP
Quality Data Analyst Quality Control and Compliance 20,878,800 CLP
Quality Director Quality Control and Compliance 35,878,200 CLP
Quality Engineer Quality Control and Compliance 13,561,900 CLP
Quality Executive Quality Control and Compliance 27,001,700 CLP
Quality Improvement Coordinator Quality Control and Compliance 14,880,300 CLP
Quality Management Officer Quality Control and Compliance 13,561,900 CLP
Quality Manager Quality Control and Compliance 36,841,600 CLP
Quality Surveyor Quality Control and Compliance 20,878,800 CLP
Quality Trainer Quality Control and Compliance 25,919,400 CLP
Six Sigma Black Belt Quality Control and Compliance 29,881,100 CLP

Salary Comparison by City

If you want to compare salaries with different cities in Chile, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Antofagasta 27,841,200 CLP
Concepcion 24,478,500 CLP
La Florida 28,679,900 CLP
Las Condes 26,520,600 CLP
Maipu 29,161,000 CLP
Penalolen 24,958,800 CLP
Puente Alto 29,641,500 CLP
Rancagua 24,119,700 CLP
San Bernardo 26,040,800 CLP
Santiago 30,360,800 CLP
Temuco 25,679,100 CLP
Valparaiso 27,241,100 CLP
Vina del Mar 28,318,900 CLP

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