Average Arbitrator Salary in Bosnia and Herzegovina for 2024

In this article, we will look at the average Arbitrator salary for 2024 in Bosnia and Herzegovina 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 Bosnia and Herzegovina convertible mark. To keep things simple, we are using the BAM currency code instead of the currency symbol .

How Much Does an Arbitrator Make in Bosnia and Herzegovina?

An Arbitrator working in Bosnia and Herzegovina will typically earn around 35,340 BAM per year, and this can range from the lowest average salary of about 17,540 BAM to the highest average salary of 58,440 BAM.

Average Annual Salary
35,340 BAM
Average Monthly Salary
2,945 BAM

Lowest Annual Salary
17,540 BAM
Lowest Monthly Salary
1,461 BAM

Highest Annual Salary
58,440 BAM
Highest Monthly Salary
4,870 BAM

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

Arbitrator 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 Arbitrator Salaries in Bosnia and Herzegovina

So we've looked at the average salaries an Arbitrator will earn in Bosnia and Herzegovina. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Arbitrator can earn between 17,540 BAM and 58,440 BAM on average in Bosnia and Herzegovina. 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 Arbitrator in Bosnia and Herzegovina is 36,720 BAM. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 36,720 BAM, and 50% of the population earn more than 36,720 BAM.

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 Arbitrator salary in Bosnia and Herzegovina, 25% of the population are earning less than 26,020 BAM while 75% of the population earn more than 26,020 BAM.

75% of the population earn less than 50,660 BAM, and 25% of the population earn more than 50,660 BAM.

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.

Arbitrator Salary by Experience Level in Bosnia and Herzegovina

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 arbitrator 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 Arbitrator in Bosnia and Herzegovina that has less than two years of experience can expect to earn somewhere in the region of 20,300 BAM.
  • 2 - 5 Years Experience. With two to five years of experience the average Arbitrator salary would increase to 25,940 BAM.
  • 5 - 10 Years Experience. From five to ten years of experience as an Arbitrator, the average salary would be 36,020 BAM.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 42,960 BAM.
  • 15 - 20 Years Experience. An Arbitrator with 15 to 20 years of experience can earn an average of 48,920 BAM.
  • 20+ Years Experience. For an Arbitrator with more than 20 years, the expected average salary increases to 51,800 BAM.

Average Salary by Experience Chart

0-2 Years
20,300 BAM
2-5 Years +34%
25,940 BAM
5-10 Years +48%
36,020 BAM
10-15 Years +22%
42,960 BAM
15-20 Years +9%
48,920 BAM
20+ Years +8%
51,800 BAM

Arbitrator Salary by Education Level in Bosnia and Herzegovina

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 Arbitrator in Bosnia and Herzegovina 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 Arbitrator in Bosnia and Herzegovina with a bachelor's degree education can earn an average salary of 20,000 BAM.

  • Master's Degree. An Arbitrator in Bosnia and Herzegovina with a master's degree education can earn an average salary of 41,560 BAM.

Average Salary by Education Chart

Bachelor's Degree
20,000 BAM
Master's Degree +93%
41,560 BAM

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 Bosnia and Herzegovina is around 11,500 to 34,500 BAM 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.

Arbitrator 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 Bosnia and Herzegovina, a male arbitrator will earn an average of 37,740 BAM, while a female arbitrator will earn around 34,540 BAM.

This means that a male arbitrator earns approximately 9% more than a female arbitrator for performing the same job.

Average Salary by Gender Chart in Bosnia and Herzegovina

Male
37,740 BAM
Female -9%
34,540 BAM

Arbitrator Average Pay Raise in Bosnia and Herzegovina

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 Arbitrator in Bosnia and Herzegovina is around 7% every 29 months.

The national average pay raise across all professions and industries in Bosnia and Herzegovina is around 4% every 29 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 ÷ 29 ) × 12  = 3%

What this means is that an Arbitrator in Bosnia and Herzegovina can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Bosnia and Herzegovina for 2024

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

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

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

Arbitrator Bonus and Incentive Rates in Bosnia and Herzegovina

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 Arbitrator is a low bonus based job, with 42% of employees reporting at least one bonus in the last 12 months.

58% 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 2% to 7%.

Received Bonus
42%
No Bonus
58%

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 Bosnia and Herzegovina earn approximately 27% more than private sector employees in the same role.

Public Sector
31,400 BAM
Private Sector -27%
24,800 BAM

Salaries for Jobs Similar to an Arbitrator

In the table below, we have salary information for jobs that are similar to an Arbitrator in Bosnia and Herzegovina.

Job Title Category Salary
Administrative Law Judge Legal 73,100 BAM
Associate Attorney Legal 34,960 BAM
Attorney Legal 54,700 BAM
Bailiff Legal 19,200 BAM
Barrister Legal 17,020 BAM
Candidate Attorney Legal 31,340 BAM
Conciliator Legal 29,840 BAM
Contracts Associate Legal 16,140 BAM
Contracts Manager Legal 32,900 BAM
Contracts Negotiator Legal 23,260 BAM
Contracts Specialist Legal 19,220 BAM
Conveyancing Secretary Legal 13,560 BAM
Corporate Counsel Legal 41,900 BAM
Counsel Legal 39,960 BAM
Court Clerk Legal 13,540 BAM
Court Judicial Assistant Legal 20,460 BAM
Court Liaison Specialist Legal 23,660 BAM
Court Reporter Legal 20,000 BAM
Court Representative Legal 15,300 BAM
Crown Prosecution Service Lawyer Legal 73,020 BAM
General Counsel Legal 67,800 BAM
Immigration Executive Legal 36,700 BAM
In House Counsel Legal 40,560 BAM
Intellectual Property Specialist Legal 26,500 BAM
Judge Advocate Legal 57,820 BAM
Law Clerk Legal 12,120 BAM
Lawyer Legal 56,460 BAM
Legal Administrative Assistant Legal 14,200 BAM
Legal Advisor Legal 30,700 BAM
Legal Assistant Legal 17,020 BAM
Legal Associate Legal 27,040 BAM
Legal Consultant Legal 31,040 BAM
Legal Consultant Legal 34,240 BAM
Legal Counsel Legal 41,180 BAM
Legal Editor Legal 25,160 BAM
Legal Executive Legal 49,200 BAM
Legal Executive Secretary Legal 14,920 BAM
Legal IP Officer Legal 13,780 BAM
Legal Officer Legal 15,700 BAM
Legal Secretary Legal 14,540 BAM
Legal Services Director Legal 58,720 BAM
Legal Services Manager Legal 66,580 BAM
Legal Support Worker Legal 9,740 BAM
Legislative Liaison Legal 27,040 BAM
Litigation Attorney Legal 68,060 BAM
Litigation Paralegal Legal 35,300 BAM
Magistrate Judge Legal 80,020 BAM
Paralegal Legal 21,540 BAM
Patent Attorney Legal 41,560 BAM
Staff Attorney Legal 41,560 BAM

Salary Comparison by City

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

City Average Salary
Banja Luka 34,120 BAM
Medjugorje 30,220 BAM
Mostar 33,120 BAM
Sarajevo 38,060 BAM
Tuzla 36,800 BAM
Zenica 31,520 BAM

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