Average Assistant Broker Salary in Belize for 2024

In this article, we will look at the average Assistant Broker salary for 2024 in Belize 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 Belize dollar. To keep things simple, we are using the BZD currency code instead of the currency symbol $.

How Much Does an Assistant Broker Make in Belize?

An Assistant Broker working in Belize will typically earn around 32,200 BZD per year, and this can range from the lowest average salary of about 16,720 BZD to the highest average salary of 49,360 BZD.

Average Annual Salary
32,200 BZD
Average Monthly Salary
2,683 BZD

Lowest Annual Salary
16,720 BZD
Lowest Monthly Salary
1,393 BZD

Highest Annual Salary
49,360 BZD
Highest Monthly Salary
4,113 BZD

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

Assistant Broker 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 Assistant Broker Salaries in Belize

So we've looked at the average salaries an Assistant Broker will earn in Belize. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Assistant Broker can earn between 16,720 BZD and 49,360 BZD on average in Belize. 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 Assistant Broker in Belize is 28,680 BZD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 28,680 BZD, and 50% of the population earn more than 28,680 BZD.

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 Assistant Broker salary in Belize, 25% of the population are earning less than 21,020 BZD while 75% of the population earn more than 21,020 BZD.

75% of the population earn less than 38,140 BZD, and 25% of the population earn more than 38,140 BZD.

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.

Assistant Broker Salary by Experience Level in Belize

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 assistant broker 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 Assistant Broker in Belize that has less than two years of experience can expect to earn somewhere in the region of 18,940 BZD.
  • 2 - 5 Years Experience. With two to five years of experience the average Assistant Broker salary would increase to 23,660 BZD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Assistant Broker, the average salary would be 32,420 BZD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 40,560 BZD.
  • 15 - 20 Years Experience. An Assistant Broker with 15 to 20 years of experience can earn an average of 41,820 BZD.
  • 20+ Years Experience. For an Assistant Broker with more than 20 years, the expected average salary increases to 47,540 BZD.

Average Salary by Experience Chart

0-2 Years
18,940 BZD
2-5 Years +23%
23,660 BZD
5-10 Years +42%
32,420 BZD
10-15 Years +17%
40,560 BZD
15-20 Years +10%
41,820 BZD
20+ Years +6%
47,540 BZD

Assistant Broker Salary by Education Level in Belize

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 Assistant Broker in Belize 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 Assistant Broker in Belize with a certificate or diploma education can earn an average salary of 27,380 BZD.

  • Bachelor's Degree. An Assistant Broker in Belize with a bachelor's degree education can earn an average salary of 37,380 BZD.

Average Salary by Education Chart

Certificate or Diploma
27,380 BZD
Bachelor's Degree +47%
37,380 BZD

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 Belize is around 19,600 to 58,800 BZD 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.

Assistant Broker 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 Belize, a male assistant broker will earn an average of 31,520 BZD, while a female assistant broker will earn around 28,680 BZD.

This means that a male assistant broker earns approximately 10% more than a female assistant broker for performing the same job.

Average Salary by Gender Chart in Belize

Male
31,520 BZD
Female -10%
28,680 BZD

Assistant Broker Average Pay Raise in Belize

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 Assistant Broker in Belize is around 7% every 28 months.

The national average pay raise across all professions and industries in Belize 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 ÷ 28 ) × 12  = 3%

What this means is that an Assistant Broker in Belize can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Belize for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Assistant Broker Bonus and Incentive Rates in Belize

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 Assistant Broker is a low bonus based job, with 9% of employees reporting at least one bonus in the last 12 months.

91% 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 1% to 3%.

Received Bonus
9%
No Bonus
91%

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 Belize earn approximately 23% more than private sector employees in the same role.

Public Sector
53,120 BZD
Private Sector -23%
43,340 BZD

Salaries for Jobs Similar to an Assistant Broker

In the table below, we have salary information for jobs that are similar to an Assistant Broker in Belize.

Job Title Category Salary
Actuarial Analyst Insurance 66,020 BZD
Actuarial Assistant Insurance 45,000 BZD
Actuarial Specialist Insurance 47,580 BZD
Actuary Insurance 60,460 BZD
Adjustment Insurance Clerk Insurance 15,920 BZD
Assistant Claims Manager Insurance 50,620 BZD
Associate Insurance Representative Insurance 25,160 BZD
Auditing Insurance Manager Insurance 70,700 BZD
Broker Insurance 45,260 BZD
Claim Advocacy Professional Insurance 47,120 BZD
Claims Adjuster Insurance 19,640 BZD
Claims Analyst Insurance 25,160 BZD
Claims Examiner Insurance 25,220 BZD
Claims Manager Insurance 66,680 BZD
Claims Processor Insurance 19,200 BZD
Claims Representative Insurance 21,560 BZD
Claims Resolution Specialist Insurance 50,980 BZD
Claims Supervisor Insurance 49,300 BZD
Complaints Specialist Insurance 44,540 BZD
Compliance Examiner Insurance 46,040 BZD
Compliance Officer Insurance 42,040 BZD
Compliance Reviewer Insurance 44,140 BZD
Consultant Insurance 49,560 BZD
Eligibility Interviewer Insurance 48,940 BZD
Eligibility Specialist Insurance 50,980 BZD
Insurance Account Manager Insurance 59,660 BZD
Insurance Accounts Executive Insurance 51,120 BZD
Insurance Adjuster Insurance 44,720 BZD
Insurance Agent Insurance 26,100 BZD
Insurance Analyst Insurance 47,540 BZD
Insurance Appraiser Insurance 50,020 BZD
Insurance Claims Clerk Insurance 17,560 BZD
Insurance Examiner Insurance 44,800 BZD
Insurance Investigator Insurance 43,760 BZD
Insurance Manager Insurance 80,280 BZD
Insurance Operations Manager Insurance 83,100 BZD
Insurance Policy Processing Clerk Insurance 19,640 BZD
Insurance Pricing Assistant Insurance 38,180 BZD
Insurance Program Manager Insurance 63,320 BZD
Insurance Project Manager Insurance 64,640 BZD
Insurance Quality Assurance Agent Insurance 42,320 BZD
Insurance Sales Agent Insurance 28,680 BZD
Insurance Sales Director Insurance 80,480 BZD
Insurance Sales Manager Insurance 61,780 BZD
Insurance Sales Representative Insurance 23,140 BZD
Insurance Team Leader Insurance 51,080 BZD
Insurance Underwriter Insurance 33,520 BZD
Loss Control Specialist Insurance 48,140 BZD
Loss Prevention Investigator Insurance 51,340 BZD
Loss Prevention Manager Insurance 66,680 BZD
Loss Prevention Specialist Insurance 49,560 BZD
Marine Underwriter Insurance 38,140 BZD
Medical Auditor Insurance 46,880 BZD
Monitoring and Performance Officer Insurance 35,300 BZD
Payment Services Specialist Insurance 50,020 BZD
Policy Change Director Insurance 73,980 BZD
Policy Change Supervisor Insurance 51,800 BZD
Policy Change Technician Insurance 23,140 BZD
Risk Analyst Insurance 51,800 BZD
Risk Management Director Insurance 94,800 BZD
Risk Management Supervisor Insurance 60,600 BZD
Risk Manager Insurance 95,760 BZD
Risk Modeling Manager Insurance 85,700 BZD
Title Insurance Typist Insurance 44,800 BZD
Training Manager Insurance 57,360 BZD

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