Average Bank Accounts Collector Salary in Palau for 2024

In this article, we will look at the average Bank Accounts Collector salary for 2024 in Palau 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 United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does a Bank Accounts Collector Make in Palau?

A Bank Accounts Collector working in Palau will typically earn around 10,080 USD per year, and this can range from the lowest average salary of about 6,180 USD to the highest average salary of 17,560 USD.

Average Annual Salary
10,080 USD
Average Monthly Salary
840 USD

Lowest Annual Salary
6,180 USD
Lowest Monthly Salary
515 USD

Highest Annual Salary
17,560 USD
Highest Monthly Salary
1,463 USD

These are average salaries for a Bank Accounts Collector in Palau and include benefits such as housing and transport. It's also possible for a Bank Accounts Collector to earn more or less than the average salaries shown above.

Bank Accounts Collector 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 Bank Accounts Collector Salaries in Palau

So we've looked at the average salaries a Bank Accounts Collector will earn in Palau. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Bank Accounts Collector can earn between 6,180 USD and 17,560 USD on average in Palau. 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 a Bank Accounts Collector in Palau is 12,300 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 12,300 USD, and 50% of the population earn more than 12,300 USD.

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 Bank Accounts Collector salary in Palau, 25% of the population are earning less than 7,040 USD while 75% of the population earn more than 7,040 USD.

75% of the population earn less than 14,540 USD, and 25% of the population earn more than 14,540 USD.

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.

Bank Accounts Collector Salary by Experience Level in Palau

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 bank accounts collector 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. A Bank Accounts Collector in Palau that has less than two years of experience can expect to earn somewhere in the region of 5,200 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Accounts Collector salary would increase to 7,080 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Accounts Collector, the average salary would be 12,520 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 12,240 USD.
  • 15 - 20 Years Experience. A Bank Accounts Collector with 15 to 20 years of experience can earn an average of 17,260 USD.
  • 20+ Years Experience. For a Bank Accounts Collector with more than 20 years, the expected average salary increases to 16,880 USD.

Average Salary by Experience Chart

0-2 Years
5,200 USD
2-5 Years +34%
7,080 USD
5-10 Years +30%
12,520 USD
10-15 Years +21%
12,240 USD
15-20 Years +9%
17,260 USD
20+ Years +5%
16,880 USD

Bank Accounts Collector Salary by Education Level in Palau

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 a Bank Accounts Collector in Palau based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Bank Accounts Collector in Palau with a high school education can earn an average salary of 6,440 USD.

  • Certificate or Diploma. A Bank Accounts Collector in Palau with a certificate or diploma education can earn an average salary of 10,320 USD.

  • Bachelor's Degree. A Bank Accounts Collector in Palau with a bachelor's degree education can earn an average salary of 13,540 USD.

  • Master's Degree. A Bank Accounts Collector in Palau with a master's degree education can earn an average salary of 17,100 USD.

Average Salary by Education Chart

High School
6,440 USD
Certificate or Diploma +14%
10,320 USD
Bachelor's Degree +41%
13,540 USD
Master's Degree +21%
17,100 USD

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 Palau is around 13,600 to 40,900 USD 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.

Bank Accounts Collector 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 Palau, a male bank accounts collector will earn an average of 12,200 USD, while a female bank accounts collector will earn around 12,300 USD.

This means that a male bank accounts collector earns approximately 1% less than a female bank accounts collector for performing the same job.

Average Salary by Gender Chart in Palau

Male
12,200 USD
Female +1%
12,300 USD

Bank Accounts Collector Average Pay Raise in Palau

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 a Bank Accounts Collector in Palau is around 7% every 27 months.

The national average pay raise across all professions and industries in Palau 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 ÷ 27 ) × 12  = 3%

What this means is that a Bank Accounts Collector in Palau can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Palau for 2024

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

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

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Bank Accounts Collector Bonus and Incentive Rates in Palau

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.

A Bank Accounts Collector is a low bonus based job, with 34% of employees reporting at least one bonus in the last 12 months.

66% 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 5%.

Received Bonus
34%
No Bonus
66%

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 Palau earn approximately 19% more than private sector employees in the same role.

Public Sector
37,200 USD
Private Sector -19%
31,380 USD

Salaries for Jobs Similar to a Bank Accounts Collector

In the table below, we have salary information for jobs that are similar to a Bank Accounts Collector in Palau.

Job Title Category Salary
AML Analyst Banking 48,160 USD
Assistant Bank Branch Manager Banking 41,480 USD
Assistant Bank Manager Banking 56,460 USD
ATM Manager Banking 48,200 USD
ATM Service Technician Banking 10,980 USD
Bank Accounts Analyst Banking 19,220 USD
Bank Accounts Controller Banking 25,940 USD
Bank Accounts Executive Banking 35,340 USD
Bank Accounts Manager Banking 38,340 USD
Bank Auditing Manager Banking 43,340 USD
Bank Branch Manager Banking 56,060 USD
Bank Branch Operations Coordinator Banking 25,940 USD
Bank Clerk Banking 12,760 USD
Bank Client Service Associate Banking 17,260 USD
Bank Collector Banking 12,520 USD
Bank Compliance Specialist Banking 29,320 USD
Bank Manager Banking 67,800 USD
Bank Operational Risk Manager Banking 66,180 USD
Bank Operations Head Banking 68,400 USD
Bank Operations Officer Banking 26,660 USD
Bank Operations Specialist Banking 40,600 USD
Bank Process Manager Banking 39,080 USD
Bank Product Manager Banking 43,360 USD
Bank Programme Manager Banking 48,140 USD
Bank Project Manager Banking 51,120 USD
Bank Propositions Manager Banking 48,940 USD
Bank Quantitative Analyst Banking 34,980 USD
Bank Regional Manager Banking 69,400 USD
Bank Regional Risk Officer Banking 38,260 USD
Bank Relationship Manager Banking 50,240 USD
Bank Relationship Officer Banking 20,460 USD
Bank Teller Banking 13,660 USD
Banker Banking 23,500 USD
Banking Business Analyst Banking 36,160 USD
Banking Business Development Officer Banking 22,540 USD
Banking Business Planning Executive Banking 49,200 USD
Banking Product Manager Banking 45,580 USD
Banking Reference Data Manager Banking 38,060 USD
Banking Risk Analyst Banking 34,240 USD
Banking Technical Analyst Banking 17,760 USD
Bankruptcy Coordinator Banking 25,220 USD
Bill and Account Collector Banking 10,980 USD
Budget Analyst Banking 33,520 USD
Capital Risk Manager Banking 65,940 USD
Cards Marketing Manager Banking 43,340 USD
Cash Management Manager Banking 60,180 USD
Check Processing Manager Banking 46,040 USD
Commercial Vault Associate Banking 35,520 USD
Corporate Banker Banking 23,360 USD
Corporate Dealer Banking 37,740 USD
Credit Analyst Banking 29,840 USD
Credit and Collections Manager Banking 48,160 USD
Credit Card Fraud Investigator Banking 34,280 USD
Credit Portfolio Manager Banking 68,060 USD
Credit Risk Analyst Banking 38,060 USD
Credit Risk Associate Banking 36,700 USD
Direct Bank Sales Representative Banking 24,200 USD
Exchange Control Consultant Banking 38,180 USD
Executive Account Analyst Banking 35,340 USD
Financial Bank Planning Consultant Banking 48,820 USD
Financial Banking Analysis Manager Banking 50,240 USD
Financial Banking Assistant Banking 18,780 USD
Financial Banking Systems Manager Banking 48,160 USD
Foreign Exchange Manager Banking 49,820 USD
Fraud Analyst Banking 38,180 USD
Fraud Detection Associate Banking 27,040 USD
Fraud Detection Manager Banking 58,200 USD
Fraud Detection Supervisor Banking 31,660 USD
Internal Bank Audit Manager Banking 64,200 USD
Internal Bank Auditor Banking 35,500 USD
Internal Private Banker Banking 23,140 USD
International Banking Manager Banking 68,900 USD
Investment Banking Analyst Banking 52,380 USD
Loan Analyst Banking 34,120 USD
Loan Area Manager Banking 41,900 USD
Loan Audit Team Leader Banking 38,060 USD
Loan Branch Manager Banking 42,040 USD
Loan Business Development Officer Banking 21,400 USD
Loan Clerk Banking 12,180 USD
Loan Collection and Recovery Manager Banking 42,400 USD
Loan Collection Manager Banking 43,340 USD
Loan Collector Banking 12,200 USD
Loan Examiner Banking 15,580 USD
Loan Officer Banking 13,900 USD
Loan Processing Manager Banking 38,260 USD
Loan Processor Banking 17,540 USD
Loan Quality Assurance Auditor Banking 36,160 USD
Loan Quality Assurance Manager Banking 37,800 USD
Loan Quality Assurance Representative Banking 26,660 USD
Loan Review Manager Banking 38,340 USD
Loan Team Leader Banking 33,520 USD
Loans Manager Banking 43,800 USD
Mortgage Advisor Banking 23,700 USD
Mortgage Collection Manager Banking 40,040 USD
Mortgage Collector Banking 12,840 USD
Mortgage Credit Analyst Banking 18,900 USD
Mortgage Credit Manager Banking 39,800 USD
Mortgage Development Manager Banking 41,480 USD
Mortgage Document Reviewer Banking 14,820 USD
Mortgage Funding Manager Banking 46,280 USD
Mortgage Operations Manager Banking 62,060 USD
Mortgage Payment Processing Clerk Banking 13,780 USD
Mortgage Processing Manager Banking 38,680 USD
Mortgage Processor Banking 16,880 USD
Mortgage Quality Assurance Auditor Banking 37,740 USD
Mortgage Quality Assurance Manager Banking 41,980 USD
Mortgage Servicing Clerk Banking 12,200 USD
Mortgage Servicing Manager Banking 38,780 USD
Mortgage Underwriter Banking 14,200 USD
Online Banking Manager Banking 60,460 USD
Payment Processing Clerk Banking 11,040 USD
Personal Banker Banking 25,160 USD
Personal Banking Advisor Banking 26,780 USD
Phone Banker Banking 18,780 USD
Private Banker Banking 25,440 USD
Reconciliation and Investigation Specialist Banking 28,660 USD
Tax Officer Banking 21,020 USD
Teller Banking 10,980 USD
Trade Officer Banking 12,240 USD
Trade Product Manager Banking 43,260 USD
Trader Banking 15,700 USD
Treasury Operations Officer Banking 31,180 USD

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