Average Bank Collector Salary in Dominican Republic for 2024

In this article, we will look at the average Bank Collector salary for 2024 in Dominican Republic 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 Dominican peso. To keep things simple, we are using the DOP currency code instead of the currency symbol $.

How Much Does a Bank Collector Make in Dominican Republic?

A Bank Collector working in Dominican Republic will typically earn around 84,560 DOP per year, and this can range from the lowest average salary of about 47,760 DOP to the highest average salary of 128,500 DOP.

Average Annual Salary
84,560 DOP
Average Monthly Salary
7,046 DOP

Lowest Annual Salary
47,760 DOP
Lowest Monthly Salary
3,980 DOP

Highest Annual Salary
128,500 DOP
Highest Monthly Salary
10,708 DOP

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

Bank 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 Collector Salaries in Dominican Republic

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

Salary ranges

We already know that a Bank Collector can earn between 47,760 DOP and 128,500 DOP on average in Dominican Republic. 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 Collector in Dominican Republic is 78,400 DOP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 78,400 DOP, and 50% of the population earn more than 78,400 DOP.

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 Collector salary in Dominican Republic, 25% of the population are earning less than 58,440 DOP while 75% of the population earn more than 58,440 DOP.

75% of the population earn less than 97,640 DOP, and 25% of the population earn more than 97,640 DOP.

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 Collector Salary by Experience Level in Dominican Republic

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 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 Collector in Dominican Republic that has less than two years of experience can expect to earn somewhere in the region of 52,300 DOP.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Collector salary would increase to 68,580 DOP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Collector, the average salary would be 90,900 DOP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 104,140 DOP.
  • 15 - 20 Years Experience. A Bank Collector with 15 to 20 years of experience can earn an average of 115,220 DOP.
  • 20+ Years Experience. For a Bank Collector with more than 20 years, the expected average salary increases to 124,400 DOP.

Average Salary by Experience Chart

0-2 Years
52,300 DOP
2-5 Years +26%
68,580 DOP
5-10 Years +32%
90,900 DOP
10-15 Years +18%
104,140 DOP
15-20 Years +11%
115,220 DOP
20+ Years +6%
124,400 DOP

Bank Collector Salary by Education Level in Dominican Republic

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 Collector in Dominican Republic 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 Collector in Dominican Republic with a high school education can earn an average salary of 68,580 DOP.

  • Certificate or Diploma. A Bank Collector in Dominican Republic with a certificate or diploma education can earn an average salary of 91,660 DOP.

  • Bachelor's Degree. A Bank Collector in Dominican Republic with a bachelor's degree education can earn an average salary of 119,700 DOP.

Average Salary by Education Chart

High School
68,580 DOP
Certificate or Diploma +37%
91,660 DOP
Bachelor's Degree +29%
119,700 DOP

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 Dominican Republic is around 99,300 to 298,000 DOP 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 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 Dominican Republic, a male bank collector will earn an average of 89,280 DOP, while a female bank collector will earn around 83,420 DOP.

This means that a male bank collector earns approximately 7% more than a female bank collector for performing the same job.

Average Salary by Gender Chart in Dominican Republic

Male
89,280 DOP
Female -7%
83,420 DOP

Bank Collector Average Pay Raise in Dominican Republic

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 Collector in Dominican Republic is around 11% every 16 months.

The national average pay raise across all professions and industries in Dominican Republic is around 8% every 18 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 = ( 11 ÷ 16 ) × 12  = 8%

What this means is that a Bank Collector in Dominican Republic can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Dominican Republic for 2024

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

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%

Bank Collector Bonus and Incentive Rates in Dominican Republic

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 Collector is a low bonus based job, with 23% of employees reporting at least one bonus in the last 12 months.

77% 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 2%.

Received Bonus
23%
No Bonus
77%

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

Public Sector
247,800 DOP
Private Sector -7%
232,400 DOP

Salaries for Jobs Similar to a Bank Collector

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

Job Title Category Salary
AML Analyst Banking 362,200 DOP
Assistant Bank Branch Manager Banking 315,900 DOP
Assistant Bank Manager Banking 390,000 DOP
ATM Manager Banking 351,900 DOP
ATM Service Technician Banking 91,840 DOP
Bank Accounts Analyst Banking 128,900 DOP
Bank Accounts Collector Banking 80,280 DOP
Bank Accounts Controller Banking 172,200 DOP
Bank Accounts Executive Banking 272,800 DOP
Bank Accounts Manager Banking 301,600 DOP
Bank Auditing Manager Banking 317,700 DOP
Bank Branch Manager Banking 407,100 DOP
Bank Branch Operations Coordinator Banking 191,600 DOP
Bank Clerk Banking 78,260 DOP
Bank Client Service Associate Banking 109,720 DOP
Bank Compliance Specialist Banking 209,500 DOP
Bank Manager Banking 472,100 DOP
Bank Operational Risk Manager Banking 472,100 DOP
Bank Operations Head Banking 522,700 DOP
Bank Operations Officer Banking 197,600 DOP
Bank Operations Specialist Banking 314,500 DOP
Bank Process Manager Banking 277,400 DOP
Bank Product Manager Banking 317,700 DOP
Bank Programme Manager Banking 345,700 DOP
Bank Project Manager Banking 385,300 DOP
Bank Propositions Manager Banking 341,900 DOP
Bank Quantitative Analyst Banking 239,300 DOP
Bank Regional Manager Banking 518,900 DOP
Bank Regional Risk Officer Banking 263,900 DOP
Bank Relationship Manager Banking 366,200 DOP
Bank Relationship Officer Banking 168,100 DOP
Bank Teller Banking 84,800 DOP
Banker Banking 175,900 DOP
Banking Business Analyst Banking 263,200 DOP
Banking Business Development Officer Banking 161,600 DOP
Banking Business Planning Executive Banking 353,600 DOP
Banking Product Manager Banking 308,300 DOP
Banking Reference Data Manager Banking 288,100 DOP
Banking Risk Analyst Banking 263,200 DOP
Banking Technical Analyst Banking 139,100 DOP
Bankruptcy Coordinator Banking 180,300 DOP
Bill and Account Collector Banking 88,300 DOP
Budget Analyst Banking 253,400 DOP
Capital Risk Manager Banking 475,700 DOP
Cards Marketing Manager Banking 308,300 DOP
Cash Management Manager Banking 436,200 DOP
Check Processing Manager Banking 345,100 DOP
Commercial Vault Associate Banking 259,100 DOP
Corporate Banker Banking 181,600 DOP
Corporate Dealer Banking 277,400 DOP
Credit Analyst Banking 204,700 DOP
Credit and Collections Manager Banking 340,400 DOP
Credit Card Fraud Investigator Banking 275,800 DOP
Credit Portfolio Manager Banking 459,700 DOP
Credit Risk Analyst Banking 281,500 DOP
Credit Risk Associate Banking 265,000 DOP
Direct Bank Sales Representative Banking 183,600 DOP
Exchange Control Consultant Banking 271,300 DOP
Executive Account Analyst Banking 243,000 DOP
Financial Bank Planning Consultant Banking 335,100 DOP
Financial Banking Analysis Manager Banking 385,300 DOP
Financial Banking Assistant Banking 119,700 DOP
Financial Banking Systems Manager Banking 366,200 DOP
Foreign Exchange Manager Banking 377,200 DOP
Fraud Analyst Banking 275,500 DOP
Fraud Detection Associate Banking 180,500 DOP
Fraud Detection Manager Banking 417,200 DOP
Fraud Detection Supervisor Banking 231,000 DOP
Internal Bank Audit Manager Banking 491,000 DOP
Internal Bank Auditor Banking 249,600 DOP
Internal Private Banker Banking 187,300 DOP
International Banking Manager Banking 510,300 DOP
Investment Banking Analyst Banking 371,100 DOP
Loan Analyst Banking 249,600 DOP
Loan Area Manager Banking 319,600 DOP
Loan Audit Team Leader Banking 301,800 DOP
Loan Branch Manager Banking 283,700 DOP
Loan Business Development Officer Banking 161,600 DOP
Loan Clerk Banking 93,660 DOP
Loan Collection and Recovery Manager Banking 317,700 DOP
Loan Collection Manager Banking 301,800 DOP
Loan Collector Banking 84,040 DOP
Loan Examiner Banking 105,940 DOP
Loan Officer Banking 98,440 DOP
Loan Processing Manager Banking 281,500 DOP
Loan Processor Banking 114,940 DOP
Loan Quality Assurance Auditor Banking 271,300 DOP
Loan Quality Assurance Manager Banking 290,800 DOP
Loan Quality Assurance Representative Banking 185,100 DOP
Loan Review Manager Banking 299,500 DOP
Loan Team Leader Banking 254,800 DOP
Loans Manager Banking 327,300 DOP
Mortgage Advisor Banking 187,500 DOP
Mortgage Collection Manager Banking 301,600 DOP
Mortgage Collector Banking 83,020 DOP
Mortgage Credit Analyst Banking 138,800 DOP
Mortgage Credit Manager Banking 282,300 DOP
Mortgage Development Manager Banking 344,600 DOP
Mortgage Document Reviewer Banking 112,760 DOP
Mortgage Funding Manager Banking 322,600 DOP
Mortgage Operations Manager Banking 433,400 DOP
Mortgage Payment Processing Clerk Banking 102,240 DOP
Mortgage Processing Manager Banking 301,700 DOP
Mortgage Processor Banking 115,520 DOP
Mortgage Quality Assurance Auditor Banking 252,300 DOP
Mortgage Quality Assurance Manager Banking 277,400 DOP
Mortgage Servicing Clerk Banking 84,800 DOP
Mortgage Servicing Manager Banking 286,400 DOP
Mortgage Underwriter Banking 111,860 DOP
Online Banking Manager Banking 460,500 DOP
Payment Processing Clerk Banking 91,380 DOP
Personal Banker Banking 187,500 DOP
Personal Banking Advisor Banking 190,500 DOP
Phone Banker Banking 128,500 DOP
Private Banker Banking 175,900 DOP
Reconciliation and Investigation Specialist Banking 214,000 DOP
Tax Officer Banking 148,300 DOP
Teller Banking 89,340 DOP
Trade Officer Banking 107,860 DOP
Trade Product Manager Banking 301,800 DOP
Trader Banking 119,900 DOP
Treasury Operations Officer Banking 231,000 DOP

Salary Comparison by City

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

City Average Salary
Santo Domingo 96,180 DOP

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