Average Broker Salary in Georgia for 2024

In this article, we will look at the average Broker salary for 2024 in Georgia 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 lari. To keep things simple, we are using the GEL currency code instead of the currency symbol โ‚พ.

How Much Does a Broker Make in Georgia?

A Broker working in Georgia will typically earn around 75,500 GEL per year, and this can range from the lowest average salary of about 34,280 GEL to the highest average salary of 116,740 GEL.

Average Annual Salary
75,500 GEL
Average Monthly Salary
6,291 GEL

Lowest Annual Salary
34,280 GEL
Lowest Monthly Salary
2,856 GEL

Highest Annual Salary
116,740 GEL
Highest Monthly Salary
9,728 GEL

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

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 Broker Salaries in Georgia

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

Salary ranges

We already know that a Broker can earn between 34,280 GEL and 116,740 GEL on average in Georgia. 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 Broker in Georgia is 79,240 GEL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 79,240 GEL, and 50% of the population earn more than 79,240 GEL.

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 Broker salary in Georgia, 25% of the population are earning less than 51,400 GEL while 75% of the population earn more than 51,400 GEL.

75% of the population earn less than 105,880 GEL, and 25% of the population earn more than 105,880 GEL.

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.

Broker Salary by Experience Level in Georgia

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 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. A Broker in Georgia that has less than two years of experience can expect to earn somewhere in the region of 38,780 GEL.
  • 2 - 5 Years Experience. With two to five years of experience the average Broker salary would increase to 55,840 GEL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Broker, the average salary would be 79,000 GEL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 95,600 GEL.
  • 15 - 20 Years Experience. A Broker with 15 to 20 years of experience can earn an average of 101,120 GEL.
  • 20+ Years Experience. For a Broker with more than 20 years, the expected average salary increases to 110,340 GEL.

Average Salary by Experience Chart

0-2 Years
38,780 GEL
2-5 Years +38%
55,840 GEL
5-10 Years +42%
79,000 GEL
10-15 Years +22%
95,600 GEL
15-20 Years +6%
101,120 GEL
20+ Years +9%
110,340 GEL

Broker Salary by Education Level in Georgia

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 Broker in Georgia 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. A Broker in Georgia with a certificate or diploma education can earn an average salary of 49,700 GEL.

  • Bachelor's Degree. A Broker in Georgia with a bachelor's degree education can earn an average salary of 78,420 GEL.

  • Master's Degree. A Broker in Georgia with a master's degree education can earn an average salary of 106,600 GEL.

Average Salary by Education Chart

Certificate or Diploma
49,700 GEL
Bachelor's Degree +58%
78,420 GEL
Master's Degree +39%
106,600 GEL

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 Georgia is around 33,700 to 101,000 GEL 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.

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 Georgia, a male broker will earn an average of 79,600 GEL, while a female broker will earn around 72,380 GEL.

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

Average Salary by Gender Chart in Georgia

Male
79,600 GEL
Female -10%
72,380 GEL

Broker Average Pay Raise in Georgia

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 Broker in Georgia is around 8% every 28 months.

The national average pay raise across all professions and industries in Georgia 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 = ( 8 ÷ 28 ) × 12  = 3%

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

Annual Pay Raise by Industry in Georgia for 2024

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

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

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Broker Bonus and Incentive Rates in Georgia

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 Broker is a low bonus based job, with 15% of employees reporting at least one bonus in the last 12 months.

85% 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 0% to 4%.

Received Bonus
15%
No Bonus
85%

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 Georgia earn approximately 20% more than private sector employees in the same role.

Public Sector
89,800 GEL
Private Sector -20%
74,940 GEL

Salaries for Jobs Similar to a Broker

In the table below, we have salary information for jobs that are similar to a Broker in Georgia.

Job Title Category Salary
Actuarial Analyst Insurance 107,960 GEL
Actuarial Assistant Insurance 75,260 GEL
Actuarial Specialist Insurance 75,280 GEL
Actuary Insurance 99,460 GEL
Adjustment Insurance Clerk Insurance 27,620 GEL
Assistant Broker Insurance 45,260 GEL
Assistant Claims Manager Insurance 88,260 GEL
Associate Insurance Representative Insurance 38,620 GEL
Auditing Insurance Manager Insurance 119,700 GEL
Claim Advocacy Professional Insurance 80,760 GEL
Claims Adjuster Insurance 29,320 GEL
Claims Analyst Insurance 41,660 GEL
Claims Examiner Insurance 38,620 GEL
Claims Manager Insurance 103,580 GEL
Claims Processor Insurance 32,020 GEL
Claims Representative Insurance 34,160 GEL
Claims Resolution Specialist Insurance 84,880 GEL
Claims Supervisor Insurance 78,620 GEL
Complaints Specialist Insurance 74,540 GEL
Compliance Examiner Insurance 75,260 GEL
Compliance Officer Insurance 62,460 GEL
Compliance Reviewer Insurance 73,260 GEL
Consultant Insurance 78,620 GEL
Eligibility Interviewer Insurance 80,840 GEL
Eligibility Specialist Insurance 77,120 GEL
Insurance Account Manager Insurance 96,720 GEL
Insurance Accounts Executive Insurance 84,880 GEL
Insurance Adjuster Insurance 69,720 GEL
Insurance Agent Insurance 45,600 GEL
Insurance Analyst Insurance 72,740 GEL
Insurance Appraiser Insurance 78,160 GEL
Insurance Claims Clerk Insurance 27,620 GEL
Insurance Examiner Insurance 75,280 GEL
Insurance Investigator Insurance 75,260 GEL
Insurance Manager Insurance 134,600 GEL
Insurance Operations Manager Insurance 139,100 GEL
Insurance Policy Processing Clerk Insurance 27,020 GEL
Insurance Pricing Assistant Insurance 60,920 GEL
Insurance Program Manager Insurance 102,380 GEL
Insurance Project Manager Insurance 101,840 GEL
Insurance Quality Assurance Agent Insurance 63,040 GEL
Insurance Sales Agent Insurance 43,760 GEL
Insurance Sales Director Insurance 128,500 GEL
Insurance Sales Manager Insurance 98,540 GEL
Insurance Sales Representative Insurance 39,080 GEL
Insurance Team Leader Insurance 82,160 GEL
Insurance Underwriter Insurance 58,440 GEL
Loss Control Specialist Insurance 74,940 GEL
Loss Prevention Investigator Insurance 79,240 GEL
Loss Prevention Manager Insurance 110,340 GEL
Loss Prevention Specialist Insurance 84,580 GEL
Marine Underwriter Insurance 57,440 GEL
Medical Auditor Insurance 78,620 GEL
Monitoring and Performance Officer Insurance 51,800 GEL
Payment Services Specialist Insurance 78,160 GEL
Policy Change Director Insurance 115,740 GEL
Policy Change Supervisor Insurance 88,260 GEL
Policy Change Technician Insurance 37,800 GEL
Risk Analyst Insurance 84,180 GEL
Risk Management Director Insurance 142,300 GEL
Risk Management Supervisor Insurance 102,460 GEL
Risk Manager Insurance 148,300 GEL
Risk Modeling Manager Insurance 146,200 GEL
Title Insurance Typist Insurance 66,120 GEL
Training Manager Insurance 80,640 GEL

Salary Comparison by City

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

City Average Salary
Batumi 80,760 GEL
Tbilisi 86,520 GEL

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