Average Broker Salary in Kiribati for 2024

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

How Much Does a Broker Make in Kiribati?

A Broker working in Kiribati will typically earn around 45,260 AUD per year, and this can range from the lowest average salary of about 22,400 AUD to the highest average salary of 72,700 AUD.

Average Annual Salary
45,260 AUD
Average Monthly Salary
3,771 AUD

Lowest Annual Salary
22,400 AUD
Lowest Monthly Salary
1,866 AUD

Highest Annual Salary
72,700 AUD
Highest Monthly Salary
6,058 AUD

These are average salaries for a Broker in Kiribati 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 Kiribati

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

Salary ranges

We already know that a Broker can earn between 22,400 AUD and 72,700 AUD on average in Kiribati. 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 Kiribati is 45,000 AUD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 45,000 AUD, and 50% of the population earn more than 45,000 AUD.

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 Kiribati, 25% of the population are earning less than 31,960 AUD while 75% of the population earn more than 31,960 AUD.

75% of the population earn less than 59,000 AUD, and 25% of the population earn more than 59,000 AUD.

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 Kiribati

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 Kiribati that has less than two years of experience can expect to earn somewhere in the region of 26,500 AUD.
  • 2 - 5 Years Experience. With two to five years of experience the average Broker salary would increase to 34,280 AUD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Broker, the average salary would be 49,820 AUD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 58,280 AUD.
  • 15 - 20 Years Experience. A Broker with 15 to 20 years of experience can earn an average of 66,020 AUD.
  • 20+ Years Experience. For a Broker with more than 20 years, the expected average salary increases to 69,780 AUD.

Average Salary by Experience Chart

0-2 Years
26,500 AUD
2-5 Years +31%
34,280 AUD
5-10 Years +40%
49,820 AUD
10-15 Years +20%
58,280 AUD
15-20 Years +9%
66,020 AUD
20+ Years +8%
69,780 AUD

Broker Salary by Education Level in Kiribati

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 Kiribati 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 Kiribati with a certificate or diploma education can earn an average salary of 31,940 AUD.

  • Bachelor's Degree. A Broker in Kiribati with a bachelor's degree education can earn an average salary of 48,340 AUD.

  • Master's Degree. A Broker in Kiribati with a master's degree education can earn an average salary of 66,960 AUD.

Average Salary by Education Chart

Certificate or Diploma
31,940 AUD
Bachelor's Degree +50%
48,340 AUD
Master's Degree +48%
66,960 AUD

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 Kiribati is around 19,400 to 58,200 AUD 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 Kiribati, a male broker will earn an average of 50,980 AUD, while a female broker will earn around 43,080 AUD.

This means that a male broker earns approximately 18% more than a female broker for performing the same job.

Average Salary by Gender Chart in Kiribati

Male
50,980 AUD
Female -18%
43,080 AUD

Broker Average Pay Raise in Kiribati

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 Kiribati is around 8% every 28 months.

The national average pay raise across all professions and industries in Kiribati 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 Kiribati can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Kiribati for 2024

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

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%

Broker Bonus and Incentive Rates in Kiribati

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 11% of employees reporting at least one bonus in the last 12 months.

89% 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
11%
No Bonus
89%

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 Kiribati earn approximately 21% more than private sector employees in the same role.

Public Sector
52,540 AUD
Private Sector -21%
43,360 AUD

Salaries for Jobs Similar to a Broker

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

Job Title Category Salary
Actuarial Analyst Insurance 64,300 AUD
Actuarial Assistant Insurance 43,760 AUD
Actuarial Specialist Insurance 48,340 AUD
Actuary Insurance 64,200 AUD
Adjustment Insurance Clerk Insurance 15,920 AUD
Assistant Broker Insurance 29,640 AUD
Assistant Claims Manager Insurance 53,160 AUD
Associate Insurance Representative Insurance 23,700 AUD
Auditing Insurance Manager Insurance 72,180 AUD
Claim Advocacy Professional Insurance 50,340 AUD
Claims Adjuster Insurance 18,780 AUD
Claims Analyst Insurance 27,020 AUD
Claims Examiner Insurance 27,380 AUD
Claims Manager Insurance 69,040 AUD
Claims Processor Insurance 20,120 AUD
Claims Representative Insurance 21,560 AUD
Claims Resolution Specialist Insurance 48,300 AUD
Claims Supervisor Insurance 47,540 AUD
Complaints Specialist Insurance 46,160 AUD
Compliance Examiner Insurance 45,600 AUD
Compliance Officer Insurance 40,240 AUD
Compliance Reviewer Insurance 45,600 AUD
Consultant Insurance 48,200 AUD
Eligibility Interviewer Insurance 53,860 AUD
Eligibility Specialist Insurance 48,820 AUD
Insurance Account Manager Insurance 58,860 AUD
Insurance Accounts Executive Insurance 51,340 AUD
Insurance Adjuster Insurance 46,280 AUD
Insurance Agent Insurance 30,840 AUD
Insurance Analyst Insurance 47,120 AUD
Insurance Appraiser Insurance 49,200 AUD
Insurance Claims Clerk Insurance 17,560 AUD
Insurance Examiner Insurance 43,220 AUD
Insurance Investigator Insurance 45,600 AUD
Insurance Manager Insurance 80,280 AUD
Insurance Operations Manager Insurance 80,580 AUD
Insurance Policy Processing Clerk Insurance 17,860 AUD
Insurance Pricing Assistant Insurance 40,420 AUD
Insurance Program Manager Insurance 62,100 AUD
Insurance Project Manager Insurance 59,940 AUD
Insurance Quality Assurance Agent Insurance 43,260 AUD
Insurance Sales Agent Insurance 28,900 AUD
Insurance Sales Director Insurance 78,620 AUD
Insurance Sales Manager Insurance 61,580 AUD
Insurance Sales Representative Insurance 25,940 AUD
Insurance Team Leader Insurance 50,660 AUD
Insurance Underwriter Insurance 39,160 AUD
Loss Control Specialist Insurance 47,400 AUD
Loss Prevention Investigator Insurance 50,620 AUD
Loss Prevention Manager Insurance 66,680 AUD
Loss Prevention Specialist Insurance 50,080 AUD
Marine Underwriter Insurance 33,520 AUD
Medical Auditor Insurance 46,880 AUD
Monitoring and Performance Officer Insurance 31,520 AUD
Payment Services Specialist Insurance 49,200 AUD
Policy Change Director Insurance 73,980 AUD
Policy Change Supervisor Insurance 50,620 AUD
Policy Change Technician Insurance 23,660 AUD
Risk Analyst Insurance 55,840 AUD
Risk Management Director Insurance 88,020 AUD
Risk Management Supervisor Insurance 59,000 AUD
Risk Manager Insurance 88,620 AUD
Risk Modeling Manager Insurance 88,600 AUD
Title Insurance Typist Insurance 39,420 AUD
Training Manager Insurance 51,120 AUD

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