Average Claims Processor Salary in Puerto Rico for 2024

In this article, we will look at the average Claims Processor salary for 2024 in Puerto Rico 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 Claims Processor Make in Puerto Rico?

A Claims Processor working in Puerto Rico will typically earn around 7,910 USD per year, and this can range from the lowest average salary of about 3,050 USD to the highest average salary of 10,800 USD.

Average Annual Salary
7,910 USD
Average Monthly Salary
659 USD

Lowest Annual Salary
3,050 USD
Lowest Monthly Salary
254 USD

Highest Annual Salary
10,800 USD
Highest Monthly Salary
900 USD

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

Claims Processor 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 Claims Processor Salaries in Puerto Rico

So we've looked at the average salaries a Claims Processor will earn in Puerto Rico. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Claims Processor can earn between 3,050 USD and 10,800 USD on average in Puerto Rico. 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 Claims Processor in Puerto Rico is 5,520 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 5,520 USD, and 50% of the population earn more than 5,520 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 Claims Processor salary in Puerto Rico, 25% of the population are earning less than 6,300 USD while 75% of the population earn more than 6,300 USD.

75% of the population earn less than 6,570 USD, and 25% of the population earn more than 6,570 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.

Claims Processor Salary by Experience Level in Puerto Rico

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 claims processor 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 Claims Processor in Puerto Rico that has less than two years of experience can expect to earn somewhere in the region of 6,390 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Claims Processor salary would increase to 5,490 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Claims Processor, the average salary would be 7,030 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 8,480 USD.
  • 15 - 20 Years Experience. A Claims Processor with 15 to 20 years of experience can earn an average of 11,640 USD.
  • 20+ Years Experience. For a Claims Processor with more than 20 years, the expected average salary increases to 9,500 USD.

Average Salary by Experience Chart

0-2 Years
6,390 USD
2-5 Years +26%
5,490 USD
5-10 Years +32%
7,030 USD
10-15 Years +18%
8,480 USD
15-20 Years +11%
11,640 USD
20+ Years +6%
9,500 USD

Claims Processor Salary by Education Level in Puerto Rico

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 Claims Processor in Puerto Rico 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 Claims Processor in Puerto Rico with a certificate or diploma education can earn an average salary of 6,960 USD.

  • Bachelor's Degree. A Claims Processor in Puerto Rico with a bachelor's degree education can earn an average salary of 10,380 USD.

Average Salary by Education Chart

Certificate or Diploma
6,960 USD
Bachelor's Degree +49%
10,380 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 Puerto Rico is around 8,390 to 25,200 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.

Claims Processor 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 Puerto Rico, a male claims processor will earn an average of 7,670 USD, while a female claims processor will earn around 8,040 USD.

This means that a male claims processor earns approximately 5% less than a female claims processor for performing the same job.

Average Salary by Gender Chart in Puerto Rico

Male
7,670 USD
Female +5%
8,040 USD

Claims Processor Average Pay Raise in Puerto Rico

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 Claims Processor in Puerto Rico is around 6% every 28 months.

The national average pay raise across all professions and industries in Puerto Rico 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 = ( 6 ÷ 28 ) × 12  = 3%

What this means is that a Claims Processor in Puerto Rico can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Puerto Rico for 2024

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

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%

Claims Processor Bonus and Incentive Rates in Puerto Rico

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 Claims Processor is a low bonus based job, with 7% of employees reporting at least one bonus in the last 12 months.

93% 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
7%
No Bonus
93%

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

Public Sector
23,400 USD
Private Sector -23%
19,000 USD

Salaries for Jobs Similar to a Claims Processor

In the table below, we have salary information for jobs that are similar to a Claims Processor in Puerto Rico.

Job Title Category Salary
Actuarial Analyst Insurance 26,500 USD
Actuarial Assistant Insurance 17,900 USD
Actuarial Specialist Insurance 19,000 USD
Actuary Insurance 27,600 USD
Adjustment Insurance Clerk Insurance 8,040 USD
Assistant Broker Insurance 13,900 USD
Assistant Claims Manager Insurance 20,000 USD
Associate Insurance Representative Insurance 7,820 USD
Auditing Insurance Manager Insurance 30,700 USD
Broker Insurance 20,400 USD
Claim Advocacy Professional Insurance 18,900 USD
Claims Adjuster Insurance 7,910 USD
Claims Analyst Insurance 8,980 USD
Claims Examiner Insurance 7,820 USD
Claims Manager Insurance 29,600 USD
Claims Representative Insurance 7,230 USD
Claims Resolution Specialist Insurance 20,000 USD
Claims Supervisor Insurance 19,200 USD
Complaints Specialist Insurance 18,600 USD
Compliance Examiner Insurance 16,300 USD
Compliance Officer Insurance 16,400 USD
Compliance Reviewer Insurance 15,700 USD
Consultant Insurance 19,200 USD
Eligibility Interviewer Insurance 21,400 USD
Eligibility Specialist Insurance 20,200 USD
Insurance Account Manager Insurance 23,400 USD
Insurance Accounts Executive Insurance 20,000 USD
Insurance Adjuster Insurance 20,200 USD
Insurance Agent Insurance 12,200 USD
Insurance Analyst Insurance 20,400 USD
Insurance Appraiser Insurance 22,000 USD
Insurance Claims Clerk Insurance 7,910 USD
Insurance Examiner Insurance 18,600 USD
Insurance Investigator Insurance 18,600 USD
Insurance Manager Insurance 32,600 USD
Insurance Operations Manager Insurance 31,400 USD
Insurance Policy Processing Clerk Insurance 8,490 USD
Insurance Pricing Assistant Insurance 16,300 USD
Insurance Program Manager Insurance 27,300 USD
Insurance Project Manager Insurance 25,300 USD
Insurance Quality Assurance Agent Insurance 15,700 USD
Insurance Sales Agent Insurance 12,800 USD
Insurance Sales Director Insurance 30,300 USD
Insurance Sales Manager Insurance 23,600 USD
Insurance Sales Representative Insurance 8,980 USD
Insurance Team Leader Insurance 22,600 USD
Insurance Underwriter Insurance 15,200 USD
Loss Control Specialist Insurance 19,200 USD
Loss Prevention Investigator Insurance 18,600 USD
Loss Prevention Manager Insurance 26,200 USD
Loss Prevention Specialist Insurance 23,200 USD
Marine Underwriter Insurance 15,200 USD
Medical Auditor Insurance 20,400 USD
Monitoring and Performance Officer Insurance 15,300 USD
Payment Services Specialist Insurance 18,900 USD
Policy Change Director Insurance 29,100 USD
Policy Change Supervisor Insurance 22,600 USD
Policy Change Technician Insurance 8,030 USD
Risk Analyst Insurance 20,700 USD
Risk Management Director Insurance 36,800 USD
Risk Management Supervisor Insurance 22,200 USD
Risk Manager Insurance 38,100 USD
Risk Modeling Manager Insurance 35,000 USD
Title Insurance Typist Insurance 18,800 USD
Training Manager Insurance 23,000 USD

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