Average Compliance Officer Salary in British Virgin Islands for 2024

In this article, we will look at the average Compliance Officer salary for 2024 in British Virgin Islands 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 Compliance Officer Make in British Virgin Islands?

A Compliance Officer working in British Virgin Islands will typically earn around 16,980 USD per year, and this can range from the lowest average salary of about 9,020 USD to the highest average salary of 30,800 USD.

Average Annual Salary
16,980 USD
Average Monthly Salary
1,415 USD

Lowest Annual Salary
9,020 USD
Lowest Monthly Salary
751 USD

Highest Annual Salary
30,800 USD
Highest Monthly Salary
2,566 USD

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

Compliance Officer 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 Compliance Officer Salaries in British Virgin Islands

So we've looked at the average salaries a Compliance Officer will earn in British Virgin Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Compliance Officer can earn between 9,020 USD and 30,800 USD on average in British Virgin Islands. 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 Compliance Officer in British Virgin Islands is 21,540 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 21,540 USD, and 50% of the population earn more than 21,540 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 Compliance Officer salary in British Virgin Islands, 25% of the population are earning less than 13,540 USD while 75% of the population earn more than 13,540 USD.

75% of the population earn less than 25,440 USD, and 25% of the population earn more than 25,440 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.

Compliance Officer Salary by Experience Level in British Virgin Islands

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 compliance officer 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 Compliance Officer in British Virgin Islands that has less than two years of experience can expect to earn somewhere in the region of 7,820 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Compliance Officer salary would increase to 11,360 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Compliance Officer, the average salary would be 18,280 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 24,280 USD.
  • 15 - 20 Years Experience. A Compliance Officer with 15 to 20 years of experience can earn an average of 27,020 USD.
  • 20+ Years Experience. For a Compliance Officer with more than 20 years, the expected average salary increases to 28,180 USD.

Average Salary by Experience Chart

0-2 Years
7,820 USD
2-5 Years +34%
11,360 USD
5-10 Years +48%
18,280 USD
10-15 Years +22%
24,280 USD
15-20 Years +9%
27,020 USD
20+ Years +8%
28,180 USD

Compliance Officer Salary by Education Level in British Virgin Islands

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 Compliance Officer in British Virgin Islands 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 Compliance Officer in British Virgin Islands with a certificate or diploma education can earn an average salary of 12,840 USD.

  • Bachelor's Degree. A Compliance Officer in British Virgin Islands with a bachelor's degree education can earn an average salary of 18,780 USD.

  • Master's Degree. A Compliance Officer in British Virgin Islands with a master's degree education can earn an average salary of 30,840 USD.

Average Salary by Education Chart

Certificate or Diploma
12,840 USD
Bachelor's Degree +57%
18,780 USD
Master's Degree +68%
30,840 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 British Virgin Islands is around 9,160 to 27,500 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.

Compliance Officer 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 British Virgin Islands, a male compliance officer will earn an average of 19,160 USD, while a female compliance officer will earn around 16,720 USD.

This means that a male compliance officer earns approximately 15% more than a female compliance officer for performing the same job.

Average Salary by Gender Chart in British Virgin Islands

Male
19,160 USD
Female -15%
16,720 USD

Compliance Officer Average Pay Raise in British Virgin Islands

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 Compliance Officer in British Virgin Islands is around 6% every 29 months.

The national average pay raise across all professions and industries in British Virgin Islands 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 ÷ 29 ) × 12  = 2%

What this means is that a Compliance Officer in British Virgin Islands can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in British Virgin Islands for 2024

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

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%

Compliance Officer Bonus and Incentive Rates in British Virgin Islands

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 Compliance Officer is a low bonus based job, with 16% of employees reporting at least one bonus in the last 12 months.

84% 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
16%
No Bonus
84%

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 British Virgin Islands earn approximately 11% more than private sector employees in the same role.

Public Sector
23,660 USD
Private Sector -11%
21,380 USD

Salaries for Jobs Similar to a Compliance Officer

In the table below, we have salary information for jobs that are similar to a Compliance Officer in British Virgin Islands.

Job Title Category Salary
Actuarial Analyst Insurance 30,700 USD
Actuarial Assistant Insurance 20,460 USD
Actuarial Specialist Insurance 21,380 USD
Actuary Insurance 30,800 USD
Adjustment Insurance Clerk Insurance 6,440 USD
Assistant Broker Insurance 13,960 USD
Assistant Claims Manager Insurance 25,680 USD
Associate Insurance Representative Insurance 12,520 USD
Auditing Insurance Manager Insurance 34,160 USD
Broker Insurance 21,300 USD
Claim Advocacy Professional Insurance 21,300 USD
Claims Adjuster Insurance 7,240 USD
Claims Analyst Insurance 10,000 USD
Claims Examiner Insurance 13,660 USD
Claims Manager Insurance 30,700 USD
Claims Processor Insurance 8,960 USD
Claims Representative Insurance 9,140 USD
Claims Resolution Specialist Insurance 22,420 USD
Claims Supervisor Insurance 21,980 USD
Complaints Specialist Insurance 20,940 USD
Compliance Examiner Insurance 20,460 USD
Compliance Reviewer Insurance 21,100 USD
Consultant Insurance 22,660 USD
Eligibility Interviewer Insurance 24,840 USD
Eligibility Specialist Insurance 20,000 USD
Insurance Account Manager Insurance 26,080 USD
Insurance Accounts Executive Insurance 23,480 USD
Insurance Adjuster Insurance 21,640 USD
Insurance Agent Insurance 11,880 USD
Insurance Analyst Insurance 19,940 USD
Insurance Appraiser Insurance 19,980 USD
Insurance Claims Clerk Insurance 8,780 USD
Insurance Examiner Insurance 21,640 USD
Insurance Investigator Insurance 21,100 USD
Insurance Manager Insurance 36,700 USD
Insurance Operations Manager Insurance 36,800 USD
Insurance Policy Processing Clerk Insurance 10,100 USD
Insurance Pricing Assistant Insurance 15,380 USD
Insurance Program Manager Insurance 27,020 USD
Insurance Project Manager Insurance 29,320 USD
Insurance Quality Assurance Agent Insurance 17,760 USD
Insurance Sales Agent Insurance 12,620 USD
Insurance Sales Director Insurance 39,640 USD
Insurance Sales Manager Insurance 26,400 USD
Insurance Sales Representative Insurance 10,000 USD
Insurance Team Leader Insurance 22,540 USD
Insurance Underwriter Insurance 15,300 USD
Loss Control Specialist Insurance 21,400 USD
Loss Prevention Investigator Insurance 24,820 USD
Loss Prevention Manager Insurance 31,940 USD
Loss Prevention Specialist Insurance 23,500 USD
Marine Underwriter Insurance 16,340 USD
Medical Auditor Insurance 22,420 USD
Monitoring and Performance Officer Insurance 17,260 USD
Payment Services Specialist Insurance 21,980 USD
Policy Change Director Insurance 37,740 USD
Policy Change Supervisor Insurance 24,820 USD
Policy Change Technician Insurance 10,220 USD
Risk Analyst Insurance 24,800 USD
Risk Management Director Insurance 45,560 USD
Risk Management Supervisor Insurance 25,660 USD
Risk Manager Insurance 42,400 USD
Risk Modeling Manager Insurance 43,260 USD
Title Insurance Typist Insurance 18,280 USD
Training Manager Insurance 23,660 USD

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