Average Compliance Officer Salary in El Salvador for 2024

In this article, we will look at the average Compliance Officer salary for 2024 in El Salvador 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 El Salvador?

A Compliance Officer working in El Salvador will typically earn around 16,400 USD per year, and this can range from the lowest average salary of about 10,100 USD to the highest average salary of 26,020 USD.

Average Annual Salary
16,400 USD
Average Monthly Salary
1,366 USD

Lowest Annual Salary
10,100 USD
Lowest Monthly Salary
841 USD

Highest Annual Salary
26,020 USD
Highest Monthly Salary
2,168 USD

These are average salaries for a Compliance Officer in El Salvador 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 El Salvador

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

Salary ranges

We already know that a Compliance Officer can earn between 10,100 USD and 26,020 USD on average in El Salvador. 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 El Salvador is 15,580 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 15,580 USD, and 50% of the population earn more than 15,580 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 El Salvador, 25% of the population are earning less than 12,300 USD while 75% of the population earn more than 12,300 USD.

75% of the population earn less than 19,020 USD, and 25% of the population earn more than 19,020 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 El Salvador

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 El Salvador that has less than two years of experience can expect to earn somewhere in the region of 8,100 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Compliance Officer salary would increase to 13,540 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Compliance Officer, the average salary would be 15,380 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 19,160 USD.
  • 15 - 20 Years Experience. A Compliance Officer with 15 to 20 years of experience can earn an average of 23,380 USD.
  • 20+ Years Experience. For a Compliance Officer with more than 20 years, the expected average salary increases to 22,660 USD.

Average Salary by Experience Chart

0-2 Years
8,100 USD
2-5 Years +34%
13,540 USD
5-10 Years +30%
15,380 USD
10-15 Years +21%
19,160 USD
15-20 Years +9%
23,380 USD
20+ Years +5%
22,660 USD

Compliance Officer Salary by Education Level in El Salvador

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 El Salvador 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 El Salvador with a certificate or diploma education can earn an average salary of 10,000 USD.

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

  • Master's Degree. A Compliance Officer in El Salvador with a master's degree education can earn an average salary of 23,080 USD.

Average Salary by Education Chart

Certificate or Diploma
10,000 USD
Bachelor's Degree +52%
18,780 USD
Master's Degree +42%
23,080 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 El Salvador is around 8,530 to 25,600 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 El Salvador, a male compliance officer will earn an average of 16,720 USD, while a female compliance officer will earn around 17,100 USD.

This means that a male compliance officer earns approximately 2% less than a female compliance officer for performing the same job.

Average Salary by Gender Chart in El Salvador

Male
16,720 USD
Female +2%
17,100 USD

Compliance Officer Average Pay Raise in El Salvador

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 El Salvador is around 6% every 29 months.

The national average pay raise across all professions and industries in El Salvador 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 El Salvador can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in El Salvador for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Compliance Officer Bonus and Incentive Rates in El Salvador

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 10% of employees reporting at least one bonus in the last 12 months.

90% 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
10%
No Bonus
90%

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 El Salvador earn approximately 39% more than private sector employees in the same role.

Public Sector
23,520 USD
Private Sector -39%
16,980 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 El Salvador.

Job Title Category Salary
Actuarial Analyst Insurance 26,660 USD
Actuarial Assistant Insurance 20,300 USD
Actuarial Specialist Insurance 19,160 USD
Actuary Insurance 27,620 USD
Adjustment Insurance Clerk Insurance 6,080 USD
Assistant Broker Insurance 13,780 USD
Assistant Claims Manager Insurance 19,980 USD
Associate Insurance Representative Insurance 9,960 USD
Auditing Insurance Manager Insurance 31,080 USD
Broker Insurance 19,380 USD
Claim Advocacy Professional Insurance 19,860 USD
Claims Adjuster Insurance 7,620 USD
Claims Analyst Insurance 10,220 USD
Claims Examiner Insurance 9,960 USD
Claims Manager Insurance 29,540 USD
Claims Processor Insurance 7,300 USD
Claims Representative Insurance 9,020 USD
Claims Resolution Specialist Insurance 22,540 USD
Claims Supervisor Insurance 19,160 USD
Complaints Specialist Insurance 20,300 USD
Compliance Examiner Insurance 18,280 USD
Compliance Reviewer Insurance 19,640 USD
Consultant Insurance 19,160 USD
Eligibility Interviewer Insurance 20,940 USD
Eligibility Specialist Insurance 19,480 USD
Insurance Account Manager Insurance 24,720 USD
Insurance Accounts Executive Insurance 22,540 USD
Insurance Adjuster Insurance 18,940 USD
Insurance Agent Insurance 13,660 USD
Insurance Analyst Insurance 21,100 USD
Insurance Appraiser Insurance 21,400 USD
Insurance Claims Clerk Insurance 5,960 USD
Insurance Examiner Insurance 18,780 USD
Insurance Investigator Insurance 19,860 USD
Insurance Manager Insurance 35,300 USD
Insurance Operations Manager Insurance 35,300 USD
Insurance Policy Processing Clerk Insurance 7,040 USD
Insurance Pricing Assistant Insurance 14,140 USD
Insurance Program Manager Insurance 26,080 USD
Insurance Project Manager Insurance 27,380 USD
Insurance Quality Assurance Agent Insurance 16,720 USD
Insurance Sales Agent Insurance 12,520 USD
Insurance Sales Director Insurance 30,700 USD
Insurance Sales Manager Insurance 24,200 USD
Insurance Sales Representative Insurance 12,300 USD
Insurance Team Leader Insurance 23,520 USD
Insurance Underwriter Insurance 14,920 USD
Loss Control Specialist Insurance 20,520 USD
Loss Prevention Investigator Insurance 20,940 USD
Loss Prevention Manager Insurance 28,660 USD
Loss Prevention Specialist Insurance 19,940 USD
Marine Underwriter Insurance 17,020 USD
Medical Auditor Insurance 19,160 USD
Monitoring and Performance Officer Insurance 12,620 USD
Payment Services Specialist Insurance 20,520 USD
Policy Change Director Insurance 31,960 USD
Policy Change Supervisor Insurance 21,400 USD
Policy Change Technician Insurance 9,980 USD
Risk Analyst Insurance 20,000 USD
Risk Management Director Insurance 39,560 USD
Risk Management Supervisor Insurance 23,360 USD
Risk Manager Insurance 36,160 USD
Risk Modeling Manager Insurance 38,680 USD
Title Insurance Typist Insurance 17,540 USD
Training Manager Insurance 21,300 USD

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