Average Compliance Specialist Salary in Colombia for 2024

In this article, we will look at the average Compliance Specialist salary for 2024 in Colombia 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 Colombian peso. To keep things simple, we are using the COP currency code instead of the currency symbol $.

How Much Does a Compliance Specialist Make in Colombia?

A Compliance Specialist working in Colombia will typically earn around 76,199,500 COP per year, and this can range from the lowest average salary of about 38,158,300 COP to the highest average salary of 118,079,000 COP.

Average Annual Salary
76,199,500 COP
Average Monthly Salary
6,349,958 COP

Lowest Annual Salary
38,158,300 COP
Lowest Monthly Salary
3,179,858 COP

Highest Annual Salary
118,079,000 COP
Highest Monthly Salary
9,839,916 COP

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

Compliance Specialist 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 Specialist Salaries in Colombia

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

Salary ranges

We already know that a Compliance Specialist can earn between 38,158,300 COP and 118,079,000 COP on average in Colombia. 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 Specialist in Colombia is 76,199,500 COP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 76,199,500 COP, and 50% of the population earn more than 76,199,500 COP.

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 Specialist salary in Colombia, 25% of the population are earning less than 51,479,800 COP while 75% of the population earn more than 51,479,800 COP.

75% of the population earn less than 97,199,500 COP, and 25% of the population earn more than 97,199,500 COP.

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 Specialist Salary by Experience Level in Colombia

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 specialist 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 Specialist in Colombia that has less than two years of experience can expect to earn somewhere in the region of 45,719,900 COP.
  • 2 - 5 Years Experience. With two to five years of experience the average Compliance Specialist salary would increase to 60,481,000 COP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Compliance Specialist, the average salary would be 80,881,800 COP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 96,478,500 COP.
  • 15 - 20 Years Experience. A Compliance Specialist with 15 to 20 years of experience can earn an average of 104,159,300 COP.
  • 20+ Years Experience. For a Compliance Specialist with more than 20 years, the expected average salary increases to 111,720,700 COP.

Average Salary by Experience Chart

0-2 Years
45,719,900 COP
2-5 Years +32%
60,481,000 COP
5-10 Years +34%
80,881,800 COP
10-15 Years +19%
96,478,500 COP
15-20 Years +8%
104,159,300 COP
20+ Years +7%
111,720,700 COP

Compliance Specialist Salary by Education Level in Colombia

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 Specialist in Colombia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Compliance Specialist in Colombia with a bachelor's degree education can earn an average salary of 65,280,600 COP.

  • Master's Degree. A Compliance Specialist in Colombia with a master's degree education can earn an average salary of 102,960,500 COP.

Average Salary by Education Chart

Bachelor's Degree
65,280,600 COP
Master's Degree +58%
102,960,500 COP

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 Colombia is around 23,500,000 to 70,400,000 COP 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 Specialist 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 Colombia, a male compliance specialist will earn an average of 78,241,300 COP, while a female compliance specialist will earn around 73,681,000 COP.

This means that a male compliance specialist earns approximately 6% more than a female compliance specialist for performing the same job.

Average Salary by Gender Chart in Colombia

Male
78,241,300 COP
Female -6%
73,681,000 COP

Compliance Specialist Average Pay Raise in Colombia

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 Specialist in Colombia is around 10% every 20 months.

The national average pay raise across all professions and industries in Colombia is around 7% every 19 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 = ( 10 ÷ 20 ) × 12  = 6%

What this means is that a Compliance Specialist in Colombia can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Colombia for 2024

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

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 Specialist Bonus and Incentive Rates in Colombia

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 Specialist is a moderate bonus based job, with 53% of employees reporting at least one bonus in the last 12 months.

47% 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 3% to 6%.

Received Bonus
53%
No Bonus
47%

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 Colombia earn approximately 11% more than private sector employees in the same role.

Public Sector
58,559,300 COP
Private Sector -11%
52,800,100 COP

Salaries for Jobs Similar to a Compliance Specialist

In the table below, we have salary information for jobs that are similar to a Compliance Specialist in Colombia.

Job Title Category Salary
Assistant Pharmacist Pharmaceutical and Biotechnology 47,999,400 COP
Assistant Pharmacy Director Pharmaceutical and Biotechnology 84,358,700 COP
Associate Medical Affairs Director Pharmaceutical and Biotechnology 119,640,400 COP
Bioinformatics Scientist Pharmaceutical and Biotechnology 114,479,500 COP
Bioinformatics Technician Pharmaceutical and Biotechnology 50,158,700 COP
Biological Scientist Pharmaceutical and Biotechnology 122,398,700 COP
Biological Technician Pharmaceutical and Biotechnology 49,801,000 COP
Biomedical Engineer Pharmaceutical and Biotechnology 47,758,300 COP
Biomedical Engineering Director Pharmaceutical and Biotechnology 87,838,100 COP
Biostatistician Pharmaceutical and Biotechnology 74,639,200 COP
Biotechnologist Pharmaceutical and Biotechnology 73,319,100 COP
Biotechnology Lead Data Manager Pharmaceutical and Biotechnology 56,041,700 COP
Chemical Process Technician Pharmaceutical and Biotechnology 50,878,500 COP
Clinical Consultant Pharmaceutical and Biotechnology 72,361,800 COP
Clinical Data Manager Pharmaceutical and Biotechnology 75,959,500 COP
Clinical Data Specialist Pharmaceutical and Biotechnology 66,240,600 COP
Clinical Informatics Specialist Pharmaceutical and Biotechnology 54,719,600 COP
Clinical Operations Manager Pharmaceutical and Biotechnology 99,838,700 COP
Clinical Pharmacist Pharmaceutical and Biotechnology 74,161,900 COP
Clinical Pharmacy Specialist Pharmaceutical and Biotechnology 87,721,200 COP
Clinical Programmer Pharmaceutical and Biotechnology 39,481,900 COP
Clinical Project Manager Pharmaceutical and Biotechnology 66,240,600 COP
Clinical Research Associate Pharmaceutical and Biotechnology 62,519,300 COP
Clinical Research Manager Pharmaceutical and Biotechnology 106,319,100 COP
Clinical Study Manager Pharmaceutical and Biotechnology 89,398,800 COP
Cytology Laboratory Technologist Pharmaceutical and Biotechnology 58,079,300 COP
Cytotechnologist Pharmaceutical and Biotechnology 60,841,800 COP
GCP Auditor Pharmaceutical and Biotechnology 60,239,600 COP
Hospital Pharmacy Technician Pharmaceutical and Biotechnology 56,158,300 COP
Manufacturing Engineer Pharmaceutical and Biotechnology 62,519,300 COP
Medical Affairs Director Pharmaceutical and Biotechnology 111,720,700 COP
Medical Representative Pharmaceutical and Biotechnology 47,640,400 COP
Medical Science Liaison Pharmaceutical and Biotechnology 84,479,000 COP
Molecular and Cellular Biologist Pharmaceutical and Biotechnology 115,918,500 COP
Nuclear Pharmacist Pharmaceutical and Biotechnology 72,840,900 COP
Pharmaceutical Manager Pharmaceutical and Biotechnology 124,799,100 COP
Pharmaceutical Manufacturing Lead Pharmaceutical and Biotechnology 140,401,100 COP
Pharmaceutical Operations Excellence Manager Pharmaceutical and Biotechnology 111,961,900 COP
Pharmaceutical Process Engineer Pharmaceutical and Biotechnology 66,841,000 COP
Pharmaceutical Production Assistant Manager Pharmaceutical and Biotechnology 81,961,200 COP
Pharmaceutical Project Manager Pharmaceutical and Biotechnology 76,560,700 COP
Pharmaceutical Quality Auditor Pharmaceutical and Biotechnology 81,119,300 COP
Pharmaceutical Regulatory Affairs Assistant Pharmaceutical and Biotechnology 60,119,800 COP
Pharmaceutical Regulatory Affairs Manager Pharmaceutical and Biotechnology 77,758,500 COP
Pharmaceutical Regulatory Affairs Specialist Pharmaceutical and Biotechnology 63,241,900 COP
Pharmaceutical Representative Pharmaceutical and Biotechnology 49,438,400 COP
Pharmaceutical Research Associate Pharmaceutical and Biotechnology 73,319,100 COP
Pharmaceutical Research Scientist Pharmaceutical and Biotechnology 102,960,500 COP
Pharmaceutical Researcher Pharmaceutical and Biotechnology 101,281,000 COP
Pharmaceutical Sales and Marketing Manager Pharmaceutical and Biotechnology 91,319,700 COP
Pharmaceutical Sales Manager Pharmaceutical and Biotechnology 102,840,200 COP
Pharmaceutical Sales Representative Pharmaceutical and Biotechnology 49,198,300 COP
Pharmaceutical Supply Chain Manager Pharmaceutical and Biotechnology 110,158,800 COP
Pharmaceutical Team Leader Pharmaceutical and Biotechnology 79,438,400 COP
Pharmaceutical Technologist Pharmaceutical and Biotechnology 52,918,800 COP
Pharmacist Pharmaceutical and Biotechnology 72,840,900 COP
Pharmacy Aide Pharmaceutical and Biotechnology 49,801,000 COP
Pharmacy Manager Pharmaceutical and Biotechnology 97,561,300 COP
Pharmacy Stock Controller Pharmaceutical and Biotechnology 40,799,600 COP
Pharmacy Technician Pharmaceutical and Biotechnology 42,119,100 COP
Records Management Coordinator Pharmaceutical and Biotechnology 40,439,700 COP
Shift Encapsulator Pharmaceutical and Biotechnology 43,321,300 COP
Staff Pharmacist Pharmaceutical and Biotechnology 69,479,600 COP

Salary Comparison by City

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

City Average Salary
Barranquilla 62,040,000 COP
Bello 61,200,700 COP
Bogota 67,139,400 COP
Bucaramanga 61,139,700 COP
Buenaventura 59,820,950 COP
Cartagena 63,180,650 COP
Cucuta 64,258,400 COP
Ibague 64,980,700 COP
Manizales 56,878,550 COP
Medellin 65,759,450 COP
Monteria 58,740,550 COP
Neiva 54,839,950 COP
Pereira 59,760,600 COP
Santa Marta 60,900,400 COP
Soacha 62,638,450 COP
Soledad 62,879,750 COP
Valledupar 56,820,450 COP
Villavicencio 62,098,600 COP

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