Average Exchange Control Consultant Salary in Tonga for 2024

In this article, we will look at the average Exchange Control Consultant salary for 2024 in Tonga 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 Tongan paʻanga. To keep things simple, we are using the TOP currency code instead of the currency symbol T$.

How Much Does an Exchange Control Consultant Make in Tonga?

An Exchange Control Consultant working in Tonga will typically earn around 29,040 TOP per year, and this can range from the lowest average salary of about 13,780 TOP to the highest average salary of 43,220 TOP.

Average Annual Salary
29,040 TOP
Average Monthly Salary
2,420 TOP

Lowest Annual Salary
13,780 TOP
Lowest Monthly Salary
1,148 TOP

Highest Annual Salary
43,220 TOP
Highest Monthly Salary
3,601 TOP

These are average salaries for an Exchange Control Consultant in Tonga and include benefits such as housing and transport. It's also possible for an Exchange Control Consultant to earn more or less than the average salaries shown above.

Exchange Control Consultant 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 Exchange Control Consultant Salaries in Tonga

So we've looked at the average salaries an Exchange Control Consultant will earn in Tonga. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Exchange Control Consultant can earn between 13,780 TOP and 43,220 TOP on average in Tonga. 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 an Exchange Control Consultant in Tonga is 28,720 TOP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 28,720 TOP, and 50% of the population earn more than 28,720 TOP.

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 Exchange Control Consultant salary in Tonga, 25% of the population are earning less than 20,300 TOP while 75% of the population earn more than 20,300 TOP.

75% of the population earn less than 38,260 TOP, and 25% of the population earn more than 38,260 TOP.

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.

Exchange Control Consultant Salary by Experience Level in Tonga

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 exchange control consultant 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. An Exchange Control Consultant in Tonga that has less than two years of experience can expect to earn somewhere in the region of 17,260 TOP.
  • 2 - 5 Years Experience. With two to five years of experience the average Exchange Control Consultant salary would increase to 23,520 TOP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Exchange Control Consultant, the average salary would be 26,860 TOP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 36,940 TOP.
  • 15 - 20 Years Experience. An Exchange Control Consultant with 15 to 20 years of experience can earn an average of 35,420 TOP.
  • 20+ Years Experience. For an Exchange Control Consultant with more than 20 years, the expected average salary increases to 41,900 TOP.

Average Salary by Experience Chart

0-2 Years
17,260 TOP
2-5 Years +42%
23,520 TOP
5-10 Years +31%
26,860 TOP
10-15 Years +23%
36,940 TOP
15-20 Years +6%
35,420 TOP
20+ Years +10%
41,900 TOP

Exchange Control Consultant Salary by Education Level in Tonga

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 an Exchange Control Consultant in Tonga 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. An Exchange Control Consultant in Tonga with a bachelor's degree education can earn an average salary of 25,220 TOP.

  • Master's Degree. An Exchange Control Consultant in Tonga with a master's degree education can earn an average salary of 35,340 TOP.

Average Salary by Education Chart

Bachelor's Degree
25,220 TOP
Master's Degree +43%
35,340 TOP

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 Tonga is around 9,110 to 27,300 TOP 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.

Exchange Control Consultant 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 Tonga, a male exchange control consultant will earn an average of 28,900 TOP, while a female exchange control consultant will earn around 25,720 TOP.

This means that a male exchange control consultant earns approximately 12% more than a female exchange control consultant for performing the same job.

Average Salary by Gender Chart in Tonga

Male
28,900 TOP
Female -12%
25,720 TOP

Exchange Control Consultant Average Pay Raise in Tonga

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 an Exchange Control Consultant in Tonga is around 9% every 27 months.

The national average pay raise across all professions and industries in Tonga 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 = ( 9 ÷ 27 ) × 12  = 4%

What this means is that an Exchange Control Consultant in Tonga can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Tonga for 2024

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

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%

Exchange Control Consultant Bonus and Incentive Rates in Tonga

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.

An Exchange Control Consultant is a moderate bonus based job, with 65% of employees reporting at least one bonus in the last 12 months.

35% 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 5% to 9%.

Received Bonus
65%
No Bonus
35%

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 Tonga earn approximately 16% more than private sector employees in the same role.

Public Sector
22,660 TOP
Private Sector -16%
19,480 TOP

Salaries for Jobs Similar to an Exchange Control Consultant

In the table below, we have salary information for jobs that are similar to an Exchange Control Consultant in Tonga.

Job Title Category Salary
AML Analyst Banking 35,300 TOP
Assistant Bank Branch Manager Banking 30,700 TOP
Assistant Bank Manager Banking 40,240 TOP
ATM Manager Banking 32,420 TOP
ATM Service Technician Banking 10,380 TOP
Bank Accounts Analyst Banking 10,980 TOP
Bank Accounts Collector Banking 6,440 TOP
Bank Accounts Controller Banking 15,760 TOP
Bank Accounts Executive Banking 25,220 TOP
Bank Accounts Manager Banking 26,860 TOP
Bank Auditing Manager Banking 26,280 TOP
Bank Branch Manager Banking 41,700 TOP
Bank Branch Operations Coordinator Banking 18,780 TOP
Bank Clerk Banking 8,420 TOP
Bank Client Service Associate Banking 9,960 TOP
Bank Collector Banking 8,780 TOP
Bank Compliance Specialist Banking 20,460 TOP
Bank Manager Banking 46,980 TOP
Bank Operational Risk Manager Banking 48,560 TOP
Bank Operations Head Banking 46,160 TOP
Bank Operations Officer Banking 19,200 TOP
Bank Operations Specialist Banking 31,540 TOP
Bank Process Manager Banking 26,100 TOP
Bank Product Manager Banking 28,860 TOP
Bank Programme Manager Banking 33,960 TOP
Bank Project Manager Banking 36,020 TOP
Bank Propositions Manager Banking 36,940 TOP
Bank Quantitative Analyst Banking 22,660 TOP
Bank Regional Manager Banking 47,720 TOP
Bank Regional Risk Officer Banking 23,660 TOP
Bank Relationship Manager Banking 35,000 TOP
Bank Relationship Officer Banking 17,260 TOP
Bank Teller Banking 8,780 TOP
Banker Banking 17,560 TOP
Banking Business Analyst Banking 23,360 TOP
Banking Business Development Officer Banking 13,100 TOP
Banking Business Planning Executive Banking 35,260 TOP
Banking Product Manager Banking 33,440 TOP
Banking Reference Data Manager Banking 28,180 TOP
Banking Risk Analyst Banking 23,660 TOP
Banking Technical Analyst Banking 13,900 TOP
Bankruptcy Coordinator Banking 19,200 TOP
Bill and Account Collector Banking 7,240 TOP
Budget Analyst Banking 25,680 TOP
Capital Risk Manager Banking 46,980 TOP
Cards Marketing Manager Banking 29,320 TOP
Cash Management Manager Banking 44,300 TOP
Check Processing Manager Banking 33,440 TOP
Commercial Vault Associate Banking 26,020 TOP
Corporate Banker Banking 15,920 TOP
Corporate Dealer Banking 25,680 TOP
Credit Analyst Banking 17,760 TOP
Credit and Collections Manager Banking 31,520 TOP
Credit Card Fraud Investigator Banking 27,020 TOP
Credit Portfolio Manager Banking 47,180 TOP
Credit Risk Analyst Banking 28,660 TOP
Credit Risk Associate Banking 23,700 TOP
Direct Bank Sales Representative Banking 16,140 TOP
Executive Account Analyst Banking 23,700 TOP
Financial Bank Planning Consultant Banking 29,640 TOP
Financial Banking Analysis Manager Banking 39,640 TOP
Financial Banking Assistant Banking 10,000 TOP
Financial Banking Systems Manager Banking 31,520 TOP
Foreign Exchange Manager Banking 35,000 TOP
Fraud Analyst Banking 25,660 TOP
Fraud Detection Associate Banking 19,220 TOP
Fraud Detection Manager Banking 41,980 TOP
Fraud Detection Supervisor Banking 22,420 TOP
Internal Bank Audit Manager Banking 43,080 TOP
Internal Bank Auditor Banking 22,340 TOP
Internal Private Banker Banking 19,220 TOP
International Banking Manager Banking 50,980 TOP
Investment Banking Analyst Banking 35,000 TOP
Loan Analyst Banking 23,140 TOP
Loan Area Manager Banking 27,560 TOP
Loan Audit Team Leader Banking 26,660 TOP
Loan Branch Manager Banking 26,100 TOP
Loan Business Development Officer Banking 17,020 TOP
Loan Clerk Banking 7,800 TOP
Loan Collection and Recovery Manager Banking 26,860 TOP
Loan Collection Manager Banking 29,160 TOP
Loan Collector Banking 8,420 TOP
Loan Examiner Banking 12,300 TOP
Loan Officer Banking 9,140 TOP
Loan Processing Manager Banking 28,820 TOP
Loan Processor Banking 12,520 TOP
Loan Quality Assurance Auditor Banking 23,480 TOP
Loan Quality Assurance Manager Banking 26,500 TOP
Loan Quality Assurance Representative Banking 17,760 TOP
Loan Review Manager Banking 26,400 TOP
Loan Team Leader Banking 24,860 TOP
Loans Manager Banking 31,340 TOP
Mortgage Advisor Banking 18,780 TOP
Mortgage Collection Manager Banking 29,540 TOP
Mortgage Collector Banking 8,420 TOP
Mortgage Credit Analyst Banking 13,780 TOP
Mortgage Credit Manager Banking 26,280 TOP
Mortgage Development Manager Banking 33,960 TOP
Mortgage Document Reviewer Banking 11,300 TOP
Mortgage Funding Manager Banking 31,380 TOP
Mortgage Operations Manager Banking 40,040 TOP
Mortgage Payment Processing Clerk Banking 9,440 TOP
Mortgage Processing Manager Banking 28,660 TOP
Mortgage Processor Banking 12,760 TOP
Mortgage Quality Assurance Auditor Banking 23,260 TOP
Mortgage Quality Assurance Manager Banking 28,720 TOP
Mortgage Servicing Clerk Banking 9,360 TOP
Mortgage Servicing Manager Banking 29,840 TOP
Mortgage Underwriter Banking 12,300 TOP
Online Banking Manager Banking 43,340 TOP
Payment Processing Clerk Banking 10,320 TOP
Personal Banker Banking 19,640 TOP
Personal Banking Advisor Banking 17,760 TOP
Phone Banker Banking 12,520 TOP
Private Banker Banking 17,560 TOP
Reconciliation and Investigation Specialist Banking 21,380 TOP
Tax Officer Banking 13,560 TOP
Teller Banking 9,020 TOP
Trade Officer Banking 9,140 TOP
Trade Product Manager Banking 28,900 TOP
Trader Banking 11,040 TOP
Treasury Operations Officer Banking 21,020 TOP

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