Average Financial Claims Manager Salary in Guernsey for 2024

In this article, we will look at the average Financial Claims Manager salary for 2024 in Guernsey 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 British pound. To keep things simple, we are using the GBP currency code instead of the currency symbol £.

How Much Does a Financial Claims Manager Make in Guernsey?

A Financial Claims Manager working in Guernsey will typically earn around 108,200 GBP per year, and this can range from the lowest average salary of about 51,600 GBP to the highest average salary of 176,300 GBP.

Average Annual Salary
108,200 GBP
Average Monthly Salary
9,016 GBP

Lowest Annual Salary
51,600 GBP
Lowest Monthly Salary
4,300 GBP

Highest Annual Salary
176,300 GBP
Highest Monthly Salary
14,691 GBP

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

Financial Claims Manager 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 Financial Claims Manager Salaries in Guernsey

So we've looked at the average salaries a Financial Claims Manager will earn in Guernsey. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Financial Claims Manager can earn between 51,600 GBP and 176,300 GBP on average in Guernsey. 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 Financial Claims Manager in Guernsey is 118,900 GBP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 118,900 GBP, and 50% of the population earn more than 118,900 GBP.

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 Financial Claims Manager salary in Guernsey, 25% of the population are earning less than 76,600 GBP while 75% of the population earn more than 76,600 GBP.

75% of the population earn less than 158,900 GBP, and 25% of the population earn more than 158,900 GBP.

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.

Financial Claims Manager Salary by Experience Level in Guernsey

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 financial claims manager 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 Financial Claims Manager in Guernsey that has less than two years of experience can expect to earn somewhere in the region of 57,100 GBP.
  • 2 - 5 Years Experience. With two to five years of experience the average Financial Claims Manager salary would increase to 76,000 GBP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Financial Claims Manager, the average salary would be 114,600 GBP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 139,100 GBP.
  • 15 - 20 Years Experience. A Financial Claims Manager with 15 to 20 years of experience can earn an average of 151,800 GBP.
  • 20+ Years Experience. For a Financial Claims Manager with more than 20 years, the expected average salary increases to 164,100 GBP.

Average Salary by Experience Chart

0-2 Years
57,100 GBP
2-5 Years +34%
76,000 GBP
5-10 Years +48%
114,600 GBP
10-15 Years +22%
139,100 GBP
15-20 Years +9%
151,800 GBP
20+ Years +8%
164,100 GBP

Financial Claims Manager Salary by Education Level in Guernsey

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 Financial Claims Manager in Guernsey 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 Financial Claims Manager in Guernsey with a certificate or diploma education can earn an average salary of 64,200 GBP.

  • Bachelor's Degree. A Financial Claims Manager in Guernsey with a bachelor's degree education can earn an average salary of 102,700 GBP.

  • Master's Degree. A Financial Claims Manager in Guernsey with a master's degree education can earn an average salary of 172,300 GBP.

Average Salary by Education Chart

Certificate or Diploma
64,200 GBP
Bachelor's Degree +57%
102,700 GBP
Master's Degree +68%
172,300 GBP

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 Guernsey is around 38,400 to 115,000 GBP 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.

Financial Claims Manager 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 Guernsey, a male financial claims manager will earn an average of 118,900 GBP, while a female financial claims manager will earn around 99,700 GBP.

This means that a male financial claims manager earns approximately 19% more than a female financial claims manager for performing the same job.

Average Salary by Gender Chart in Guernsey

Male
118,900 GBP
Female -19%
99,700 GBP

Financial Claims Manager Average Pay Raise in Guernsey

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 Financial Claims Manager in Guernsey is around 8% every 28 months.

The national average pay raise across all professions and industries in Guernsey 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 = ( 8 ÷ 28 ) × 12  = 3%

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

Annual Pay Raise by Industry in Guernsey for 2024

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

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

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Financial Claims Manager Bonus and Incentive Rates in Guernsey

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 Financial Claims Manager is a moderate bonus based job, with 67% of employees reporting at least one bonus in the last 12 months.

33% 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
67%
No Bonus
33%

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 Guernsey earn approximately 27% more than private sector employees in the same role.

Public Sector
103,600 GBP
Private Sector -27%
81,400 GBP

Salaries for Jobs Similar to a Financial Claims Manager

In the table below, we have salary information for jobs that are similar to a Financial Claims Manager in Guernsey.

Job Title Category Salary
Account Examiner Accounting and Finance 49,000 GBP
Account Executive Accounting and Finance 78,500 GBP
Accountant Accounting and Finance 60,500 GBP
Accounting Analyst Accounting and Finance 75,500 GBP
Accounting Assistant Accounting and Finance 43,800 GBP
Accounting Associate Accounting and Finance 45,600 GBP
Accounting Clerk Accounting and Finance 36,400 GBP
Accounting Coordinator Accounting and Finance 57,200 GBP
Accounting Head Accounting and Finance 124,500 GBP
Accounting Manager Accounting and Finance 138,700 GBP
Accounting Officer Accounting and Finance 44,700 GBP
Accounting Specialist Accounting and Finance 81,000 GBP
Accounting Supervisor Accounting and Finance 83,300 GBP
Accounting Technician Accounting and Finance 45,000 GBP
Accounting Unit Controller Accounting and Finance 100,700 GBP
Accounts Executive Accounting and Finance 81,700 GBP
Accounts Officer Accounting and Finance 46,000 GBP
Accounts Payable and Receivable Specialist Accounting and Finance 60,000 GBP
Accounts Payable Assistant Accounting and Finance 46,700 GBP
Accounts Payable Associate Accounting and Finance 54,900 GBP
Accounts Payable Clerk Accounting and Finance 49,000 GBP
Accounts Payable Manager Accounting and Finance 123,800 GBP
Accounts Receivable Administrator Accounting and Finance 86,600 GBP
Accounts Receivable Clerk Accounting and Finance 48,600 GBP
Accounts Receivable Financial Analyst Accounting and Finance 87,800 GBP
Accounts Receivable Manager Accounting and Finance 121,800 GBP
Accounts Receivable Team Leader Accounting and Finance 92,100 GBP
Assistant Accountant Accounting and Finance 50,000 GBP
Assistant Accounting Manager Accounting and Finance 119,700 GBP
Assistant Auditor Accounting and Finance 60,000 GBP
Assistant Corporate Controller Accounting and Finance 81,000 GBP
Assistant Finance Manager Accounting and Finance 130,400 GBP
Assistant Financial Controller Accounting and Finance 83,700 GBP
Audit Director Accounting and Finance 138,700 GBP
Audit Supervisor Accounting and Finance 109,000 GBP
Auditing Clerk Accounting and Finance 46,000 GBP
Auditing Manager Accounting and Finance 130,500 GBP
Billing Clerk Accounting and Finance 43,800 GBP
Billing Coordinator Accounting and Finance 55,200 GBP
Billing Specialist Accounting and Finance 64,900 GBP
Billing Supervisor Accounting and Finance 92,900 GBP
Bookkeeper Accounting and Finance 40,300 GBP
Bookkeeping Specialist Accounting and Finance 60,400 GBP
Budget Analyst Accounting and Finance 102,700 GBP
Budget Manager Accounting and Finance 123,000 GBP
Business Support Analyst Accounting and Finance 69,400 GBP
Capital Markets Associate Accounting and Finance 98,100 GBP
Cash Flow Analyst Accounting and Finance 99,400 GBP
Cash Management Manager Accounting and Finance 127,700 GBP
Cash Management Officer Accounting and Finance 73,500 GBP
Cashbook Clerk Accounting and Finance 41,400 GBP
Chartered Accountant Accounting and Finance 80,700 GBP
Chief Accountant Accounting and Finance 95,100 GBP
Collections Clerk Accounting and Finance 39,800 GBP
Collections Representative Accounting and Finance 54,300 GBP
Collections Specialist Accounting and Finance 59,800 GBP
Corporate Controller Accounting and Finance 97,300 GBP
Corporate Treasurer Accounting and Finance 114,900 GBP
Cost Accountant Accounting and Finance 58,800 GBP
Cost Accounting Manager Accounting and Finance 115,600 GBP
Cost Accounting Supervisor Accounting and Finance 99,700 GBP
Cost Analyst Accounting and Finance 102,700 GBP
Credit and Collection Manager Accounting and Finance 117,100 GBP
Credit and Collection Staff Accounting and Finance 47,400 GBP
Credit and Loans Officer Accounting and Finance 45,000 GBP
Credit Controller Accounting and Finance 85,800 GBP
Credit Manager Accounting and Finance 130,400 GBP
Debt Adviser Accounting and Finance 103,600 GBP
Debt Collector Accounting and Finance 49,300 GBP
Debtors Clerk Accounting and Finance 42,600 GBP
Debtors Controller Accounting and Finance 44,700 GBP
Deputy CFO Accounting and Finance 176,300 GBP
Deputy Head of Finance Accounting and Finance 172,300 GBP
Derivative Trader Accounting and Finance 105,200 GBP
Director of Finance Accounting and Finance 185,900 GBP
Economist Accounting and Finance 151,800 GBP
Equity Analyst Accounting and Finance 109,700 GBP
Escrow Assistant Accounting and Finance 55,500 GBP
Executive Accountant Accounting and Finance 73,200 GBP
External Auditor Accounting and Finance 86,100 GBP
Finance Administrator Accounting and Finance 73,100 GBP
Finance Analyst Accounting and Finance 112,700 GBP
Finance Associate Accounting and Finance 54,300 GBP
Finance Director Accounting and Finance 177,100 GBP
Finance Executive Accounting and Finance 130,400 GBP
Finance Licensing Clerk Accounting and Finance 45,000 GBP
Finance Licensing Manager Accounting and Finance 121,800 GBP
Finance Licensing Specialist Accounting and Finance 66,100 GBP
Finance Manager Accounting and Finance 166,600 GBP
Finance Officer Accounting and Finance 58,800 GBP
Finance President Accounting and Finance 185,900 GBP
Finance Relationship Manager Accounting and Finance 151,800 GBP
Finance Release Analyst Accounting and Finance 68,500 GBP
Finance Specialist Accounting and Finance 98,000 GBP
Finance Team Leader Accounting and Finance 142,300 GBP
Financial Accountant Accounting and Finance 60,000 GBP
Financial Actuary Accounting and Finance 96,600 GBP
Financial Administrator Accounting and Finance 107,700 GBP
Financial Advisor Accounting and Finance 115,600 GBP
Financial Analyst Accounting and Finance 114,900 GBP
Financial Applications Specialist Accounting and Finance 73,300 GBP
Financial Assistant Accounting and Finance 46,700 GBP
Financial Associate Accounting and Finance 49,300 GBP
Financial Associate Accounting and Finance 62,100 GBP
Financial Claims Analyst Accounting and Finance 81,900 GBP
Financial Claims Supervisor Accounting and Finance 100,700 GBP
Financial Clerk Accounting and Finance 45,900 GBP
Financial Commercial Analyst Accounting and Finance 86,100 GBP
Financial Compliance Analyst Accounting and Finance 95,000 GBP
Financial Consultant Accounting and Finance 83,300 GBP
Financial Controller Accounting and Finance 95,500 GBP
Financial Controller Accounting and Finance 102,700 GBP
Financial Coordinator Accounting and Finance 59,200 GBP
Financial Customer Service Manager Accounting and Finance 116,400 GBP
Financial Dealer and Broker Accounting and Finance 69,200 GBP
Financial Director Accounting and Finance 172,200 GBP
Financial Encoder Accounting and Finance 49,700 GBP
Financial Manager Accounting and Finance 165,900 GBP
Financial Manager Accounting and Finance 171,300 GBP
Financial Operations Manager Accounting and Finance 152,700 GBP
Financial Policy Analyst Accounting and Finance 91,600 GBP
Financial Project Manager Accounting and Finance 123,000 GBP
Financial Quantitative Analyst Accounting and Finance 105,200 GBP
Financial Reporting Consultant Accounting and Finance 86,100 GBP
Financial Reporting Manager Accounting and Finance 114,900 GBP
Financial Section Head Accounting and Finance 119,700 GBP
Financial Services Manager Accounting and Finance 152,700 GBP
Financial Services Sales Agent Accounting and Finance 67,000 GBP
Fixed Assets Administrator Accounting and Finance 63,900 GBP
Forensic Accountant Accounting and Finance 77,300 GBP
Fraud Detection Supervisor Accounting and Finance 75,900 GBP
Fraud Prevention Manager Accounting and Finance 123,800 GBP
Fund Accountant Accounting and Finance 59,000 GBP
Grants Coordinator Accounting and Finance 45,400 GBP
Group Financial Manager Accounting and Finance 183,900 GBP
Internal Auditor Accounting and Finance 83,300 GBP
Internal Control Adviser Accounting and Finance 99,100 GBP
Internal Control Officer Accounting and Finance 54,100 GBP
International Tax Director Accounting and Finance 142,300 GBP
Inventory Accountant Accounting and Finance 65,800 GBP
Investment Advisor Accounting and Finance 160,600 GBP
Investment Analyst Accounting and Finance 117,100 GBP
Investment Associate Accounting and Finance 105,800 GBP
Investment Broker Accounting and Finance 99,900 GBP
Investment Fund Manager Accounting and Finance 140,700 GBP
Investment Operations Manager Accounting and Finance 142,300 GBP
Investment Underwriter Accounting and Finance 51,500 GBP
Investor Accounting and Finance 76,900 GBP
Investor Relations Manager Accounting and Finance 118,900 GBP
KYC Team Leader Accounting and Finance 116,400 GBP
Loan Processor Accounting and Finance 48,500 GBP
Management Accountant Accounting and Finance 67,900 GBP
Management Economist Accounting and Finance 139,100 GBP
Paymaster Accounting and Finance 46,900 GBP
Payroll Administrator Accounting and Finance 80,500 GBP
Payroll Benefits Coordinator Accounting and Finance 70,700 GBP
Payroll Billing Manager Accounting and Finance 115,600 GBP
Payroll Clerk Accounting and Finance 54,100 GBP
Payroll Manager Accounting and Finance 111,700 GBP
Payroll Officer Accounting and Finance 56,100 GBP
Payroll Specialist Accounting and Finance 64,800 GBP
Payroll Supervisor Accounting and Finance 75,100 GBP
Pensions Administrator Accounting and Finance 63,900 GBP
Personal Financial Advisor Accounting and Finance 95,100 GBP
Pricing Analyst Accounting and Finance 100,700 GBP
Private Equity Analyst Accounting and Finance 112,700 GBP
Project Accountant Accounting and Finance 63,900 GBP
Proposal Development Coordinator Accounting and Finance 51,300 GBP
Receivables Accountant Accounting and Finance 59,500 GBP
Regulatory Accountant Accounting and Finance 69,200 GBP
Retirement Plan Analyst Accounting and Finance 97,300 GBP
Revenue Management Specialist Accounting and Finance 103,600 GBP
Revenue Recognition Analyst Accounting and Finance 115,600 GBP
Risk Management Director Accounting and Finance 152,700 GBP
Risk Management Supervisor Accounting and Finance 123,800 GBP
Staff Accountant Accounting and Finance 61,400 GBP
Tax Accountant Accounting and Finance 57,800 GBP
Tax Administrator Accounting and Finance 69,100 GBP
Tax Advisor Accounting and Finance 96,600 GBP
Tax Analyst Accounting and Finance 95,500 GBP
Tax Associate Accounting and Finance 49,700 GBP
Tax Consultant Accounting and Finance 99,100 GBP
Tax Director Accounting and Finance 142,100 GBP
Tax Examiner Accounting and Finance 64,800 GBP
Tax Manager Accounting and Finance 127,600 GBP
Tax Research Manager Accounting and Finance 128,200 GBP
Teller Accounting and Finance 36,800 GBP
Treasury Accountant Accounting and Finance 63,500 GBP
Treasury Analyst Accounting and Finance 102,700 GBP
Underwriter Accounting and Finance 42,400 GBP
Underwriting Assistant Accounting and Finance 44,300 GBP
Vice President of Finance Accounting and Finance 169,700 GBP

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