Average Fraud Detection Associate Salary in Libya for 2024

In this article, we will look at the average Fraud Detection Associate salary for 2024 in Libya 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 Libyan dinar. To keep things simple, we are using the LYD currency code instead of the currency symbol ู„.ุฏ.

How Much Does a Fraud Detection Associate Make in Libya?

A Fraud Detection Associate working in Libya will typically earn around 19,940 LYD per year, and this can range from the lowest average salary of about 12,760 LYD to the highest average salary of 35,500 LYD.

Average Annual Salary
19,940 LYD
Average Monthly Salary
1,661 LYD

Lowest Annual Salary
12,760 LYD
Lowest Monthly Salary
1,063 LYD

Highest Annual Salary
35,500 LYD
Highest Monthly Salary
2,958 LYD

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

Fraud Detection Associate 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 Fraud Detection Associate Salaries in Libya

So we've looked at the average salaries a Fraud Detection Associate will earn in Libya. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Fraud Detection Associate can earn between 12,760 LYD and 35,500 LYD on average in Libya. 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 Fraud Detection Associate in Libya is 21,560 LYD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 21,560 LYD, and 50% of the population earn more than 21,560 LYD.

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 Fraud Detection Associate salary in Libya, 25% of the population are earning less than 14,840 LYD while 75% of the population earn more than 14,840 LYD.

75% of the population earn less than 26,500 LYD, and 25% of the population earn more than 26,500 LYD.

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.

Fraud Detection Associate Salary by Experience Level in Libya

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 fraud detection associate 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 Fraud Detection Associate in Libya that has less than two years of experience can expect to earn somewhere in the region of 10,980 LYD.
  • 2 - 5 Years Experience. With two to five years of experience the average Fraud Detection Associate salary would increase to 17,620 LYD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Fraud Detection Associate, the average salary would be 21,300 LYD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 28,180 LYD.
  • 15 - 20 Years Experience. A Fraud Detection Associate with 15 to 20 years of experience can earn an average of 28,860 LYD.
  • 20+ Years Experience. For a Fraud Detection Associate with more than 20 years, the expected average salary increases to 32,960 LYD.

Average Salary by Experience Chart

0-2 Years
10,980 LYD
2-5 Years +31%
17,620 LYD
5-10 Years +40%
21,300 LYD
10-15 Years +20%
28,180 LYD
15-20 Years +9%
28,860 LYD
20+ Years +8%
32,960 LYD

Fraud Detection Associate Salary by Education Level in Libya

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 Fraud Detection Associate in Libya 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 Fraud Detection Associate in Libya with a bachelor's degree education can earn an average salary of 17,260 LYD.

  • Master's Degree. A Fraud Detection Associate in Libya with a master's degree education can earn an average salary of 26,660 LYD.

Average Salary by Education Chart

Bachelor's Degree
17,260 LYD
Master's Degree +77%
26,660 LYD

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 Libya is around 11,400 to 34,300 LYD 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.

Fraud Detection Associate 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 Libya, a male fraud detection associate will earn an average of 23,480 LYD, while a female fraud detection associate will earn around 20,520 LYD.

This means that a male fraud detection associate earns approximately 14% more than a female fraud detection associate for performing the same job.

Average Salary by Gender Chart in Libya

Male
23,480 LYD
Female -14%
20,520 LYD

Fraud Detection Associate Average Pay Raise in Libya

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 Fraud Detection Associate in Libya is around 8% every 27 months.

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

What this means is that a Fraud Detection Associate in Libya can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Libya for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Fraud Detection Associate Bonus and Incentive Rates in Libya

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 Fraud Detection Associate is a low bonus based job, with 36% of employees reporting at least one bonus in the last 12 months.

64% 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
36%
No Bonus
64%

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 Libya earn approximately 5% more than private sector employees in the same role.

Public Sector
28,720 LYD
Private Sector -5%
27,300 LYD

Salaries for Jobs Similar to a Fraud Detection Associate

In the table below, we have salary information for jobs that are similar to a Fraud Detection Associate in Libya.

Job Title Category Salary
AML Analyst Banking 42,460 LYD
Assistant Bank Branch Manager Banking 36,700 LYD
Assistant Bank Manager Banking 45,600 LYD
ATM Manager Banking 40,040 LYD
ATM Service Technician Banking 12,520 LYD
Bank Accounts Analyst Banking 14,140 LYD
Bank Accounts Collector Banking 9,980 LYD
Bank Accounts Controller Banking 21,020 LYD
Bank Accounts Executive Banking 33,440 LYD
Bank Accounts Manager Banking 35,340 LYD
Bank Auditing Manager Banking 39,640 LYD
Bank Branch Manager Banking 48,760 LYD
Bank Branch Operations Coordinator Banking 22,420 LYD
Bank Clerk Banking 9,980 LYD
Bank Client Service Associate Banking 14,540 LYD
Bank Collector Banking 9,980 LYD
Bank Compliance Specialist Banking 25,940 LYD
Bank Manager Banking 57,080 LYD
Bank Operational Risk Manager Banking 57,360 LYD
Bank Operations Head Banking 62,060 LYD
Bank Operations Officer Banking 21,980 LYD
Bank Operations Specialist Banking 35,260 LYD
Bank Process Manager Banking 32,200 LYD
Bank Product Manager Banking 39,560 LYD
Bank Programme Manager Banking 41,660 LYD
Bank Project Manager Banking 45,720 LYD
Bank Propositions Manager Banking 43,480 LYD
Bank Quantitative Analyst Banking 30,800 LYD
Bank Regional Manager Banking 61,400 LYD
Bank Regional Risk Officer Banking 31,080 LYD
Bank Relationship Manager Banking 46,400 LYD
Bank Relationship Officer Banking 20,940 LYD
Bank Teller Banking 9,740 LYD
Banker Banking 20,940 LYD
Banking Business Analyst Banking 29,600 LYD
Banking Business Development Officer Banking 20,120 LYD
Banking Business Planning Executive Banking 43,220 LYD
Banking Product Manager Banking 36,020 LYD
Banking Reference Data Manager Banking 34,980 LYD
Banking Risk Analyst Banking 31,400 LYD
Banking Technical Analyst Banking 15,760 LYD
Bankruptcy Coordinator Banking 23,380 LYD
Bill and Account Collector Banking 12,840 LYD
Budget Analyst Banking 32,620 LYD
Capital Risk Manager Banking 58,240 LYD
Cards Marketing Manager Banking 35,420 LYD
Cash Management Manager Banking 54,140 LYD
Check Processing Manager Banking 41,660 LYD
Commercial Vault Associate Banking 31,080 LYD
Corporate Banker Banking 23,380 LYD
Corporate Dealer Banking 31,520 LYD
Credit Analyst Banking 24,820 LYD
Credit and Collections Manager Banking 41,560 LYD
Credit Card Fraud Investigator Banking 31,040 LYD
Credit Portfolio Manager Banking 56,880 LYD
Credit Risk Analyst Banking 33,980 LYD
Credit Risk Associate Banking 34,080 LYD
Direct Bank Sales Representative Banking 22,420 LYD
Exchange Control Consultant Banking 35,500 LYD
Executive Account Analyst Banking 29,320 LYD
Financial Bank Planning Consultant Banking 39,960 LYD
Financial Banking Analysis Manager Banking 46,400 LYD
Financial Banking Assistant Banking 15,880 LYD
Financial Banking Systems Manager Banking 45,060 LYD
Foreign Exchange Manager Banking 41,480 LYD
Fraud Analyst Banking 32,960 LYD
Fraud Detection Manager Banking 48,760 LYD
Fraud Detection Supervisor Banking 26,780 LYD
Internal Bank Audit Manager Banking 60,480 LYD
Internal Bank Auditor Banking 27,020 LYD
Internal Private Banker Banking 19,980 LYD
International Banking Manager Banking 63,700 LYD
Investment Banking Analyst Banking 46,980 LYD
Loan Analyst Banking 29,600 LYD
Loan Area Manager Banking 39,160 LYD
Loan Audit Team Leader Banking 34,360 LYD
Loan Branch Manager Banking 34,120 LYD
Loan Business Development Officer Banking 19,860 LYD
Loan Clerk Banking 9,960 LYD
Loan Collection and Recovery Manager Banking 37,740 LYD
Loan Collection Manager Banking 36,020 LYD
Loan Collector Banking 9,740 LYD
Loan Examiner Banking 13,540 LYD
Loan Officer Banking 12,620 LYD
Loan Processing Manager Banking 31,520 LYD
Loan Processor Banking 12,620 LYD
Loan Quality Assurance Auditor Banking 33,120 LYD
Loan Quality Assurance Manager Banking 37,740 LYD
Loan Quality Assurance Representative Banking 22,420 LYD
Loan Review Manager Banking 34,960 LYD
Loan Team Leader Banking 31,960 LYD
Loans Manager Banking 38,620 LYD
Mortgage Advisor Banking 23,400 LYD
Mortgage Collection Manager Banking 34,960 LYD
Mortgage Collector Banking 9,140 LYD
Mortgage Credit Analyst Banking 17,540 LYD
Mortgage Credit Manager Banking 34,360 LYD
Mortgage Development Manager Banking 42,460 LYD
Mortgage Document Reviewer Banking 11,360 LYD
Mortgage Funding Manager Banking 37,880 LYD
Mortgage Operations Manager Banking 53,380 LYD
Mortgage Payment Processing Clerk Banking 12,200 LYD
Mortgage Processing Manager Banking 35,340 LYD
Mortgage Processor Banking 12,580 LYD
Mortgage Quality Assurance Auditor Banking 31,180 LYD
Mortgage Quality Assurance Manager Banking 35,500 LYD
Mortgage Servicing Clerk Banking 11,300 LYD
Mortgage Servicing Manager Banking 34,240 LYD
Mortgage Underwriter Banking 13,540 LYD
Online Banking Manager Banking 55,140 LYD
Payment Processing Clerk Banking 10,080 LYD
Personal Banker Banking 21,640 LYD
Personal Banking Advisor Banking 23,660 LYD
Phone Banker Banking 15,580 LYD
Private Banker Banking 21,640 LYD
Reconciliation and Investigation Specialist Banking 25,940 LYD
Tax Officer Banking 18,780 LYD
Teller Banking 8,880 LYD
Trade Officer Banking 13,540 LYD
Trade Product Manager Banking 37,380 LYD
Trader Banking 14,920 LYD
Treasury Operations Officer Banking 25,720 LYD

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