Average Loan Collection Manager Salary in Costa Rica for 2024

In this article, we will look at the average Loan Collection Manager salary for 2024 in Costa Rica 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 Costa Rican colón. To keep things simple, we are using the CRC currency code instead of the currency symbol ₡.

How Much Does a Loan Collection Manager Make in Costa Rica?

A Loan Collection Manager working in Costa Rica will typically earn around 37,800,500 CRC per year, and this can range from the lowest average salary of about 20,038,100 CRC to the highest average salary of 57,479,000 CRC.

Average Annual Salary
37,800,500 CRC
Average Monthly Salary
3,150,041 CRC

Lowest Annual Salary
20,038,100 CRC
Lowest Monthly Salary
1,669,841 CRC

Highest Annual Salary
57,479,000 CRC
Highest Monthly Salary
4,789,916 CRC

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

Loan Collection 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 Loan Collection Manager Salaries in Costa Rica

So we've looked at the average salaries a Loan Collection Manager will earn in Costa Rica. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Loan Collection Manager can earn between 20,038,100 CRC and 57,479,000 CRC on average in Costa Rica. 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 Loan Collection Manager in Costa Rica is 35,521,100 CRC. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 35,521,100 CRC, and 50% of the population earn more than 35,521,100 CRC.

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 Loan Collection Manager salary in Costa Rica, 25% of the population are earning less than 25,079,200 CRC while 75% of the population earn more than 25,079,200 CRC.

75% of the population earn less than 43,800,600 CRC, and 25% of the population earn more than 43,800,600 CRC.

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.

Loan Collection Manager Salary by Experience Level in Costa Rica

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 loan collection 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 Loan Collection Manager in Costa Rica that has less than two years of experience can expect to earn somewhere in the region of 23,040,200 CRC.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Collection Manager salary would increase to 28,318,900 CRC.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Collection Manager, the average salary would be 40,079,600 CRC.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 46,800,400 CRC.
  • 15 - 20 Years Experience. A Loan Collection Manager with 15 to 20 years of experience can earn an average of 51,479,800 CRC.
  • 20+ Years Experience. For a Loan Collection Manager with more than 20 years, the expected average salary increases to 54,479,300 CRC.

Average Salary by Experience Chart

0-2 Years
23,040,200 CRC
2-5 Years +23%
28,318,900 CRC
5-10 Years +42%
40,079,600 CRC
10-15 Years +17%
46,800,400 CRC
15-20 Years +10%
51,479,800 CRC
20+ Years +6%
54,479,300 CRC

Loan Collection Manager Salary by Education Level in Costa Rica

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 Loan Collection Manager in Costa Rica 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 Loan Collection Manager in Costa Rica with a bachelor's degree education can earn an average salary of 26,040,800 CRC.

  • Master's Degree. A Loan Collection Manager in Costa Rica with a master's degree education can earn an average salary of 50,398,300 CRC.

Average Salary by Education Chart

Bachelor's Degree
26,040,800 CRC
Master's Degree +93%
50,398,300 CRC

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 Costa Rica is around 11,800,000 to 35,400,000 CRC 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.

Loan Collection 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 Costa Rica, a male loan collection manager will earn an average of 39,001,000 CRC, while a female loan collection manager will earn around 36,240,700 CRC.

This means that a male loan collection manager earns approximately 8% more than a female loan collection manager for performing the same job.

Average Salary by Gender Chart in Costa Rica

Male
39,001,000 CRC
Female -8%
36,240,700 CRC

Loan Collection Manager Average Pay Raise in Costa Rica

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 Loan Collection Manager in Costa Rica is around 13% every 16 months.

The national average pay raise across all professions and industries in Costa Rica is around 9% every 17 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 = ( 13 ÷ 16 ) × 12  = 10%

What this means is that a Loan Collection Manager in Costa Rica can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Costa Rica for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Loan Collection Manager Bonus and Incentive Rates in Costa Rica

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 Loan Collection Manager is a high bonus based job, with 76% of employees reporting at least one bonus in the last 12 months.

24% 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 6% to 8%.

Received Bonus
76%
No Bonus
24%

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 Costa Rica earn approximately 6% more than private sector employees in the same role.

Public Sector
29,399,100 CRC
Private Sector -6%
27,721,300 CRC

Salaries for Jobs Similar to a Loan Collection Manager

In the table below, we have salary information for jobs that are similar to a Loan Collection Manager in Costa Rica.

Job Title Category Salary
AML Analyst Banking 42,601,100 CRC
Assistant Bank Branch Manager Banking 38,760,100 CRC
Assistant Bank Manager Banking 50,519,600 CRC
ATM Manager Banking 40,679,700 CRC
ATM Service Technician Banking 11,794,200 CRC
Bank Accounts Analyst Banking 16,561,800 CRC
Bank Accounts Collector Banking 9,586,500 CRC
Bank Accounts Controller Banking 20,518,900 CRC
Bank Accounts Executive Banking 32,161,000 CRC
Bank Accounts Manager Banking 35,521,100 CRC
Bank Auditing Manager Banking 36,240,700 CRC
Bank Branch Manager Banking 50,158,700 CRC
Bank Branch Operations Coordinator Banking 22,918,100 CRC
Bank Clerk Banking 9,276,800 CRC
Bank Client Service Associate Banking 13,079,500 CRC
Bank Collector Banking 9,961,400 CRC
Bank Compliance Specialist Banking 26,759,500 CRC
Bank Manager Banking 61,199,900 CRC
Bank Operational Risk Manager Banking 59,758,700 CRC
Bank Operations Head Banking 62,159,000 CRC
Bank Operations Officer Banking 23,759,100 CRC
Bank Operations Specialist Banking 36,480,500 CRC
Bank Process Manager Banking 33,599,200 CRC
Bank Product Manager Banking 37,800,500 CRC
Bank Programme Manager Banking 42,239,100 CRC
Bank Project Manager Banking 45,119,800 CRC
Bank Propositions Manager Banking 43,559,400 CRC
Bank Quantitative Analyst Banking 28,560,900 CRC
Bank Regional Manager Banking 61,321,600 CRC
Bank Regional Risk Officer Banking 30,001,600 CRC
Bank Relationship Manager Banking 42,719,800 CRC
Bank Relationship Officer Banking 20,878,800 CRC
Bank Teller Banking 10,032,600 CRC
Banker Banking 21,719,900 CRC
Banking Business Analyst Banking 31,320,700 CRC
Banking Business Development Officer Banking 19,439,300 CRC
Banking Business Planning Executive Banking 42,839,200 CRC
Banking Product Manager Banking 39,119,300 CRC
Banking Reference Data Manager Banking 33,240,500 CRC
Banking Risk Analyst Banking 30,961,800 CRC
Banking Technical Analyst Banking 16,918,700 CRC
Bankruptcy Coordinator Banking 22,799,000 CRC
Bill and Account Collector Banking 11,050,300 CRC
Budget Analyst Banking 30,479,000 CRC
Capital Risk Manager Banking 55,560,400 CRC
Cards Marketing Manager Banking 39,001,000 CRC
Cash Management Manager Banking 51,598,300 CRC
Check Processing Manager Banking 40,199,100 CRC
Commercial Vault Associate Banking 31,440,200 CRC
Corporate Banker Banking 21,241,100 CRC
Corporate Dealer Banking 32,758,100 CRC
Credit Analyst Banking 23,040,200 CRC
Credit and Collections Manager Banking 42,239,100 CRC
Credit Card Fraud Investigator Banking 30,841,400 CRC
Credit Portfolio Manager Banking 56,401,100 CRC
Credit Risk Analyst Banking 36,121,000 CRC
Credit Risk Associate Banking 31,678,800 CRC
Direct Bank Sales Representative Banking 22,321,900 CRC
Exchange Control Consultant Banking 32,398,700 CRC
Executive Account Analyst Banking 29,278,200 CRC
Financial Bank Planning Consultant Banking 38,039,000 CRC
Financial Banking Analysis Manager Banking 46,438,700 CRC
Financial Banking Assistant Banking 14,400,800 CRC
Financial Banking Systems Manager Banking 43,198,900 CRC
Foreign Exchange Manager Banking 44,040,700 CRC
Fraud Analyst Banking 33,841,700 CRC
Fraud Detection Associate Banking 22,918,100 CRC
Fraud Detection Manager Banking 47,640,400 CRC
Fraud Detection Supervisor Banking 26,399,200 CRC
Internal Bank Audit Manager Banking 55,440,900 CRC
Internal Bank Auditor Banking 30,961,800 CRC
Internal Private Banker Banking 21,719,900 CRC
International Banking Manager Banking 62,519,300 CRC
Investment Banking Analyst Banking 45,361,500 CRC
Loan Analyst Banking 29,519,900 CRC
Loan Area Manager Banking 37,919,200 CRC
Loan Audit Team Leader Banking 35,521,100 CRC
Loan Branch Manager Banking 33,481,400 CRC
Loan Business Development Officer Banking 19,078,500 CRC
Loan Clerk Banking 10,608,800 CRC
Loan Collection and Recovery Manager Banking 36,121,000 CRC
Loan Collector Banking 10,357,200 CRC
Loan Examiner Banking 13,199,100 CRC
Loan Officer Banking 11,712,900 CRC
Loan Processing Manager Banking 34,198,600 CRC
Loan Processor Banking 13,679,300 CRC
Loan Quality Assurance Auditor Banking 32,280,500 CRC
Loan Quality Assurance Manager Banking 34,198,600 CRC
Loan Quality Assurance Representative Banking 24,000,900 CRC
Loan Review Manager Banking 34,561,900 CRC
Loan Team Leader Banking 32,519,500 CRC
Loans Manager Banking 41,520,800 CRC
Mortgage Advisor Banking 21,361,700 CRC
Mortgage Collection Manager Banking 37,800,500 CRC
Mortgage Collector Banking 10,080,900 CRC
Mortgage Credit Analyst Banking 15,599,800 CRC
Mortgage Credit Manager Banking 34,561,900 CRC
Mortgage Development Manager Banking 37,681,400 CRC
Mortgage Document Reviewer Banking 13,561,900 CRC
Mortgage Funding Manager Banking 38,281,500 CRC
Mortgage Operations Manager Banking 54,358,300 CRC
Mortgage Payment Processing Clerk Banking 11,425,300 CRC
Mortgage Processing Manager Banking 35,640,500 CRC
Mortgage Processor Banking 13,319,300 CRC
Mortgage Quality Assurance Auditor Banking 31,201,500 CRC
Mortgage Quality Assurance Manager Banking 33,961,700 CRC
Mortgage Servicing Clerk Banking 10,882,800 CRC
Mortgage Servicing Manager Banking 32,879,500 CRC
Mortgage Underwriter Banking 13,441,600 CRC
Online Banking Manager Banking 55,921,200 CRC
Payment Processing Clerk Banking 10,870,100 CRC
Personal Banker Banking 22,558,900 CRC
Personal Banking Advisor Banking 23,159,200 CRC
Phone Banker Banking 14,639,900 CRC
Private Banker Banking 23,280,700 CRC
Reconciliation and Investigation Specialist Banking 25,919,400 CRC
Tax Officer Banking 18,598,500 CRC
Teller Banking 10,537,900 CRC
Trade Officer Banking 12,239,700 CRC
Trade Product Manager Banking 36,960,300 CRC
Trader Banking 14,760,200 CRC
Treasury Operations Officer Banking 27,361,200 CRC

Salary Comparison by City

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

City Average Salary
San Jose 41,040,700 CRC

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