Average Mortgage Development Manager Salary in Belize for 2024

In this article, we will look at the average Mortgage Development Manager salary for 2024 in Belize 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 Belize dollar. To keep things simple, we are using the BZD currency code instead of the currency symbol $.

How Much Does a Mortgage Development Manager Make in Belize?

A Mortgage Development Manager working in Belize will typically earn around 72,180 BZD per year, and this can range from the lowest average salary of about 33,980 BZD to the highest average salary of 110,380 BZD.

Average Annual Salary
72,180 BZD
Average Monthly Salary
6,015 BZD

Lowest Annual Salary
33,980 BZD
Lowest Monthly Salary
2,831 BZD

Highest Annual Salary
110,380 BZD
Highest Monthly Salary
9,198 BZD

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

Mortgage Development 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 Mortgage Development Manager Salaries in Belize

So we've looked at the average salaries a Mortgage Development Manager will earn in Belize. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Mortgage Development Manager can earn between 33,980 BZD and 110,380 BZD on average in Belize. 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 Mortgage Development Manager in Belize is 72,420 BZD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 72,420 BZD, and 50% of the population earn more than 72,420 BZD.

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 Mortgage Development Manager salary in Belize, 25% of the population are earning less than 47,400 BZD while 75% of the population earn more than 47,400 BZD.

75% of the population earn less than 92,500 BZD, and 25% of the population earn more than 92,500 BZD.

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.

Mortgage Development Manager Salary by Experience Level in Belize

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 mortgage development 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 Mortgage Development Manager in Belize that has less than two years of experience can expect to earn somewhere in the region of 40,040 BZD.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Development Manager salary would increase to 51,800 BZD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Development Manager, the average salary would be 74,540 BZD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 90,540 BZD.
  • 15 - 20 Years Experience. A Mortgage Development Manager with 15 to 20 years of experience can earn an average of 96,500 BZD.
  • 20+ Years Experience. For a Mortgage Development Manager with more than 20 years, the expected average salary increases to 101,980 BZD.

Average Salary by Experience Chart

0-2 Years
40,040 BZD
2-5 Years +29%
51,800 BZD
5-10 Years +38%
74,540 BZD
10-15 Years +24%
90,540 BZD
15-20 Years +7%
96,500 BZD
20+ Years +7%
101,980 BZD

Mortgage Development Manager Salary by Education Level in Belize

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 Mortgage Development Manager in Belize 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 Mortgage Development Manager in Belize with a bachelor's degree education can earn an average salary of 52,540 BZD.

  • Master's Degree. A Mortgage Development Manager in Belize with a master's degree education can earn an average salary of 82,920 BZD.

Average Salary by Education Chart

Bachelor's Degree
52,540 BZD
Master's Degree +61%
82,920 BZD

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 Belize is around 19,600 to 58,800 BZD 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.

Mortgage Development 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 Belize, a male mortgage development manager will earn an average of 71,400 BZD, while a female mortgage development manager will earn around 66,680 BZD.

This means that a male mortgage development manager earns approximately 7% more than a female mortgage development manager for performing the same job.

Average Salary by Gender Chart in Belize

Male
71,400 BZD
Female -7%
66,680 BZD

Mortgage Development Manager Average Pay Raise in Belize

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 Mortgage Development Manager in Belize is around 9% every 28 months.

The national average pay raise across all professions and industries in Belize 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 ÷ 28 ) × 12  = 4%

What this means is that a Mortgage Development Manager in Belize can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Belize for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Mortgage Development Manager Bonus and Incentive Rates in Belize

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 Mortgage Development Manager is a moderate bonus based job, with 64% of employees reporting at least one bonus in the last 12 months.

36% 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
64%
No Bonus
36%

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 Belize earn approximately 23% more than private sector employees in the same role.

Public Sector
53,120 BZD
Private Sector -23%
43,340 BZD

Salaries for Jobs Similar to a Mortgage Development Manager

In the table below, we have salary information for jobs that are similar to a Mortgage Development Manager in Belize.

Job Title Category Salary
AML Analyst Banking 69,260 BZD
Assistant Bank Branch Manager Banking 64,720 BZD
Assistant Bank Manager Banking 80,760 BZD
ATM Manager Banking 71,020 BZD
ATM Service Technician Banking 20,500 BZD
Bank Accounts Analyst Banking 28,820 BZD
Bank Accounts Collector Banking 18,780 BZD
Bank Accounts Controller Banking 37,740 BZD
Bank Accounts Executive Banking 56,060 BZD
Bank Accounts Manager Banking 58,520 BZD
Bank Auditing Manager Banking 65,760 BZD
Bank Branch Manager Banking 86,460 BZD
Bank Branch Operations Coordinator Banking 40,560 BZD
Bank Clerk Banking 17,560 BZD
Bank Client Service Associate Banking 22,660 BZD
Bank Collector Banking 17,560 BZD
Bank Compliance Specialist Banking 45,060 BZD
Bank Manager Banking 96,560 BZD
Bank Operational Risk Manager Banking 98,540 BZD
Bank Operations Head Banking 103,580 BZD
Bank Operations Officer Banking 39,800 BZD
Bank Operations Specialist Banking 63,700 BZD
Bank Process Manager Banking 54,700 BZD
Bank Product Manager Banking 67,120 BZD
Bank Programme Manager Banking 69,780 BZD
Bank Project Manager Banking 80,760 BZD
Bank Propositions Manager Banking 71,660 BZD
Bank Quantitative Analyst Banking 49,200 BZD
Bank Regional Manager Banking 103,140 BZD
Bank Regional Risk Officer Banking 50,620 BZD
Bank Relationship Manager Banking 78,940 BZD
Bank Relationship Officer Banking 37,200 BZD
Bank Teller Banking 18,780 BZD
Banker Banking 34,280 BZD
Banking Business Analyst Banking 52,820 BZD
Banking Business Development Officer Banking 32,960 BZD
Banking Business Planning Executive Banking 74,620 BZD
Banking Product Manager Banking 65,940 BZD
Banking Reference Data Manager Banking 56,460 BZD
Banking Risk Analyst Banking 50,540 BZD
Banking Technical Analyst Banking 26,660 BZD
Bankruptcy Coordinator Banking 36,020 BZD
Bill and Account Collector Banking 19,360 BZD
Budget Analyst Banking 54,140 BZD
Capital Risk Manager Banking 100,580 BZD
Cards Marketing Manager Banking 64,560 BZD
Cash Management Manager Banking 90,620 BZD
Check Processing Manager Banking 69,780 BZD
Commercial Vault Associate Banking 53,600 BZD
Corporate Banker Banking 36,020 BZD
Corporate Dealer Banking 58,440 BZD
Credit Analyst Banking 39,420 BZD
Credit and Collections Manager Banking 72,120 BZD
Credit Card Fraud Investigator Banking 55,840 BZD
Credit Portfolio Manager Banking 96,340 BZD
Credit Risk Analyst Banking 58,000 BZD
Credit Risk Associate Banking 56,140 BZD
Direct Bank Sales Representative Banking 40,240 BZD
Exchange Control Consultant Banking 57,320 BZD
Executive Account Analyst Banking 50,340 BZD
Financial Bank Planning Consultant Banking 65,080 BZD
Financial Banking Analysis Manager Banking 78,960 BZD
Financial Banking Assistant Banking 24,860 BZD
Financial Banking Systems Manager Banking 72,740 BZD
Foreign Exchange Manager Banking 73,100 BZD
Fraud Analyst Banking 56,880 BZD
Fraud Detection Associate Banking 37,740 BZD
Fraud Detection Manager Banking 83,640 BZD
Fraud Detection Supervisor Banking 45,000 BZD
Internal Bank Audit Manager Banking 98,960 BZD
Internal Bank Auditor Banking 48,940 BZD
Internal Private Banker Banking 38,140 BZD
International Banking Manager Banking 107,820 BZD
Investment Banking Analyst Banking 80,340 BZD
Loan Analyst Banking 52,820 BZD
Loan Area Manager Banking 66,020 BZD
Loan Audit Team Leader Banking 58,440 BZD
Loan Branch Manager Banking 60,160 BZD
Loan Business Development Officer Banking 35,500 BZD
Loan Clerk Banking 19,220 BZD
Loan Collection and Recovery Manager Banking 66,000 BZD
Loan Collection Manager Banking 61,580 BZD
Loan Collector Banking 18,780 BZD
Loan Examiner Banking 23,380 BZD
Loan Officer Banking 21,380 BZD
Loan Processing Manager Banking 54,500 BZD
Loan Processor Banking 23,660 BZD
Loan Quality Assurance Auditor Banking 53,320 BZD
Loan Quality Assurance Manager Banking 60,460 BZD
Loan Quality Assurance Representative Banking 38,680 BZD
Loan Review Manager Banking 57,860 BZD
Loan Team Leader Banking 52,300 BZD
Loans Manager Banking 68,360 BZD
Mortgage Advisor Banking 36,020 BZD
Mortgage Collection Manager Banking 57,860 BZD
Mortgage Collector Banking 16,720 BZD
Mortgage Credit Analyst Banking 26,280 BZD
Mortgage Credit Manager Banking 59,660 BZD
Mortgage Document Reviewer Banking 23,400 BZD
Mortgage Funding Manager Banking 67,360 BZD
Mortgage Operations Manager Banking 92,400 BZD
Mortgage Payment Processing Clerk Banking 21,020 BZD
Mortgage Processing Manager Banking 60,880 BZD
Mortgage Processor Banking 23,080 BZD
Mortgage Quality Assurance Auditor Banking 53,160 BZD
Mortgage Quality Assurance Manager Banking 57,800 BZD
Mortgage Servicing Clerk Banking 15,920 BZD
Mortgage Servicing Manager Banking 57,080 BZD
Mortgage Underwriter Banking 20,460 BZD
Online Banking Manager Banking 93,280 BZD
Payment Processing Clerk Banking 19,020 BZD
Personal Banker Banking 35,260 BZD
Personal Banking Advisor Banking 41,900 BZD
Phone Banker Banking 25,720 BZD
Private Banker Banking 38,180 BZD
Reconciliation and Investigation Specialist Banking 44,300 BZD
Tax Officer Banking 31,400 BZD
Teller Banking 17,760 BZD
Trade Officer Banking 23,380 BZD
Trade Product Manager Banking 62,860 BZD
Trader Banking 23,360 BZD
Treasury Operations Officer Banking 44,780 BZD

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Mortgage Development Manager Salary in Belize for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-mortgage-development-manager-salary-in-belize/.

  • "Average Mortgage Development Manager Salary in Belize for 2024". World Salaries, https://worldsalaries.com/average-mortgage-development-manager-salary-in-belize/. Accessed 28 March, 2024

  • Average Mortgage Development Manager Salary in Belize for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-mortgage-development-manager-salary-in-belize/.