Average Mortgage Development Manager Salary in Cape Verde for 2024

In this article, we will look at the average Mortgage Development Manager salary for 2024 in Cape Verde 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 Cape Verdean escudo. To keep things simple, we are using the CVE currency code instead of the currency symbol Esc.

How Much Does a Mortgage Development Manager Make in Cape Verde?

A Mortgage Development Manager working in Cape Verde will typically earn around 3,299,800 CVE per year, and this can range from the lowest average salary of about 1,524,300 CVE to the highest average salary of 5,256,700 CVE.

Average Annual Salary
3,299,800 CVE
Average Monthly Salary
274,983 CVE

Lowest Annual Salary
1,524,300 CVE
Lowest Monthly Salary
127,025 CVE

Highest Annual Salary
5,256,700 CVE
Highest Monthly Salary
438,058 CVE

These are average salaries for a Mortgage Development Manager in Cape Verde 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 Cape Verde

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

Salary ranges

We already know that a Mortgage Development Manager can earn between 1,524,300 CVE and 5,256,700 CVE on average in Cape Verde. 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 Cape Verde is 3,564,300 CVE. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 3,564,300 CVE, and 50% of the population earn more than 3,564,300 CVE.

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 Cape Verde, 25% of the population are earning less than 2,290,300 CVE while 75% of the population earn more than 2,290,300 CVE.

75% of the population earn less than 4,762,300 CVE, and 25% of the population earn more than 4,762,300 CVE.

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 Cape Verde

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 Cape Verde that has less than two years of experience can expect to earn somewhere in the region of 1,728,900 CVE.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Development Manager salary would increase to 2,304,300 CVE.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Development Manager, the average salary would be 3,406,900 CVE.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 4,152,200 CVE.
  • 15 - 20 Years Experience. A Mortgage Development Manager with 15 to 20 years of experience can earn an average of 4,524,400 CVE.
  • 20+ Years Experience. For a Mortgage Development Manager with more than 20 years, the expected average salary increases to 4,895,800 CVE.

Average Salary by Experience Chart

0-2 Years
1,728,900 CVE
2-5 Years +34%
2,304,300 CVE
5-10 Years +48%
3,406,900 CVE
10-15 Years +22%
4,152,200 CVE
15-20 Years +9%
4,524,400 CVE
20+ Years +8%
4,895,800 CVE

Mortgage Development Manager Salary by Education Level in Cape Verde

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 Cape Verde 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 Cape Verde with a bachelor's degree education can earn an average salary of 2,003,200 CVE.

  • Master's Degree. A Mortgage Development Manager in Cape Verde with a master's degree education can earn an average salary of 3,875,100 CVE.

Average Salary by Education Chart

Bachelor's Degree
2,003,200 CVE
Master's Degree +93%
3,875,100 CVE

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 Cape Verde is around 1,020,000 to 3,060,000 CVE 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 Cape Verde, a male mortgage development manager will earn an average of 3,539,100 CVE, while a female mortgage development manager will earn around 3,061,300 CVE.

This means that a male mortgage development manager earns approximately 16% more than a female mortgage development manager for performing the same job.

Average Salary by Gender Chart in Cape Verde

Male
3,539,100 CVE
Female -16%
3,061,300 CVE

Mortgage Development Manager Average Pay Raise in Cape Verde

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 Cape Verde is around 8% every 29 months.

The national average pay raise across all professions and industries in Cape Verde is around 4% every 29 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 ÷ 29 ) × 12  = 3%

What this means is that a Mortgage Development Manager in Cape Verde can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Cape Verde for 2024

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

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

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Mortgage Development Manager Bonus and Incentive Rates in Cape Verde

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 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 Cape Verde earn approximately 14% more than private sector employees in the same role.

Public Sector
2,653,700 CVE
Private Sector -14%
2,327,100 CVE

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 Cape Verde.

Job Title Category Salary
AML Analyst Banking 3,792,300 CVE
Assistant Bank Branch Manager Banking 3,156,400 CVE
Assistant Bank Manager Banking 4,439,200 CVE
ATM Manager Banking 3,529,600 CVE
ATM Service Technician Banking 1,011,500 CVE
Bank Accounts Analyst Banking 1,500,800 CVE
Bank Accounts Collector Banking 906,000 CVE
Bank Accounts Controller Banking 1,882,700 CVE
Bank Accounts Executive Banking 2,629,100 CVE
Bank Accounts Manager Banking 3,168,300 CVE
Bank Auditing Manager Banking 3,061,300 CVE
Bank Branch Manager Banking 4,570,300 CVE
Bank Branch Operations Coordinator Banking 1,870,400 CVE
Bank Clerk Banking 852,600 CVE
Bank Client Service Associate Banking 1,235,600 CVE
Bank Collector Banking 862,400 CVE
Bank Compliance Specialist Banking 2,423,000 CVE
Bank Manager Banking 5,376,200 CVE
Bank Operational Risk Manager Banking 5,267,700 CVE
Bank Operations Head Banking 5,076,600 CVE
Bank Operations Officer Banking 2,052,200 CVE
Bank Operations Specialist Banking 3,156,400 CVE
Bank Process Manager Banking 2,902,500 CVE
Bank Product Manager Banking 3,359,900 CVE
Bank Programme Manager Banking 3,444,200 CVE
Bank Project Manager Banking 4,270,100 CVE
Bank Propositions Manager Banking 3,840,400 CVE
Bank Quantitative Analyst Banking 2,688,800 CVE
Bank Regional Manager Banking 5,305,100 CVE
Bank Regional Risk Officer Banking 2,688,800 CVE
Bank Relationship Manager Banking 4,043,600 CVE
Bank Relationship Officer Banking 1,788,300 CVE
Bank Teller Banking 948,900 CVE
Banker Banking 1,811,000 CVE
Banking Business Analyst Banking 2,748,900 CVE
Banking Business Development Officer Banking 1,678,300 CVE
Banking Business Planning Executive Banking 4,032,100 CVE
Banking Product Manager Banking 3,455,900 CVE
Banking Reference Data Manager Banking 2,878,300 CVE
Banking Risk Analyst Banking 2,605,500 CVE
Banking Technical Analyst Banking 1,417,600 CVE
Bankruptcy Coordinator Banking 1,955,300 CVE
Bill and Account Collector Banking 979,600 CVE
Budget Analyst Banking 2,698,900 CVE
Capital Risk Manager Banking 5,256,700 CVE
Cards Marketing Manager Banking 3,539,100 CVE
Cash Management Manager Banking 4,870,300 CVE
Check Processing Manager Banking 3,385,800 CVE
Commercial Vault Associate Banking 2,557,100 CVE
Corporate Banker Banking 2,003,200 CVE
Corporate Dealer Banking 2,676,200 CVE
Credit Analyst Banking 2,065,400 CVE
Credit and Collections Manager Banking 3,733,300 CVE
Credit Card Fraud Investigator Banking 2,688,800 CVE
Credit Portfolio Manager Banking 5,280,300 CVE
Credit Risk Analyst Banking 3,085,500 CVE
Credit Risk Associate Banking 2,987,000 CVE
Direct Bank Sales Representative Banking 1,921,500 CVE
Exchange Control Consultant Banking 2,878,300 CVE
Executive Account Analyst Banking 2,748,900 CVE
Financial Bank Planning Consultant Banking 3,406,900 CVE
Financial Banking Analysis Manager Banking 3,898,100 CVE
Financial Banking Assistant Banking 1,306,100 CVE
Financial Banking Systems Manager Banking 3,529,600 CVE
Foreign Exchange Manager Banking 3,925,200 CVE
Fraud Analyst Banking 2,831,100 CVE
Fraud Detection Associate Banking 2,026,800 CVE
Fraud Detection Manager Banking 4,032,100 CVE
Fraud Detection Supervisor Banking 2,304,300 CVE
Internal Bank Audit Manager Banking 4,681,400 CVE
Internal Bank Auditor Banking 2,593,900 CVE
Internal Private Banker Banking 1,942,700 CVE
International Banking Manager Banking 5,698,400 CVE
Investment Banking Analyst Banking 3,912,600 CVE
Loan Analyst Banking 2,698,900 CVE
Loan Area Manager Banking 3,192,300 CVE
Loan Audit Team Leader Banking 2,987,000 CVE
Loan Branch Manager Banking 3,085,500 CVE
Loan Business Development Officer Banking 1,560,800 CVE
Loan Clerk Banking 948,300 CVE
Loan Collection and Recovery Manager Banking 3,144,700 CVE
Loan Collection Manager Banking 3,335,900 CVE
Loan Collector Banking 890,100 CVE
Loan Examiner Banking 1,235,600 CVE
Loan Officer Banking 1,042,000 CVE
Loan Processing Manager Banking 2,868,600 CVE
Loan Processor Banking 1,249,900 CVE
Loan Quality Assurance Auditor Banking 2,629,100 CVE
Loan Quality Assurance Manager Banking 3,047,800 CVE
Loan Quality Assurance Representative Banking 2,110,600 CVE
Loan Review Manager Banking 2,998,500 CVE
Loan Team Leader Banking 2,782,600 CVE
Loans Manager Banking 3,769,500 CVE
Mortgage Advisor Banking 1,800,200 CVE
Mortgage Collection Manager Banking 3,156,400 CVE
Mortgage Collector Banking 917,700 CVE
Mortgage Credit Analyst Banking 1,405,700 CVE
Mortgage Credit Manager Banking 3,061,300 CVE
Mortgage Document Reviewer Banking 1,168,300 CVE
Mortgage Funding Manager Banking 3,610,800 CVE
Mortgage Operations Manager Banking 4,799,700 CVE
Mortgage Payment Processing Clerk Banking 995,200 CVE
Mortgage Processing Manager Banking 2,998,500 CVE
Mortgage Processor Banking 1,224,800 CVE
Mortgage Quality Assurance Auditor Banking 2,688,800 CVE
Mortgage Quality Assurance Manager Banking 3,192,300 CVE
Mortgage Servicing Clerk Banking 986,700 CVE
Mortgage Servicing Manager Banking 2,953,200 CVE
Mortgage Underwriter Banking 1,122,900 CVE
Online Banking Manager Banking 4,558,700 CVE
Payment Processing Clerk Banking 965,800 CVE
Personal Banker Banking 1,955,300 CVE
Personal Banking Advisor Banking 1,990,300 CVE
Phone Banker Banking 1,235,600 CVE
Private Banker Banking 2,038,500 CVE
Reconciliation and Investigation Specialist Banking 2,173,000 CVE
Tax Officer Banking 1,693,600 CVE
Teller Banking 888,400 CVE
Trade Officer Banking 1,065,800 CVE
Trade Product Manager Banking 3,178,700 CVE
Trader Banking 1,380,400 CVE
Treasury Operations Officer Banking 2,374,400 CVE

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