Average Mortgage Development Manager Salary in Guernsey for 2024

In this article, we will look at the average Mortgage Development 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 Mortgage Development Manager Make in Guernsey?

A Mortgage Development Manager working in Guernsey will typically earn around 123,000 GBP per year, and this can range from the lowest average salary of about 54,200 GBP to the highest average salary of 191,100 GBP.

Average Annual Salary
123,000 GBP
Average Monthly Salary
10,250 GBP

Lowest Annual Salary
54,200 GBP
Lowest Monthly Salary
4,516 GBP

Highest Annual Salary
191,100 GBP
Highest Monthly Salary
15,925 GBP

These are average salaries for a Mortgage Development Manager in Guernsey 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 Guernsey

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

Salary ranges

We already know that a Mortgage Development Manager can earn between 54,200 GBP and 191,100 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 Mortgage Development Manager in Guernsey is 130,500 GBP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 130,500 GBP, and 50% of the population earn more than 130,500 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 Mortgage Development Manager salary in Guernsey, 25% of the population are earning less than 83,800 GBP while 75% of the population earn more than 83,800 GBP.

75% of the population earn less than 176,300 GBP, and 25% of the population earn more than 176,300 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.

Mortgage Development 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 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 Guernsey that has less than two years of experience can expect to earn somewhere in the region of 62,600 GBP.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Development Manager salary would increase to 86,400 GBP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Development Manager, the average salary would be 123,800 GBP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 152,900 GBP.
  • 15 - 20 Years Experience. A Mortgage Development Manager with 15 to 20 years of experience can earn an average of 166,600 GBP.
  • 20+ Years Experience. For a Mortgage Development Manager with more than 20 years, the expected average salary increases to 180,500 GBP.

Average Salary by Experience Chart

0-2 Years
62,600 GBP
2-5 Years +34%
86,400 GBP
5-10 Years +48%
123,800 GBP
10-15 Years +22%
152,900 GBP
15-20 Years +9%
166,600 GBP
20+ Years +8%
180,500 GBP

Mortgage Development 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 Mortgage Development 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.

  • Bachelor's Degree. A Mortgage Development Manager in Guernsey with a bachelor's degree education can earn an average salary of 73,100 GBP.

  • Master's Degree. A Mortgage Development Manager in Guernsey with a master's degree education can earn an average salary of 142,300 GBP.

Average Salary by Education Chart

Bachelor's Degree
73,100 GBP
Master's Degree +93%
142,300 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.

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 Guernsey, a male mortgage development manager will earn an average of 130,400 GBP, while a female mortgage development manager will earn around 111,700 GBP.

This means that a male mortgage development manager earns approximately 17% more than a female mortgage development manager for performing the same job.

Average Salary by Gender Chart in Guernsey

Male
130,400 GBP
Female -17%
111,700 GBP

Mortgage Development 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 Mortgage Development Manager in Guernsey is around 9% every 27 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 = ( 9 ÷ 27 ) × 12  = 4%

What this means is that a Mortgage Development Manager in Guernsey can expect to receive an average pay raise of around 4% 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%

Mortgage Development 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 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 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 Mortgage Development Manager

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

Job Title Category Salary
AML Analyst Banking 142,100 GBP
Assistant Bank Branch Manager Banking 114,600 GBP
Assistant Bank Manager Banking 158,900 GBP
ATM Manager Banking 130,400 GBP
ATM Service Technician Banking 35,000 GBP
Bank Accounts Analyst Banking 49,700 GBP
Bank Accounts Collector Banking 30,200 GBP
Bank Accounts Controller Banking 63,900 GBP
Bank Accounts Executive Banking 92,500 GBP
Bank Accounts Manager Banking 117,100 GBP
Bank Auditing Manager Banking 116,400 GBP
Bank Branch Manager Banking 153,700 GBP
Bank Branch Operations Coordinator Banking 67,400 GBP
Bank Clerk Banking 29,100 GBP
Bank Client Service Associate Banking 42,600 GBP
Bank Collector Banking 32,600 GBP
Bank Compliance Specialist Banking 83,300 GBP
Bank Manager Banking 175,100 GBP
Bank Operational Risk Manager Banking 190,400 GBP
Bank Operations Head Banking 184,700 GBP
Bank Operations Officer Banking 73,100 GBP
Bank Operations Specialist Banking 108,200 GBP
Bank Process Manager Banking 105,200 GBP
Bank Product Manager Banking 115,600 GBP
Bank Programme Manager Banking 124,500 GBP
Bank Project Manager Banking 150,100 GBP
Bank Propositions Manager Banking 130,500 GBP
Bank Quantitative Analyst Banking 89,200 GBP
Bank Regional Manager Banking 193,200 GBP
Bank Regional Risk Officer Banking 96,000 GBP
Bank Relationship Manager Banking 142,100 GBP
Bank Relationship Officer Banking 61,700 GBP
Bank Teller Banking 35,400 GBP
Banker Banking 65,800 GBP
Banking Business Analyst Banking 99,600 GBP
Banking Business Development Officer Banking 64,300 GBP
Banking Business Planning Executive Banking 130,400 GBP
Banking Product Manager Banking 123,800 GBP
Banking Reference Data Manager Banking 109,000 GBP
Banking Risk Analyst Banking 95,300 GBP
Banking Technical Analyst Banking 54,300 GBP
Bankruptcy Coordinator Banking 70,700 GBP
Bill and Account Collector Banking 32,900 GBP
Budget Analyst Banking 92,300 GBP
Capital Risk Manager Banking 184,700 GBP
Cards Marketing Manager Banking 117,100 GBP
Cash Management Manager Banking 176,300 GBP
Check Processing Manager Banking 127,600 GBP
Commercial Vault Associate Banking 97,300 GBP
Corporate Banker Banking 73,200 GBP
Corporate Dealer Banking 103,600 GBP
Credit Analyst Banking 74,100 GBP
Credit and Collections Manager Banking 127,600 GBP
Credit Card Fraud Investigator Banking 98,800 GBP
Credit Portfolio Manager Banking 184,700 GBP
Credit Risk Analyst Banking 105,800 GBP
Credit Risk Associate Banking 103,600 GBP
Direct Bank Sales Representative Banking 67,600 GBP
Exchange Control Consultant Banking 105,800 GBP
Executive Account Analyst Banking 96,400 GBP
Financial Bank Planning Consultant Banking 124,500 GBP
Financial Banking Analysis Manager Banking 146,900 GBP
Financial Banking Assistant Banking 49,000 GBP
Financial Banking Systems Manager Banking 134,700 GBP
Foreign Exchange Manager Banking 142,300 GBP
Fraud Analyst Banking 102,700 GBP
Fraud Detection Associate Banking 68,300 GBP
Fraud Detection Manager Banking 153,700 GBP
Fraud Detection Supervisor Banking 84,500 GBP
Internal Bank Audit Manager Banking 171,300 GBP
Internal Bank Auditor Banking 90,900 GBP
Internal Private Banker Banking 68,100 GBP
International Banking Manager Banking 189,800 GBP
Investment Banking Analyst Banking 134,100 GBP
Loan Analyst Banking 92,100 GBP
Loan Area Manager Banking 116,400 GBP
Loan Audit Team Leader Banking 109,000 GBP
Loan Branch Manager Banking 107,300 GBP
Loan Business Development Officer Banking 58,200 GBP
Loan Clerk Banking 32,900 GBP
Loan Collection and Recovery Manager Banking 119,700 GBP
Loan Collection Manager Banking 121,800 GBP
Loan Collector Banking 32,600 GBP
Loan Examiner Banking 41,500 GBP
Loan Officer Banking 39,400 GBP
Loan Processing Manager Banking 105,200 GBP
Loan Processor Banking 45,000 GBP
Loan Quality Assurance Auditor Banking 97,200 GBP
Loan Quality Assurance Manager Banking 107,300 GBP
Loan Quality Assurance Representative Banking 71,200 GBP
Loan Review Manager Banking 105,200 GBP
Loan Team Leader Banking 103,600 GBP
Loans Manager Banking 123,800 GBP
Mortgage Advisor Banking 69,200 GBP
Mortgage Collection Manager Banking 114,300 GBP
Mortgage Collector Banking 33,200 GBP
Mortgage Credit Analyst Banking 52,000 GBP
Mortgage Credit Manager Banking 107,700 GBP
Mortgage Document Reviewer Banking 39,800 GBP
Mortgage Funding Manager Banking 119,700 GBP
Mortgage Operations Manager Banking 168,700 GBP
Mortgage Payment Processing Clerk Banking 35,400 GBP
Mortgage Processing Manager Banking 105,800 GBP
Mortgage Processor Banking 46,300 GBP
Mortgage Quality Assurance Auditor Banking 94,500 GBP
Mortgage Quality Assurance Manager Banking 107,700 GBP
Mortgage Servicing Clerk Banking 33,000 GBP
Mortgage Servicing Manager Banking 109,700 GBP
Mortgage Underwriter Banking 40,300 GBP
Online Banking Manager Banking 176,300 GBP
Payment Processing Clerk Banking 34,300 GBP
Personal Banker Banking 73,200 GBP
Personal Banking Advisor Banking 68,900 GBP
Phone Banker Banking 46,200 GBP
Private Banker Banking 70,700 GBP
Reconciliation and Investigation Specialist Banking 75,100 GBP
Tax Officer Banking 57,800 GBP
Teller Banking 32,300 GBP
Trade Officer Banking 38,700 GBP
Trade Product Manager Banking 112,700 GBP
Trader Banking 45,900 GBP
Treasury Operations Officer Banking 90,000 GBP

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