Average Mortgage Processor Salary in Cook Islands for 2024

In this article, we will look at the average Mortgage Processor salary for 2024 in Cook Islands 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 New Zealand dollar. To keep things simple, we are using the NZD currency code instead of the currency symbol $.

How Much Does a Mortgage Processor Make in Cook Islands?

A Mortgage Processor working in Cook Islands will typically earn around 29,040 NZD per year, and this can range from the lowest average salary of about 14,620 NZD to the highest average salary of 44,180 NZD.

Average Annual Salary
29,040 NZD
Average Monthly Salary
2,420 NZD

Lowest Annual Salary
14,620 NZD
Lowest Monthly Salary
1,218 NZD

Highest Annual Salary
44,180 NZD
Highest Monthly Salary
3,681 NZD

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

Mortgage Processor 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 Processor Salaries in Cook Islands

So we've looked at the average salaries a Mortgage Processor will earn in Cook Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Mortgage Processor can earn between 14,620 NZD and 44,180 NZD on average in Cook Islands. 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 Processor in Cook Islands is 27,620 NZD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 27,620 NZD, and 50% of the population earn more than 27,620 NZD.

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 Processor salary in Cook Islands, 25% of the population are earning less than 16,980 NZD while 75% of the population earn more than 16,980 NZD.

75% of the population earn less than 36,160 NZD, and 25% of the population earn more than 36,160 NZD.

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 Processor Salary by Experience Level in Cook Islands

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 processor 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 Processor in Cook Islands that has less than two years of experience can expect to earn somewhere in the region of 14,140 NZD.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Processor salary would increase to 19,380 NZD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Processor, the average salary would be 26,280 NZD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 33,980 NZD.
  • 15 - 20 Years Experience. A Mortgage Processor with 15 to 20 years of experience can earn an average of 36,700 NZD.
  • 20+ Years Experience. For a Mortgage Processor with more than 20 years, the expected average salary increases to 38,620 NZD.

Average Salary by Experience Chart

0-2 Years
14,140 NZD
2-5 Years +29%
19,380 NZD
5-10 Years +38%
26,280 NZD
10-15 Years +24%
33,980 NZD
15-20 Years +7%
36,700 NZD
20+ Years +7%
38,620 NZD

Mortgage Processor Salary by Education Level in Cook Islands

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 Processor in Cook Islands based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. A Mortgage Processor in Cook Islands with a certificate or diploma education can earn an average salary of 19,380 NZD.

  • Bachelor's Degree. A Mortgage Processor in Cook Islands with a bachelor's degree education can earn an average salary of 29,040 NZD.

  • Master's Degree. A Mortgage Processor in Cook Islands with a master's degree education can earn an average salary of 43,480 NZD.

Average Salary by Education Chart

Certificate or Diploma
19,380 NZD
Bachelor's Degree +34%
29,040 NZD
Master's Degree +53%
43,480 NZD

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 Cook Islands is around 23,500 to 70,600 NZD 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 Processor 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 Cook Islands, a male mortgage processor will earn an average of 28,720 NZD, while a female mortgage processor will earn around 25,940 NZD.

This means that a male mortgage processor earns approximately 11% more than a female mortgage processor for performing the same job.

Average Salary by Gender Chart in Cook Islands

Male
28,720 NZD
Female -11%
25,940 NZD

Mortgage Processor Average Pay Raise in Cook Islands

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 Processor in Cook Islands is around 7% every 27 months.

The national average pay raise across all professions and industries in Cook Islands 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 = ( 7 ÷ 27 ) × 12  = 3%

What this means is that a Mortgage Processor in Cook Islands can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Cook Islands for 2024

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

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

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

Mortgage Processor Bonus and Incentive Rates in Cook Islands

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

88% 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 0% to 4%.

Received Bonus
12%
No Bonus
88%

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 Cook Islands earn approximately 15% more than private sector employees in the same role.

Public Sector
58,000 NZD
Private Sector -15%
50,560 NZD

Salaries for Jobs Similar to a Mortgage Processor

In the table below, we have salary information for jobs that are similar to a Mortgage Processor in Cook Islands.

Job Title Category Salary
AML Analyst Banking 83,900 NZD
Assistant Bank Branch Manager Banking 79,120 NZD
Assistant Bank Manager Banking 102,020 NZD
ATM Manager Banking 80,520 NZD
ATM Service Technician Banking 22,340 NZD
Bank Accounts Analyst Banking 33,440 NZD
Bank Accounts Collector Banking 20,940 NZD
Bank Accounts Controller Banking 42,320 NZD
Bank Accounts Executive Banking 63,400 NZD
Bank Accounts Manager Banking 73,040 NZD
Bank Auditing Manager Banking 73,820 NZD
Bank Branch Manager Banking 101,840 NZD
Bank Branch Operations Coordinator Banking 47,120 NZD
Bank Clerk Banking 16,980 NZD
Bank Client Service Associate Banking 25,660 NZD
Bank Collector Banking 21,540 NZD
Bank Compliance Specialist Banking 53,660 NZD
Bank Manager Banking 114,900 NZD
Bank Operational Risk Manager Banking 111,000 NZD
Bank Operations Head Banking 115,260 NZD
Bank Operations Officer Banking 49,360 NZD
Bank Operations Specialist Banking 75,500 NZD
Bank Process Manager Banking 61,760 NZD
Bank Product Manager Banking 79,360 NZD
Bank Programme Manager Banking 85,880 NZD
Bank Project Manager Banking 96,520 NZD
Bank Propositions Manager Banking 85,080 NZD
Bank Quantitative Analyst Banking 59,000 NZD
Bank Regional Manager Banking 117,600 NZD
Bank Regional Risk Officer Banking 58,000 NZD
Bank Relationship Manager Banking 93,660 NZD
Bank Relationship Officer Banking 40,040 NZD
Bank Teller Banking 21,540 NZD
Banker Banking 41,660 NZD
Banking Business Analyst Banking 61,620 NZD
Banking Business Development Officer Banking 40,140 NZD
Banking Business Planning Executive Banking 85,020 NZD
Banking Product Manager Banking 75,040 NZD
Banking Reference Data Manager Banking 67,020 NZD
Banking Risk Analyst Banking 57,620 NZD
Banking Technical Analyst Banking 31,520 NZD
Bankruptcy Coordinator Banking 43,360 NZD
Bill and Account Collector Banking 21,560 NZD
Budget Analyst Banking 60,340 NZD
Capital Risk Manager Banking 120,040 NZD
Cards Marketing Manager Banking 77,400 NZD
Cash Management Manager Banking 101,120 NZD
Check Processing Manager Banking 80,340 NZD
Commercial Vault Associate Banking 60,840 NZD
Corporate Banker Banking 43,360 NZD
Corporate Dealer Banking 64,180 NZD
Credit Analyst Banking 45,620 NZD
Credit and Collections Manager Banking 85,460 NZD
Credit Card Fraud Investigator Banking 60,880 NZD
Credit Portfolio Manager Banking 115,740 NZD
Credit Risk Analyst Banking 66,960 NZD
Credit Risk Associate Banking 66,440 NZD
Direct Bank Sales Representative Banking 43,340 NZD
Exchange Control Consultant Banking 64,040 NZD
Executive Account Analyst Banking 61,620 NZD
Financial Bank Planning Consultant Banking 74,380 NZD
Financial Banking Analysis Manager Banking 89,980 NZD
Financial Banking Assistant Banking 28,720 NZD
Financial Banking Systems Manager Banking 84,180 NZD
Foreign Exchange Manager Banking 86,740 NZD
Fraud Analyst Banking 64,040 NZD
Fraud Detection Associate Banking 46,840 NZD
Fraud Detection Manager Banking 98,820 NZD
Fraud Detection Supervisor Banking 50,560 NZD
Internal Bank Audit Manager Banking 108,800 NZD
Internal Bank Auditor Banking 60,020 NZD
Internal Private Banker Banking 45,000 NZD
International Banking Manager Banking 123,400 NZD
Investment Banking Analyst Banking 90,980 NZD
Loan Analyst Banking 60,840 NZD
Loan Area Manager Banking 72,120 NZD
Loan Audit Team Leader Banking 66,260 NZD
Loan Branch Manager Banking 69,540 NZD
Loan Business Development Officer Banking 34,380 NZD
Loan Clerk Banking 23,380 NZD
Loan Collection and Recovery Manager Banking 75,260 NZD
Loan Collection Manager Banking 69,240 NZD
Loan Collector Banking 18,940 NZD
Loan Examiner Banking 29,040 NZD
Loan Officer Banking 22,420 NZD
Loan Processing Manager Banking 63,480 NZD
Loan Processor Banking 26,400 NZD
Loan Quality Assurance Auditor Banking 58,440 NZD
Loan Quality Assurance Manager Banking 69,260 NZD
Loan Quality Assurance Representative Banking 42,960 NZD
Loan Review Manager Banking 72,360 NZD
Loan Team Leader Banking 60,180 NZD
Loans Manager Banking 80,020 NZD
Mortgage Advisor Banking 45,200 NZD
Mortgage Collection Manager Banking 71,020 NZD
Mortgage Collector Banking 20,940 NZD
Mortgage Credit Analyst Banking 33,120 NZD
Mortgage Credit Manager Banking 72,180 NZD
Mortgage Development Manager Banking 78,960 NZD
Mortgage Document Reviewer Banking 26,100 NZD
Mortgage Funding Manager Banking 77,120 NZD
Mortgage Operations Manager Banking 110,380 NZD
Mortgage Payment Processing Clerk Banking 22,660 NZD
Mortgage Processing Manager Banking 73,820 NZD
Mortgage Quality Assurance Auditor Banking 63,320 NZD
Mortgage Quality Assurance Manager Banking 66,960 NZD
Mortgage Servicing Clerk Banking 23,380 NZD
Mortgage Servicing Manager Banking 66,140 NZD
Mortgage Underwriter Banking 26,500 NZD
Online Banking Manager Banking 110,120 NZD
Payment Processing Clerk Banking 21,640 NZD
Personal Banker Banking 43,080 NZD
Personal Banking Advisor Banking 45,620 NZD
Phone Banker Banking 27,480 NZD
Private Banker Banking 43,800 NZD
Reconciliation and Investigation Specialist Banking 50,620 NZD
Tax Officer Banking 37,620 NZD
Teller Banking 21,020 NZD
Trade Officer Banking 25,940 NZD
Trade Product Manager Banking 73,980 NZD
Trader Banking 28,680 NZD
Treasury Operations Officer Banking 54,700 NZD

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 Processor Salary in Cook Islands for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-mortgage-processor-salary-in-cook-islands/.

  • "Average Mortgage Processor Salary in Cook Islands for 2024". World Salaries, https://worldsalaries.com/average-mortgage-processor-salary-in-cook-islands/. Accessed 28 March, 2024

  • Average Mortgage Processor Salary in Cook Islands for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-mortgage-processor-salary-in-cook-islands/.