Average Mortgage Servicing Clerk Salary in Dominica for 2024

In this article, we will look at the average Mortgage Servicing Clerk salary for 2024 in Dominica 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 Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does a Mortgage Servicing Clerk Make in Dominica?

A Mortgage Servicing Clerk working in Dominica will typically earn around 6,080 XCD per year, and this can range from the lowest average salary of about 1,460 XCD to the highest average salary of 9,460 XCD.

Average Annual Salary
6,080 XCD
Average Monthly Salary
506 XCD

Lowest Annual Salary
1,460 XCD
Lowest Monthly Salary
121 XCD

Highest Annual Salary
9,460 XCD
Highest Monthly Salary
788 XCD

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

Mortgage Servicing Clerk 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 Servicing Clerk Salaries in Dominica

So we've looked at the average salaries a Mortgage Servicing Clerk will earn in Dominica. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Mortgage Servicing Clerk can earn between 1,460 XCD and 9,460 XCD on average in Dominica. 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 Servicing Clerk in Dominica is 5,040 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 5,040 XCD, and 50% of the population earn more than 5,040 XCD.

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 Servicing Clerk salary in Dominica, 25% of the population are earning less than 2,420 XCD while 75% of the population earn more than 2,420 XCD.

75% of the population earn less than 7,300 XCD, and 25% of the population earn more than 7,300 XCD.

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 Servicing Clerk Salary by Experience Level in Dominica

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 servicing clerk 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 Servicing Clerk in Dominica that has less than two years of experience can expect to earn somewhere in the region of 4,440 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Servicing Clerk salary would increase to 6,760 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Servicing Clerk, the average salary would be 5,520 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 8,960 XCD.
  • 15 - 20 Years Experience. A Mortgage Servicing Clerk with 15 to 20 years of experience can earn an average of 7,080 XCD.
  • 20+ Years Experience. For a Mortgage Servicing Clerk with more than 20 years, the expected average salary increases to 8,560 XCD.

Average Salary by Experience Chart

0-2 Years
4,440 XCD
2-5 Years +34%
6,760 XCD
5-10 Years +30%
5,520 XCD
10-15 Years +21%
8,960 XCD
15-20 Years +9%
7,080 XCD
20+ Years +5%
8,560 XCD

Mortgage Servicing Clerk Salary by Education Level in Dominica

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 Servicing Clerk in Dominica 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 Servicing Clerk in Dominica with a certificate or diploma education can earn an average salary of 6,300 XCD.

  • Bachelor's Degree. A Mortgage Servicing Clerk in Dominica with a bachelor's degree education can earn an average salary of 9,360 XCD.

Average Salary by Education Chart

Certificate or Diploma
6,300 XCD
Bachelor's Degree +80%
9,360 XCD

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 Dominica is around 7,470 to 22,400 XCD 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 Servicing Clerk 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 Dominica, a male mortgage servicing clerk will earn an average of 6,760 XCD, while a female mortgage servicing clerk will earn around 5,040 XCD.

This means that a male mortgage servicing clerk earns approximately 34% more than a female mortgage servicing clerk for performing the same job.

Average Salary by Gender Chart in Dominica

Male
6,760 XCD
Female -34%
5,040 XCD

Mortgage Servicing Clerk Average Pay Raise in Dominica

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 Servicing Clerk in Dominica is around 8% every 26 months.

The national average pay raise across all professions and industries in Dominica 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 = ( 8 ÷ 26 ) × 12  = 4%

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

Annual Pay Raise by Industry in Dominica for 2024

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

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 Servicing Clerk Bonus and Incentive Rates in Dominica

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 Servicing Clerk is a low bonus based job, with 9% of employees reporting at least one bonus in the last 12 months.

91% 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 1% to 3%.

Received Bonus
9%
No Bonus
91%

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 Dominica earn approximately 1% more than private sector employees in the same role.

Public Sector
17,740 XCD
Private Sector -1%
17,540 XCD

Salaries for Jobs Similar to a Mortgage Servicing Clerk

In the table below, we have salary information for jobs that are similar to a Mortgage Servicing Clerk in Dominica.

Job Title Category Salary
AML Analyst Banking 28,180 XCD
Assistant Bank Branch Manager Banking 23,480 XCD
Assistant Bank Manager Banking 28,860 XCD
ATM Manager Banking 25,440 XCD
ATM Service Technician Banking 6,080 XCD
Bank Accounts Analyst Banking 9,960 XCD
Bank Accounts Collector Banking 5,400 XCD
Bank Accounts Controller Banking 13,780 XCD
Bank Accounts Executive Banking 20,300 XCD
Bank Accounts Manager Banking 22,420 XCD
Bank Auditing Manager Banking 19,940 XCD
Bank Branch Manager Banking 30,220 XCD
Bank Branch Operations Coordinator Banking 14,620 XCD
Bank Clerk Banking 5,400 XCD
Bank Client Service Associate Banking 9,020 XCD
Bank Collector Banking 6,080 XCD
Bank Compliance Specialist Banking 14,140 XCD
Bank Manager Banking 36,800 XCD
Bank Operational Risk Manager Banking 36,580 XCD
Bank Operations Head Banking 36,800 XCD
Bank Operations Officer Banking 14,540 XCD
Bank Operations Specialist Banking 20,460 XCD
Bank Process Manager Banking 20,500 XCD
Bank Product Manager Banking 26,020 XCD
Bank Programme Manager Banking 25,160 XCD
Bank Project Manager Banking 28,720 XCD
Bank Propositions Manager Banking 28,180 XCD
Bank Quantitative Analyst Banking 16,980 XCD
Bank Regional Manager Banking 38,060 XCD
Bank Regional Risk Officer Banking 19,480 XCD
Bank Relationship Manager Banking 26,780 XCD
Bank Relationship Officer Banking 11,040 XCD
Bank Teller Banking 6,960 XCD
Banker Banking 13,700 XCD
Banking Business Analyst Banking 19,480 XCD
Banking Business Development Officer Banking 11,040 XCD
Banking Business Planning Executive Banking 26,080 XCD
Banking Product Manager Banking 23,140 XCD
Banking Reference Data Manager Banking 23,520 XCD
Banking Risk Analyst Banking 20,300 XCD
Banking Technical Analyst Banking 9,460 XCD
Bankruptcy Coordinator Banking 12,620 XCD
Bill and Account Collector Banking 6,080 XCD
Budget Analyst Banking 19,360 XCD
Capital Risk Manager Banking 35,520 XCD
Cards Marketing Manager Banking 23,360 XCD
Cash Management Manager Banking 31,980 XCD
Check Processing Manager Banking 24,200 XCD
Commercial Vault Associate Banking 18,280 XCD
Corporate Banker Banking 13,960 XCD
Corporate Dealer Banking 20,940 XCD
Credit Analyst Banking 14,540 XCD
Credit and Collections Manager Banking 27,020 XCD
Credit Card Fraud Investigator Banking 20,940 XCD
Credit Portfolio Manager Banking 36,160 XCD
Credit Risk Analyst Banking 22,420 XCD
Credit Risk Associate Banking 21,380 XCD
Direct Bank Sales Representative Banking 13,960 XCD
Exchange Control Consultant Banking 20,500 XCD
Executive Account Analyst Banking 19,860 XCD
Financial Bank Planning Consultant Banking 25,680 XCD
Financial Banking Analysis Manager Banking 28,900 XCD
Financial Banking Assistant Banking 7,800 XCD
Financial Banking Systems Manager Banking 29,040 XCD
Foreign Exchange Manager Banking 28,660 XCD
Fraud Analyst Banking 19,860 XCD
Fraud Detection Associate Banking 14,620 XCD
Fraud Detection Manager Banking 27,560 XCD
Fraud Detection Supervisor Banking 16,340 XCD
Internal Bank Audit Manager Banking 35,260 XCD
Internal Bank Auditor Banking 20,300 XCD
Internal Private Banker Banking 13,960 XCD
International Banking Manager Banking 37,380 XCD
Investment Banking Analyst Banking 27,620 XCD
Loan Analyst Banking 19,480 XCD
Loan Area Manager Banking 21,300 XCD
Loan Audit Team Leader Banking 21,560 XCD
Loan Branch Manager Banking 22,540 XCD
Loan Business Development Officer Banking 9,940 XCD
Loan Clerk Banking 6,080 XCD
Loan Collection and Recovery Manager Banking 20,760 XCD
Loan Collection Manager Banking 24,820 XCD
Loan Collector Banking 6,080 XCD
Loan Examiner Banking 10,100 XCD
Loan Officer Banking 6,200 XCD
Loan Processing Manager Banking 20,500 XCD
Loan Processor Banking 9,360 XCD
Loan Quality Assurance Auditor Banking 19,360 XCD
Loan Quality Assurance Manager Banking 22,540 XCD
Loan Quality Assurance Representative Banking 14,200 XCD
Loan Review Manager Banking 19,060 XCD
Loan Team Leader Banking 20,500 XCD
Loans Manager Banking 25,440 XCD
Mortgage Advisor Banking 13,780 XCD
Mortgage Collection Manager Banking 23,500 XCD
Mortgage Collector Banking 5,040 XCD
Mortgage Credit Analyst Banking 9,140 XCD
Mortgage Credit Manager Banking 19,940 XCD
Mortgage Development Manager Banking 25,220 XCD
Mortgage Document Reviewer Banking 9,360 XCD
Mortgage Funding Manager Banking 25,940 XCD
Mortgage Operations Manager Banking 34,240 XCD
Mortgage Payment Processing Clerk Banking 6,080 XCD
Mortgage Processing Manager Banking 21,020 XCD
Mortgage Processor Banking 9,360 XCD
Mortgage Quality Assurance Auditor Banking 19,020 XCD
Mortgage Quality Assurance Manager Banking 21,640 XCD
Mortgage Servicing Manager Banking 23,380 XCD
Mortgage Underwriter Banking 10,100 XCD
Online Banking Manager Banking 35,560 XCD
Payment Processing Clerk Banking 5,200 XCD
Personal Banker Banking 13,960 XCD
Personal Banking Advisor Banking 13,560 XCD
Phone Banker Banking 8,100 XCD
Private Banker Banking 14,200 XCD
Reconciliation and Investigation Specialist Banking 17,620 XCD
Tax Officer Banking 12,200 XCD
Teller Banking 5,520 XCD
Trade Officer Banking 5,960 XCD
Trade Product Manager Banking 22,420 XCD
Trader Banking 9,440 XCD
Treasury Operations Officer Banking 18,780 XCD

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