Average Payment Processing Clerk Salary in Montserrat for 2024

In this article, we will look at the average Payment Processing Clerk salary for 2024 in Montserrat 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 Payment Processing Clerk Make in Montserrat?

A Payment Processing Clerk working in Montserrat will typically earn around 13,900 XCD per year, and this can range from the lowest average salary of about 6,080 XCD to the highest average salary of 21,020 XCD.

Average Annual Salary
13,900 XCD
Average Monthly Salary
1,158 XCD

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

Highest Annual Salary
21,020 XCD
Highest Monthly Salary
1,751 XCD

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

Payment Processing 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 Payment Processing Clerk Salaries in Montserrat

So we've looked at the average salaries a Payment Processing Clerk will earn in Montserrat. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Payment Processing Clerk can earn between 6,080 XCD and 21,020 XCD on average in Montserrat. 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 Payment Processing Clerk in Montserrat is 14,540 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 14,540 XCD, and 50% of the population earn more than 14,540 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 Payment Processing Clerk salary in Montserrat, 25% of the population are earning less than 7,800 XCD while 75% of the population earn more than 7,800 XCD.

75% of the population earn less than 15,700 XCD, and 25% of the population earn more than 15,700 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.

Payment Processing Clerk Salary by Experience Level in Montserrat

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 payment processing 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 Payment Processing Clerk in Montserrat that has less than two years of experience can expect to earn somewhere in the region of 6,280 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Payment Processing Clerk salary would increase to 9,140 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Payment Processing Clerk, the average salary would be 13,960 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 15,300 XCD.
  • 15 - 20 Years Experience. A Payment Processing Clerk with 15 to 20 years of experience can earn an average of 19,200 XCD.
  • 20+ Years Experience. For a Payment Processing Clerk with more than 20 years, the expected average salary increases to 18,900 XCD.

Average Salary by Experience Chart

0-2 Years
6,280 XCD
2-5 Years +29%
9,140 XCD
5-10 Years +38%
13,960 XCD
10-15 Years +24%
15,300 XCD
15-20 Years +7%
19,200 XCD
20+ Years +7%
18,900 XCD

Payment Processing Clerk Salary by Education Level in Montserrat

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 Payment Processing Clerk in Montserrat 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 Payment Processing Clerk in Montserrat with a certificate or diploma education can earn an average salary of 12,300 XCD.

  • Bachelor's Degree. A Payment Processing Clerk in Montserrat with a bachelor's degree education can earn an average salary of 18,260 XCD.

Average Salary by Education Chart

Certificate or Diploma
12,300 XCD
Bachelor's Degree +53%
18,260 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 Montserrat is around 13,600 to 40,700 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.

Payment Processing 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 Montserrat, a male payment processing clerk will earn an average of 12,000 XCD, while a female payment processing clerk will earn around 13,060 XCD.

This means that a male payment processing clerk earns approximately 8% less than a female payment processing clerk for performing the same job.

Average Salary by Gender Chart in Montserrat

Male
12,000 XCD
Female +8%
13,060 XCD

Payment Processing Clerk Average Pay Raise in Montserrat

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 Payment Processing Clerk in Montserrat is around 7% every 27 months.

The national average pay raise across all professions and industries in Montserrat 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 Payment Processing Clerk in Montserrat can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Montserrat for 2024

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

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

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Payment Processing Clerk Bonus and Incentive Rates in Montserrat

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 Payment Processing Clerk 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 Montserrat earn approximately 10% more than private sector employees in the same role.

Public Sector
34,540 XCD
Private Sector -10%
31,400 XCD

Salaries for Jobs Similar to a Payment Processing Clerk

In the table below, we have salary information for jobs that are similar to a Payment Processing Clerk in Montserrat.

Job Title Category Salary
AML Analyst Banking 50,540 XCD
Assistant Bank Branch Manager Banking 42,460 XCD
Assistant Bank Manager Banking 55,320 XCD
ATM Manager Banking 48,940 XCD
ATM Service Technician Banking 13,540 XCD
Bank Accounts Analyst Banking 18,900 XCD
Bank Accounts Collector Banking 10,000 XCD
Bank Accounts Controller Banking 24,280 XCD
Bank Accounts Executive Banking 37,620 XCD
Bank Accounts Manager Banking 45,200 XCD
Bank Auditing Manager Banking 44,140 XCD
Bank Branch Manager Banking 58,000 XCD
Bank Branch Operations Coordinator Banking 24,200 XCD
Bank Clerk Banking 12,520 XCD
Bank Client Service Associate Banking 15,760 XCD
Bank Collector Banking 12,620 XCD
Bank Compliance Specialist Banking 28,680 XCD
Bank Manager Banking 65,760 XCD
Bank Operational Risk Manager Banking 69,240 XCD
Bank Operations Head Banking 67,900 XCD
Bank Operations Officer Banking 25,160 XCD
Bank Operations Specialist Banking 44,300 XCD
Bank Process Manager Banking 37,880 XCD
Bank Product Manager Banking 42,960 XCD
Bank Programme Manager Banking 46,280 XCD
Bank Project Manager Banking 54,140 XCD
Bank Propositions Manager Banking 45,580 XCD
Bank Quantitative Analyst Banking 33,980 XCD
Bank Regional Manager Banking 74,620 XCD
Bank Regional Risk Officer Banking 36,020 XCD
Bank Relationship Manager Banking 50,980 XCD
Bank Relationship Officer Banking 23,660 XCD
Bank Teller Banking 12,120 XCD
Banker Banking 23,660 XCD
Banking Business Analyst Banking 37,740 XCD
Banking Business Development Officer Banking 22,420 XCD
Banking Business Planning Executive Banking 50,520 XCD
Banking Product Manager Banking 45,560 XCD
Banking Reference Data Manager Banking 39,420 XCD
Banking Risk Analyst Banking 34,380 XCD
Banking Technical Analyst Banking 20,500 XCD
Bankruptcy Coordinator Banking 25,720 XCD
Bill and Account Collector Banking 12,120 XCD
Budget Analyst Banking 34,120 XCD
Capital Risk Manager Banking 65,800 XCD
Cards Marketing Manager Banking 46,840 XCD
Cash Management Manager Banking 65,760 XCD
Check Processing Manager Banking 43,800 XCD
Commercial Vault Associate Banking 35,300 XCD
Corporate Banker Banking 26,780 XCD
Corporate Dealer Banking 38,680 XCD
Credit Analyst Banking 28,720 XCD
Credit and Collections Manager Banking 47,760 XCD
Credit Card Fraud Investigator Banking 35,420 XCD
Credit Portfolio Manager Banking 66,960 XCD
Credit Risk Analyst Banking 39,420 XCD
Credit Risk Associate Banking 36,580 XCD
Direct Bank Sales Representative Banking 23,140 XCD
Exchange Control Consultant Banking 40,240 XCD
Executive Account Analyst Banking 35,260 XCD
Financial Bank Planning Consultant Banking 46,980 XCD
Financial Banking Analysis Manager Banking 56,060 XCD
Financial Banking Assistant Banking 16,720 XCD
Financial Banking Systems Manager Banking 49,200 XCD
Foreign Exchange Manager Banking 50,520 XCD
Fraud Analyst Banking 36,580 XCD
Fraud Detection Associate Banking 25,720 XCD
Fraud Detection Manager Banking 56,060 XCD
Fraud Detection Supervisor Banking 29,640 XCD
Internal Bank Audit Manager Banking 63,700 XCD
Internal Bank Auditor Banking 35,300 XCD
Internal Private Banker Banking 25,160 XCD
International Banking Manager Banking 69,780 XCD
Investment Banking Analyst Banking 49,820 XCD
Loan Analyst Banking 35,560 XCD
Loan Area Manager Banking 43,340 XCD
Loan Audit Team Leader Banking 42,460 XCD
Loan Branch Manager Banking 40,140 XCD
Loan Business Development Officer Banking 19,940 XCD
Loan Clerk Banking 12,200 XCD
Loan Collection and Recovery Manager Banking 44,540 XCD
Loan Collection Manager Banking 43,220 XCD
Loan Collector Banking 12,520 XCD
Loan Examiner Banking 16,880 XCD
Loan Officer Banking 13,560 XCD
Loan Processing Manager Banking 39,160 XCD
Loan Processor Banking 17,540 XCD
Loan Quality Assurance Auditor Banking 35,520 XCD
Loan Quality Assurance Manager Banking 41,660 XCD
Loan Quality Assurance Representative Banking 24,860 XCD
Loan Review Manager Banking 42,040 XCD
Loan Team Leader Banking 36,700 XCD
Loans Manager Banking 48,740 XCD
Mortgage Advisor Banking 24,800 XCD
Mortgage Collection Manager Banking 41,820 XCD
Mortgage Collector Banking 12,520 XCD
Mortgage Credit Analyst Banking 18,940 XCD
Mortgage Credit Manager Banking 39,960 XCD
Mortgage Development Manager Banking 48,340 XCD
Mortgage Document Reviewer Banking 13,100 XCD
Mortgage Funding Manager Banking 47,760 XCD
Mortgage Operations Manager Banking 64,720 XCD
Mortgage Payment Processing Clerk Banking 14,620 XCD
Mortgage Processing Manager Banking 39,080 XCD
Mortgage Processor Banking 15,760 XCD
Mortgage Quality Assurance Auditor Banking 35,000 XCD
Mortgage Quality Assurance Manager Banking 39,800 XCD
Mortgage Servicing Clerk Banking 11,360 XCD
Mortgage Servicing Manager Banking 39,080 XCD
Mortgage Underwriter Banking 14,540 XCD
Online Banking Manager Banking 60,600 XCD
Personal Banker Banking 24,860 XCD
Personal Banking Advisor Banking 25,680 XCD
Phone Banker Banking 17,540 XCD
Private Banker Banking 25,940 XCD
Reconciliation and Investigation Specialist Banking 29,320 XCD
Tax Officer Banking 20,000 XCD
Teller Banking 10,980 XCD
Trade Officer Banking 12,580 XCD
Trade Product Manager Banking 43,220 XCD
Trader Banking 16,720 XCD
Treasury Operations Officer Banking 31,960 XCD

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