Average Payment Services Specialist Salary in Azerbaijan for 2024

In this article, we will look at the average Payment Services Specialist salary for 2024 in Azerbaijan 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 Azerbaijani manat. To keep things simple, we are using the AZN currency code instead of the currency symbol โ‚ผ.

How Much Does a Payment Services Specialist Make in Azerbaijan?

A Payment Services Specialist working in Azerbaijan will typically earn around 38,060 AZN per year, and this can range from the lowest average salary of about 20,500 AZN to the highest average salary of 57,620 AZN.

Average Annual Salary
38,060 AZN
Average Monthly Salary
3,171 AZN

Lowest Annual Salary
20,500 AZN
Lowest Monthly Salary
1,708 AZN

Highest Annual Salary
57,620 AZN
Highest Monthly Salary
4,801 AZN

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

Payment Services Specialist 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 Services Specialist Salaries in Azerbaijan

So we've looked at the average salaries a Payment Services Specialist will earn in Azerbaijan. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Payment Services Specialist can earn between 20,500 AZN and 57,620 AZN on average in Azerbaijan. 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 Services Specialist in Azerbaijan is 36,800 AZN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 36,800 AZN, and 50% of the population earn more than 36,800 AZN.

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 Services Specialist salary in Azerbaijan, 25% of the population are earning less than 25,940 AZN while 75% of the population earn more than 25,940 AZN.

75% of the population earn less than 43,800 AZN, and 25% of the population earn more than 43,800 AZN.

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 Services Specialist Salary by Experience Level in Azerbaijan

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 services specialist 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 Services Specialist in Azerbaijan that has less than two years of experience can expect to earn somewhere in the region of 20,760 AZN.
  • 2 - 5 Years Experience. With two to five years of experience the average Payment Services Specialist salary would increase to 29,640 AZN.
  • 5 - 10 Years Experience. From five to ten years of experience as a Payment Services Specialist, the average salary would be 40,240 AZN.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 45,720 AZN.
  • 15 - 20 Years Experience. A Payment Services Specialist with 15 to 20 years of experience can earn an average of 50,560 AZN.
  • 20+ Years Experience. For a Payment Services Specialist with more than 20 years, the expected average salary increases to 53,320 AZN.

Average Salary by Experience Chart

0-2 Years
20,760 AZN
2-5 Years +34%
29,640 AZN
5-10 Years +30%
40,240 AZN
10-15 Years +21%
45,720 AZN
15-20 Years +9%
50,560 AZN
20+ Years +5%
53,320 AZN

Payment Services Specialist Salary by Education Level in Azerbaijan

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 Services Specialist in Azerbaijan 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 Payment Services Specialist in Azerbaijan with a bachelor's degree education can earn an average salary of 32,200 AZN.

  • Master's Degree. A Payment Services Specialist in Azerbaijan with a master's degree education can earn an average salary of 43,340 AZN.

Average Salary by Education Chart

Bachelor's Degree
32,200 AZN
Master's Degree +39%
43,340 AZN

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 Azerbaijan is around 14,700 to 44,200 AZN 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 Services Specialist 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 Azerbaijan, a male payment services specialist will earn an average of 41,660 AZN, while a female payment services specialist will earn around 38,180 AZN.

This means that a male payment services specialist earns approximately 9% more than a female payment services specialist for performing the same job.

Average Salary by Gender Chart in Azerbaijan

Male
41,660 AZN
Female -9%
38,180 AZN

Payment Services Specialist Average Pay Raise in Azerbaijan

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 Services Specialist in Azerbaijan is around 10% every 21 months.

The national average pay raise across all professions and industries in Azerbaijan is around 7% every 20 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 = ( 10 ÷ 21 ) × 12  = 6%

What this means is that a Payment Services Specialist in Azerbaijan can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Azerbaijan for 2024

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

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%

Payment Services Specialist Bonus and Incentive Rates in Azerbaijan

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 Services Specialist is a low bonus based job, with 49% of employees reporting at least one bonus in the last 12 months.

51% 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 3% to 5%.

Received Bonus
49%
No Bonus
51%

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 Azerbaijan earn approximately 3% more than private sector employees in the same role.

Public Sector
36,020 AZN
Private Sector -3%
34,980 AZN

Salaries for Jobs Similar to a Payment Services Specialist

In the table below, we have salary information for jobs that are similar to a Payment Services Specialist in Azerbaijan.

Job Title Category Salary
Actuarial Analyst Insurance 45,600 AZN
Actuarial Assistant Insurance 34,540 AZN
Actuarial Specialist Insurance 35,300 AZN
Actuary Insurance 47,580 AZN
Adjustment Insurance Clerk Insurance 11,360 AZN
Assistant Broker Insurance 20,760 AZN
Assistant Claims Manager Insurance 40,420 AZN
Associate Insurance Representative Insurance 19,020 AZN
Auditing Insurance Manager Insurance 52,380 AZN
Broker Insurance 38,140 AZN
Claim Advocacy Professional Insurance 37,740 AZN
Claims Adjuster Insurance 14,620 AZN
Claims Analyst Insurance 19,360 AZN
Claims Examiner Insurance 19,020 AZN
Claims Manager Insurance 53,660 AZN
Claims Processor Insurance 13,560 AZN
Claims Representative Insurance 17,100 AZN
Claims Resolution Specialist Insurance 41,900 AZN
Claims Supervisor Insurance 35,300 AZN
Complaints Specialist Insurance 32,960 AZN
Compliance Examiner Insurance 32,900 AZN
Compliance Officer Insurance 31,940 AZN
Compliance Reviewer Insurance 31,520 AZN
Consultant Insurance 35,300 AZN
Eligibility Interviewer Insurance 39,160 AZN
Eligibility Specialist Insurance 36,160 AZN
Insurance Account Manager Insurance 42,960 AZN
Insurance Accounts Executive Insurance 41,900 AZN
Insurance Adjuster Insurance 35,500 AZN
Insurance Agent Insurance 22,420 AZN
Insurance Analyst Insurance 37,200 AZN
Insurance Appraiser Insurance 37,740 AZN
Insurance Claims Clerk Insurance 11,880 AZN
Insurance Examiner Insurance 35,300 AZN
Insurance Investigator Insurance 35,340 AZN
Insurance Manager Insurance 60,460 AZN
Insurance Operations Manager Insurance 60,460 AZN
Insurance Policy Processing Clerk Insurance 12,580 AZN
Insurance Pricing Assistant Insurance 29,640 AZN
Insurance Program Manager Insurance 49,560 AZN
Insurance Project Manager Insurance 45,580 AZN
Insurance Quality Assurance Agent Insurance 30,700 AZN
Insurance Sales Agent Insurance 21,400 AZN
Insurance Sales Director Insurance 60,400 AZN
Insurance Sales Manager Insurance 48,940 AZN
Insurance Sales Representative Insurance 20,300 AZN
Insurance Team Leader Insurance 37,880 AZN
Insurance Underwriter Insurance 27,620 AZN
Loss Control Specialist Insurance 37,740 AZN
Loss Prevention Investigator Insurance 37,880 AZN
Loss Prevention Manager Insurance 52,460 AZN
Loss Prevention Specialist Insurance 36,700 AZN
Marine Underwriter Insurance 27,040 AZN
Medical Auditor Insurance 36,020 AZN
Monitoring and Performance Officer Insurance 25,720 AZN
Policy Change Director Insurance 56,460 AZN
Policy Change Supervisor Insurance 41,700 AZN
Policy Change Technician Insurance 19,640 AZN
Risk Analyst Insurance 40,240 AZN
Risk Management Director Insurance 67,320 AZN
Risk Management Supervisor Insurance 43,760 AZN
Risk Manager Insurance 67,120 AZN
Risk Modeling Manager Insurance 67,800 AZN
Title Insurance Typist Insurance 31,960 AZN
Training Manager Insurance 37,880 AZN

Salary Comparison by City

If you want to compare salaries with different cities in Azerbaijan, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Baku 42,040 AZN
Ganja 40,420 AZN
Sumqayit 34,120 AZN

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 Payment Services Specialist Salary in Azerbaijan for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-payment-services-specialist-salary-in-azerbaijan/.

  • "Average Payment Services Specialist Salary in Azerbaijan for 2024". World Salaries, https://worldsalaries.com/average-payment-services-specialist-salary-in-azerbaijan/. Accessed 28 March, 2024

  • Average Payment Services Specialist Salary in Azerbaijan for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-payment-services-specialist-salary-in-azerbaijan/.