Average Payment Services Specialist Salary in Paraguay for 2024

In this article, we will look at the average Payment Services Specialist salary for 2024 in Paraguay 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 Paraguayan guaraní. To keep things simple, we are using the PYG currency code instead of the currency symbol ₲.

How Much Does a Payment Services Specialist Make in Paraguay?

A Payment Services Specialist working in Paraguay will typically earn around 95,399,800 PYG per year, and this can range from the lowest average salary of about 50,519,600 PYG to the highest average salary of 145,200,100 PYG.

Average Annual Salary
95,399,800 PYG
Average Monthly Salary
7,949,983 PYG

Lowest Annual Salary
50,519,600 PYG
Lowest Monthly Salary
4,209,966 PYG

Highest Annual Salary
145,200,100 PYG
Highest Monthly Salary
12,100,008 PYG

These are average salaries for a Payment Services Specialist in Paraguay 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 Paraguay

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

Salary ranges

We already know that a Payment Services Specialist can earn between 50,519,600 PYG and 145,200,100 PYG on average in Paraguay. 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 Paraguay is 89,639,700 PYG. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 89,639,700 PYG, and 50% of the population earn more than 89,639,700 PYG.

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 Paraguay, 25% of the population are earning less than 63,120,600 PYG while 75% of the population earn more than 63,120,600 PYG.

75% of the population earn less than 110,280,700 PYG, and 25% of the population earn more than 110,280,700 PYG.

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 Paraguay

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 Paraguay that has less than two years of experience can expect to earn somewhere in the region of 58,079,300 PYG.
  • 2 - 5 Years Experience. With two to five years of experience the average Payment Services Specialist salary would increase to 71,280,900 PYG.
  • 5 - 10 Years Experience. From five to ten years of experience as a Payment Services Specialist, the average salary would be 101,038,700 PYG.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 118,079,000 PYG.
  • 15 - 20 Years Experience. A Payment Services Specialist with 15 to 20 years of experience can earn an average of 129,601,700 PYG.
  • 20+ Years Experience. For a Payment Services Specialist with more than 20 years, the expected average salary increases to 136,800,100 PYG.

Average Salary by Experience Chart

0-2 Years
58,079,300 PYG
2-5 Years +23%
71,280,900 PYG
5-10 Years +42%
101,038,700 PYG
10-15 Years +17%
118,079,000 PYG
15-20 Years +10%
129,601,700 PYG
20+ Years +6%
136,800,100 PYG

Payment Services Specialist Salary by Education Level in Paraguay

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 Paraguay 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 Paraguay with a bachelor's degree education can earn an average salary of 65,641,400 PYG.

  • Master's Degree. A Payment Services Specialist in Paraguay with a master's degree education can earn an average salary of 127,201,600 PYG.

Average Salary by Education Chart

Bachelor's Degree
65,641,400 PYG
Master's Degree +93%
127,201,600 PYG

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 Paraguay is around 41,100,000 to 123,000,000 PYG 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 Paraguay, a male payment services specialist will earn an average of 98,761,000 PYG, while a female payment services specialist will earn around 90,358,800 PYG.

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 Paraguay

Male
98,761,000 PYG
Female -9%
90,358,800 PYG

Payment Services Specialist Average Pay Raise in Paraguay

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 Paraguay is around 7% every 29 months.

The national average pay raise across all professions and industries in Paraguay 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 ÷ 29 ) × 12  = 3%

What this means is that a Payment Services Specialist in Paraguay can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Paraguay for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Payment Services Specialist Bonus and Incentive Rates in Paraguay

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 34% of employees reporting at least one bonus in the last 12 months.

66% 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
34%
No Bonus
66%

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 Paraguay earn approximately 10% more than private sector employees in the same role.

Public Sector
105,478,200 PYG
Private Sector -10%
95,639,500 PYG

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 Paraguay.

Job Title Category Salary
Actuarial Analyst Insurance 124,799,100 PYG
Actuarial Assistant Insurance 93,718,300 PYG
Actuarial Specialist Insurance 92,158,600 PYG
Actuary Insurance 135,600,300 PYG
Adjustment Insurance Clerk Insurance 35,640,500 PYG
Assistant Broker Insurance 61,561,100 PYG
Assistant Claims Manager Insurance 99,601,100 PYG
Associate Insurance Representative Insurance 51,719,500 PYG
Auditing Insurance Manager Insurance 138,000,600 PYG
Broker Insurance 101,038,700 PYG
Claim Advocacy Professional Insurance 99,958,900 PYG
Claims Adjuster Insurance 36,960,300 PYG
Claims Analyst Insurance 50,281,100 PYG
Claims Examiner Insurance 48,721,100 PYG
Claims Manager Insurance 141,598,200 PYG
Claims Processor Insurance 36,121,000 PYG
Claims Representative Insurance 44,519,300 PYG
Claims Resolution Specialist Insurance 104,159,300 PYG
Claims Supervisor Insurance 93,358,300 PYG
Complaints Specialist Insurance 91,679,200 PYG
Compliance Examiner Insurance 92,400,700 PYG
Compliance Officer Insurance 81,719,100 PYG
Compliance Reviewer Insurance 88,440,900 PYG
Consultant Insurance 97,199,500 PYG
Eligibility Interviewer Insurance 104,878,200 PYG
Eligibility Specialist Insurance 101,281,000 PYG
Insurance Account Manager Insurance 113,638,200 PYG
Insurance Accounts Executive Insurance 102,119,600 PYG
Insurance Adjuster Insurance 85,560,900 PYG
Insurance Agent Insurance 57,359,300 PYG
Insurance Analyst Insurance 95,880,900 PYG
Insurance Appraiser Insurance 100,200,300 PYG
Insurance Claims Clerk Insurance 36,001,200 PYG
Insurance Examiner Insurance 86,040,800 PYG
Insurance Investigator Insurance 94,681,700 PYG
Insurance Manager Insurance 164,398,100 PYG
Insurance Operations Manager Insurance 164,398,100 PYG
Insurance Policy Processing Clerk Insurance 36,240,700 PYG
Insurance Pricing Assistant Insurance 75,360,300 PYG
Insurance Program Manager Insurance 122,398,700 PYG
Insurance Project Manager Insurance 123,599,800 PYG
Insurance Quality Assurance Agent Insurance 86,398,400 PYG
Insurance Sales Agent Insurance 56,158,300 PYG
Insurance Sales Director Insurance 163,201,300 PYG
Insurance Sales Manager Insurance 125,999,700 PYG
Insurance Sales Representative Insurance 52,681,700 PYG
Insurance Team Leader Insurance 99,119,900 PYG
Insurance Underwriter Insurance 74,039,800 PYG
Loss Control Specialist Insurance 94,681,700 PYG
Loss Prevention Investigator Insurance 98,880,700 PYG
Loss Prevention Manager Insurance 134,400,400 PYG
Loss Prevention Specialist Insurance 105,118,300 PYG
Marine Underwriter Insurance 70,079,900 PYG
Medical Auditor Insurance 96,838,800 PYG
Monitoring and Performance Officer Insurance 66,720,300 PYG
Policy Change Director Insurance 147,600,500 PYG
Policy Change Supervisor Insurance 109,559,500 PYG
Policy Change Technician Insurance 47,640,400 PYG
Risk Analyst Insurance 103,201,100 PYG
Risk Management Director Insurance 191,999,600 PYG
Risk Management Supervisor Insurance 119,998,200 PYG
Risk Manager Insurance 172,800,900 PYG
Risk Modeling Manager Insurance 185,999,300 PYG
Title Insurance Typist Insurance 79,679,400 PYG
Training Manager Insurance 107,281,600 PYG

Salary Comparison by City

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

City Average Salary
Asuncion 105,960,300 PYG

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