Average Real Estate Broker Salary in Bulgaria for 2024

In this article, we will look at the average Real Estate Broker salary for 2024 in Bulgaria 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 Bulgarian lev. To keep things simple, we are using the BGN currency code instead of the currency symbol лв.

How Much Does a Real Estate Broker Make in Bulgaria?

A Real Estate Broker working in Bulgaria will typically earn around 33,120 BGN per year, and this can range from the lowest average salary of about 17,100 BGN to the highest average salary of 50,080 BGN.

Average Annual Salary
33,120 BGN
Average Monthly Salary
2,760 BGN

Lowest Annual Salary
17,100 BGN
Lowest Monthly Salary
1,425 BGN

Highest Annual Salary
50,080 BGN
Highest Monthly Salary
4,173 BGN

These are average salaries for a Real Estate Broker in Bulgaria and include benefits such as housing and transport. It's also possible for a Real Estate Broker to earn more or less than the average salaries shown above.

Real Estate Broker 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 Real Estate Broker Salaries in Bulgaria

So we've looked at the average salaries a Real Estate Broker will earn in Bulgaria. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Real Estate Broker can earn between 17,100 BGN and 50,080 BGN on average in Bulgaria. 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 Real Estate Broker in Bulgaria is 31,520 BGN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 31,520 BGN, and 50% of the population earn more than 31,520 BGN.

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 Real Estate Broker salary in Bulgaria, 25% of the population are earning less than 23,520 BGN while 75% of the population earn more than 23,520 BGN.

75% of the population earn less than 40,600 BGN, and 25% of the population earn more than 40,600 BGN.

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.

Real Estate Broker Salary by Experience Level in Bulgaria

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 real estate broker 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 Real Estate Broker in Bulgaria that has less than two years of experience can expect to earn somewhere in the region of 16,980 BGN.
  • 2 - 5 Years Experience. With two to five years of experience the average Real Estate Broker salary would increase to 23,660 BGN.
  • 5 - 10 Years Experience. From five to ten years of experience as a Real Estate Broker, the average salary would be 31,980 BGN.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 38,780 BGN.
  • 15 - 20 Years Experience. A Real Estate Broker with 15 to 20 years of experience can earn an average of 45,060 BGN.
  • 20+ Years Experience. For a Real Estate Broker with more than 20 years, the expected average salary increases to 48,340 BGN.

Average Salary by Experience Chart

0-2 Years
16,980 BGN
2-5 Years +28%
23,660 BGN
5-10 Years +38%
31,980 BGN
10-15 Years +24%
38,780 BGN
15-20 Years +7%
45,060 BGN
20+ Years +7%
48,340 BGN

Real Estate Broker Salary by Education Level in Bulgaria

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 Real Estate Broker in Bulgaria based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Real Estate Broker in Bulgaria with a high school education can earn an average salary of 22,660 BGN.

  • Certificate or Diploma. A Real Estate Broker in Bulgaria with a certificate or diploma education can earn an average salary of 25,720 BGN.

  • Bachelor's Degree. A Real Estate Broker in Bulgaria with a bachelor's degree education can earn an average salary of 36,160 BGN.

  • Master's Degree. A Real Estate Broker in Bulgaria with a master's degree education can earn an average salary of 46,400 BGN.

Average Salary by Education Chart

High School
22,660 BGN
Certificate or Diploma +15%
25,720 BGN
Bachelor's Degree +35%
36,160 BGN
Master's Degree +26%
46,400 BGN

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 Bulgaria is around 16,500 to 49,500 BGN 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.

Real Estate Broker 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 Bulgaria, a male real estate broker will earn an average of 33,960 BGN, while a female real estate broker will earn around 31,940 BGN.

This means that a male real estate broker earns approximately 6% more than a female real estate broker for performing the same job.

Average Salary by Gender Chart in Bulgaria

Male
33,960 BGN
Female -6%
31,940 BGN

Real Estate Broker Average Pay Raise in Bulgaria

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 Real Estate Broker in Bulgaria is around 9% every 20 months.

The national average pay raise across all professions and industries in Bulgaria 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 = ( 9 ÷ 20 ) × 12  = 5%

What this means is that a Real Estate Broker in Bulgaria can expect to receive an average pay raise of around 5% every 12 months.

Annual Pay Raise by Industry in Bulgaria for 2024

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

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%

Real Estate Broker Bonus and Incentive Rates in Bulgaria

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 Real Estate Broker is a moderate bonus based job, with 53% of employees reporting at least one bonus in the last 12 months.

47% 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 6%.

Received Bonus
53%
No Bonus
47%

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 Bulgaria earn approximately 2% more than private sector employees in the same role.

Public Sector
40,040 BGN
Private Sector -2%
39,160 BGN

Salaries for Jobs Similar to a Real Estate Broker

In the table below, we have salary information for jobs that are similar to a Real Estate Broker in Bulgaria.

Job Title Category Salary
Acquisition Associate Real Estate 33,960 BGN
Assistant Leasing Manager Real Estate 42,960 BGN
Assistant Property Manager Real Estate 47,540 BGN
Brokerage Real Estate 33,120 BGN
Brokerage Clerk Real Estate 15,300 BGN
Commercial Leasing Manager Real Estate 68,580 BGN
Commercial Real Estate Manager Real Estate 73,020 BGN
Community Development Manager Real Estate 60,160 BGN
Compliance Specialist Real Estate 30,700 BGN
Development Coordinator Real Estate 35,500 BGN
Director of Real Estate Real Estate 73,980 BGN
Lease Administrator Real Estate 42,320 BGN
Leasing Agent Real Estate 36,800 BGN
Leasing Consultant Real Estate 40,420 BGN
Leasing Manager Real Estate 48,140 BGN
Lettings Assistant Real Estate 15,920 BGN
Portfolio Analyst Real Estate 57,860 BGN
Portfolio Manager Real Estate 73,820 BGN
Property Acquisition Agent Real Estate 30,800 BGN
Property and Claims Specialist Real Estate 42,400 BGN
Property Manager Real Estate 51,340 BGN
Property Operations Manager Real Estate 69,540 BGN
Property Tax Assistant Real Estate 35,520 BGN
Real Estate Administrator Real Estate 36,020 BGN
Real Estate Agent Real Estate 37,620 BGN
Real Estate Analyst Real Estate 43,340 BGN
Real Estate Appraiser Real Estate 33,520 BGN
Real Estate Appraiser Real Estate 35,340 BGN
Real Estate Appraiser Real Estate 35,420 BGN
Real Estate Assistant Real Estate 34,240 BGN
Real Estate Association Manager Real Estate 44,720 BGN
Real Estate General Manager Real Estate 69,060 BGN
Real Estate Project Director Real Estate 62,860 BGN
Real Estate Project Manager Real Estate 59,380 BGN
Real Estate Sales Agent Real Estate 36,940 BGN
Real Estate Valuer Real Estate 34,280 BGN
Research Analyst Real Estate 31,340 BGN
Residential Advisor Real Estate 40,420 BGN
Residential Property Manager Real Estate 48,760 BGN
Shopping Center Manager Real Estate 75,260 BGN
Town Planner Real Estate 68,320 BGN

Salary Comparison by City

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

City Average Salary
Burgas 32,420 BGN
Plovdiv 35,260 BGN
Rousse 31,340 BGN
Sofia 36,160 BGN
Stara Zagora 32,200 BGN
Varna 34,160 BGN

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