Average Risk Modeling Manager Salary in Aruba for 2024

In this article, we will look at the average Risk Modeling Manager salary for 2024 in Aruba 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 Aruban florin. To keep things simple, we are using the AWG currency code instead of the currency symbol ƒ.

How Much Does a Risk Modeling Manager Make in Aruba?

A Risk Modeling Manager working in Aruba will typically earn around 53,120 AWG per year, and this can range from the lowest average salary of about 26,780 AWG to the highest average salary of 78,400 AWG.

These are average salaries for a Risk Modeling Manager in Aruba and include benefits such as housing and transport. It's also possible for a Risk Modeling Manager to earn more or less than the average salaries shown above.

Risk Modeling Manager 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 Risk Modeling Manager Salaries in Aruba

So we've looked at the average salaries a Risk Modeling Manager will earn in Aruba. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Risk Modeling Manager can earn between 26,780 AWG and 78,400 AWG on average in Aruba. 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 Risk Modeling Manager in Aruba is 50,080 AWG. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 50,080 AWG, and 50% of the population earn more than 50,080 AWG.

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 Risk Modeling Manager salary in Aruba, 25% of the population are earning less than 35,340 AWG while 75% of the population earn more than 35,340 AWG.

75% of the population earn less than 62,420 AWG, and 25% of the population earn more than 62,420 AWG.

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.

Risk Modeling Manager Salary by Experience Level in Aruba

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 risk modeling manager 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 Risk Modeling Manager in Aruba that has less than two years of experience can expect to earn somewhere in the region of 31,400 AWG.
• 2 - 5 Years Experience. With two to five years of experience the average Risk Modeling Manager salary would increase to 40,040 AWG.
• 5 - 10 Years Experience. From five to ten years of experience as a Risk Modeling Manager, the average salary would be 53,380 AWG.
• 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 62,860 AWG.
• 15 - 20 Years Experience. A Risk Modeling Manager with 15 to 20 years of experience can earn an average of 69,260 AWG.
• 20+ Years Experience. For a Risk Modeling Manager with more than 20 years, the expected average salary increases to 75,280 AWG.

Average Salary by Experience Chart

Risk Modeling Manager Salary by Education Level in Aruba

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 Risk Modeling Manager in Aruba 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 Risk Modeling Manager in Aruba with a bachelor's degree education can earn an average salary of 41,480 AWG.

• Master's Degree. A Risk Modeling Manager in Aruba with a master's degree education can earn an average salary of 61,180 AWG.

Average Salary by Education Chart

Risk Modeling Manager 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 Aruba, a male risk modeling manager will earn an average of 56,880 AWG, while a female risk modeling manager will earn around 48,760 AWG.

This means that a male risk modeling manager earns approximately 17% more than a female risk modeling manager for performing the same job.

Average Salary by Gender Chart in Aruba

Risk Modeling Manager Average Pay Raise in Aruba

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 Risk Modeling Manager in Aruba is around 9% every 30 months.

The national average pay raise across all professions and industries in Aruba 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 = ( 9 ÷ 30 ) × 12  = 4%

What this means is that a Risk Modeling Manager in Aruba can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Aruba for 2024

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

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

Risk Modeling Manager Bonus and Incentive Rates in Aruba

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 Risk Modeling Manager is a moderate bonus based job, with 62% of employees reporting at least one bonus in the last 12 months.

38% 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 6% to 8%.

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 Aruba earn approximately 14% more than private sector employees in the same role.

Salaries for Jobs Similar to a Risk Modeling Manager

In the table below, we have salary information for jobs that are similar to a Risk Modeling Manager in Aruba.

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