Average Risk Modeling Manager Salary in Brunei for 2024

In this article, we will look at the average Risk Modeling Manager salary for 2024 in Brunei 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 Brunei dollar. To keep things simple, we are using the BND currency code instead of the currency symbol $.

How Much Does a Risk Modeling Manager Make in Brunei?

A Risk Modeling Manager working in Brunei will typically earn around 77,640 BND per year, and this can range from the lowest average salary of about 38,680 BND to the highest average salary of 118,060 BND.

Average Annual Salary
77,640 BND
Average Monthly Salary
6,470 BND

Lowest Annual Salary
38,680 BND
Lowest Monthly Salary
3,223 BND

Highest Annual Salary
118,060 BND
Highest Monthly Salary
9,838 BND

These are average salaries for a Risk Modeling Manager in Brunei 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 Brunei

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

Salary ranges

We already know that a Risk Modeling Manager can earn between 38,680 BND and 118,060 BND on average in Brunei. 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 Brunei is 77,640 BND. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 77,640 BND, and 50% of the population earn more than 77,640 BND.

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 Brunei, 25% of the population are earning less than 51,400 BND while 75% of the population earn more than 51,400 BND.

75% of the population earn less than 98,440 BND, and 25% of the population earn more than 98,440 BND.

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.

Risk Modeling Manager Salary by Experience Level in Brunei

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 Brunei that has less than two years of experience can expect to earn somewhere in the region of 47,540 BND.
  • 2 - 5 Years Experience. With two to five years of experience the average Risk Modeling Manager salary would increase to 60,020 BND.
  • 5 - 10 Years Experience. From five to ten years of experience as a Risk Modeling Manager, the average salary would be 83,020 BND.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 98,140 BND.
  • 15 - 20 Years Experience. A Risk Modeling Manager with 15 to 20 years of experience can earn an average of 104,900 BND.
  • 20+ Years Experience. For a Risk Modeling Manager with more than 20 years, the expected average salary increases to 113,780 BND.

Average Salary by Experience Chart

0-2 Years
47,540 BND
2-5 Years +32%
60,020 BND
5-10 Years +34%
83,020 BND
10-15 Years +19%
98,140 BND
15-20 Years +8%
104,900 BND
20+ Years +7%
113,780 BND

Risk Modeling Manager Salary by Education Level in Brunei

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 Brunei 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 Brunei with a bachelor's degree education can earn an average salary of 64,920 BND.

  • Master's Degree. A Risk Modeling Manager in Brunei with a master's degree education can earn an average salary of 104,600 BND.

Average Salary by Education Chart

Bachelor's Degree
64,920 BND
Master's Degree +58%
104,600 BND

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 Brunei is around 16,100 to 48,200 BND 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.

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 Brunei, a male risk modeling manager will earn an average of 77,100 BND, while a female risk modeling manager will earn around 73,100 BND.

This means that a male risk modeling manager earns approximately 5% more than a female risk modeling manager for performing the same job.

Average Salary by Gender Chart in Brunei

Male
77,100 BND
Female -5%
73,100 BND

Risk Modeling Manager Average Pay Raise in Brunei

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 Brunei is around 9% every 30 months.

The national average pay raise across all professions and industries in Brunei 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 Brunei can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Brunei for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Risk Modeling Manager Bonus and Incentive Rates in Brunei

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 64% of employees reporting at least one bonus in the last 12 months.

36% 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 5% to 8%.

Received Bonus
64%
No Bonus
36%

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 Brunei earn approximately 6% more than private sector employees in the same role.

Public Sector
38,620 BND
Private Sector -6%
36,580 BND

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 Brunei.

Job Title Category Salary
Actuarial Analyst Insurance 52,380 BND
Actuarial Assistant Insurance 38,680 BND
Actuarial Specialist Insurance 37,740 BND
Actuary Insurance 53,660 BND
Adjustment Insurance Clerk Insurance 13,560 BND
Assistant Broker Insurance 24,800 BND
Assistant Claims Manager Insurance 41,900 BND
Associate Insurance Representative Insurance 21,540 BND
Auditing Insurance Manager Insurance 58,860 BND
Broker Insurance 38,680 BND
Claim Advocacy Professional Insurance 36,020 BND
Claims Adjuster Insurance 17,020 BND
Claims Analyst Insurance 20,500 BND
Claims Examiner Insurance 21,100 BND
Claims Manager Insurance 56,640 BND
Claims Processor Insurance 12,240 BND
Claims Representative Insurance 15,700 BND
Claims Resolution Specialist Insurance 42,320 BND
Claims Supervisor Insurance 39,960 BND
Complaints Specialist Insurance 34,360 BND
Compliance Examiner Insurance 39,160 BND
Compliance Officer Insurance 31,400 BND
Compliance Reviewer Insurance 38,680 BND
Consultant Insurance 37,880 BND
Eligibility Interviewer Insurance 43,480 BND
Eligibility Specialist Insurance 42,040 BND
Insurance Account Manager Insurance 49,200 BND
Insurance Accounts Executive Insurance 45,200 BND
Insurance Adjuster Insurance 36,160 BND
Insurance Agent Insurance 22,340 BND
Insurance Analyst Insurance 38,140 BND
Insurance Appraiser Insurance 41,700 BND
Insurance Claims Clerk Insurance 12,620 BND
Insurance Examiner Insurance 37,200 BND
Insurance Investigator Insurance 39,160 BND
Insurance Manager Insurance 66,100 BND
Insurance Operations Manager Insurance 65,800 BND
Insurance Policy Processing Clerk Insurance 14,540 BND
Insurance Pricing Assistant Insurance 31,400 BND
Insurance Program Manager Insurance 51,800 BND
Insurance Project Manager Insurance 49,200 BND
Insurance Quality Assurance Agent Insurance 35,520 BND
Insurance Sales Agent Insurance 22,420 BND
Insurance Sales Director Insurance 65,080 BND
Insurance Sales Manager Insurance 50,240 BND
Insurance Sales Representative Insurance 20,940 BND
Insurance Team Leader Insurance 39,560 BND
Insurance Underwriter Insurance 26,280 BND
Loss Control Specialist Insurance 37,740 BND
Loss Prevention Investigator Insurance 40,640 BND
Loss Prevention Manager Insurance 52,880 BND
Loss Prevention Specialist Insurance 42,460 BND
Marine Underwriter Insurance 30,840 BND
Medical Auditor Insurance 40,560 BND
Monitoring and Performance Officer Insurance 27,300 BND
Payment Services Specialist Insurance 41,700 BND
Policy Change Director Insurance 60,020 BND
Policy Change Supervisor Insurance 41,820 BND
Policy Change Technician Insurance 19,220 BND
Risk Analyst Insurance 44,540 BND
Risk Management Director Insurance 70,840 BND
Risk Management Supervisor Insurance 48,740 BND
Risk Manager Insurance 73,760 BND
Title Insurance Typist Insurance 34,480 BND
Training Manager Insurance 43,260 BND

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 Risk Modeling Manager Salary in Brunei for 2024". World Salaries. Accessed on March 29, 2024. https://worldsalaries.com/average-risk-modeling-manager-salary-in-brunei/.

  • "Average Risk Modeling Manager Salary in Brunei for 2024". World Salaries, https://worldsalaries.com/average-risk-modeling-manager-salary-in-brunei/. Accessed 29 March, 2024

  • Average Risk Modeling Manager Salary in Brunei for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-risk-modeling-manager-salary-in-brunei/.