Average Underwriter Salary in Saint Vincent and the Grenadines for 2024

In this article, we will look at the average Underwriter salary for 2024 in Saint Vincent and the Grenadines 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 Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does an Underwriter Make in Saint Vincent and the Grenadines?

An Underwriter working in Saint Vincent and the Grenadines will typically earn around 16,980 XCD per year, and this can range from the lowest average salary of about 9,360 XCD to the highest average salary of 27,480 XCD.

Average Annual Salary
16,980 XCD
Average Monthly Salary
1,415 XCD

Lowest Annual Salary
9,360 XCD
Lowest Monthly Salary
780 XCD

Highest Annual Salary
27,480 XCD
Highest Monthly Salary
2,290 XCD

These are average salaries for an Underwriter in Saint Vincent and the Grenadines and include benefits such as housing and transport. It's also possible for an Underwriter to earn more or less than the average salaries shown above.

Underwriter 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 Underwriter Salaries in Saint Vincent and the Grenadines

So we've looked at the average salaries an Underwriter will earn in Saint Vincent and the Grenadines. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Underwriter can earn between 9,360 XCD and 27,480 XCD on average in Saint Vincent and the Grenadines. 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 an Underwriter in Saint Vincent and the Grenadines is 19,480 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 19,480 XCD, and 50% of the population earn more than 19,480 XCD.

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 Underwriter salary in Saint Vincent and the Grenadines, 25% of the population are earning less than 12,120 XCD while 75% of the population earn more than 12,120 XCD.

75% of the population earn less than 24,720 XCD, and 25% of the population earn more than 24,720 XCD.

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.

Underwriter Salary by Experience Level in Saint Vincent and the Grenadines

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 underwriter 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. An Underwriter in Saint Vincent and the Grenadines that has less than two years of experience can expect to earn somewhere in the region of 9,980 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Underwriter salary would increase to 12,000 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Underwriter, the average salary would be 19,480 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 22,400 XCD.
  • 15 - 20 Years Experience. An Underwriter with 15 to 20 years of experience can earn an average of 27,020 XCD.
  • 20+ Years Experience. For an Underwriter with more than 20 years, the expected average salary increases to 26,100 XCD.

Average Salary by Experience Chart

0-2 Years
9,980 XCD
2-5 Years +38%
12,000 XCD
5-10 Years +42%
19,480 XCD
10-15 Years +22%
22,400 XCD
15-20 Years +6%
27,020 XCD
20+ Years +9%
26,100 XCD

Underwriter Salary by Education Level in Saint Vincent and the Grenadines

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 an Underwriter in Saint Vincent and the Grenadines based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. An Underwriter in Saint Vincent and the Grenadines with a high school education can earn an average salary of 12,200 XCD.

  • Certificate or Diploma. An Underwriter in Saint Vincent and the Grenadines with a certificate or diploma education can earn an average salary of 19,220 XCD.

  • Bachelor's Degree. An Underwriter in Saint Vincent and the Grenadines with a bachelor's degree education can earn an average salary of 29,040 XCD.

Average Salary by Education Chart

High School
12,200 XCD
Certificate or Diploma +51%
19,220 XCD
Bachelor's Degree +50%
29,040 XCD

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 Saint Vincent and the Grenadines is around 17,000 to 50,900 XCD 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.

Underwriter 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 Saint Vincent and the Grenadines, a male underwriter will earn an average of 20,520 XCD, while a female underwriter will earn around 15,920 XCD.

This means that a male underwriter earns approximately 29% more than a female underwriter for performing the same job.

Average Salary by Gender Chart in Saint Vincent and the Grenadines

Male
20,520 XCD
Female -29%
15,920 XCD

Underwriter Average Pay Raise in Saint Vincent and the Grenadines

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 an Underwriter in Saint Vincent and the Grenadines is around 6% every 28 months.

The national average pay raise across all professions and industries in Saint Vincent and the Grenadines 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 = ( 6 ÷ 28 ) × 12  = 3%

What this means is that an Underwriter in Saint Vincent and the Grenadines can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Saint Vincent and the Grenadines for 2024

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

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%

Underwriter Bonus and Incentive Rates in Saint Vincent and the Grenadines

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.

An Underwriter is a low bonus based job, with 14% of employees reporting at least one bonus in the last 12 months.

86% 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 0% to 4%.

Received Bonus
14%
No Bonus
86%

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 Saint Vincent and the Grenadines earn approximately 19% more than private sector employees in the same role.

Public Sector
45,060 XCD
Private Sector -19%
37,880 XCD

Salaries for Jobs Similar to an Underwriter

In the table below, we have salary information for jobs that are similar to an Underwriter in Saint Vincent and the Grenadines.

Job Title Category Salary
Account Examiner Accounting and Finance 21,020 XCD
Account Executive Accounting and Finance 33,520 XCD
Accountant Accounting and Finance 26,080 XCD
Accounting Analyst Accounting and Finance 31,520 XCD
Accounting Assistant Accounting and Finance 19,380 XCD
Accounting Associate Accounting and Finance 19,160 XCD
Accounting Clerk Accounting and Finance 15,380 XCD
Accounting Coordinator Accounting and Finance 25,940 XCD
Accounting Head Accounting and Finance 53,160 XCD
Accounting Manager Accounting and Finance 58,800 XCD
Accounting Officer Accounting and Finance 21,560 XCD
Accounting Specialist Accounting and Finance 40,140 XCD
Accounting Supervisor Accounting and Finance 37,740 XCD
Accounting Technician Accounting and Finance 17,760 XCD
Accounting Unit Controller Accounting and Finance 49,360 XCD
Accounts Executive Accounting and Finance 36,020 XCD
Accounts Officer Accounting and Finance 23,380 XCD
Accounts Payable and Receivable Specialist Accounting and Finance 27,560 XCD
Accounts Payable Assistant Accounting and Finance 23,520 XCD
Accounts Payable Associate Accounting and Finance 25,680 XCD
Accounts Payable Clerk Accounting and Finance 21,400 XCD
Accounts Payable Manager Accounting and Finance 56,060 XCD
Accounts Receivable Administrator Accounting and Finance 41,180 XCD
Accounts Receivable Clerk Accounting and Finance 21,100 XCD
Accounts Receivable Financial Analyst Accounting and Finance 39,800 XCD
Accounts Receivable Manager Accounting and Finance 52,380 XCD
Accounts Receivable Team Leader Accounting and Finance 42,040 XCD
Assistant Accountant Accounting and Finance 19,380 XCD
Assistant Accounting Manager Accounting and Finance 51,400 XCD
Assistant Auditor Accounting and Finance 26,660 XCD
Assistant Corporate Controller Accounting and Finance 39,160 XCD
Assistant Finance Manager Accounting and Finance 52,880 XCD
Assistant Financial Controller Accounting and Finance 39,640 XCD
Audit Director Accounting and Finance 61,840 XCD
Audit Supervisor Accounting and Finance 52,540 XCD
Auditing Clerk Accounting and Finance 23,380 XCD
Auditing Manager Accounting and Finance 56,140 XCD
Billing Clerk Accounting and Finance 19,980 XCD
Billing Coordinator Accounting and Finance 25,940 XCD
Billing Specialist Accounting and Finance 28,720 XCD
Billing Supervisor Accounting and Finance 41,820 XCD
Bookkeeper Accounting and Finance 17,760 XCD
Bookkeeping Specialist Accounting and Finance 25,680 XCD
Budget Analyst Accounting and Finance 45,720 XCD
Budget Manager Accounting and Finance 54,560 XCD
Business Support Analyst Accounting and Finance 31,940 XCD
Capital Markets Associate Accounting and Finance 41,820 XCD
Cash Flow Analyst Accounting and Finance 41,660 XCD
Cash Management Manager Accounting and Finance 50,540 XCD
Cash Management Officer Accounting and Finance 30,700 XCD
Cashbook Clerk Accounting and Finance 17,760 XCD
Chartered Accountant Accounting and Finance 35,260 XCD
Chief Accountant Accounting and Finance 38,700 XCD
Collections Clerk Accounting and Finance 16,400 XCD
Collections Representative Accounting and Finance 26,020 XCD
Collections Specialist Accounting and Finance 26,660 XCD
Corporate Controller Accounting and Finance 43,080 XCD
Corporate Treasurer Accounting and Finance 52,540 XCD
Cost Accountant Accounting and Finance 26,860 XCD
Cost Accounting Manager Accounting and Finance 50,540 XCD
Cost Accounting Supervisor Accounting and Finance 46,160 XCD
Cost Analyst Accounting and Finance 46,160 XCD
Credit and Collection Manager Accounting and Finance 53,160 XCD
Credit and Collection Staff Accounting and Finance 21,400 XCD
Credit and Loans Officer Accounting and Finance 21,020 XCD
Credit Controller Accounting and Finance 40,240 XCD
Credit Manager Accounting and Finance 58,860 XCD
Debt Adviser Accounting and Finance 45,580 XCD
Debt Collector Accounting and Finance 21,560 XCD
Debtors Clerk Accounting and Finance 20,120 XCD
Debtors Controller Accounting and Finance 21,560 XCD
Deputy CFO Accounting and Finance 73,820 XCD
Deputy Head of Finance Accounting and Finance 77,340 XCD
Derivative Trader Accounting and Finance 46,980 XCD
Director of Finance Accounting and Finance 77,120 XCD
Economist Accounting and Finance 63,400 XCD
Equity Analyst Accounting and Finance 50,980 XCD
Escrow Assistant Accounting and Finance 26,020 XCD
Executive Accountant Accounting and Finance 29,640 XCD
External Auditor Accounting and Finance 38,140 XCD
Finance Administrator Accounting and Finance 31,980 XCD
Finance Analyst Accounting and Finance 50,020 XCD
Finance Associate Accounting and Finance 23,140 XCD
Finance Director Accounting and Finance 79,500 XCD
Finance Executive Accounting and Finance 54,500 XCD
Finance Licensing Clerk Accounting and Finance 20,520 XCD
Finance Licensing Manager Accounting and Finance 53,600 XCD
Finance Licensing Specialist Accounting and Finance 27,560 XCD
Finance Manager Accounting and Finance 76,540 XCD
Finance Officer Accounting and Finance 27,040 XCD
Finance President Accounting and Finance 80,760 XCD
Finance Relationship Manager Accounting and Finance 64,300 XCD
Finance Release Analyst Accounting and Finance 33,440 XCD
Finance Specialist Accounting and Finance 45,580 XCD
Finance Team Leader Accounting and Finance 61,680 XCD
Financial Accountant Accounting and Finance 28,900 XCD
Financial Actuary Accounting and Finance 43,340 XCD
Financial Administrator Accounting and Finance 48,200 XCD
Financial Advisor Accounting and Finance 47,580 XCD
Financial Analyst Accounting and Finance 48,920 XCD
Financial Applications Specialist Accounting and Finance 35,340 XCD
Financial Assistant Accounting and Finance 21,980 XCD
Financial Associate Accounting and Finance 24,840 XCD
Financial Associate Accounting and Finance 28,180 XCD
Financial Claims Analyst Accounting and Finance 39,640 XCD
Financial Claims Manager Accounting and Finance 50,080 XCD
Financial Claims Supervisor Accounting and Finance 43,800 XCD
Financial Clerk Accounting and Finance 19,940 XCD
Financial Commercial Analyst Accounting and Finance 39,960 XCD
Financial Compliance Analyst Accounting and Finance 43,760 XCD
Financial Consultant Accounting and Finance 38,680 XCD
Financial Controller Accounting and Finance 42,040 XCD
Financial Controller Accounting and Finance 45,560 XCD
Financial Coordinator Accounting and Finance 23,360 XCD
Financial Customer Service Manager Accounting and Finance 50,340 XCD
Financial Dealer and Broker Accounting and Finance 31,540 XCD
Financial Director Accounting and Finance 85,880 XCD
Financial Encoder Accounting and Finance 23,080 XCD
Financial Manager Accounting and Finance 72,540 XCD
Financial Manager Accounting and Finance 74,620 XCD
Financial Operations Manager Accounting and Finance 67,300 XCD
Financial Policy Analyst Accounting and Finance 44,800 XCD
Financial Project Manager Accounting and Finance 52,880 XCD
Financial Quantitative Analyst Accounting and Finance 49,700 XCD
Financial Reporting Consultant Accounting and Finance 42,460 XCD
Financial Reporting Manager Accounting and Finance 53,380 XCD
Financial Section Head Accounting and Finance 52,820 XCD
Financial Services Manager Accounting and Finance 75,040 XCD
Financial Services Sales Agent Accounting and Finance 31,660 XCD
Fixed Assets Administrator Accounting and Finance 27,620 XCD
Forensic Accountant Accounting and Finance 33,440 XCD
Fraud Detection Supervisor Accounting and Finance 32,420 XCD
Fraud Prevention Manager Accounting and Finance 56,880 XCD
Fund Accountant Accounting and Finance 25,940 XCD
Grants Coordinator Accounting and Finance 19,060 XCD
Group Financial Manager Accounting and Finance 80,840 XCD
Internal Auditor Accounting and Finance 37,800 XCD
Internal Control Adviser Accounting and Finance 41,480 XCD
Internal Control Officer Accounting and Finance 24,820 XCD
International Tax Director Accounting and Finance 66,840 XCD
Inventory Accountant Accounting and Finance 29,840 XCD
Investment Advisor Accounting and Finance 69,040 XCD
Investment Analyst Accounting and Finance 56,460 XCD
Investment Associate Accounting and Finance 48,140 XCD
Investment Broker Accounting and Finance 45,720 XCD
Investment Fund Manager Accounting and Finance 63,380 XCD
Investment Operations Manager Accounting and Finance 63,700 XCD
Investment Underwriter Accounting and Finance 22,660 XCD
Investor Accounting and Finance 37,620 XCD
Investor Relations Manager Accounting and Finance 57,360 XCD
KYC Team Leader Accounting and Finance 52,540 XCD
Loan Processor Accounting and Finance 24,840 XCD
Management Accountant Accounting and Finance 31,340 XCD
Management Economist Accounting and Finance 66,020 XCD
Paymaster Accounting and Finance 23,520 XCD
Payroll Administrator Accounting and Finance 36,940 XCD
Payroll Benefits Coordinator Accounting and Finance 31,960 XCD
Payroll Billing Manager Accounting and Finance 52,180 XCD
Payroll Clerk Accounting and Finance 21,300 XCD
Payroll Manager Accounting and Finance 53,600 XCD
Payroll Officer Accounting and Finance 23,140 XCD
Payroll Specialist Accounting and Finance 26,860 XCD
Payroll Supervisor Accounting and Finance 35,000 XCD
Pensions Administrator Accounting and Finance 27,480 XCD
Personal Financial Advisor Accounting and Finance 39,420 XCD
Pricing Analyst Accounting and Finance 45,600 XCD
Private Equity Analyst Accounting and Finance 50,980 XCD
Project Accountant Accounting and Finance 26,400 XCD
Proposal Development Coordinator Accounting and Finance 24,800 XCD
Receivables Accountant Accounting and Finance 24,860 XCD
Regulatory Accountant Accounting and Finance 29,320 XCD
Retirement Plan Analyst Accounting and Finance 43,080 XCD
Revenue Management Specialist Accounting and Finance 42,960 XCD
Revenue Recognition Analyst Accounting and Finance 48,940 XCD
Risk Management Director Accounting and Finance 66,020 XCD
Risk Management Supervisor Accounting and Finance 53,600 XCD
Staff Accountant Accounting and Finance 25,660 XCD
Tax Accountant Accounting and Finance 25,660 XCD
Tax Administrator Accounting and Finance 28,720 XCD
Tax Advisor Accounting and Finance 43,080 XCD
Tax Analyst Accounting and Finance 44,800 XCD
Tax Associate Accounting and Finance 23,660 XCD
Tax Consultant Accounting and Finance 45,600 XCD
Tax Director Accounting and Finance 64,720 XCD
Tax Examiner Accounting and Finance 27,480 XCD
Tax Manager Accounting and Finance 60,400 XCD
Tax Research Manager Accounting and Finance 59,480 XCD
Teller Accounting and Finance 15,380 XCD
Treasury Accountant Accounting and Finance 28,900 XCD
Treasury Analyst Accounting and Finance 46,280 XCD
Underwriting Assistant Accounting and Finance 19,360 XCD
Vice President of Finance Accounting and Finance 75,500 XCD

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