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Insurance Average Salaries in Argentina 2020

How much money does a person working in Insurance make in Argentina?


Average Monthly Salary
45,300 ARS
( 544,000 ARS yearly)

LOW
16,800
ARS
AVERAGE
45,300
ARS
HIGH
87,400
ARS

A person working in Insurance in Argentina typically earns around 45,300 ARS per month. Salaries range from 16,800 ARS (lowest average) to 87,400 ARS (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst60,500 ARS
Actuarial Assistant43,000 ARS
Actuary63,000 ARS
Adjustment Insurance Clerk16,600 ARS
Assistant Broker29,800 ARS
Assistant Claims Manager51,300 ARS
Associate Insurance Representative24,300 ARS
Auditing Insurance Manager67,200 ARS
Broker44,900 ARS
Claim Advocacy Professional45,400 ARS
Claims Adjuster17,000 ARS
Claims Analyst24,000 ARS
Claims Examiner24,300 ARS
Claims Manager66,500 ARS
Claims Processor17,700 ARS
Claims Representative20,000 ARS
Claims Resolution Specialist49,200 ARS
Claims Supervisor47,600 ARS
Complaints Specialist44,000 ARS
Compliance Officer37,200 ARS
Consultant47,600 ARS
Eligibility Specialist48,700 ARS
Insurance Account Manager56,600 ARS
Insurance Accounts Executive49,200 ARS
Insurance Agent28,000 ARS
Insurance Analyst47,900 ARS
Insurance Appraiser49,100 ARS
Insurance Claims Clerk16,600 ARS
Insurance Examiner41,400 ARS
Insurance Investigator43,000 ARS
Insurance Manager79,800 ARS
Insurance Operations Manager81,300 ARS
Insurance Policy Processing Clerk17,200 ARS
Insurance Pricing Assistant36,400 ARS
Insurance Program Manager60,400 ARS
Insurance Project Manager60,700 ARS
Insurance Quality Assurance Agent40,600 ARS
Insurance Sales Agent27,700 ARS
Insurance Sales Director74,700 ARS
Insurance Team Leader51,100 ARS
Insurance Underwriter33,600 ARS
Loss Control Specialist46,900 ARS
Loss Prevention Investigator51,000 ARS
Loss Prevention Manager65,200 ARS
Loss Prevention Specialist48,200 ARS
Marine Underwriter35,700 ARS
Medical Auditor47,100 ARS
Monitoring and Performance Officer33,300 ARS
Payment Services Specialist49,100 ARS
Policy Change Director69,800 ARS
Policy Change Supervisor48,700 ARS
Policy Change Technician22,100 ARS
Risk Analyst52,000 ARS
Risk Management Director91,000 ARS
Risk Management Supervisor59,400 ARS
Risk Manager89,300 ARS
Risk Modeling Manager90,100 ARS
Title Insurance Typist41,100 ARS
Training Manager51,900 ARS

Insurance Jobs Salary Distribution in Argentina

Median and salary distribution monthly Argentina Insurance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance salaries in Argentina range from 16,800 ARS per month (minimum average salary) to 87,400 ARS per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 45,300 ARS per month, which means that half (50%) of people working in Insurance are earning less than 45,300 ARS while the other half are earning more than 45,300 ARS. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Insurance are earning less than 27,900 ARS while 75% of them are earning more than 27,900 ARS. Also from the diagram, 75% of people working in Insurance are earning less than 66,300 ARS while 25% are earning more than 66,300 ARS.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Argentina costs anywhere from 226,000 Argentine Peso(s) to 677,000 Argentine Peso(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Insurance Salary Comparison By Gender

Salary comparison by gender monthly Argentina Insurance
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Argentina who work in Insurance earn 5% more than their female counterparts on average.

Male
46,300 ARS
Female-5%
44,100 ARS
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Argentina for all Careers

Salary comparison by gender monthly Argentina
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Insurance Average Annual Salary Increment Percentage in Argentina

How much are annual salary increments in Argentina for Insurance professionals? How often do employees get salary raises?

Insurance

Insurance professionals in Argentina are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Argentina Insurance
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Argentina / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Argentina is 6%.

Annual Increment Rate By Industry 2019

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Listed above are the average annual increase rates for each industry in Argentina for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Insurance Bonus and Incentive Rates in Argentina

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Argentina Insurance
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Insurance is considered to be a moderate bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

49% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 51% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
51%
No Bonus
49%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Insurance Hourly Average Wage in Argentina


260 ARS per hour

The average hourly wage (pay per hour) in Argentina is 260 ARS. This means that the average person in Argentina earns approximately 260 ARS for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Insurance VS Other Jobs

Salary Comparison Between Insurance and Insurance monthly Argentina
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The average salary for Insurance is 0% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Avellaneda45,700 ARS
Bahia Blanca48,600 ARS
Buenos Aires52,200 ARS
Cordoba51,700 ARS
Corrientes49,000 ARS
La Plata50,900 ARS
Lanus46,300 ARS
Mar del Plata50,600 ARS
Mendoza44,700 ARS
Neuquen47,000 ARS
Quilmes46,700 ARS
Resistencia47,900 ARS
Rosario51,300 ARS
Salta49,700 ARS
San Juan44,500 ARS
San Miguel de Tucuman50,000 ARS
Santa Fe49,200 ARS
Santiago del Estero47,500 ARS

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Argentina earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
43,600 ARS
Public Sector+7%
46,400 ARS
Percentage increase and decrease are relative to the previous value

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