A person working as an Insurance Appraiser in India typically earns around 32,100 INR per month. Salaries range from 17,000 INR (lowest) to 48,700 INR (highest).
This is the average monthly salary including housing, transport, and other benefits. Insurance Appraiser salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Insurance Appraiser salaries in India range from 17,000 INR per month (minimum salary) to 48,700 INR per month (maximum salary).
The median salary is 30,100 INR per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 30,100 INR while the other half are earning more than 30,100 INR. 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.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Insurance Appraiser(s) are earning less than 21,200 INR while 75% of them are earning more than 21,200 INR. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 37,100 INR while 25% are earning more than 37,100 INR.
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
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Insurance Appraiser salaries by experience level and this is what we found.
An Insurance Appraiser with less than two years of experience makes approximately 19,500 INR per month.
While someone with an experience level between two and five years is expected to earn 24,000 INR per month, 23% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 34,000 INR per month, 42% more than someone with two to five years of experience.
Additionally, Insurance Appraiser(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 39,700 INR per month, 17% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 43,700 INR per month, 10% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 46,200 INR per month, 6% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+23%|
|5 - 10 Years||+42%|
|10 - 15 Years||+17%|
|15 - 20 Years||+10%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Insurance Appraiser salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of an Insurance Appraiser is 25,900 INR per month.
While someone with a Bachelor's Degree gets a salary of 37,900 INR per month, 47% more than someone having a Certificate or Diploma degree.
|Certificate or Diploma|
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Insurance Appraiser employees in India earn 15% more than their female counterparts on average.
Insurance Appraiser(s) in India are likely to observe a salary increase of approximately 12% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.
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.
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
Listed above are the average annual increase rates for each industry in India 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.
An Insurance Appraiser is considered to be a low bonus-based job 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.
73% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 27% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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.
The average salary for Insurance Appraiser is 0% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||42,800 INR||+33%|
|Actuarial Assistant||30,100 INR||-6%|
|Adjustment Insurance Clerk||11,900 INR||-63%|
|Assistant Broker||20,200 INR||-37%|
|Assistant Claims Manager||34,400 INR||+7%|
|Associate Insurance Representative||16,600 INR||-48%|
|Auditing Insurance Manager||47,500 INR||+48%|
|Claim Advocacy Professional||32,100 INR||+0%|
|Claims Adjuster||11,900 INR||-63%|
|Claims Analyst||16,600 INR||-48%|
|Claims Examiner||16,600 INR||-48%|
|Claims Manager||45,100 INR||+41%|
|Claims Processor||11,900 INR||-63%|
|Claims Representative||14,300 INR||-55%|
|Claims Resolution Specialist||34,400 INR||+7%|
|Claims Supervisor||31,700 INR||-1%|
|Complaints Specialist||29,300 INR||-9%|
|Compliance Officer||25,700 INR||-20%|
|Eligibility Specialist||32,100 INR||+0%|
|Insurance Account Manager||39,200 INR||+22%|
|Insurance Accounts Executive||34,400 INR||+7%|
|Insurance Agent||19,000 INR||-41%|
|Insurance Analyst||31,300 INR||-2%|
|Insurance Appraiser||32,100 INR||+0%|
|Insurance Claims Clerk||11,900 INR||-63%|
|Insurance Examiner||29,300 INR||-9%|
|Insurance Investigator||30,100 INR||-6%|
|Insurance Manager||57,000 INR||+78%|
|Insurance Operations Manager||54,600 INR||+70%|
|Insurance Policy Processing Clerk||11,900 INR||-63%|
|Insurance Pricing Assistant||25,200 INR||-21%|
|Insurance Program Manager||41,800 INR||+30%|
|Insurance Project Manager||40,400 INR||+26%|
|Insurance Quality Assurance Agent||27,600 INR||-14%|
|Insurance Sales Agent||19,000 INR||-41%|
|Insurance Sales Director||52,300 INR||+63%|
|Insurance Team Leader||33,600 INR||+5%|
|Insurance Underwriter||23,800 INR||-26%|
|Loss Control Specialist||30,900 INR||-4%|
|Loss Prevention Investigator||33,300 INR||+4%|
|Loss Prevention Manager||46,600 INR||+45%|
|Loss Prevention Specialist||34,000 INR||+6%|
|Marine Underwriter||23,800 INR||-26%|
|Medical Auditor||33,600 INR||+5%|
|Monitoring and Performance Officer||22,600 INR||-30%|
|Payment Services Specialist||32,100 INR||+0%|
|Policy Change Director||49,900 INR||+56%|
|Policy Change Supervisor||34,400 INR||+7%|
|Policy Change Technician||15,400 INR||-52%|
|Risk Analyst||35,600 INR||+11%|
|Risk Management Director||61,800 INR||+93%|
|Risk Management Supervisor||39,900 INR||+24%|
|Risk Manager||59,400 INR||+85%|
|Risk Modeling Manager||59,400 INR||+85%|
|Title Insurance Typist||27,300 INR||-15%|
|Training Manager||35,200 INR||+10%|
|Andaman & Nicobar Islands||28,500 INR|
|Andhra Pradesh||34,900 INR|
|Arunachal Pradesh||30,900 INR|
|Dadra & Nagar Haveli||27,200 INR|
|Daman & Diu||28,000 INR|
|Himachal Pradesh||30,600 INR|
|Jammu & Kashmir||32,900 INR|
|Madhya Pradesh||39,700 INR|
|Tamil Nadu||36,700 INR|
|Uttar Pradesh||40,500 INR|
|West Bengal||37,500 INR|
Where can you get paid more, working for a private company or for the government? Public sector employees in India earn 5% more than their private sector counterparts on average across all sectors.