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Insurance Analyst Average Salary in Kuwait 2024

How much money does a person working as Insurance Analyst make in Kuwait?


Average Monthly Salary
1,260 KWD
( 15,200 KWD yearly)

LOW
610
KWD
AVERAGE
1,260
KWD
HIGH
1,980
KWD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Insurance Analyst in Kuwait typically earns around 1,260 KWD. Salaries range from 610 KWD (lowest) to 1,980 KWD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Insurance Analyst salaries in Kuwait vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Insurance Analyst Pay Scale and Salaries in Kuwait

Median and salary distribution Kuwait Insurance Analyst monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
1,180 KWD or more
10% of people earn
1,040 to 1,180 KWD
20% of people earn
730 KWD or less
65% of people earn
730 to 1,040 KWD
Minimum Salary
610 KWD
Median
1,190 KWD
Maximum
1,980 KWD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Insurance Analyst in Kuwait range from 610 KWD (starting salary) to 1,980 KWD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 1,190 KWD, half of the professionals who work as Insurance Analyst in Kuwait earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Insurance Analyst in Kuwait earn less than 970 KWD, while 75% earn more. Similarly, the chart shows that 75% earn less than 1,360 KWD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Insurance Analyst in Kuwait compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 730 KWD to 1,040 KWD. About 20% of salaries are below the 730 KWD mark, while 10% fall within the range of 1,040 KWD to 1,180 KWD. Only 5% of individuals have salaries exceeding 1,180 KWD.

Salary Comparison by Years of Experience / Insurance Analyst / Kuwait

How do experience and age affect pay?

0 - 2 Years
710 KWD
2 - 5 Years+42%
1,010 KWD
5 - 10 Years+32%
1,320 KWD
10 - 15 Years+23%
1,630 KWD
15 - 20 Years+6%
1,730 KWD
20+ Years+10%
1,890 KWD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Kuwait Insurance Analyst
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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. We broke down salaries by experience level for people working as Insurance Analyst and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 710 KWD.

While someone with an experience level between two and five years is expected to earn 1,010 KWD, 42% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 1,320 KWD, 32% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 1,630 KWD, 23% 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 1,730 KWD, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 1,890 KWD, 10% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Insurance Analyst / Kuwait

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Insurance Analyst.

Bachelor's Degree
1,120 KWD
Master's Degree+43%
1,600 KWD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Kuwait Insurance Analyst
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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 salaries by education level for the position Insurance Analyst in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 1,120 KWD.


Level 2: Master's Degree

At this level, the average salary becomes 1,600 KWD, 43% more than the previous level.



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 Kuwait costs anywhere from 6,350 KWD to 19,000 KWD 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Insurance Analyst / Kuwait

Salary comparison by gender Kuwait Insurance Analyst monthly
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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? For the people who work as Insurance Analyst in Kuwait, the average difference between the salary of male and female employees is 8%.

Male
1,330 KWD
Female-7%
1,230 KWD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Kuwait for all Careers

Salary comparison by gender monthly Kuwait
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Average Annual Salary Increment Percentage / Insurance Analyst / Kuwait

How much are annual salary increments in Kuwait for individuals working as Insurance Analyst? How often do employees get salary raises?

Individuals working as Insurance Analyst in Kuwait are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Kuwait Insurance Analyst
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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.

Kuwait / All Professions

Annual Salary Increment Rate Kuwait
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Kuwait is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Insurance Analyst / Kuwait

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kuwait Insurance Analyst
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86% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 14% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
14%
No Bonus
86%

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.

Average Hourly Wage / Insurance Analyst / Kuwait


7 KWD per hour

The average hourly wage (pay per hour) for individuals working as Insurance Analyst in Kuwait is 7 KWD.This is the rate they get paid for every worked hour.


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

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Insurance Analyst in Kuwait is 4 KWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Insurance-100%
Actuarial Analyst1,690 KWD+34%
Actuarial Assistant1,210 KWD-4%
Actuarial Specialist1,240 KWD-2%
Actuary1,710 KWD+35%
Adjustment Insurance Clerk460 KWD-64%
Assistant Broker810 KWD-36%
Assistant Claims Manager1,400 KWD+11%
Associate Insurance Representative690 KWD-45%
Auditing Insurance Manager1,880 KWD+49%
Blockchain Insurance Auditor1,250 KWD-1%
Broker1,320 KWD+4%
Claim Advocacy Professional1,340 KWD+6%
Claims Adjuster480 KWD-62%
Claims Analyst680 KWD-46%
Claims Examiner690 KWD-45%
Claims Manager1,900 KWD+50%
Claims Processor510 KWD-60%
Claims Representative560 KWD-56%
Claims Resolution Specialist1,460 KWD+16%
Claims Supervisor1,240 KWD-2%
Complaints Specialist1,150 KWD-9%
Compliance Examiner1,180 KWD-7%
Compliance Officer1,100 KWD-13%
Compliance Reviewer1,180 KWD-7%
Consultant1,240 KWD-2%
Drone Claims Adjuster610 KWD-52%
Eligibility Interviewer1,340 KWD+6%
Eligibility Specialist1,280 KWD+1%
Insurance Account Manager1,600 KWD+27%
Insurance Accounts Executive1,460 KWD+16%
Insurance Adjuster1,200 KWD-5%
Insurance Agent800 KWD-37%
Insurance Analyst1,260 KWD-0%
Insurance Appraiser1,300 KWD+3%
Insurance Claims Clerk490 KWD-61%
Insurance Compliance Officer1,510 KWD+19%
Insurance Data Scientist1,250 KWD-1%
Insurance Examiner1,220 KWD-3%
Insurance Fraud Investigator1,040 KWD-18%
Insurance Investigator1,270 KWD+0%
Insurance Manager2,220 KWD+76%
Insurance Operations Manager2,220 KWD+76%
Insurance Policy Processing Clerk510 KWD-60%
Insurance Pricing Assistant1,080 KWD-15%
Insurance Product Manager1,490 KWD+18%
Insurance Program Manager1,790 KWD+42%
Insurance Project Manager1,580 KWD+25%
Insurance Quality Assurance Agent1,160 KWD-8%
Insurance Sales Agent750 KWD-41%
Insurance Sales Director2,100 KWD+66%
Insurance Sales Manager1,770 KWD+40%
Insurance Sales Representative670 KWD-47%
Insurance Team Leader1,410 KWD+12%
Insurance Underwriter990 KWD-22%
Insurtech Analyst1,180 KWD-7%
Loss Control Specialist1,290 KWD+2%
Loss Prevention Investigator1,410 KWD+12%
Loss Prevention Manager1,820 KWD+44%
Loss Prevention Specialist1,350 KWD+7%
Marine Underwriter930 KWD-26%
Medical Auditor1,310 KWD+4%
Monitoring and Performance Officer950 KWD-25%
Parametric Insurance Specialist1,360 KWD+8%
Payment Services Specialist1,360 KWD+8%
Peer-to-Peer Insurance Manager1,650 KWD+31%
Policy Change Director2,050 KWD+62%
Policy Change Supervisor1,430 KWD+13%
Policy Change Technician650 KWD-49%
Risk Analyst1,400 KWD+11%
Risk Management Director2,470 KWD+95%
Risk Management Supervisor1,620 KWD+28%
Risk Manager2,450 KWD+94%
Risk Modeling Manager2,490 KWD+97%
Social Media Risk Analyst1,390 KWD+10%
Title Insurance Typist1,130 KWD-11%
Training Manager1,410 KWD+12%
Underwriting Assistant630 KWD-50%

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Kuwait is 10% on average across all career fields.

Private Sector
1,230 KWD
Public Sector+10%
1,360 KWD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Insurance Analyst in Kuwait?

A good and competitive compensation would range anywhere between 1,190 KWD and 1,360 KWD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Insurance Analyst in Kuwait ranges from 610 KWD to 970 KWD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


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

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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