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Insurance Appraiser Average Salary in Latvia 2021

How much money does an Insurance Appraiser make in Latvia?

Average Monthly Salary
1,390 LVL
( 16,700 LVL yearly)


A person working as an Insurance Appraiser in Latvia typically earns around 1,390 LVL per month. Salaries range from 740 LVL (lowest) to 2,120 LVL (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 Salary Distribution in Latvia

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

  • Salary Range

    Insurance Appraiser salaries in Latvia range from 740 LVL per month (minimum salary) to 2,120 LVL per month (maximum salary).

  • Median Salary

    The median salary is 1,310 LVL per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 1,310 LVL while the other half are earning more than 1,310 LVL. 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 Insurance Appraiser(s) are earning less than 920 LVL while 75% of them are earning more than 920 LVL. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 1,610 LVL while 25% are earning more than 1,610 LVL.

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

Insurance Appraiser Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Latvia Insurance Appraiser
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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 850 LVL per month.

While someone with an experience level between two and five years is expected to earn 1,040 LVL 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 1,480 LVL per month, 42% more than someone with two to five 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.

Additionally, Insurance Appraiser(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 1,730 LVL 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 1,900 LVL 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 2,010 LVL per month, 6% more than people with fifteen to twenty years of experience.

Insurance Appraiser average salary change by experience in Latvia

0 - 2 Years
850 LVL
2 - 5 Years+23%
1,040 LVL
5 - 10 Years+42%
1,480 LVL
10 - 15 Years+17%
1,730 LVL
15 - 20 Years+10%
1,900 LVL
20+ Years+6%
2,010 LVL
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Insurance Appraiser Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Insurance Appraiser(s) who have the same experience but different education levels.

Salary comparison by education level monthly Latvia Insurance Appraiser
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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 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 1,120 LVL per month.

While someone with a Bachelor's Degree gets a salary of 1,650 LVL per month, 47% more than someone having a Certificate or Diploma degree.

Insurance Appraiser average salary difference by education level in Latvia

Certificate or Diploma
1,120 LVL
Bachelor's Degree+47%
1,650 LVL
Percentage increase and decrease are relative to the previous value

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Insurance Appraiser Salary Comparison By Gender

Salary comparison by gender monthly Latvia Insurance Appraiser
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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 Insurance Appraiser employees in Latvia earn 6% more than their female counterparts on average.

1,430 LVL
1,350 LVL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Latvia for all Careers

Salary comparison by gender monthly Latvia
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Insurance Appraiser Average Annual Salary Increment Percentage in Latvia

How much are annual salary increments in Latvia for Insurance Appraiser(s)? How often do employees get salary raises?

Insurance Appraiser

Insurance Appraiser(s) in Latvia are likely to observe a salary increase of approximately 11% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Latvia Insurance Appraiser
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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.

Latvia / 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 Latvia is 5%.

Annual Increment Rate By Industry 2020

Information Technology

Listed above are the average annual increase rates for each industry in Latvia for the year 2020. 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 Appraiser Bonus and Incentive Rates in Latvia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Latvia Insurance Appraiser
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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.

75% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 25% 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.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Appraiser Average Hourly Wage in Latvia

8 LVL per hour

The average hourly wage (pay per hour) in Latvia is 8 LVL. This means that the average Insurance Appraiser in Latvia earns approximately 8 LVL 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 Appraiser VS Other Jobs

Salary Comparison Between Insurance Appraiser and Insurance monthly Latvia
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The average salary for Insurance Appraiser is 7% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst1,890 LVL+36%
Actuarial Assistant1,220 LVL-12%
Actuary1,870 LVL+34%
Adjustment Insurance Clerk520 LVL-63%
Assistant Broker820 LVL-41%
Assistant Claims Manager1,510 LVL+8%
Associate Insurance Representative720 LVL-48%
Auditing Insurance Manager2,100 LVL+51%
Broker1,390 LVL-0%
Claim Advocacy Professional1,330 LVL-5%
Claims Adjuster480 LVL-66%
Claims Analyst690 LVL-50%
Claims Examiner700 LVL-50%
Claims Manager1,940 LVL+39%
Claims Processor520 LVL-63%
Claims Representative610 LVL-56%
Claims Resolution Specialist1,460 LVL+5%
Claims Supervisor1,270 LVL-9%
Complaints Specialist1,200 LVL-14%
Compliance Officer1,070 LVL-23%
Consultant1,380 LVL-1%
Eligibility Specialist1,310 LVL-6%
Insurance Account Manager1,660 LVL+19%
Insurance Accounts Executive1,400 LVL+1%
Insurance Agent830 LVL-40%
Insurance Analyst1,310 LVL-6%
Insurance Appraiser1,390 LVL-0%
Insurance Claims Clerk480 LVL-66%
Insurance Examiner1,190 LVL-15%
Insurance Investigator1,250 LVL-10%
Insurance Manager2,280 LVL+64%
Insurance Operations Manager2,340 LVL+68%
Insurance Policy Processing Clerk500 LVL-64%
Insurance Pricing Assistant1,020 LVL-27%
Insurance Program Manager1,800 LVL+29%
Insurance Project Manager1,760 LVL+26%
Insurance Quality Assurance Agent1,180 LVL-15%
Insurance Sales Agent820 LVL-41%
Insurance Sales Director2,130 LVL+53%
Insurance Team Leader1,460 LVL+5%
Insurance Underwriter990 LVL-29%
Loss Control Specialist1,320 LVL-5%
Loss Prevention Investigator1,440 LVL+3%
Loss Prevention Manager1,860 LVL+34%
Loss Prevention Specialist1,390 LVL-0%
Marine Underwriter960 LVL-31%
Medical Auditor1,350 LVL-3%
Monitoring and Performance Officer950 LVL-32%
Payment Services Specialist1,390 LVL-0%
Policy Change Director2,120 LVL+52%
Policy Change Supervisor1,490 LVL+7%
Policy Change Technician680 LVL-51%
Risk Analyst1,470 LVL+6%
Risk Management Director2,600 LVL+87%
Risk Management Supervisor1,710 LVL+23%
Risk Manager2,590 LVL+86%
Risk Modeling Manager2,390 LVL+72%
Title Insurance Typist1,190 LVL-15%
Training Manager1,420 LVL+2%

Salary Comparison By City

CityAverage Salary
Riga1,560 LVL

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 Latvia earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
1,250 LVL
Public Sector+7%
1,340 LVL
Percentage increase and decrease are relative to the previous value
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