A person working as an Insurance Appraiser in Lesotho typically earns around 12,500 LSL per month. Salaries range from 6,130 LSL (lowest) to 19,500 LSL (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 Lesotho range from 6,130 LSL per month (minimum salary) to 19,500 LSL per month (maximum salary).
The median salary is 12,800 LSL per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 12,800 LSL while the other half are earning more than 12,800 LSL. 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 8,500 LSL while 75% of them are earning more than 8,500 LSL. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 16,500 LSL while 25% are earning more than 16,500 LSL.
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 7,270 LSL per month.
While someone with an experience level between two and five years is expected to earn 9,350 LSL per month, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 12,900 LSL per month, 38% 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 16,000 LSL per month, 24% 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 17,100 LSL per month, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 18,300 LSL per month, 7% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+29%|
|5 - 10 Years||+38%|
|10 - 15 Years||+24%|
|15 - 20 Years||+7%|
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 10,300 LSL per month.
While someone with a Bachelor's Degree gets a salary of 15,800 LSL per month, 53% 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 Lesotho earn 11% more than their female counterparts on average.
Insurance Appraiser(s) in Lesotho are likely to observe a salary increase of approximately 8% every 29 months. The national average annual increment for all professions combined is 5% granted to employees every 28 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 Lesotho 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.
87% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 13% 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.
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 6% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||15,700 LSL||+25%|
|Actuarial Assistant||11,300 LSL||-10%|
|Adjustment Insurance Clerk||4,280 LSL||-66%|
|Assistant Broker||7,270 LSL||-42%|
|Assistant Claims Manager||12,700 LSL||+1%|
|Associate Insurance Representative||6,490 LSL||-48%|
|Auditing Insurance Manager||17,500 LSL||+40%|
|Claim Advocacy Professional||11,800 LSL||-6%|
|Claims Adjuster||4,460 LSL||-64%|
|Claims Analyst||6,360 LSL||-49%|
|Claims Examiner||6,490 LSL||-48%|
|Claims Manager||16,200 LSL||+29%|
|Claims Processor||4,370 LSL||-65%|
|Claims Representative||5,130 LSL||-59%|
|Claims Resolution Specialist||12,900 LSL||+3%|
|Claims Supervisor||11,900 LSL||-5%|
|Complaints Specialist||11,000 LSL||-12%|
|Compliance Officer||9,850 LSL||-21%|
|Eligibility Specialist||12,300 LSL||-2%|
|Insurance Account Manager||15,000 LSL||+20%|
|Insurance Accounts Executive||12,900 LSL||+3%|
|Insurance Agent||6,840 LSL||-45%|
|Insurance Analyst||12,200 LSL||-3%|
|Insurance Appraiser||12,500 LSL||-0%|
|Insurance Claims Clerk||4,280 LSL||-66%|
|Insurance Examiner||10,800 LSL||-14%|
|Insurance Investigator||11,300 LSL||-10%|
|Insurance Manager||20,500 LSL||+64%|
|Insurance Operations Manager||20,100 LSL||+61%|
|Insurance Policy Processing Clerk||4,550 LSL||-64%|
|Insurance Pricing Assistant||9,640 LSL||-23%|
|Insurance Program Manager||16,000 LSL||+28%|
|Insurance Project Manager||15,100 LSL||+21%|
|Insurance Quality Assurance Agent||9,920 LSL||-21%|
|Insurance Sales Agent||7,420 LSL||-41%|
|Insurance Sales Director||19,600 LSL||+57%|
|Insurance Team Leader||12,900 LSL||+3%|
|Insurance Underwriter||8,730 LSL||-30%|
|Loss Control Specialist||11,800 LSL||-6%|
|Loss Prevention Investigator||13,000 LSL||+4%|
|Loss Prevention Manager||16,800 LSL||+34%|
|Loss Prevention Specialist||12,500 LSL||-0%|
|Marine Underwriter||8,910 LSL||-29%|
|Medical Auditor||12,100 LSL||-3%|
|Monitoring and Performance Officer||8,120 LSL||-35%|
|Payment Services Specialist||12,500 LSL||-0%|
|Policy Change Director||18,000 LSL||+44%|
|Policy Change Supervisor||12,700 LSL||+1%|
|Policy Change Technician||5,790 LSL||-54%|
|Risk Analyst||13,900 LSL||+11%|
|Risk Management Director||22,200 LSL||+77%|
|Risk Management Supervisor||14,700 LSL||+17%|
|Risk Manager||22,300 LSL||+78%|
|Risk Modeling Manager||22,700 LSL||+81%|
|Title Insurance Typist||10,200 LSL||-18%|
|Training Manager||12,700 LSL||+1%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Lesotho earn 14% more than their private sector counterparts on average across all sectors.