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Insurance Appraiser Average Salary in Lesotho 2020

How much money does an Insurance Appraiser make in Lesotho?


Average Monthly Salary
12,500 LSL
( 150,000 LSL yearly)

LOW
6,130
LSL
AVERAGE
12,500
LSL
HIGH
19,500
LSL

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 Salary Distribution in Lesotho

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

  • Salary Range

    Insurance Appraiser salaries in Lesotho range from 6,130 LSL per month (minimum salary) to 19,500 LSL per month (maximum salary).

  • Median 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.

  • 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 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.


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 Lesotho 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 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.

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 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.


Insurance Appraiser average salary change by experience in Lesotho

0 - 2 Years
7,270 LSL
2 - 5 Years+29%
9,350 LSL
5 - 10 Years+38%
12,900 LSL
10 - 15 Years+24%
16,000 LSL
15 - 20 Years+7%
17,100 LSL
20+ Years+7%
18,300 LSL
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 Lesotho 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 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.


Insurance Appraiser average salary difference by education level in Lesotho

Certificate or Diploma
10,300 LSL
Bachelor's Degree+53%
15,800 LSL
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 Lesotho 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 Lesotho earn 11% more than their female counterparts on average.

Male
13,000 LSL
Female-10%
11,700 LSL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Lesotho for all Careers

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

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

Insurance Appraiser

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.

Annual Salary Increment Rate Lesotho 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.

Lesotho / 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 Lesotho is 2%.

Annual Increment Rate By Industry 2019

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

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.


Worldwide Salary Raises: All Countries and All Jobs

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Insurance Appraiser Bonus and Incentive Rates in Lesotho

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Lesotho 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.

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.

Received Bonus
13%
No Bonus
87%

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 Appraiser Average Hourly Wage in Lesotho


72 LSL per hour

The average hourly wage (pay per hour) in Lesotho is 72 LSL. This means that the average Insurance Appraiser in Lesotho earns approximately 72 LSL 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 Lesotho
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The average salary for Insurance Appraiser is 6% 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 Analyst15,700 LSL+25%
Actuarial Assistant11,300 LSL-10%
Actuary15,400 LSL+23%
Adjustment Insurance Clerk4,280 LSL-66%
Assistant Broker7,270 LSL-42%
Assistant Claims Manager12,700 LSL+1%
Associate Insurance Representative6,490 LSL-48%
Auditing Insurance Manager17,500 LSL+40%
Broker11,500 LSL-8%
Claim Advocacy Professional11,800 LSL-6%
Claims Adjuster4,460 LSL-64%
Claims Analyst6,360 LSL-49%
Claims Examiner6,490 LSL-48%
Claims Manager16,200 LSL+29%
Claims Processor4,370 LSL-65%
Claims Representative5,130 LSL-59%
Claims Resolution Specialist12,900 LSL+3%
Claims Supervisor11,900 LSL-5%
Complaints Specialist11,000 LSL-12%
Compliance Officer9,850 LSL-21%
Consultant11,900 LSL-5%
Eligibility Specialist12,300 LSL-2%
Insurance Account Manager15,000 LSL+20%
Insurance Accounts Executive12,900 LSL+3%
Insurance Agent6,840 LSL-45%
Insurance Analyst12,200 LSL-3%
Insurance Appraiser12,500 LSL-0%
Insurance Claims Clerk4,280 LSL-66%
Insurance Examiner10,800 LSL-14%
Insurance Investigator11,300 LSL-10%
Insurance Manager20,500 LSL+64%
Insurance Operations Manager20,100 LSL+61%
Insurance Policy Processing Clerk4,550 LSL-64%
Insurance Pricing Assistant9,640 LSL-23%
Insurance Program Manager16,000 LSL+28%
Insurance Project Manager15,100 LSL+21%
Insurance Quality Assurance Agent9,920 LSL-21%
Insurance Sales Agent7,420 LSL-41%
Insurance Sales Director19,600 LSL+57%
Insurance Team Leader12,900 LSL+3%
Insurance Underwriter8,730 LSL-30%
Loss Control Specialist11,800 LSL-6%
Loss Prevention Investigator13,000 LSL+4%
Loss Prevention Manager16,800 LSL+34%
Loss Prevention Specialist12,500 LSL-0%
Marine Underwriter8,910 LSL-29%
Medical Auditor12,100 LSL-3%
Monitoring and Performance Officer8,120 LSL-35%
Payment Services Specialist12,500 LSL-0%
Policy Change Director18,000 LSL+44%
Policy Change Supervisor12,700 LSL+1%
Policy Change Technician5,790 LSL-54%
Risk Analyst13,900 LSL+11%
Risk Management Director22,200 LSL+77%
Risk Management Supervisor14,700 LSL+17%
Risk Manager22,300 LSL+78%
Risk Modeling Manager22,700 LSL+81%
Title Insurance Typist10,200 LSL-18%
Training Manager12,700 LSL+1%

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 Lesotho earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
11,100 LSL
Public Sector+14%
12,700 LSL
Percentage increase and decrease are relative to the previous value

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