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Insurance Appraiser Average Salary in Malaysia 2020

How much money does an Insurance Appraiser make in Malaysia?


Average Monthly Salary
6,890 MYR
( 82,600 MYR yearly)

LOW
3,240
MYR
AVERAGE
6,890
MYR
HIGH
10,900
MYR

A person working as an Insurance Appraiser in Malaysia typically earns around 6,890 MYR per month. Salaries range from 3,240 MYR (lowest) to 10,900 MYR (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 Malaysia

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

  • Salary Range

    Insurance Appraiser salaries in Malaysia range from 3,240 MYR per month (minimum salary) to 10,900 MYR per month (maximum salary).

  • Median Salary

    The median salary is 7,300 MYR per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 7,300 MYR while the other half are earning more than 7,300 MYR. 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 4,740 MYR while 75% of them are earning more than 4,740 MYR. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 9,630 MYR while 25% are earning more than 9,630 MYR.


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 Malaysia 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 3,730 MYR per month.

While someone with an experience level between two and five years is expected to earn 5,150 MYR per month, 38% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 7,320 MYR 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 8,930 MYR per month, 22% 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 9,430 MYR per month, 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 10,300 MYR per month, 9% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Malaysia

0 - 2 Years
3,730 MYR
2 - 5 Years+38%
5,150 MYR
5 - 10 Years+42%
7,320 MYR
10 - 15 Years+22%
8,930 MYR
15 - 20 Years+6%
9,430 MYR
20+ Years+9%
10,300 MYR
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 Malaysia 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 4,690 MYR per month.

While someone with a Bachelor's Degree gets a salary of 8,970 MYR per month, 91% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Malaysia

Certificate or Diploma
4,690 MYR
Bachelor's Degree+91%
8,970 MYR
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 Malaysia 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 Malaysia earn 10% more than their female counterparts on average.

Male
7,230 MYR
Female-9%
6,600 MYR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Malaysia for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Malaysia are likely to observe a salary increase of approximately 12% every 18 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Malaysia 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.

Malaysia / 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 Malaysia is 6%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Malaysia 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 Malaysia

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

68% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 32% 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
32%
No Bonus
68%

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 Malaysia


40 MYR per hour

The average hourly wage (pay per hour) in Malaysia is 40 MYR. This means that the average Insurance Appraiser in Malaysia earns approximately 40 MYR 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 Malaysia
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The average salary for Insurance Appraiser is 4% 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 Analyst8,820 MYR+28%
Actuarial Assistant6,400 MYR-7%
Actuary9,000 MYR+31%
Adjustment Insurance Clerk2,380 MYR-65%
Assistant Broker4,250 MYR-38%
Assistant Claims Manager7,470 MYR+8%
Associate Insurance Representative3,400 MYR-51%
Auditing Insurance Manager9,800 MYR+42%
Broker6,410 MYR-7%
Claim Advocacy Professional6,620 MYR-4%
Claims Adjuster2,530 MYR-63%
Claims Analyst3,640 MYR-47%
Claims Examiner3,400 MYR-51%
Claims Manager9,500 MYR+38%
Claims Processor2,580 MYR-63%
Claims Representative2,850 MYR-59%
Claims Resolution Specialist7,320 MYR+6%
Claims Supervisor6,400 MYR-7%
Complaints Specialist5,920 MYR-14%
Compliance Officer5,630 MYR-18%
Consultant6,400 MYR-7%
Eligibility Specialist6,680 MYR-3%
Insurance Account Manager8,580 MYR+25%
Insurance Accounts Executive7,320 MYR+6%
Insurance Agent4,000 MYR-42%
Insurance Analyst6,710 MYR-3%
Insurance Appraiser6,890 MYR+0%
Insurance Claims Clerk2,380 MYR-65%
Insurance Examiner6,040 MYR-12%
Insurance Investigator6,400 MYR-7%
Insurance Manager11,400 MYR+66%
Insurance Operations Manager11,800 MYR+71%
Insurance Policy Processing Clerk2,600 MYR-62%
Insurance Pricing Assistant5,510 MYR-20%
Insurance Program Manager9,150 MYR+33%
Insurance Project Manager8,160 MYR+19%
Insurance Quality Assurance Agent5,800 MYR-16%
Insurance Sales Agent3,880 MYR-44%
Insurance Sales Director11,100 MYR+61%
Insurance Team Leader7,010 MYR+2%
Insurance Underwriter4,900 MYR-29%
Loss Control Specialist6,440 MYR-6%
Loss Prevention Investigator7,140 MYR+4%
Loss Prevention Manager9,310 MYR+35%
Loss Prevention Specialist7,020 MYR+2%
Marine Underwriter4,800 MYR-30%
Medical Auditor6,730 MYR-2%
Monitoring and Performance Officer4,750 MYR-31%
Payment Services Specialist6,890 MYR+0%
Policy Change Director9,980 MYR+45%
Policy Change Supervisor7,110 MYR+3%
Policy Change Technician3,280 MYR-52%
Risk Analyst7,280 MYR+6%
Risk Management Director13,000 MYR+89%
Risk Management Supervisor8,650 MYR+26%
Risk Manager12,000 MYR+74%
Risk Modeling Manager12,400 MYR+80%
Title Insurance Typist5,520 MYR-20%
Training Manager7,420 MYR+8%

Salary Comparison By City

CityAverage Salary
Ampang6,090 MYR
Ipoh7,510 MYR
Johor Bahru7,110 MYR
Klang6,240 MYR
Kota Kinabalu6,590 MYR
Kuala Lumpur7,310 MYR
Kuching6,480 MYR
Petaling Jaya7,340 MYR
Shah Alam7,220 MYR
Subang Jaya6,700 MYR

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 Malaysia earn 9% more than their private sector counterparts on average across all sectors.

Private Sector
6,310 MYR
Public Sector+9%
6,880 MYR
Percentage increase and decrease are relative to the previous value

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