Insurance Average Salaries in Malaysia 2019
How much money does a person working in Insurance make in Malaysia?
7,837 MYR per month Average Monthly Salary
A person working in Insurance in Malaysia typically earns around 7,837 MYR per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different Insurance jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Salaries for specific jobs
| Job Title | Average Salary |
| Actuarial Analyst | 9,392 MYR |
| Actuarial Assistant | 7,584 MYR |
| Actuary | 9,387 MYR |
| Adjustment Insurance Clerk | 5,069 MYR |
| Assistant Broker | 7,114 MYR |
| Assistant Claims Manager | 8,854 MYR |
| Associate Insurance Representative | 6,038 MYR |
| Auditing Insurance Manager | 11,619 MYR |
| Broker | 7,603 MYR |
| Claim Advocacy Professional | 7,843 MYR |
| Claims Adjuster | 5,589 MYR |
| Claims Analyst | 6,268 MYR |
| Claims Examiner | 5,942 MYR |
| Claims Manager | 9,485 MYR |
| Claims Processor | 6,005 MYR |
| Claims Representative | 5,632 MYR |
| Claims Resolution Specialist | 8,682 MYR |
| Claims Supervisor | 7,588 MYR |
| Complaints Specialist | 7,019 MYR |
| Compliance Officer | 6,680 MYR |
| Consultant | 7,588 MYR |
| Eligibility Specialist | 7,923 MYR |
| Insurance Account Manager | 9,042 MYR |
| Insurance Accounts Executive | 8,682 MYR |
| Insurance Agent | 6,719 MYR |
| Insurance Analyst | 7,961 MYR |
| Insurance Appraiser | 8,163 MYR |
| Insurance Claims Clerk | 5,350 MYR |
| Insurance Examiner | 7,166 MYR |
| Insurance Investigator | 7,584 MYR |
| Insurance Manager | 10,325 MYR |
| Insurance Operations Manager | 10,482 MYR |
| Insurance Policy Processing Clerk | 5,959 MYR |
| Insurance Pricing Assistant | 7,296 MYR |
| Insurance Program Manager | 9,762 MYR |
| Insurance Project Manager | 8,727 MYR |
| Insurance Quality Assurance Agent | 7,212 MYR |
| Insurance Sales Agent | 6,038 MYR |
| Insurance Sales Director | 9,780 MYR |
| Insurance Team Leader | 8,314 MYR |
| Insurance Underwriter | 6,487 MYR |
| Loss Control Specialist | 7,630 MYR |
| Loss Prevention Investigator | 8,465 MYR |
| Loss Prevention Manager | 9,011 MYR |
| Loss Prevention Specialist | 8,328 MYR |
| Marine Underwriter | 7,398 MYR |
| Medical Auditor | 7,978 MYR |
| Monitoring and Performance Officer | 6,619 MYR |
| Payment Services Specialist | 8,163 MYR |
| Policy Change Director | 9,481 MYR |
| Policy Change Supervisor | 8,424 MYR |
| Policy Change Technician | 6,487 MYR |
| Risk Analyst | 8,433 MYR |
| Risk Management Director | 11,462 MYR |
| Risk Management Supervisor | 9,260 MYR |
| Risk Manager | 10,244 MYR |
| Risk Modeling Manager | 10,467 MYR |
| Title Insurance Typist | 6,545 MYR |
| Training Manager | 8,794 MYR |
Insurance Jobs Salary Distribution in Malaysia
Abount These Figures: Salary Range, Median and Percentiles
The Insurance salaries in Malaysia range between 5,229 MYR per month (minimum salary) to 11,619 MYR per month (maximum salary).The median salary is 7,602 MYR per month, which means that half (50%) of people working in Insurance are earning less than 7,602 MYR while the other half are earning more than 7,602 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.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Insurance are earning less than 5,774 MYR while 75% of them are earning more than 5,774 MYR. Also from the diagram, 75% of people working in Insurance are earning less than 9,034 MYR while 25% are earning more than 9,034 MYR.
What is the difference between the median and the average salary? What should you be looking at?
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 plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salaryInsurance Salary Forecast and Trend in Malaysia
How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2016 | = | 7,279 MYR |
| Average Salary 2017 |  +4% | 7,548 MYR |
| Average Salary 2018 | +2% | 7,669 MYR |
| Average Salary 2019 | +2% | 7,837 MYR |
Percentage increase and decrease are relative to the previous value
Insurance salaries in Malaysia are rising in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.Insurance Hourly Average Wage in Malaysia
45 MYR per hour Average Hourly Wage
The average hourly wage (pay per hour) in Malaysia for Insurance is 45 MYR. This means that the average person in Malaysia earns approximatly 45 MYR for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
The hourly wage is the salary paid in one working 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 annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.
Insurance VS Other Jobs
We compared Malaysia salaries for Insurance and All Jobs and we found that Insurance salaries are 0% less than those of All Jobs.Salary Comparison By City
| City | Average Salary |
| Ampang | 7,130 MYR |
| Ipoh | 8,378 MYR |
| Johor Bahru | 7,896 MYR |
| Klang | 7,269 MYR |
| Kota Kinabalu | 7,781 MYR |
| Kuala Lumpur | 8,489 MYR |
| Kuching | 7,610 MYR |
| Petaling Jaya | 8,257 MYR |
| Shah Alam | 8,084 MYR |
| Subang Jaya | 7,416 MYR |
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