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Insurance Appraiser Average Salary in Mexico 2020

How much money does an Insurance Appraiser make in Mexico?


Average Monthly Salary
32,400 MXN
( 389,000 MXN yearly)

LOW
15,200
MXN
AVERAGE
32,400
MXN
HIGH
51,200
MXN

A person working as an Insurance Appraiser in Mexico typically earns around 32,400 MXN per month. Salaries range from 15,200 MXN (lowest) to 51,200 MXN (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 Mexico

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

  • Salary Range

    Insurance Appraiser salaries in Mexico range from 15,200 MXN per month (minimum salary) to 51,200 MXN per month (maximum salary).

  • Median Salary

    The median salary is 34,400 MXN per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 34,400 MXN while the other half are earning more than 34,400 MXN. 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 22,300 MXN while 75% of them are earning more than 22,300 MXN. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 45,400 MXN while 25% are earning more than 45,400 MXN.


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 Mexico 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 17,600 MXN per month.

While someone with an experience level between two and five years is expected to earn 24,200 MXN 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 34,500 MXN 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 42,100 MXN 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 44,400 MXN 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 48,400 MXN per month, 9% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Mexico

0 - 2 Years
17,600 MXN
2 - 5 Years+38%
24,200 MXN
5 - 10 Years+42%
34,500 MXN
10 - 15 Years+22%
42,100 MXN
15 - 20 Years+6%
44,400 MXN
20+ Years+9%
48,400 MXN
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 Mexico 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 22,100 MXN per month.

While someone with a Bachelor's Degree gets a salary of 42,200 MXN per month, 91% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Mexico

Certificate or Diploma
22,100 MXN
Bachelor's Degree+91%
42,200 MXN
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 Mexico 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 Mexico earn 12% more than their female counterparts on average.

Male
34,500 MXN
Female-11%
30,800 MXN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Mexico for all Careers

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

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

Insurance Appraiser

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

Annual Salary Increment Rate Mexico 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.

Mexico / 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 Mexico is 5%.

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 Mexico 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 Mexico

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


190 MXN per hour

The average hourly wage (pay per hour) in Mexico is 190 MXN. This means that the average Insurance Appraiser in Mexico earns approximately 190 MXN 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 Mexico
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The average salary for Insurance Appraiser is 3% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst46,300 MXN+43%
Actuarial Assistant30,700 MXN-5%
Actuary44,800 MXN+38%
Adjustment Insurance Clerk12,400 MXN-62%
Assistant Broker20,300 MXN-37%
Assistant Claims Manager35,300 MXN+9%
Associate Insurance Representative17,600 MXN-46%
Auditing Insurance Manager51,500 MXN+59%
Broker35,100 MXN+8%
Claim Advocacy Professional33,700 MXN+4%
Claims Adjuster12,100 MXN-63%
Claims Analyst17,600 MXN-46%
Claims Examiner18,300 MXN-44%
Claims Manager46,800 MXN+44%
Claims Processor12,800 MXN-61%
Claims Representative15,500 MXN-52%
Claims Resolution Specialist37,600 MXN+16%
Claims Supervisor32,100 MXN-1%
Complaints Specialist31,500 MXN-3%
Compliance Officer25,900 MXN-20%
Consultant33,400 MXN+3%
Eligibility Specialist33,800 MXN+4%
Insurance Account Manager39,900 MXN+23%
Insurance Accounts Executive36,900 MXN+14%
Insurance Agent20,900 MXN-36%
Insurance Analyst34,300 MXN+6%
Insurance Appraiser32,400 MXN-0%
Insurance Claims Clerk12,500 MXN-61%
Insurance Examiner32,000 MXN-1%
Insurance Investigator31,000 MXN-4%
Insurance Manager57,000 MXN+76%
Insurance Operations Manager58,300 MXN+80%
Insurance Policy Processing Clerk12,700 MXN-61%
Insurance Pricing Assistant26,400 MXN-19%
Insurance Program Manager43,000 MXN+33%
Insurance Project Manager42,600 MXN+31%
Insurance Quality Assurance Agent28,600 MXN-12%
Insurance Sales Agent19,100 MXN-41%
Insurance Sales Director53,200 MXN+64%
Insurance Team Leader36,500 MXN+13%
Insurance Underwriter25,000 MXN-23%
Loss Control Specialist31,600 MXN-3%
Loss Prevention Investigator35,400 MXN+9%
Loss Prevention Manager46,600 MXN+44%
Loss Prevention Specialist35,400 MXN+9%
Marine Underwriter24,100 MXN-26%
Medical Auditor33,600 MXN+4%
Monitoring and Performance Officer24,300 MXN-25%
Payment Services Specialist34,100 MXN+5%
Policy Change Director51,500 MXN+59%
Policy Change Supervisor36,900 MXN+14%
Policy Change Technician15,600 MXN-52%
Risk Analyst38,900 MXN+20%
Risk Management Director63,400 MXN+95%
Risk Management Supervisor42,600 MXN+31%
Risk Manager59,600 MXN+84%
Risk Modeling Manager62,000 MXN+91%
Title Insurance Typist27,400 MXN-16%
Training Manager35,400 MXN+9%

Salary Comparison By City

CityAverage Salary
Acapulco42,600 MXN
Acuna31,400 MXN
Aguascalientes43,800 MXN
Boca del Rio27,900 MXN
Buenavista31,900 MXN
Campeche32,600 MXN
Cancun42,000 MXN
Celaya37,000 MXN
Chalco30,900 MXN
Chetumal28,600 MXN
Chicoloapan31,500 MXN
Chihuahua42,600 MXN
Chilpancingo30,900 MXN
Chimalhuacan39,600 MXN
Cholula de Rivadabia32,400 MXN
Ciudad Apodaca37,500 MXN
Ciudad del Carmen31,400 MXN
Ciudad Juarez29,600 MXN
Ciudad Lopez Mateos40,000 MXN
Ciudad Obregon34,300 MXN
Ciudad Santa Catarina35,000 MXN
Ciudad Valles26,700 MXN
Ciudad Victoria35,800 MXN
Coacalco33,700 MXN
Coatzacoalcos33,100 MXN
Colima28,900 MXN
Cordoba29,000 MXN
Cuautitlan Izcalli40,100 MXN
Cuautla28,400 MXN
Cuernavaca36,800 MXN
Culiacan43,900 MXN
Delicias27,600 MXN
Durango40,200 MXN
Ecatepec de Morelos44,400 MXN
Ensenada33,600 MXN
Fresnillo27,400 MXN
General Escobedo35,400 MXN
Gomez Palacio32,800 MXN
Guadalajara41,800 MXN
Guadalupe40,800 MXN
Guaymas26,500 MXN
Hermosillo43,300 MXN
Hidalgo del Parral24,800 MXN
Iguala27,300 MXN
Irapuato38,200 MXN
Ixtapaluca36,200 MXN
Jiutepec31,000 MXN
La Paz32,400 MXN
Leon43,400 MXN
Los Mochis34,400 MXN
Los Reyes la Paz35,800 MXN
Manzanillo26,600 MXN
Matamoros39,100 MXN
Mazatlan37,900 MXN
Merida39,800 MXN
Metepec33,200 MXN
Mexicali41,000 MXN
Mexico City42,200 MXN
Minatitlan25,300 MXN
Monclova33,900 MXN
Monterrey41,000 MXN
Morelia39,500 MXN
Naucalpan40,200 MXN
Navojoa24,900 MXN
Nezahualcoyotl40,600 MXN
Nogales33,000 MXN
Nuevo Laredo36,000 MXN
Oaxaca32,200 MXN
Ojo de Agua32,500 MXN
Orizaba27,100 MXN
Pachuca34,000 MXN
Piedras Negras28,300 MXN
Playa del Carmen28,800 MXN
Poza Rica30,300 MXN
Puebla43,900 MXN
Puerto Vallarta33,000 MXN
Queretaro39,700 MXN
Reynosa40,800 MXN
Salamanca29,000 MXN
Saltillo41,200 MXN
San Cristobal de las Casas31,500 MXN
San Juan del Rio27,100 MXN
San Luis Potosi43,200 MXN
San Luis Rio Colorado30,400 MXN
San Nicolas de los Garza37,400 MXN
San Pablo de las Salinas30,500 MXN
San Pedro Garza Garcia27,100 MXN
Soledad de Graciano Sanchez35,000 MXN
Tampico34,200 MXN
Tapachula31,100 MXN
Tehuacan31,800 MXN
Tepic36,600 MXN
Tijuana41,400 MXN
Tlalnepantla de Baz40,400 MXN
Tlaquepaque39,000 MXN
Toluca37,700 MXN
Tonala36,500 MXN
Torreon41,300 MXN
Tuxtla Gutierrez38,500 MXN
Uruapan34,200 MXN
Veracruz36,900 MXN
Villa Nicolas Romero34,900 MXN
Villahermosa35,600 MXN
Xalapa38,700 MXN
Xico35,200 MXN
Zacatecas26,500 MXN
Zamora de Hidalgo28,600 MXN
Zapopan43,000 MXN

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

Private Sector
31,900 MXN
Public Sector+9%
34,600 MXN
Percentage increase and decrease are relative to the previous value

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