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 salaries in Mexico range from 15,200 MXN per month (minimum salary) to 51,200 MXN per month (maximum 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.
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.
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 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.
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.
|0 - 2 Years|
|2 - 5 Years||+38%|
|5 - 10 Years||+42%|
|10 - 15 Years||+22%|
|15 - 20 Years||+6%|
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.
|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 Mexico earn 12% more than their female counterparts on average.
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.
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 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.
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.
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 3% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||46,300 MXN||+43%|
|Actuarial Assistant||30,700 MXN||-5%|
|Adjustment Insurance Clerk||12,400 MXN||-62%|
|Assistant Broker||20,300 MXN||-37%|
|Assistant Claims Manager||35,300 MXN||+9%|
|Associate Insurance Representative||17,600 MXN||-46%|
|Auditing Insurance Manager||51,500 MXN||+59%|
|Claim Advocacy Professional||33,700 MXN||+4%|
|Claims Adjuster||12,100 MXN||-63%|
|Claims Analyst||17,600 MXN||-46%|
|Claims Examiner||18,300 MXN||-44%|
|Claims Manager||46,800 MXN||+44%|
|Claims Processor||12,800 MXN||-61%|
|Claims Representative||15,500 MXN||-52%|
|Claims Resolution Specialist||37,600 MXN||+16%|
|Claims Supervisor||32,100 MXN||-1%|
|Complaints Specialist||31,500 MXN||-3%|
|Compliance Officer||25,900 MXN||-20%|
|Eligibility Specialist||33,800 MXN||+4%|
|Insurance Account Manager||39,900 MXN||+23%|
|Insurance Accounts Executive||36,900 MXN||+14%|
|Insurance Agent||20,900 MXN||-36%|
|Insurance Analyst||34,300 MXN||+6%|
|Insurance Appraiser||32,400 MXN||-0%|
|Insurance Claims Clerk||12,500 MXN||-61%|
|Insurance Examiner||32,000 MXN||-1%|
|Insurance Investigator||31,000 MXN||-4%|
|Insurance Manager||57,000 MXN||+76%|
|Insurance Operations Manager||58,300 MXN||+80%|
|Insurance Policy Processing Clerk||12,700 MXN||-61%|
|Insurance Pricing Assistant||26,400 MXN||-19%|
|Insurance Program Manager||43,000 MXN||+33%|
|Insurance Project Manager||42,600 MXN||+31%|
|Insurance Quality Assurance Agent||28,600 MXN||-12%|
|Insurance Sales Agent||19,100 MXN||-41%|
|Insurance Sales Director||53,200 MXN||+64%|
|Insurance Team Leader||36,500 MXN||+13%|
|Insurance Underwriter||25,000 MXN||-23%|
|Loss Control Specialist||31,600 MXN||-3%|
|Loss Prevention Investigator||35,400 MXN||+9%|
|Loss Prevention Manager||46,600 MXN||+44%|
|Loss Prevention Specialist||35,400 MXN||+9%|
|Marine Underwriter||24,100 MXN||-26%|
|Medical Auditor||33,600 MXN||+4%|
|Monitoring and Performance Officer||24,300 MXN||-25%|
|Payment Services Specialist||34,100 MXN||+5%|
|Policy Change Director||51,500 MXN||+59%|
|Policy Change Supervisor||36,900 MXN||+14%|
|Policy Change Technician||15,600 MXN||-52%|
|Risk Analyst||38,900 MXN||+20%|
|Risk Management Director||63,400 MXN||+95%|
|Risk Management Supervisor||42,600 MXN||+31%|
|Risk Manager||59,600 MXN||+84%|
|Risk Modeling Manager||62,000 MXN||+91%|
|Title Insurance Typist||27,400 MXN||-16%|
|Training Manager||35,400 MXN||+9%|
|Boca del Rio||27,900 MXN|
|Cholula de Rivadabia||32,400 MXN|
|Ciudad Apodaca||37,500 MXN|
|Ciudad del Carmen||31,400 MXN|
|Ciudad Juarez||29,600 MXN|
|Ciudad Lopez Mateos||40,000 MXN|
|Ciudad Obregon||34,300 MXN|
|Ciudad Santa Catarina||35,000 MXN|
|Ciudad Valles||26,700 MXN|
|Ciudad Victoria||35,800 MXN|
|Cuautitlan Izcalli||40,100 MXN|
|Ecatepec de Morelos||44,400 MXN|
|General Escobedo||35,400 MXN|
|Gomez Palacio||32,800 MXN|
|Hidalgo del Parral||24,800 MXN|
|La Paz||32,400 MXN|
|Los Mochis||34,400 MXN|
|Los Reyes la Paz||35,800 MXN|
|Mexico City||42,200 MXN|
|Nuevo Laredo||36,000 MXN|
|Ojo de Agua||32,500 MXN|
|Piedras Negras||28,300 MXN|
|Playa del Carmen||28,800 MXN|
|Poza Rica||30,300 MXN|
|Puerto Vallarta||33,000 MXN|
|San Cristobal de las Casas||31,500 MXN|
|San Juan del Rio||27,100 MXN|
|San Luis Potosi||43,200 MXN|
|San Luis Rio Colorado||30,400 MXN|
|San Nicolas de los Garza||37,400 MXN|
|San Pablo de las Salinas||30,500 MXN|
|San Pedro Garza Garcia||27,100 MXN|
|Soledad de Graciano Sanchez||35,000 MXN|
|Tlalnepantla de Baz||40,400 MXN|
|Tuxtla Gutierrez||38,500 MXN|
|Villa Nicolas Romero||34,900 MXN|
|Zamora de Hidalgo||28,600 MXN|
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.