A person working as Insurance Appraiser in Mexico typically earns around 32,400 MXN. Salaries range from 15,200 MXN (lowest) to 51,200 MXN (highest).
This is the average salary including housing, transport, and other benefits. Insurance Appraiser salaries in Mexico vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Minimum Salary 15,200 MXN |
Median 30,800 MXN |
Maximum 51,200 MXN |
Salaries for the position Insurance Appraiser in Mexico range from 15,200 MXN (starting salary) to 51,200 MXN (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
With a median salary of 30,800 MXN, half of the professionals who work as Insurance Appraiser in Mexico earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Insurance Appraiser in Mexico earn less than 24,900 MXN, while 75% earn more. Similarly, the chart shows that 75% earn less than 35,300 MXN while 25% earn more.
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Insurance Appraiser in Mexico compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 18,700 MXN to 26,800 MXN. About 20% of salaries are below the 18,700 MXN mark, while 10% fall within the range of 26,800 MXN to 30,500 MXN. Only 5% of individuals have salaries exceeding 30,500 MXN.
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 |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Insurance Appraiser and this is what we found.
Employees with less than two years of experience earn approximately 17,600 MXN.
While someone with an experience level between two and five years is expected to earn 24,200 MXN, 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, 42% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 42,100 MXN, 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, 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, 9% more than people with fifteen to twenty years of experience.
Certificate or Diploma | 22,100 MXN | |
Bachelor's Degree | +91% | 42,200 MXN |
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 salaries by education level for the position Insurance Appraiser in order to make a comparison.
Employees at this education level have an average salary of 22,100 MXN.
At this level, the average salary becomes 42,200 MXN, 91% more than the previous level.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Insurance Appraiser in Mexico, the average difference between the salary of male and female employees is 12%.
Male | 34,500 MXN | |
Female | -11% | 30,800 MXN |
Individuals working as Insurance Appraiser 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 rare 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
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
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% |
The most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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. |
Example: | Example: |
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 fixed 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 minimum pay rate per hour for people working as Insurance Appraiser in Mexico is 88 MXN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Job Title | Average Salary |
Insurance | -100% | |
Actuarial Analyst | 46,300 MXN | +43% |
Actuarial Assistant | 30,700 MXN | -5% |
Actuarial Specialist | 32,300 MXN | -0% |
Actuary | 44,800 MXN | +38% |
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% |
Blockchain Insurance Auditor | 30,100 MXN | -7% |
Broker | 35,100 MXN | +8% |
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 Examiner | 31,800 MXN | -2% |
Compliance Officer | 25,900 MXN | -20% |
Compliance Reviewer | 32,600 MXN | +1% |
Consultant | 33,400 MXN | +3% |
Drone Claims Adjuster | 15,700 MXN | -52% |
Eligibility Interviewer | 35,700 MXN | +10% |
Eligibility Specialist | 33,800 MXN | +4% |
Insurance Account Manager | 39,900 MXN | +23% |
Insurance Accounts Executive | 36,900 MXN | +14% |
Insurance Adjuster | 30,700 MXN | -5% |
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 Compliance Officer | 37,700 MXN | +16% |
Insurance Data Scientist | 32,000 MXN | -1% |
Insurance Examiner | 32,000 MXN | -1% |
Insurance Fraud Investigator | 27,200 MXN | -16% |
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 Product Manager | 39,900 MXN | +23% |
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 Sales Manager | 45,100 MXN | +39% |
Insurance Sales Representative | 17,400 MXN | -46% |
Insurance Team Leader | 36,500 MXN | +13% |
Insurance Underwriter | 25,000 MXN | -23% |
Insurtech Analyst | 32,500 MXN | +0% |
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% |
Parametric Insurance Specialist | 32,300 MXN | -0% |
Payment Services Specialist | 34,100 MXN | +5% |
Peer-to-Peer Insurance Manager | 42,000 MXN | +29% |
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% |
Social Media Risk Analyst | 34,700 MXN | +7% |
Title Insurance Typist | 27,400 MXN | -16% |
Training Manager | 35,400 MXN | +9% |
Underwriting Assistant | 16,400 MXN | -49% |
City | Average Salary |
Cancun | 42,000 MXN |
Guadalajara | 41,800 MXN |
Mexico City | 42,200 MXN |
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Mexico is 9% on average across all career fields.
Private Sector | 32,000 MXN | |
Public Sector | +9% | 34,800 MXN |
A good and competitive compensation would range anywhere between 30,800 MXN and 35,300 MXN. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
The base salary for a careers like Insurance Appraiser in Mexico ranges from 15,200 MXN to 24,900 MXN. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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
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