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Insurance Appraiser Average Salary in Monaco 2020

How much money does an Insurance Appraiser make in Monaco?


Average Monthly Salary
4,320 EUR
( 51,900 EUR yearly)

LOW
2,160
EUR
AVERAGE
4,320
EUR
HIGH
6,700
EUR

A person working as an Insurance Appraiser in Monaco typically earns around 4,320 EUR per month. Salaries range from 2,160 EUR (lowest) to 6,700 EUR (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 Monaco

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

  • Salary Range

    Insurance Appraiser salaries in Monaco range from 2,160 EUR per month (minimum salary) to 6,700 EUR per month (maximum salary).

  • Median Salary

    The median salary is 4,330 EUR per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 4,330 EUR while the other half are earning more than 4,330 EUR. 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 2,920 EUR while 75% of them are earning more than 2,920 EUR. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 5,520 EUR while 25% are earning more than 5,520 EUR.


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 Monaco 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 2,590 EUR per month.

While someone with an experience level between two and five years is expected to earn 3,430 EUR per month, 32% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 4,590 EUR per month, 34% 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 5,480 EUR per month, 19% 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 5,910 EUR per month, 8% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 6,340 EUR per month, 7% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Monaco

0 - 2 Years
2,590 EUR
2 - 5 Years+32%
3,430 EUR
5 - 10 Years+34%
4,590 EUR
10 - 15 Years+19%
5,480 EUR
15 - 20 Years+8%
5,910 EUR
20+ Years+7%
6,340 EUR
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 Monaco 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 3,840 EUR per month.

While someone with a Bachelor's Degree gets a salary of 5,980 EUR per month, 56% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Monaco

Certificate or Diploma
3,840 EUR
Bachelor's Degree+56%
5,980 EUR
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 Monaco 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 Monaco earn 6% more than their female counterparts on average.

Male
4,440 EUR
Female-6%
4,170 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Monaco for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Monaco are likely to observe a salary increase of approximately 8% every 29 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Monaco 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.

Monaco / 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 Monaco is 2%.

Annual Increment Rate By Industry 2019

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

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

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

88% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 12% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 3% of their annual salary.

Received Bonus
12%
No Bonus
88%

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 Monaco


25 EUR per hour

The average hourly wage (pay per hour) in Monaco is 25 EUR. This means that the average Insurance Appraiser in Monaco earns approximately 25 EUR 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 Monaco
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The average salary for Insurance Appraiser is 2% 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 Analyst5,680 EUR+31%
Actuarial Assistant3,860 EUR-11%
Actuary5,390 EUR+25%
Adjustment Insurance Clerk1,730 EUR-60%
Assistant Broker2,930 EUR-32%
Assistant Claims Manager4,690 EUR+8%
Associate Insurance Representative2,420 EUR-44%
Auditing Insurance Manager6,280 EUR+45%
Broker4,160 EUR-4%
Claim Advocacy Professional4,170 EUR-4%
Claims Adjuster1,700 EUR-61%
Claims Analyst2,360 EUR-45%
Claims Examiner2,460 EUR-43%
Claims Manager5,790 EUR+34%
Claims Processor1,820 EUR-58%
Claims Representative2,060 EUR-52%
Claims Resolution Specialist4,650 EUR+8%
Claims Supervisor4,090 EUR-5%
Complaints Specialist4,120 EUR-5%
Compliance Officer3,490 EUR-19%
Consultant4,170 EUR-4%
Eligibility Specialist4,320 EUR-0%
Insurance Account Manager5,050 EUR+17%
Insurance Accounts Executive4,370 EUR+1%
Insurance Agent2,560 EUR-41%
Insurance Analyst4,390 EUR+2%
Insurance Appraiser4,320 EUR-0%
Insurance Claims Clerk1,700 EUR-61%
Insurance Examiner3,920 EUR-9%
Insurance Investigator4,180 EUR-3%
Insurance Manager7,020 EUR+62%
Insurance Operations Manager7,390 EUR+71%
Insurance Policy Processing Clerk1,740 EUR-60%
Insurance Pricing Assistant3,490 EUR-19%
Insurance Program Manager5,260 EUR+22%
Insurance Project Manager5,240 EUR+21%
Insurance Quality Assurance Agent3,660 EUR-15%
Insurance Sales Agent2,720 EUR-37%
Insurance Sales Director6,480 EUR+50%
Insurance Team Leader4,690 EUR+8%
Insurance Underwriter3,170 EUR-27%
Loss Control Specialist4,000 EUR-8%
Loss Prevention Investigator4,470 EUR+3%
Loss Prevention Manager5,780 EUR+34%
Loss Prevention Specialist4,500 EUR+4%
Marine Underwriter3,140 EUR-27%
Medical Auditor4,260 EUR-2%
Monitoring and Performance Officer3,110 EUR-28%
Payment Services Specialist4,320 EUR-0%
Policy Change Director6,440 EUR+49%
Policy Change Supervisor4,730 EUR+9%
Policy Change Technician2,170 EUR-50%
Risk Analyst4,530 EUR+5%
Risk Management Director7,980 EUR+85%
Risk Management Supervisor5,480 EUR+27%
Risk Manager7,560 EUR+75%
Risk Modeling Manager7,880 EUR+82%
Title Insurance Typist3,640 EUR-16%
Training Manager4,870 EUR+13%

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 Monaco earn 10% more than their private sector counterparts on average across all sectors.

Private Sector
4,110 EUR
Public Sector+10%
4,540 EUR
Percentage increase and decrease are relative to the previous value

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