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 salaries in Monaco range from 2,160 EUR per month (minimum salary) to 6,700 EUR per month (maximum 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.
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.
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 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.
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.
|0 - 2 Years|
|2 - 5 Years||+32%|
|5 - 10 Years||+34%|
|10 - 15 Years||+19%|
|15 - 20 Years||+8%|
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.
|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 Monaco earn 6% more than their female counterparts on average.
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.
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 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.
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.
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 2% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||5,680 EUR||+31%|
|Actuarial Assistant||3,860 EUR||-11%|
|Adjustment Insurance Clerk||1,730 EUR||-60%|
|Assistant Broker||2,930 EUR||-32%|
|Assistant Claims Manager||4,690 EUR||+8%|
|Associate Insurance Representative||2,420 EUR||-44%|
|Auditing Insurance Manager||6,280 EUR||+45%|
|Claim Advocacy Professional||4,170 EUR||-4%|
|Claims Adjuster||1,700 EUR||-61%|
|Claims Analyst||2,360 EUR||-45%|
|Claims Examiner||2,460 EUR||-43%|
|Claims Manager||5,790 EUR||+34%|
|Claims Processor||1,820 EUR||-58%|
|Claims Representative||2,060 EUR||-52%|
|Claims Resolution Specialist||4,650 EUR||+8%|
|Claims Supervisor||4,090 EUR||-5%|
|Complaints Specialist||4,120 EUR||-5%|
|Compliance Officer||3,490 EUR||-19%|
|Eligibility Specialist||4,320 EUR||-0%|
|Insurance Account Manager||5,050 EUR||+17%|
|Insurance Accounts Executive||4,370 EUR||+1%|
|Insurance Agent||2,560 EUR||-41%|
|Insurance Analyst||4,390 EUR||+2%|
|Insurance Appraiser||4,320 EUR||-0%|
|Insurance Claims Clerk||1,700 EUR||-61%|
|Insurance Examiner||3,920 EUR||-9%|
|Insurance Investigator||4,180 EUR||-3%|
|Insurance Manager||7,020 EUR||+62%|
|Insurance Operations Manager||7,390 EUR||+71%|
|Insurance Policy Processing Clerk||1,740 EUR||-60%|
|Insurance Pricing Assistant||3,490 EUR||-19%|
|Insurance Program Manager||5,260 EUR||+22%|
|Insurance Project Manager||5,240 EUR||+21%|
|Insurance Quality Assurance Agent||3,660 EUR||-15%|
|Insurance Sales Agent||2,720 EUR||-37%|
|Insurance Sales Director||6,480 EUR||+50%|
|Insurance Team Leader||4,690 EUR||+8%|
|Insurance Underwriter||3,170 EUR||-27%|
|Loss Control Specialist||4,000 EUR||-8%|
|Loss Prevention Investigator||4,470 EUR||+3%|
|Loss Prevention Manager||5,780 EUR||+34%|
|Loss Prevention Specialist||4,500 EUR||+4%|
|Marine Underwriter||3,140 EUR||-27%|
|Medical Auditor||4,260 EUR||-2%|
|Monitoring and Performance Officer||3,110 EUR||-28%|
|Payment Services Specialist||4,320 EUR||-0%|
|Policy Change Director||6,440 EUR||+49%|
|Policy Change Supervisor||4,730 EUR||+9%|
|Policy Change Technician||2,170 EUR||-50%|
|Risk Analyst||4,530 EUR||+5%|
|Risk Management Director||7,980 EUR||+85%|
|Risk Management Supervisor||5,480 EUR||+27%|
|Risk Manager||7,560 EUR||+75%|
|Risk Modeling Manager||7,880 EUR||+82%|
|Title Insurance Typist||3,640 EUR||-16%|
|Training Manager||4,870 EUR||+13%|
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.