A person working in Insurance in Morocco typically earns around 19,500 MAD per month. Salaries range from 7,220 MAD (lowest average) to 37,500 MAD (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Job Title | Average Salary |
Actuarial Analyst | 25,000 MAD |
Actuarial Assistant | 18,400 MAD |
Actuary | 25,600 MAD |
Adjustment Insurance Clerk | 7,320 MAD |
Assistant Broker | 12,600 MAD |
Assistant Claims Manager | 20,700 MAD |
Associate Insurance Representative | 10,500 MAD |
Auditing Insurance Manager | 27,700 MAD |
Broker | 19,800 MAD |
Claim Advocacy Professional | 20,300 MAD |
Claims Adjuster | 7,260 MAD |
Claims Analyst | 10,600 MAD |
Claims Examiner | 10,100 MAD |
Claims Manager | 28,700 MAD |
Claims Processor | 7,150 MAD |
Claims Representative | 8,440 MAD |
Claims Resolution Specialist | 20,600 MAD |
Claims Supervisor | 20,000 MAD |
Complaints Specialist | 17,400 MAD |
Compliance Officer | 16,500 MAD |
Consultant | 19,200 MAD |
Eligibility Specialist | 19,100 MAD |
Insurance Account Manager | 23,600 MAD |
Insurance Accounts Executive | 21,100 MAD |
Insurance Agent | 11,400 MAD |
Insurance Analyst | 19,500 MAD |
Insurance Appraiser | 19,700 MAD |
Insurance Claims Clerk | 6,890 MAD |
Insurance Examiner | 17,800 MAD |
Insurance Investigator | 19,100 MAD |
Insurance Manager | 33,100 MAD |
Insurance Operations Manager | 34,900 MAD |
Insurance Policy Processing Clerk | 7,160 MAD |
Insurance Pricing Assistant | 15,500 MAD |
Insurance Program Manager | 26,200 MAD |
Insurance Project Manager | 24,500 MAD |
Insurance Quality Assurance Agent | 17,500 MAD |
Insurance Sales Agent | 12,000 MAD |
Insurance Sales Director | 32,000 MAD |
Insurance Team Leader | 20,500 MAD |
Insurance Underwriter | 15,000 MAD |
Loss Control Specialist | 18,100 MAD |
Loss Prevention Investigator | 20,400 MAD |
Loss Prevention Manager | 27,000 MAD |
Loss Prevention Specialist | 20,700 MAD |
Marine Underwriter | 15,000 MAD |
Medical Auditor | 19,500 MAD |
Monitoring and Performance Officer | 13,800 MAD |
Payment Services Specialist | 19,700 MAD |
Policy Change Director | 29,500 MAD |
Policy Change Supervisor | 21,400 MAD |
Policy Change Technician | 9,070 MAD |
Risk Analyst | 20,700 MAD |
Risk Management Director | 37,700 MAD |
Risk Management Supervisor | 25,500 MAD |
Risk Manager | 36,000 MAD |
Risk Modeling Manager | 37,600 MAD |
Title Insurance Typist | 16,500 MAD |
Training Manager | 21,900 MAD |
Insurance salaries in Morocco range from 7,220 MAD per month (minimum average salary) to 37,500 MAD per month (maximum average salary, actual maximum is higher).
The median salary is 17,900 MAD per month, which means that half (50%) of people working in Insurance are earning less than 17,900 MAD while the other half are earning more than 17,900 MAD. 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 people working in Insurance are earning less than 11,300 MAD while 75% of them are earning more than 11,300 MAD. Also from the diagram, 75% of people working in Insurance are earning less than 25,500 MAD while 25% are earning more than 25,500 MAD.
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 the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
A Master's degree program or any post-graduate program in Morocco costs anywhere from 97,100 Moroccan Dirham(s) to 291,000 Moroccan Dirham(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Morocco who work in Insurance earn 9% more than their female counterparts on average.
Male | 20,200 MAD | |
Female | -8% | 18,500 MAD |
Insurance professionals in Morocco are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 17 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
Banking | 2% | |
Energy | 4% | |
Information Technology | 6% | |
Healthcare | 8% | |
Travel | 1% | |
Construction | 3% | |
Education | 5% |
Listed above are the average annual increase rates for each industry in Morocco for the year 2020. 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.
Insurance is considered to be a moderate bonus-based field 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.
52% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 48% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.
Received Bonus | 48% | |
No Bonus | 52% |
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 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 is 0% more than that of All Jobs.
City | Average Salary |
Agadir | 17,200 MAD |
Casablanca | 21,200 MAD |
Marrakech | 19,800 MAD |
Rabat | 18,800 MAD |
Tangier | 20,800 MAD |
Where can you get paid more, working for a private company or for the government? Public sector employees in Morocco earn 8% more than their private sector counterparts on average across all sectors.
Private Sector | 18,500 MAD | |
Public Sector | +8% | 20,100 MAD |