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Auditing Insurance Manager Average Salary in Namibia 2024

How much money does a person working as Auditing Insurance Manager make in Namibia?


Average Monthly Salary
27,000 NAD
( 324,000 NAD yearly)

LOW
14,600
NAD
AVERAGE
27,000
NAD
HIGH
40,800
NAD
All salary figures displayed here are per month except when noted otherwise.
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.

A person working as Auditing Insurance Manager in Namibia typically earns around 27,000 NAD. Salaries range from 14,600 NAD (lowest) to 40,800 NAD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Auditing Insurance Manager salaries in Namibia vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Auditing Insurance Manager Pay Scale and Salaries in Namibia

Median and salary distribution Namibia Auditing Insurance Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
24,100 NAD or more
10% of people earn
21,500 to 24,100 NAD
20% of people earn
16,000 NAD or less
65% of people earn
16,000 to 21,500 NAD
Minimum Salary
14,600 NAD
Median
24,100 NAD
Maximum
40,800 NAD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Auditing Insurance Manager in Namibia range from 14,600 NAD (starting salary) to 40,800 NAD (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.

  • Median Salary

    With a median salary of 24,100 NAD, half of the professionals who work as Auditing Insurance Manager in Namibia 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.

  • Percentiles and Salary Scale

    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 Auditing Insurance Manager in Namibia earn less than 20,200 NAD, while 75% earn more. Similarly, the chart shows that 75% earn less than 27,200 NAD while 25% earn more.

  • Pay Scale Structure

    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 Auditing Insurance Manager in Namibia compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 16,000 NAD to 21,500 NAD. About 20% of salaries are below the 16,000 NAD mark, while 10% fall within the range of 21,500 NAD to 24,100 NAD. Only 5% of individuals have salaries exceeding 24,100 NAD.

Salary Comparison by Years of Experience / Auditing Insurance Manager / Namibia

How do experience and age affect pay?

0 - 2 Years
16,900 NAD
2 - 5 Years+26%
21,400 NAD
5 - 10 Years+32%
28,200 NAD
10 - 15 Years+18%
33,200 NAD
15 - 20 Years+11%
36,700 NAD
20+ Years+6%
39,100 NAD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Namibia Auditing Insurance Manager
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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 Auditing Insurance Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 16,900 NAD.

While someone with an experience level between two and five years is expected to earn 21,400 NAD, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 28,200 NAD, 32% 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 33,200 NAD, 18% 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 36,700 NAD, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 39,100 NAD, 6% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Auditing Insurance Manager / Namibia

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Auditing Insurance Manager.

Bachelor's Degree
21,900 NAD
Master's Degree+53%
33,400 NAD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Namibia Auditing Insurance Manager
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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 salaries by education level for the position Auditing Insurance Manager in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 21,900 NAD.


Level 2: Master's Degree

At this level, the average salary becomes 33,400 NAD, 53% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Namibia costs anywhere from 87,600 NAD to 263,000 NAD 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Auditing Insurance Manager / Namibia

Salary comparison by gender Namibia Auditing Insurance Manager monthly
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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? For the people who work as Auditing Insurance Manager in Namibia, the average difference between the salary of male and female employees is 6%.

Male
27,700 NAD
Female-6%
26,100 NAD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Namibia for all Careers

Salary comparison by gender monthly Namibia
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Average Annual Salary Increment Percentage / Auditing Insurance Manager / Namibia

How much are annual salary increments in Namibia for individuals working as Auditing Insurance Manager? How often do employees get salary raises?

Individuals working as Auditing Insurance Manager in Namibia are likely to observe a salary increase of approximately 8% every 30 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Namibia Auditing Insurance Manager
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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.

Namibia / All Professions

Annual Salary Increment Rate Namibia
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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.

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 Namibia is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

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.



Bonus and Incentive Rates / Auditing Insurance Manager / Namibia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Namibia Auditing Insurance Manager
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41% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 59% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
59%
No Bonus
41%

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.

Average Hourly Wage / Auditing Insurance Manager / Namibia


160 NAD per hour

The average hourly wage (pay per hour) for individuals working as Auditing Insurance Manager in Namibia is 160 NAD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Auditing Insurance Manager in Namibia is 84 NAD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Insurance-100%
Actuarial Analyst24,300 NAD-10%
Actuarial Assistant16,300 NAD-40%
Actuarial Specialist17,300 NAD-36%
Actuary24,400 NAD-10%
Adjustment Insurance Clerk6,430 NAD-76%
Assistant Broker11,100 NAD-59%
Assistant Claims Manager19,500 NAD-28%
Associate Insurance Representative9,510 NAD-65%
Auditing Insurance Manager27,000 NAD=
Blockchain Insurance Auditor15,500 NAD-43%
Broker18,200 NAD-33%
Claim Advocacy Professional17,700 NAD-34%
Claims Adjuster6,420 NAD-76%
Claims Analyst9,430 NAD-65%
Claims Examiner8,970 NAD-67%
Claims Manager25,600 NAD-5%
Claims Processor6,390 NAD-76%
Claims Representative8,030 NAD-70%
Claims Resolution Specialist18,000 NAD-33%
Claims Supervisor17,900 NAD-34%
Complaints Specialist15,900 NAD-41%
Compliance Examiner16,000 NAD-41%
Compliance Officer13,900 NAD-49%
Compliance Reviewer16,600 NAD-39%
Consultant16,900 NAD-37%
Drone Claims Adjuster7,830 NAD-71%
Eligibility Interviewer19,300 NAD-29%
Eligibility Specialist17,200 NAD-36%
Insurance Account Manager21,400 NAD-21%
Insurance Accounts Executive19,600 NAD-27%
Insurance Adjuster15,800 NAD-41%
Insurance Agent10,300 NAD-62%
Insurance Analyst17,600 NAD-35%
Insurance Appraiser16,700 NAD-38%
Insurance Claims Clerk6,500 NAD-76%
Insurance Compliance Officer19,200 NAD-29%
Insurance Data Scientist16,500 NAD-39%
Insurance Examiner16,800 NAD-38%
Insurance Fraud Investigator14,100 NAD-48%
Insurance Investigator16,400 NAD-39%
Insurance Manager29,600 NAD+10%
Insurance Operations Manager29,100 NAD+8%
Insurance Policy Processing Clerk6,800 NAD-75%
Insurance Pricing Assistant14,100 NAD-48%
Insurance Product Manager20,900 NAD-23%
Insurance Program Manager23,000 NAD-15%
Insurance Project Manager21,500 NAD-20%
Insurance Quality Assurance Agent15,600 NAD-42%
Insurance Sales Agent10,400 NAD-61%
Insurance Sales Director28,200 NAD+4%
Insurance Sales Manager23,200 NAD-14%
Insurance Sales Representative9,510 NAD-65%
Insurance Team Leader18,600 NAD-31%
Insurance Underwriter13,100 NAD-51%
Insurtech Analyst15,600 NAD-42%
Loss Control Specialist16,100 NAD-40%
Loss Prevention Investigator18,200 NAD-33%
Loss Prevention Manager24,200 NAD-10%
Loss Prevention Specialist18,600 NAD-31%
Marine Underwriter13,400 NAD-50%
Medical Auditor17,500 NAD-35%
Monitoring and Performance Officer12,000 NAD-56%
Parametric Insurance Specialist17,800 NAD-34%
Payment Services Specialist17,600 NAD-35%
Peer-to-Peer Insurance Manager20,400 NAD-24%
Policy Change Director26,700 NAD-1%
Policy Change Supervisor19,400 NAD-28%
Policy Change Technician8,260 NAD-69%
Risk Analyst19,000 NAD-30%
Risk Management Director34,600 NAD+28%
Risk Management Supervisor21,300 NAD-21%
Risk Manager33,200 NAD+23%
Risk Modeling Manager31,600 NAD+17%
Social Media Risk Analyst17,700 NAD-34%
Title Insurance Typist15,300 NAD-43%
Training Manager19,400 NAD-28%
Underwriting Assistant9,130 NAD-66%

Government vs Private Sector Salary Comparison

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 Namibia is 7% on average across all career fields.

Private Sector
16,800 NAD
Public Sector+7%
18,000 NAD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Auditing Insurance Manager in Namibia?

A good and competitive compensation would range anywhere between 24,100 NAD and 27,200 NAD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

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.

Base / Basic Salary

The base salary for a careers like Auditing Insurance Manager in Namibia ranges from 14,600 NAD to 20,200 NAD. 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.


What is the difference between the median and the average salary?

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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