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Insurance Appraiser Average Salary in Papua New Guinea 2020

How much money does an Insurance Appraiser make in Papua New Guinea?


Average Monthly Salary
3,980 PGK
( 47,700 PGK yearly)

LOW
2,070
PGK
AVERAGE
3,980
PGK
HIGH
6,090
PGK

A person working as an Insurance Appraiser in Papua New Guinea typically earns around 3,980 PGK per month. Salaries range from 2,070 PGK (lowest) to 6,090 PGK (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 Papua New Guinea

Median and salary distribution monthly Papua New Guinea Insurance Appraiser
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance Appraiser salaries in Papua New Guinea range from 2,070 PGK per month (minimum salary) to 6,090 PGK per month (maximum salary).

  • Median Salary

    The median salary is 3,820 PGK per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 3,820 PGK while the other half are earning more than 3,820 PGK. 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 2,650 PGK while 75% of them are earning more than 2,650 PGK. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 4,750 PGK while 25% are earning more than 4,750 PGK.


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 Papua New Guinea 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 2,350 PGK per month.

While someone with an experience level between two and five years is expected to earn 3,150 PGK per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 4,100 PGK per month, 30% 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 4,960 PGK per month, 21% 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 5,420 PGK per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 5,700 PGK per month, 5% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Papua New Guinea

0 - 2 Years
2,350 PGK
2 - 5 Years+34%
3,150 PGK
5 - 10 Years+30%
4,100 PGK
10 - 15 Years+21%
4,960 PGK
15 - 20 Years+9%
5,420 PGK
20+ Years+5%
5,700 PGK
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 Papua New Guinea 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 2,950 PGK per month.

While someone with a Bachelor's Degree gets a salary of 5,320 PGK per month, 80% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Papua New Guinea

Certificate or Diploma
2,950 PGK
Bachelor's Degree+80%
5,320 PGK
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 Papua New Guinea 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 Papua New Guinea earn 11% more than their female counterparts on average.

Male
4,220 PGK
Female-10%
3,810 PGK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Papua New Guinea for all Careers

Salary comparison by gender monthly Papua New Guinea
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Insurance Appraiser Average Annual Salary Increment Percentage in Papua New Guinea

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

Insurance Appraiser

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

Annual Salary Increment Rate Papua New Guinea 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.

Papua New Guinea / 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 Papua New Guinea is 2%.

Annual Increment Rate By Industry 2019

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Listed above are the average annual increase rates for each industry in Papua New Guinea 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 Papua New Guinea

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Papua New Guinea 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.

90% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 10% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.

Received Bonus
10%
No Bonus
90%

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 Papua New Guinea


23 PGK per hour

The average hourly wage (pay per hour) in Papua New Guinea is 23 PGK. This means that the average Insurance Appraiser in Papua New Guinea earns approximately 23 PGK 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 Papua New Guinea
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The average salary for Insurance Appraiser is 3% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst5,390 PGK+36%
Actuarial Assistant3,670 PGK-8%
Actuary5,350 PGK+35%
Adjustment Insurance Clerk1,550 PGK-61%
Assistant Broker2,580 PGK-35%
Assistant Claims Manager4,520 PGK+14%
Associate Insurance Representative2,150 PGK-46%
Auditing Insurance Manager5,990 PGK+51%
Broker4,170 PGK+5%
Claim Advocacy Professional4,200 PGK+6%
Claims Adjuster1,450 PGK-64%
Claims Analyst2,170 PGK-45%
Claims Examiner2,100 PGK-47%
Claims Manager5,530 PGK+39%
Claims Processor1,560 PGK-61%
Claims Representative1,820 PGK-54%
Claims Resolution Specialist4,380 PGK+10%
Claims Supervisor4,020 PGK+1%
Complaints Specialist3,800 PGK-4%
Compliance Officer3,360 PGK-16%
Consultant3,940 PGK-1%
Eligibility Specialist3,940 PGK-1%
Insurance Account Manager4,720 PGK+19%
Insurance Accounts Executive4,200 PGK+6%
Insurance Agent2,380 PGK-40%
Insurance Analyst4,120 PGK+4%
Insurance Appraiser3,980 PGK+0%
Insurance Claims Clerk1,430 PGK-64%
Insurance Examiner3,770 PGK-5%
Insurance Investigator3,750 PGK-6%
Insurance Manager6,840 PGK+72%
Insurance Operations Manager7,020 PGK+77%
Insurance Policy Processing Clerk1,430 PGK-64%
Insurance Pricing Assistant3,220 PGK-19%
Insurance Program Manager5,140 PGK+29%
Insurance Project Manager5,030 PGK+26%
Insurance Quality Assurance Agent3,380 PGK-15%
Insurance Sales Agent2,450 PGK-38%
Insurance Sales Director6,380 PGK+60%
Insurance Team Leader4,390 PGK+10%
Insurance Underwriter3,110 PGK-22%
Loss Control Specialist3,950 PGK-1%
Loss Prevention Investigator4,120 PGK+4%
Loss Prevention Manager5,590 PGK+41%
Loss Prevention Specialist4,380 PGK+10%
Marine Underwriter3,020 PGK-24%
Medical Auditor4,040 PGK+2%
Monitoring and Performance Officer2,710 PGK-32%
Payment Services Specialist3,980 PGK+0%
Policy Change Director6,360 PGK+60%
Policy Change Supervisor4,250 PGK+7%
Policy Change Technician2,040 PGK-49%
Risk Analyst4,420 PGK+11%
Risk Management Director7,410 PGK+86%
Risk Management Supervisor5,130 PGK+29%
Risk Manager7,400 PGK+86%
Risk Modeling Manager7,160 PGK+80%
Title Insurance Typist3,400 PGK-15%
Training Manager4,490 PGK+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 Papua New Guinea earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
3,780 PGK
Public Sector+14%
4,310 PGK
Percentage increase and decrease are relative to the previous value

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