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Insurance Appraiser Average Salary in Peru 2020

How much money does an Insurance Appraiser make in Peru?


Average Monthly Salary
7,280 PEN
( 87,300 PEN yearly)

LOW
3,490
PEN
AVERAGE
7,280
PEN
HIGH
11,400
PEN

A person working as an Insurance Appraiser in Peru typically earns around 7,280 PEN per month. Salaries range from 3,490 PEN (lowest) to 11,400 PEN (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 Peru

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

  • Salary Range

    Insurance Appraiser salaries in Peru range from 3,490 PEN per month (minimum salary) to 11,400 PEN per month (maximum salary).

  • Median Salary

    The median salary is 7,570 PEN per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 7,570 PEN while the other half are earning more than 7,570 PEN. 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 4,980 PEN while 75% of them are earning more than 4,980 PEN. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 9,880 PEN while 25% are earning more than 9,880 PEN.


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 Peru 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 4,090 PEN per month.

While someone with an experience level between two and five years is expected to earn 5,790 PEN per month, 42% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 7,620 PEN per month, 31% 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 9,360 PEN per month, 23% 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 9,960 PEN per month, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 10,900 PEN per month, 10% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Peru

0 - 2 Years
4,090 PEN
2 - 5 Years+42%
5,790 PEN
5 - 10 Years+31%
7,620 PEN
10 - 15 Years+23%
9,360 PEN
15 - 20 Years+6%
9,960 PEN
20+ Years+10%
10,900 PEN
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 Peru 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 5,480 PEN per month.

While someone with a Bachelor's Degree gets a salary of 10,400 PEN per month, 90% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Peru

Certificate or Diploma
5,480 PEN
Bachelor's Degree+90%
10,400 PEN
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 Peru 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 Peru earn 7% more than their female counterparts on average.

Male
7,570 PEN
Female-6%
7,100 PEN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Peru for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Peru are likely to observe a salary increase of approximately 12% every 17 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Peru 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.

Peru / 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 Peru is 6%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

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

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

70% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 30% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
30%
No Bonus
70%

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 Peru


42 PEN per hour

The average hourly wage (pay per hour) in Peru is 42 PEN. This means that the average Insurance Appraiser in Peru earns approximately 42 PEN 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 Peru
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The average salary for Insurance Appraiser is 4% 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 Analyst10,100 PEN+39%
Actuarial Assistant6,900 PEN-5%
Actuary9,900 PEN+36%
Adjustment Insurance Clerk2,610 PEN-64%
Assistant Broker4,680 PEN-36%
Assistant Claims Manager7,740 PEN+6%
Associate Insurance Representative3,970 PEN-45%
Auditing Insurance Manager11,200 PEN+54%
Broker7,050 PEN-3%
Claim Advocacy Professional7,570 PEN+4%
Claims Adjuster2,720 PEN-63%
Claims Analyst3,700 PEN-49%
Claims Examiner3,970 PEN-45%
Claims Manager10,500 PEN+44%
Claims Processor2,670 PEN-63%
Claims Representative3,140 PEN-57%
Claims Resolution Specialist7,900 PEN+9%
Claims Supervisor7,630 PEN+5%
Complaints Specialist7,060 PEN-3%
Compliance Officer5,720 PEN-21%
Consultant7,630 PEN+5%
Eligibility Specialist7,500 PEN+3%
Insurance Account Manager8,710 PEN+20%
Insurance Accounts Executive7,900 PEN+9%
Insurance Agent4,400 PEN-40%
Insurance Analyst7,100 PEN-2%
Insurance Appraiser7,280 PEN+0%
Insurance Claims Clerk2,610 PEN-64%
Insurance Examiner6,920 PEN-5%
Insurance Investigator6,900 PEN-5%
Insurance Manager12,500 PEN+72%
Insurance Operations Manager12,300 PEN+69%
Insurance Policy Processing Clerk2,640 PEN-64%
Insurance Pricing Assistant5,600 PEN-23%
Insurance Program Manager9,290 PEN+28%
Insurance Project Manager9,720 PEN+34%
Insurance Quality Assurance Agent6,380 PEN-12%
Insurance Sales Agent4,530 PEN-38%
Insurance Sales Director12,000 PEN+65%
Insurance Team Leader7,870 PEN+8%
Insurance Underwriter5,610 PEN-23%
Loss Control Specialist7,220 PEN-1%
Loss Prevention Investigator7,550 PEN+4%
Loss Prevention Manager10,200 PEN+40%
Loss Prevention Specialist8,040 PEN+10%
Marine Underwriter5,720 PEN-21%
Medical Auditor7,400 PEN+2%
Monitoring and Performance Officer5,230 PEN-28%
Payment Services Specialist7,280 PEN+0%
Policy Change Director11,000 PEN+51%
Policy Change Supervisor8,130 PEN+12%
Policy Change Technician3,540 PEN-51%
Risk Analyst8,500 PEN+17%
Risk Management Director14,300 PEN+97%
Risk Management Supervisor8,960 PEN+23%
Risk Manager14,300 PEN+97%
Risk Modeling Manager13,900 PEN+91%
Title Insurance Typist6,580 PEN-10%
Training Manager8,160 PEN+12%

Salary Comparison By City

CityAverage Salary
Arequipa8,160 PEN
Chiclayo7,690 PEN
Cusco6,860 PEN
Huancayo7,060 PEN
Iquitos6,910 PEN
Lima7,990 PEN
Trujillo7,540 PEN

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 Peru earn 9% more than their private sector counterparts on average across all sectors.

Private Sector
7,250 PEN
Public Sector+9%
7,890 PEN
Percentage increase and decrease are relative to the previous value

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