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 salaries in Peru range from 3,490 PEN per month (minimum salary) to 11,400 PEN per month (maximum 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.
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.
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 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.
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.
|0 - 2 Years|
|2 - 5 Years||+42%|
|5 - 10 Years||+31%|
|10 - 15 Years||+23%|
|15 - 20 Years||+6%|
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.
|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 Peru earn 7% more than their female counterparts on average.
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.
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 Peru 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.
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.
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 4% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||10,100 PEN||+39%|
|Actuarial Assistant||6,900 PEN||-5%|
|Adjustment Insurance Clerk||2,610 PEN||-64%|
|Assistant Broker||4,680 PEN||-36%|
|Assistant Claims Manager||7,740 PEN||+6%|
|Associate Insurance Representative||3,970 PEN||-45%|
|Auditing Insurance Manager||11,200 PEN||+54%|
|Claim Advocacy Professional||7,570 PEN||+4%|
|Claims Adjuster||2,720 PEN||-63%|
|Claims Analyst||3,700 PEN||-49%|
|Claims Examiner||3,970 PEN||-45%|
|Claims Manager||10,500 PEN||+44%|
|Claims Processor||2,670 PEN||-63%|
|Claims Representative||3,140 PEN||-57%|
|Claims Resolution Specialist||7,900 PEN||+9%|
|Claims Supervisor||7,630 PEN||+5%|
|Complaints Specialist||7,060 PEN||-3%|
|Compliance Officer||5,720 PEN||-21%|
|Eligibility Specialist||7,500 PEN||+3%|
|Insurance Account Manager||8,710 PEN||+20%|
|Insurance Accounts Executive||7,900 PEN||+9%|
|Insurance Agent||4,400 PEN||-40%|
|Insurance Analyst||7,100 PEN||-2%|
|Insurance Appraiser||7,280 PEN||+0%|
|Insurance Claims Clerk||2,610 PEN||-64%|
|Insurance Examiner||6,920 PEN||-5%|
|Insurance Investigator||6,900 PEN||-5%|
|Insurance Manager||12,500 PEN||+72%|
|Insurance Operations Manager||12,300 PEN||+69%|
|Insurance Policy Processing Clerk||2,640 PEN||-64%|
|Insurance Pricing Assistant||5,600 PEN||-23%|
|Insurance Program Manager||9,290 PEN||+28%|
|Insurance Project Manager||9,720 PEN||+34%|
|Insurance Quality Assurance Agent||6,380 PEN||-12%|
|Insurance Sales Agent||4,530 PEN||-38%|
|Insurance Sales Director||12,000 PEN||+65%|
|Insurance Team Leader||7,870 PEN||+8%|
|Insurance Underwriter||5,610 PEN||-23%|
|Loss Control Specialist||7,220 PEN||-1%|
|Loss Prevention Investigator||7,550 PEN||+4%|
|Loss Prevention Manager||10,200 PEN||+40%|
|Loss Prevention Specialist||8,040 PEN||+10%|
|Marine Underwriter||5,720 PEN||-21%|
|Medical Auditor||7,400 PEN||+2%|
|Monitoring and Performance Officer||5,230 PEN||-28%|
|Payment Services Specialist||7,280 PEN||+0%|
|Policy Change Director||11,000 PEN||+51%|
|Policy Change Supervisor||8,130 PEN||+12%|
|Policy Change Technician||3,540 PEN||-51%|
|Risk Analyst||8,500 PEN||+17%|
|Risk Management Director||14,300 PEN||+97%|
|Risk Management Supervisor||8,960 PEN||+23%|
|Risk Manager||14,300 PEN||+97%|
|Risk Modeling Manager||13,900 PEN||+91%|
|Title Insurance Typist||6,580 PEN||-10%|
|Training Manager||8,160 PEN||+12%|
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.