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Insurance Appraiser Average Salary in Philippines 2020

How much money does an Insurance Appraiser make in Philippines?


Average Monthly Salary
45,100 PHP
( 542,000 PHP yearly)

LOW
20,800
PHP
AVERAGE
45,100
PHP
HIGH
71,800
PHP

A person working as an Insurance Appraiser in Philippines typically earns around 45,100 PHP per month. Salaries range from 20,800 PHP (lowest) to 71,800 PHP (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 Philippines

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

  • Salary Range

    Insurance Appraiser salaries in Philippines range from 20,800 PHP per month (minimum salary) to 71,800 PHP per month (maximum salary).

  • Median Salary

    The median salary is 48,800 PHP per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 48,800 PHP while the other half are earning more than 48,800 PHP. 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 31,300 PHP while 75% of them are earning more than 31,300 PHP. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 65,100 PHP while 25% are earning more than 65,100 PHP.


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 Philippines 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 23,600 PHP per month.

While someone with an experience level between two and five years is expected to earn 31,500 PHP 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 46,500 PHP per month, 48% 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 56,700 PHP per month, 22% 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 61,800 PHP 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 66,900 PHP per month, 8% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Philippines

0 - 2 Years
23,600 PHP
2 - 5 Years+34%
31,500 PHP
5 - 10 Years+48%
46,500 PHP
10 - 15 Years+22%
56,700 PHP
15 - 20 Years+9%
61,800 PHP
20+ Years+8%
66,900 PHP
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 Philippines 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 27,400 PHP per month.

While someone with a Bachelor's Degree gets a salary of 52,900 PHP per month, 93% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Philippines

Certificate or Diploma
27,400 PHP
Bachelor's Degree+93%
52,900 PHP
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 Philippines 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 Philippines earn 15% more than their female counterparts on average.

Male
48,200 PHP
Female-13%
42,100 PHP
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Philippines for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Philippines are likely to observe a salary increase of approximately 11% every 18 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Philippines 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.

Philippines / 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 Philippines is 5%.

Annual Increment Rate By Industry 2019

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

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

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

68% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 32% 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
32%
No Bonus
68%

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 Philippines


260 PHP per hour

The average hourly wage (pay per hour) in Philippines is 260 PHP. This means that the average Insurance Appraiser in Philippines earns approximately 260 PHP 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 Philippines
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The average salary for Insurance Appraiser is 1% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst57,400 PHP+27%
Actuarial Assistant39,200 PHP-13%
Actuary55,900 PHP+24%
Adjustment Insurance Clerk16,400 PHP-64%
Assistant Broker27,500 PHP-39%
Assistant Claims Manager46,500 PHP+3%
Associate Insurance Representative23,500 PHP-48%
Auditing Insurance Manager63,800 PHP+41%
Broker42,100 PHP-7%
Claim Advocacy Professional44,400 PHP-2%
Claims Adjuster15,500 PHP-66%
Claims Analyst23,300 PHP-48%
Claims Examiner22,600 PHP-50%
Claims Manager59,600 PHP+32%
Claims Processor16,800 PHP-63%
Claims Representative18,900 PHP-58%
Claims Resolution Specialist46,300 PHP+3%
Claims Supervisor43,600 PHP-3%
Complaints Specialist42,000 PHP-7%
Compliance Officer34,300 PHP-24%
Consultant41,900 PHP-7%
Eligibility Specialist42,900 PHP-5%
Insurance Account Manager51,600 PHP+14%
Insurance Accounts Executive47,200 PHP+5%
Insurance Agent26,100 PHP-42%
Insurance Analyst44,900 PHP-1%
Insurance Appraiser45,100 PHP-0%
Insurance Claims Clerk16,300 PHP-64%
Insurance Examiner38,900 PHP-14%
Insurance Investigator42,900 PHP-5%
Insurance Manager74,100 PHP+64%
Insurance Operations Manager78,200 PHP+73%
Insurance Policy Processing Clerk16,500 PHP-63%
Insurance Pricing Assistant35,600 PHP-21%
Insurance Program Manager54,500 PHP+21%
Insurance Project Manager53,400 PHP+18%
Insurance Quality Assurance Agent36,400 PHP-19%
Insurance Sales Agent25,600 PHP-43%
Insurance Sales Director68,100 PHP+51%
Insurance Team Leader48,200 PHP+7%
Insurance Underwriter32,900 PHP-27%
Loss Control Specialist42,600 PHP-6%
Loss Prevention Investigator44,500 PHP-1%
Loss Prevention Manager60,500 PHP+34%
Loss Prevention Specialist47,600 PHP+5%
Marine Underwriter32,700 PHP-28%
Medical Auditor43,700 PHP-3%
Monitoring and Performance Officer31,600 PHP-30%
Payment Services Specialist43,000 PHP-5%
Policy Change Director69,600 PHP+54%
Policy Change Supervisor46,700 PHP+3%
Policy Change Technician20,300 PHP-55%
Risk Analyst48,900 PHP+8%
Risk Management Director82,400 PHP+83%
Risk Management Supervisor57,100 PHP+26%
Risk Manager82,600 PHP+83%
Risk Modeling Manager80,300 PHP+78%
Title Insurance Typist38,000 PHP-16%
Training Manager48,000 PHP+6%

Salary Comparison By City

CityAverage Salary
Antipolo48,000 PHP
Cagayan de Oro43,700 PHP
Cebu49,900 PHP
Dasmarinas41,600 PHP
Davao49,100 PHP
Kalookan48,300 PHP
Las Pinas41,100 PHP
Makati42,300 PHP
Manila52,700 PHP
Paranaque45,100 PHP
Pasig44,700 PHP
Quezon City51,000 PHP
Taguig48,800 PHP
Valenzuela42,100 PHP

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 Philippines earn 12% more than their private sector counterparts on average across all sectors.

Private Sector
42,100 PHP
Public Sector+12%
47,100 PHP
Percentage increase and decrease are relative to the previous value

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