Insurance Average Salaries in Qatar 2021
How much money does a person working in Insurance make in Qatar?
LOW
5,830
QAR AVERAGE
15,700
QAR HIGH
30,300
QAR
A person working in Insurance in Qatar typically earns around 15,700 QAR per month. Salaries range from 5,830 QAR (lowest average) to 30,300 QAR (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Salaries for specific jobs
| Job Title | Average Salary |
| Actuarial Analyst | 20,200 QAR |
| Actuarial Assistant | 13,900 QAR |
| Actuary | 21,100 QAR |
| Adjustment Insurance Clerk | 5,740 QAR |
| Assistant Broker | 9,370 QAR |
| Assistant Claims Manager | 15,900 QAR |
| Associate Insurance Representative | 7,590 QAR |
| Auditing Insurance Manager | 22,400 QAR |
| Broker | 15,500 QAR |
| Claim Advocacy Professional | 14,800 QAR |
| Claims Adjuster | 5,470 QAR |
| Claims Analyst | 8,260 QAR |
| Claims Examiner | 8,070 QAR |
| Claims Manager | 21,400 QAR |
| Claims Processor | 5,490 QAR |
| Claims Representative | 6,620 QAR |
| Claims Resolution Specialist | 17,200 QAR |
| Claims Supervisor | 15,800 QAR |
| Complaints Specialist | 13,800 QAR |
| Compliance Officer | 12,800 QAR |
| Consultant | 15,200 QAR |
| Eligibility Specialist | 15,600 QAR |
| Insurance Account Manager | 18,300 QAR |
| Insurance Accounts Executive | 15,900 QAR |
| Insurance Agent | 9,370 QAR |
| Insurance Analyst | 14,900 QAR |
| Insurance Appraiser | 14,900 QAR |
| Insurance Claims Clerk | 5,400 QAR |
| Insurance Examiner | 14,400 QAR |
| Insurance Investigator | 14,400 QAR |
| Insurance Manager | 25,900 QAR |
| Insurance Operations Manager | 26,800 QAR |
| Insurance Policy Processing Clerk | 5,560 QAR |
| Insurance Pricing Assistant | 12,000 QAR |
| Insurance Program Manager | 20,400 QAR |
| Insurance Project Manager | 19,400 QAR |
| Insurance Quality Assurance Agent | 13,100 QAR |
| Insurance Sales Agent | 8,680 QAR |
| Insurance Sales Director | 24,100 QAR |
| Insurance Team Leader | 16,700 QAR |
| Insurance Underwriter | 11,000 QAR |
| Loss Control Specialist | 14,800 QAR |
| Loss Prevention Investigator | 15,500 QAR |
| Loss Prevention Manager | 21,200 QAR |
| Loss Prevention Specialist | 16,700 QAR |
| Marine Underwriter | 11,800 QAR |
| Medical Auditor | 15,300 QAR |
| Monitoring and Performance Officer | 10,300 QAR |
| Payment Services Specialist | 14,900 QAR |
| Policy Change Director | 23,200 QAR |
| Policy Change Supervisor | 17,200 QAR |
| Policy Change Technician | 7,550 QAR |
| Risk Analyst | 16,600 QAR |
| Risk Management Director | 28,100 QAR |
| Risk Management Supervisor | 19,600 QAR |
| Risk Manager | 28,500 QAR |
| Risk Modeling Manager | 27,800 QAR |
| Title Insurance Typist | 13,100 QAR |
| Training Manager | 16,400 QAR |
Insurance Jobs Salary Distribution in Qatar
The median, the maximum, the minimum, and the range
Salary Range
Insurance salaries in Qatar range from 5,830 QAR per month (minimum average salary) to 30,300 QAR per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 16,400 QAR per month, which means that half (50%) of people working in Insurance are earning less than 16,400 QAR while the other half are earning more than 16,400 QAR. 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 people working in Insurance are earning less than 9,980 QAR while 75% of them are earning more than 9,980 QAR. Also from the diagram, 75% of people working in Insurance are earning less than 24,300 QAR while 25% are earning more than 24,300 QAR.
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
Salary Comparison by Years of Experience
How does a person's salary progress over time?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
Salary Comparison By Education
How does the education level affect your salary?
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
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 Qatar costs anywhere from 78,400 Qatari Rial(s) to 235,000 Qatari Rial(s) 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 into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Insurance Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Qatar who work in Insurance earn 7% more than their female counterparts on average.
| Male | 16,400 QAR | |
| Female | -6% | 15,300 QAR |
Salary Comparison By Gender in Qatar for all Careers
Insurance Average Annual Salary Increment Percentage in Qatar
How much are annual salary increments in Qatar for Insurance professionals? How often do employees get salary raises?
Insurance
Insurance professionals in Qatar are likely to observe a salary increase of approximately 10% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.
Qatar / 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
Annual Increment Rate By Industry 2020
| Banking | 5% | |
| Energy | 1% | |
| Information Technology | 6% | |
| Healthcare | 2% | |
| Travel | 7% | |
| Construction | 3% | |
| Education | 8% |
Listed above are the average annual increase rates for each industry in Qatar 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.
Worldwide Salary Raises: All Countries and All Jobs
Insurance Bonus and Incentive Rates in Qatar
How much and how often are bonuses being awarded?
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Insurance is considered to be a moderate bonus-based field 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.
45% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 55% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.
| Received Bonus | 55% | |
| No Bonus | 45% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 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. |
Example: | Example: |
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.
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 Hourly Average Wage in Qatar
91 QAR per hourThe average hourly wage (pay per hour) in Qatar is 91 QAR. This means that the average person in Qatar earns approximately 91 QAR for every worked hour.
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 VS Other Jobs
The average salary for Insurance is 0% more than that of All Jobs.
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 Qatar earn 5% more than their private sector counterparts on average across all sectors.
| Private Sector | 15,300 QAR | |
| Public Sector | +5% | 16,000 QAR |
