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Insurance Appraiser Average Salary in Saint Kitts and Nevis 2020

How much money does an Insurance Appraiser make in Saint Kitts and Nevis?


Average Monthly Salary
3,340 XCD
( 40,100 XCD yearly)

LOW
1,640
XCD
AVERAGE
3,340
XCD
HIGH
5,220
XCD

A person working as an Insurance Appraiser in Saint Kitts and Nevis typically earns around 3,340 XCD per month. Salaries range from 1,640 XCD (lowest) to 5,220 XCD (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 Saint Kitts and Nevis

Median and salary distribution monthly Saint Kitts and Nevis Insurance Appraiser
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance Appraiser salaries in Saint Kitts and Nevis range from 1,640 XCD per month (minimum salary) to 5,220 XCD per month (maximum salary).

  • Median Salary

    The median salary is 3,410 XCD per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 3,410 XCD while the other half are earning more than 3,410 XCD. 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 2,270 XCD while 75% of them are earning more than 2,270 XCD. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 4,400 XCD while 25% are earning more than 4,400 XCD.


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 Saint Kitts and Nevis 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 1,940 XCD per month.

While someone with an experience level between two and five years is expected to earn 2,500 XCD per month, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 3,450 XCD per month, 38% 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 4,270 XCD per month, 24% 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 4,570 XCD per month, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 4,880 XCD per month, 7% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Saint Kitts and Nevis

0 - 2 Years
1,940 XCD
2 - 5 Years+29%
2,500 XCD
5 - 10 Years+38%
3,450 XCD
10 - 15 Years+24%
4,270 XCD
15 - 20 Years+7%
4,570 XCD
20+ Years+7%
4,880 XCD
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 Saint Kitts and Nevis 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 2,750 XCD per month.

While someone with a Bachelor's Degree gets a salary of 4,220 XCD per month, 53% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Saint Kitts and Nevis

Certificate or Diploma
2,750 XCD
Bachelor's Degree+53%
4,220 XCD
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 Saint Kitts and Nevis 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 Saint Kitts and Nevis earn 12% more than their female counterparts on average.

Male
3,490 XCD
Female-10%
3,130 XCD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Saint Kitts and Nevis for all Careers

Salary comparison by gender monthly Saint Kitts and Nevis
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Insurance Appraiser Average Annual Salary Increment Percentage in Saint Kitts and Nevis

How much are annual salary increments in Saint Kitts and Nevis for Insurance Appraiser(s)? How often do employees get salary raises?

Insurance Appraiser

Insurance Appraiser(s) in Saint Kitts and Nevis are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Saint Kitts and Nevis 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.

Saint Kitts and Nevis / 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 Saint Kitts and Nevis is 2%.

Annual Increment Rate By Industry 2019

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

Listed above are the average annual increase rates for each industry in Saint Kitts and Nevis 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 Saint Kitts and Nevis

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Saint Kitts and Nevis 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.

87% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 13% 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
13%
No Bonus
87%

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 Saint Kitts and Nevis


19 XCD per hour

The average hourly wage (pay per hour) in Saint Kitts and Nevis is 19 XCD. This means that the average Insurance Appraiser in Saint Kitts and Nevis earns approximately 19 XCD 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 Saint Kitts and Nevis
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The average salary for Insurance Appraiser is 1% 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 Analyst4,440 XCD+33%
Actuarial Assistant3,070 XCD-8%
Actuary4,450 XCD+33%
Adjustment Insurance Clerk1,250 XCD-63%
Assistant Broker2,140 XCD-36%
Assistant Claims Manager3,450 XCD+3%
Associate Insurance Representative1,670 XCD-50%
Auditing Insurance Manager4,940 XCD+48%
Broker3,220 XCD-4%
Claim Advocacy Professional3,300 XCD-1%
Claims Adjuster1,210 XCD-64%
Claims Analyst1,670 XCD-50%
Claims Examiner1,640 XCD-51%
Claims Manager4,840 XCD+45%
Claims Processor1,250 XCD-63%
Claims Representative1,480 XCD-56%
Claims Resolution Specialist3,480 XCD+4%
Claims Supervisor3,280 XCD-2%
Complaints Specialist3,100 XCD-7%
Compliance Officer2,720 XCD-19%
Consultant3,220 XCD-4%
Eligibility Specialist3,270 XCD-2%
Insurance Account Manager4,020 XCD+20%
Insurance Accounts Executive3,700 XCD+11%
Insurance Agent1,880 XCD-44%
Insurance Analyst3,130 XCD-6%
Insurance Appraiser3,340 XCD-0%
Insurance Claims Clerk1,220 XCD-64%
Insurance Examiner2,950 XCD-12%
Insurance Investigator2,980 XCD-11%
Insurance Manager5,550 XCD+66%
Insurance Operations Manager5,370 XCD+61%
Insurance Policy Processing Clerk1,280 XCD-62%
Insurance Pricing Assistant2,610 XCD-22%
Insurance Program Manager4,150 XCD+24%
Insurance Project Manager4,100 XCD+23%
Insurance Quality Assurance Agent2,950 XCD-12%
Insurance Sales Agent2,010 XCD-40%
Insurance Sales Director5,340 XCD+60%
Insurance Team Leader3,460 XCD+3%
Insurance Underwriter2,440 XCD-27%
Loss Control Specialist3,120 XCD-7%
Loss Prevention Investigator3,300 XCD-1%
Loss Prevention Manager4,540 XCD+36%
Loss Prevention Specialist3,610 XCD+8%
Marine Underwriter2,460 XCD-26%
Medical Auditor3,280 XCD-2%
Monitoring and Performance Officer2,370 XCD-29%
Payment Services Specialist3,180 XCD-5%
Policy Change Director4,910 XCD+47%
Policy Change Supervisor3,680 XCD+10%
Policy Change Technician1,620 XCD-52%
Risk Analyst3,630 XCD+9%
Risk Management Director6,180 XCD+85%
Risk Management Supervisor3,920 XCD+17%
Risk Manager6,340 XCD+90%
Risk Modeling Manager6,240 XCD+87%
Title Insurance Typist2,920 XCD-13%
Training Manager3,740 XCD+12%

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 Saint Kitts and Nevis earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
3,210 XCD
Public Sector+14%
3,650 XCD
Percentage increase and decrease are relative to the previous value

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