HOME BROWSE SALARIES BEST PAYING JOBS
Browse Salaries
Best Paying Jobs
Salary Increase Letters
Career Articles

Insurance Appraiser Average Salary in Saint Lucia 2020

How much money does an Insurance Appraiser make in Saint Lucia?


Average Monthly Salary
2,650 XCD
( 31,800 XCD yearly)

LOW
1,240
XCD
AVERAGE
2,650
XCD
HIGH
4,180
XCD

A person working as an Insurance Appraiser in Saint Lucia typically earns around 2,650 XCD per month. Salaries range from 1,240 XCD (lowest) to 4,180 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 Lucia

Median and salary distribution monthly Saint Lucia Insurance Appraiser
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/median-and-salary-distribution-monthly-saint-lucia-insurance-appraiser.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance Appraiser salaries in Saint Lucia range from 1,240 XCD per month (minimum salary) to 4,180 XCD per month (maximum salary).

  • Median Salary

    The median salary is 2,810 XCD per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 2,810 XCD while the other half are earning more than 2,810 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 1,820 XCD while 75% of them are earning more than 1,820 XCD. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 3,700 XCD while 25% are earning more than 3,700 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 Lucia Insurance Appraiser
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/salary-comparison-by-years-of-experience-monthly-saint-lucia-insurance-appraiser.jpg

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 1,440 XCD per month.

While someone with an experience level between two and five years is expected to earn 1,980 XCD per month, 38% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 2,820 XCD per month, 42% 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 3,430 XCD 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 3,630 XCD 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 3,950 XCD per month, 9% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Saint Lucia

0 - 2 Years
1,440 XCD
2 - 5 Years+38%
1,980 XCD
5 - 10 Years+42%
2,820 XCD
10 - 15 Years+22%
3,430 XCD
15 - 20 Years+6%
3,630 XCD
20+ Years+9%
3,950 XCD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

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 Lucia Insurance Appraiser
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/salary-comparison-by-education-level-monthly-saint-lucia-insurance-appraiser.jpg

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 1,800 XCD per month.

While someone with a Bachelor's Degree gets a salary of 3,450 XCD per month, 91% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Saint Lucia

Certificate or Diploma
1,800 XCD
Bachelor's Degree+91%
3,450 XCD
Percentage increase and decrease are relative to the previous value

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Insurance Appraiser Salary Comparison By Gender

Salary comparison by gender monthly Saint Lucia Insurance Appraiser
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/salary-comparison-by-gender-monthly-saint-lucia-insurance-appraiser.jpg

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 Lucia earn 14% more than their female counterparts on average.

Male
2,840 XCD
Female-12%
2,500 XCD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Saint Lucia for all Careers

Salary comparison by gender monthly Saint Lucia
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/salary-comparison-by-gender-monthly-saint-lucia.jpg

Insurance Appraiser Average Annual Salary Increment Percentage in Saint Lucia

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

Insurance Appraiser

Insurance Appraiser(s) in Saint Lucia are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Saint Lucia Insurance Appraiser
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/annual-salary-increment-rate-saint-lucia-insurance-appraiser.jpg


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 Lucia / 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 Lucia is 2%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

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

Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

Insurance Appraiser Bonus and Incentive Rates in Saint Lucia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Saint Lucia Insurance Appraiser
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/annual-salary-bonus-rate-saint-lucia-insurance-appraiser.jpg

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.

85% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 15% 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
15%
No Bonus
85%

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 Lucia


15 XCD per hour

The average hourly wage (pay per hour) in Saint Lucia is 15 XCD. This means that the average Insurance Appraiser in Saint Lucia earns approximately 15 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 Lucia
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/saint-lucia/insurance/insurance-appraiser/salary-comparison-between-insurance-appraiser-and-insurance-monthly-saint-lucia.jpg

The average salary for Insurance Appraiser is 6% 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 Analyst3,560 XCD+34%
Actuarial Assistant2,460 XCD-7%
Actuary3,540 XCD+34%
Adjustment Insurance Clerk1,000 XCD-62%
Assistant Broker1,780 XCD-33%
Assistant Claims Manager2,930 XCD+11%
Associate Insurance Representative1,400 XCD-47%
Auditing Insurance Manager3,950 XCD+49%
Broker2,710 XCD+2%
Claim Advocacy Professional2,720 XCD+3%
Claims Adjuster970 XCD-63%
Claims Analyst1,480 XCD-44%
Claims Examiner1,460 XCD-45%
Claims Manager3,900 XCD+47%
Claims Processor1,010 XCD-62%
Claims Representative1,250 XCD-53%
Claims Resolution Specialist2,880 XCD+9%
Claims Supervisor2,650 XCD+0%
Complaints Specialist2,600 XCD-2%
Compliance Officer2,290 XCD-14%
Consultant2,760 XCD+4%
Eligibility Specialist2,640 XCD-0%
Insurance Account Manager3,360 XCD+27%
Insurance Accounts Executive2,820 XCD+6%
Insurance Agent1,580 XCD-40%
Insurance Analyst2,800 XCD+6%
Insurance Appraiser2,650 XCD+0%
Insurance Claims Clerk960 XCD-64%
Insurance Examiner2,590 XCD-2%
Insurance Investigator2,620 XCD-1%
Insurance Manager4,630 XCD+75%
Insurance Operations Manager4,830 XCD+82%
Insurance Policy Processing Clerk1,020 XCD-61%
Insurance Pricing Assistant2,110 XCD-20%
Insurance Program Manager3,440 XCD+30%
Insurance Project Manager3,510 XCD+33%
Insurance Quality Assurance Agent2,380 XCD-10%
Insurance Sales Agent1,600 XCD-40%
Insurance Sales Director4,280 XCD+62%
Insurance Team Leader3,000 XCD+13%
Insurance Underwriter2,020 XCD-24%
Loss Control Specialist2,590 XCD-2%
Loss Prevention Investigator2,750 XCD+4%
Loss Prevention Manager3,780 XCD+43%
Loss Prevention Specialist3,010 XCD+14%
Marine Underwriter1,990 XCD-25%
Medical Auditor2,730 XCD+3%
Monitoring and Performance Officer1,830 XCD-31%
Payment Services Specialist2,650 XCD+0%
Policy Change Director4,390 XCD+66%
Policy Change Supervisor2,990 XCD+13%
Policy Change Technician1,320 XCD-50%
Risk Analyst2,940 XCD+11%
Risk Management Director5,010 XCD+89%
Risk Management Supervisor3,530 XCD+33%
Risk Manager5,170 XCD+95%
Risk Modeling Manager5,090 XCD+92%
Title Insurance Typist2,380 XCD-10%
Training Manager3,100 XCD+17%

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 Lucia earn 21% more than their private sector counterparts on average across all sectors.

Private Sector
2,570 XCD
Public Sector+21%
3,100 XCD
Percentage increase and decrease are relative to the previous value

Browse Salaries

Salary Increase Letters

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2020