Insurance Appraiser Average Salary in Saint Vincent and the Grenadines 2021
How much money does an Insurance Appraiser make in Saint Vincent and the Grenadines?
LOW
1,670
XCD AVERAGE
3,330
XCD HIGH
5,160
XCD
A person working as an Insurance Appraiser in Saint Vincent and the Grenadines typically earns around 3,330 XCD per month. Salaries range from 1,670 XCD (lowest) to 5,160 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 Vincent and the Grenadines
The median, the maximum, the minimum, and the range
Salary Range
Insurance Appraiser salaries in Saint Vincent and the Grenadines range from 1,670 XCD per month (minimum salary) to 5,160 XCD per month (maximum salary).
Median Salary
The median salary is 3,330 XCD per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 3,330 XCD while the other half are earning more than 3,330 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 2,250 XCD while 75% of them are earning more than 2,250 XCD. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 4,250 XCD while 25% are earning more than 4,250 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?
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 2,000 XCD per month.
While someone with an experience level between two and five years is expected to earn 2,650 XCD per month, 32% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 3,540 XCD per month, 34% 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 4,220 XCD per month, 19% 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 4,550 XCD per month, 8% 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 Vincent and the Grenadines
| 0 - 2 Years | 2,000 XCD | |
| 2 - 5 Years | +32% | 2,650 XCD |
| 5 - 10 Years | +34% | 3,540 XCD |
| 10 - 15 Years | +19% | 4,220 XCD |
| 15 - 20 Years | +8% | 4,550 XCD |
| 20+ Years | +7% | 4,880 XCD |
Typical Salary Progress for Most Careers
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.
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 2,960 XCD per month.
While someone with a Bachelor's Degree gets a salary of 4,600 XCD per month, 56% more than someone having a Certificate or Diploma degree.
Insurance Appraiser average salary difference by education level in Saint Vincent and the Grenadines
| Certificate or Diploma | 2,960 XCD | |
| Bachelor's Degree | +56% | 4,600 XCD |
Typical Salary Difference by Education for Most Careers
Insurance Appraiser 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 Insurance Appraiser employees in Saint Vincent and the Grenadines earn 6% more than their female counterparts on average.
| Male | 3,420 XCD | |
| Female | -6% | 3,220 XCD |
Salary Comparison By Gender in Saint Vincent and the Grenadines for all Careers
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Insurance Appraiser Average Annual Salary Increment Percentage in Saint Vincent and the Grenadines
How much are annual salary increments in Saint Vincent and the Grenadines for Insurance Appraiser(s)? How often do employees get salary raises?
Insurance Appraiser
Insurance Appraiser(s) in Saint Vincent and the Grenadines 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.
Saint Vincent and the Grenadines / 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 | 7% | |
| Energy | 5% | |
| Information Technology | 3% | |
| Healthcare | 1% | |
| Travel | 8% | |
| Construction | 6% | |
| Education | 4% |
Listed above are the average annual increase rates for each industry in Saint Vincent and the Grenadines 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 Appraiser Bonus and Incentive Rates in Saint Vincent and the Grenadines
How much and how often are bonuses being awarded?
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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.
88% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 12% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 0% to 3% of their annual salary.
| Received Bonus | 12% | |
| No Bonus | 88% |
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 Appraiser Average Hourly Wage in Saint Vincent and the Grenadines
19 XCD per hourThe average hourly wage (pay per hour) in Saint Vincent and the Grenadines is 19 XCD. This means that the average Insurance Appraiser in Saint Vincent and the Grenadines earns approximately 19 XCD 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 Appraiser VS Other Jobs
The average salary for Insurance Appraiser is 2% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Actuarial Analyst | 4,200 XCD |  +26% |
| Actuarial Assistant | 3,220 XCD |  -3% |
| Actuary | 4,540 XCD | +36% |
| Adjustment Insurance Clerk | 1,180 XCD | -65% |
| Assistant Broker | 2,100 XCD | -37% |
| Assistant Claims Manager | 3,680 XCD | +10% |
| Associate Insurance Representative | 1,700 XCD | -49% |
| Auditing Insurance Manager | 4,660 XCD | +40% |
| Broker | 3,350 XCD | +1% |
| Claim Advocacy Professional | 3,180 XCD | -5% |
| Claims Adjuster | 1,270 XCD | -62% |
| Claims Analyst | 1,760 XCD | -47% |
| Claims Examiner | 1,740 XCD | -48% |
| Claims Manager | 4,650 XCD | +40% |
| Claims Processor | 1,210 XCD | -64% |
| Claims Representative | 1,450 XCD | -56% |
| Claims Resolution Specialist | 3,370 XCD | +1% |
| Claims Supervisor | 3,180 XCD | -5% |
| Complaints Specialist | 2,880 XCD | -14% |
| Compliance Officer | 2,590 XCD | -22% |
| Consultant | 3,250 XCD | -2% |
| Eligibility Specialist | 3,180 XCD | -5% |
| Insurance Account Manager | 4,060 XCD | +22% |
| Insurance Accounts Executive | 3,510 XCD | +5% |
| Insurance Agent | 1,920 XCD | -42% |
| Insurance Analyst | 3,060 XCD | -8% |
| Insurance Appraiser | 3,330 XCD | -0% |
| Insurance Claims Clerk | 1,220 XCD | -63% |
| Insurance Examiner | 2,970 XCD | -11% |
| Insurance Investigator | 3,010 XCD | -10% |
| Insurance Manager | 5,550 XCD | +67% |
| Insurance Operations Manager | 5,390 XCD | +62% |
| Insurance Policy Processing Clerk | 1,170 XCD | -65% |
| Insurance Pricing Assistant | 2,590 XCD | -22% |
| Insurance Program Manager | 4,460 XCD | +34% |
| Insurance Project Manager | 4,140 XCD | +24% |
| Insurance Quality Assurance Agent | 2,840 XCD | -15% |
| Insurance Sales Agent | 2,040 XCD | -39% |
| Insurance Sales Director | 5,600 XCD | +68% |
| Insurance Team Leader | 3,300 XCD | -1% |
| Insurance Underwriter | 2,360 XCD | -29% |
| Loss Control Specialist | 3,090 XCD | -7% |
| Loss Prevention Investigator | 3,280 XCD | -2% |
| Loss Prevention Manager | 4,540 XCD | +36% |
| Loss Prevention Specialist | 3,620 XCD | +9% |
| Marine Underwriter | 2,390 XCD | -28% |
| Medical Auditor | 3,280 XCD | -2% |
| Monitoring and Performance Officer | 2,370 XCD | -29% |
| Payment Services Specialist | 3,170 XCD | -5% |
| Policy Change Director | 5,320 XCD | +60% |
| Policy Change Supervisor | 3,630 XCD | +9% |
| Policy Change Technician | 1,610 XCD | -52% |
| Risk Analyst | 3,610 XCD | +8% |
| Risk Management Director | 6,180 XCD | +85% |
| Risk Management Supervisor | 3,940 XCD | +18% |
| Risk Manager | 6,390 XCD | +92% |
| Risk Modeling Manager | 6,310 XCD | +89% |
| Title Insurance Typist | 2,940 XCD | -12% |
| Training Manager | 3,670 XCD | +10% |
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 Vincent and the Grenadines earn 10% more than their private sector counterparts on average across all sectors.
| Private Sector | 3,290 XCD | |
| Public Sector | +10% | 3,630 XCD |
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