Insurance Appraiser Average Salary in Saudi Arabia 2020

How much money does an Insurance Appraiser make in Saudi Arabia?

Average Monthly Salary

16,300 SAR

( 195,000 SAR yearly)

LOW
8,290
SAR AVERAGE
16,300
SAR HIGH
25,000
SAR

Insurance Appraiser Salary Distribution in Saudi Arabia

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

• Salary Range

  Insurance Appraiser salaries in Saudi Arabia range from 8,290 SAR per month (minimum salary) to 25,000 SAR per month (maximum salary).

• Median Salary

  The median salary is 15,900 SAR per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 15,900 SAR while the other half are earning more than 15,900 SAR. 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 10,900 SAR while 75% of them are earning more than 10,900 SAR. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 20,100 SAR while 25% are earning more than 20,100 SAR.

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 9,300 SAR per month.

While someone with an experience level between two and five years is expected to earn 12,100 SAR per month, 31% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 17,000 SAR per month, 40% 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 20,400 SAR per month, 20% 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 22,200 SAR 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 24,000 SAR per month, 8% more than people with fifteen to twenty years of experience.

Insurance Appraiser average salary change by experience in Saudi Arabia

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 11,000 SAR per month.

While someone with a Bachelor's Degree gets a salary of 19,900 SAR per month, 81% more than someone having a Certificate or Diploma degree.

Insurance Appraiser average salary difference by education level in Saudi Arabia

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 Saudi Arabia earn 16% more than their female counterparts on average.

Salary Comparison By Gender in Saudi Arabia for all Careers

Insurance Appraiser Average Annual Salary Increment Percentage in Saudi Arabia

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

Insurance Appraiser

Insurance Appraiser(s) in Saudi Arabia are likely to observe a salary increase of approximately 11% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.

Saudi Arabia / 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 2019

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

Insurance Appraiser Bonus and Incentive Rates in Saudi Arabia

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.

72% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 28% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.

Received Bonus		28%
No Bonus		72%

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?

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 Saudi Arabia

94 SAR per hour

The average hourly wage (pay per hour) in Saudi Arabia is 94 SAR. This means that the average Insurance Appraiser in Saudi Arabia earns approximately 94 SAR 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 3% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Actuarial Analyst	21,500 SAR	+32%
Actuarial Assistant	15,000 SAR	-8%
Actuary	20,500 SAR	+26%
Adjustment Insurance Clerk	6,030 SAR	-63%
Assistant Broker	10,100 SAR	-38%
Assistant Claims Manager	17,400 SAR	+7%
Associate Insurance Representative	8,470 SAR	-48%
Auditing Insurance Manager	23,900 SAR	+47%
Broker	15,500 SAR	-5%
Claim Advocacy Professional	16,600 SAR	+2%
Claims Adjuster	5,920 SAR	-64%
Claims Analyst	8,210 SAR	-50%
Claims Examiner	8,140 SAR	-50%
Claims Manager	21,900 SAR	+35%
Claims Processor	5,710 SAR	-65%
Claims Representative	6,950 SAR	-57%
Claims Resolution Specialist	17,700 SAR	+9%
Claims Supervisor	16,700 SAR	+3%
Complaints Specialist	14,500 SAR	-11%
Compliance Officer	13,400 SAR	-18%
Consultant	16,000 SAR	-2%
Eligibility Specialist	16,700 SAR	+3%
Insurance Account Manager	20,200 SAR	+24%
Insurance Accounts Executive	18,000 SAR	+11%
Insurance Agent	9,600 SAR	-41%
Insurance Analyst	16,200 SAR	-0%
Insurance Appraiser	16,300 SAR	+0%
Insurance Claims Clerk	5,970 SAR	-63%
Insurance Examiner	14,600 SAR	-10%
Insurance Investigator	14,800 SAR	-9%
Insurance Manager	27,200 SAR	+67%
Insurance Operations Manager	26,500 SAR	+63%
Insurance Policy Processing Clerk	5,810 SAR	-64%
Insurance Pricing Assistant	12,600 SAR	-23%
Insurance Program Manager	21,300 SAR	+31%
Insurance Project Manager	20,400 SAR	+25%
Insurance Quality Assurance Agent	13,400 SAR	-18%
Insurance Sales Agent	9,210 SAR	-43%
Insurance Sales Director	26,100 SAR	+61%
Insurance Team Leader	17,000 SAR	+5%
Insurance Underwriter	12,300 SAR	-24%
Loss Control Specialist	15,000 SAR	-8%
Loss Prevention Investigator	16,000 SAR	-2%
Loss Prevention Manager	22,200 SAR	+37%
Loss Prevention Specialist	17,800 SAR	+9%
Marine Underwriter	12,500 SAR	-23%
Medical Auditor	16,100 SAR	-1%
Monitoring and Performance Officer	11,600 SAR	-29%
Payment Services Specialist	15,500 SAR	-5%
Policy Change Director	25,600 SAR	+57%
Policy Change Supervisor	17,500 SAR	+8%
Policy Change Technician	7,770 SAR	-52%
Risk Analyst	17,600 SAR	+8%
Risk Management Director	30,300 SAR	+86%
Risk Management Supervisor	19,400 SAR	+19%
Risk Manager	28,600 SAR	+76%
Risk Modeling Manager	31,300 SAR	+92%
Title Insurance Typist	13,100 SAR	-19%
Training Manager	17,600 SAR	+8%

Salary Comparison By City

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 Saudi Arabia earn 7% more than their private sector counterparts on average across all sectors.