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Insurance Appraiser Average Salary in South Africa 2020

How much money does an Insurance Appraiser make in South Africa?


Average Monthly Salary
32,900 ZAR
( 394,000 ZAR yearly)

LOW
16,100
ZAR
AVERAGE
32,900
ZAR
HIGH
51,300
ZAR

A person working as an Insurance Appraiser in South Africa typically earns around 32,900 ZAR per month. Salaries range from 16,100 ZAR (lowest) to 51,300 ZAR (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 South Africa

Median and salary distribution monthly South Africa Insurance Appraiser
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance Appraiser salaries in South Africa range from 16,100 ZAR per month (minimum salary) to 51,300 ZAR per month (maximum salary).

  • Median Salary

    The median salary is 33,500 ZAR per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 33,500 ZAR while the other half are earning more than 33,500 ZAR. 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 22,300 ZAR while 75% of them are earning more than 22,300 ZAR. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 43,200 ZAR while 25% are earning more than 43,200 ZAR.


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 South Africa 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 19,100 ZAR per month.

While someone with an experience level between two and five years is expected to earn 24,500 ZAR 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 33,900 ZAR 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 41,900 ZAR 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 44,900 ZAR 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 47,900 ZAR per month, 7% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in South Africa

0 - 2 Years
19,100 ZAR
2 - 5 Years+29%
24,500 ZAR
5 - 10 Years+38%
33,900 ZAR
10 - 15 Years+24%
41,900 ZAR
15 - 20 Years+7%
44,900 ZAR
20+ Years+7%
47,900 ZAR
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 South Africa 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 27,000 ZAR per month.

While someone with a Bachelor's Degree gets a salary of 41,400 ZAR per month, 53% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in South Africa

Certificate or Diploma
27,000 ZAR
Bachelor's Degree+53%
41,400 ZAR
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 South Africa 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 South Africa earn 8% more than their female counterparts on average.

Male
33,900 ZAR
Female-7%
31,400 ZAR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in South Africa for all Careers

Salary comparison by gender monthly South Africa
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Insurance Appraiser Average Annual Salary Increment Percentage in South Africa

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

Insurance Appraiser

Insurance Appraiser(s) in South Africa are likely to observe a salary increase of approximately 11% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate South Africa 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.

South Africa / 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 South Africa is 5%.

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 South Africa 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 South Africa

How much and how often are bonuses being awarded?Annual Salary Bonus Rate South Africa 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.

70% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 30% 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
30%
No Bonus
70%

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 South Africa


190 ZAR per hour

The average hourly wage (pay per hour) in South Africa is 190 ZAR. This means that the average Insurance Appraiser in South Africa earns approximately 190 ZAR 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 South Africa
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The average salary for Insurance Appraiser is 5% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst44,300 ZAR+35%
Actuarial Assistant31,200 ZAR-5%
Actuary44,100 ZAR+34%
Adjustment Insurance Clerk12,300 ZAR-63%
Assistant Broker21,600 ZAR-34%
Assistant Claims Manager34,100 ZAR+4%
Associate Insurance Representative16,300 ZAR-50%
Auditing Insurance Manager49,300 ZAR+50%
Broker31,600 ZAR-4%
Claim Advocacy Professional34,200 ZAR+4%
Claims Adjuster12,300 ZAR-63%
Claims Analyst17,300 ZAR-47%
Claims Examiner17,300 ZAR-47%
Claims Manager47,000 ZAR+43%
Claims Processor12,400 ZAR-62%
Claims Representative14,200 ZAR-57%
Claims Resolution Specialist36,800 ZAR+12%
Claims Supervisor33,000 ZAR+0%
Complaints Specialist28,800 ZAR-12%
Compliance Officer25,400 ZAR-23%
Consultant31,700 ZAR-4%
Eligibility Specialist33,500 ZAR+2%
Insurance Account Manager38,300 ZAR+17%
Insurance Accounts Executive34,000 ZAR+3%
Insurance Agent18,600 ZAR-43%
Insurance Analyst32,700 ZAR-0%
Insurance Appraiser32,900 ZAR+0%
Insurance Claims Clerk12,200 ZAR-63%
Insurance Examiner30,100 ZAR-8%
Insurance Investigator30,900 ZAR-6%
Insurance Manager55,500 ZAR+69%
Insurance Operations Manager57,500 ZAR+75%
Insurance Policy Processing Clerk12,200 ZAR-63%
Insurance Pricing Assistant26,400 ZAR-20%
Insurance Program Manager44,700 ZAR+36%
Insurance Project Manager40,500 ZAR+23%
Insurance Quality Assurance Agent28,700 ZAR-13%
Insurance Sales Agent19,600 ZAR-40%
Insurance Sales Director54,200 ZAR+65%
Insurance Team Leader34,100 ZAR+4%
Insurance Underwriter25,400 ZAR-23%
Loss Control Specialist33,200 ZAR+1%
Loss Prevention Investigator35,800 ZAR+9%
Loss Prevention Manager45,400 ZAR+38%
Loss Prevention Specialist33,200 ZAR+1%
Marine Underwriter24,800 ZAR-25%
Medical Auditor32,800 ZAR-0%
Monitoring and Performance Officer22,600 ZAR-31%
Payment Services Specialist34,500 ZAR+5%
Policy Change Director52,200 ZAR+59%
Policy Change Supervisor36,100 ZAR+10%
Policy Change Technician16,200 ZAR-51%
Risk Analyst37,400 ZAR+14%
Risk Management Director64,900 ZAR+98%
Risk Management Supervisor42,000 ZAR+28%
Risk Manager62,600 ZAR+91%
Risk Modeling Manager62,600 ZAR+91%
Title Insurance Typist28,800 ZAR-12%
Training Manager37,800 ZAR+15%

Salary Comparison By City

CityAverage Salary
Bloemfontein31,000 ZAR
Cape Town36,000 ZAR
Durban36,000 ZAR
Johannesburg33,000 ZAR
Port Elizabeth32,500 ZAR
Pretoria33,900 ZAR

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 South Africa earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
30,200 ZAR
Public Sector+7%
32,300 ZAR
Percentage increase and decrease are relative to the previous value

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