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Insurance Average Salaries in Switzerland 2024

How much money does a person working in Insurance make in Switzerland?


Average Yearly Salary
123,000 CHF
( 10,200 CHF monthly)

LOW
46,100
CHF
AVERAGE
123,000
CHF
HIGH
240,000
CHF
All salary figures displayed here are per year except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Insurance in Switzerland typically earns around 123,000 CHF. Salaries range from 46,100 CHF (lowest average) to 240,000 CHF (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Insurance domain in Switzerland exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Insurance
Actuarial Analyst166,000 CHF
Actuarial Assistant118,000 CHF
Actuarial Specialist121,000 CHF
Actuary173,000 CHF
Adjustment Insurance Clerk45,600 CHF
Assistant Broker81,600 CHF
Assistant Claims Manager141,000 CHF
Associate Insurance Representative66,500 CHF
Auditing Insurance Manager184,000 CHF
Blockchain Insurance Auditor124,000 CHF
Broker123,000 CHF
Claim Advocacy Professional124,000 CHF
Claims Adjuster46,600 CHF
Claims Analyst65,900 CHF
Claims Examiner66,500 CHF
Claims Manager182,000 CHF
Claims Processor48,500 CHF
Claims Representative54,700 CHF
Claims Resolution Specialist135,000 CHF
Claims Supervisor131,000 CHF
Complaints Specialist121,000 CHF
Compliance Examiner124,000 CHF
Compliance Officer102,000 CHF
Compliance Reviewer124,000 CHF
Consultant131,000 CHF
Drone Claims Adjuster58,200 CHF
Eligibility Interviewer136,000 CHF
Eligibility Specialist133,000 CHF
Insurance Account Manager155,000 CHF
Insurance Accounts Executive135,000 CHF
Insurance Adjuster125,000 CHF
Insurance Agent76,800 CHF
Insurance Analyst131,000 CHF
Insurance Appraiser135,000 CHF
Insurance Claims Clerk45,600 CHF
Insurance Compliance Officer150,000 CHF
Insurance Data Scientist124,000 CHF
Insurance Examiner114,000 CHF
Insurance Fraud Investigator102,000 CHF
Insurance Investigator118,000 CHF
Insurance Manager219,000 CHF
Insurance Operations Manager223,000 CHF
Insurance Policy Processing Clerk47,000 CHF
Insurance Pricing Assistant99,700 CHF
Insurance Product Manager146,000 CHF
Insurance Program Manager166,000 CHF
Insurance Project Manager166,000 CHF
Insurance Quality Assurance Agent111,000 CHF
Insurance Sales Agent76,000 CHF
Insurance Sales Director205,000 CHF
Insurance Sales Manager175,000 CHF
Insurance Sales Representative67,200 CHF
Insurance Team Leader140,000 CHF
Insurance Underwriter92,200 CHF
Insurtech Analyst115,000 CHF
Loss Control Specialist129,000 CHF
Loss Prevention Investigator140,000 CHF
Loss Prevention Manager179,000 CHF
Loss Prevention Specialist132,000 CHF
Marine Underwriter97,900 CHF
Medical Auditor129,000 CHF
Monitoring and Performance Officer91,200 CHF
Parametric Insurance Specialist130,000 CHF
Payment Services Specialist135,000 CHF
Peer-to-Peer Insurance Manager152,000 CHF
Policy Change Director192,000 CHF
Policy Change Supervisor134,000 CHF
Policy Change Technician60,500 CHF
Risk Analyst143,000 CHF
Risk Management Director250,000 CHF
Risk Management Supervisor163,000 CHF
Risk Manager245,000 CHF
Risk Modeling Manager247,000 CHF
Social Media Risk Analyst138,000 CHF
Title Insurance Typist113,000 CHF
Training Manager142,000 CHF
Underwriting Assistant66,600 CHF


Insurance Jobs Pay Scale and Salaries in Switzerland

Median and salary distribution Switzerland Insurance yearly
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Salary Structure and Pay Scale Comparison

5% of people earn
125,000 CHF or more
10% of people earn
105,000 to 125,000 CHF
20% of people earn
62,200 CHF or less
65% of people earn
62,200 to 105,000 CHF
Minimum Salary
46,100 CHF
Median
112,000 CHF
Maximum
240,000 CHF




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per year except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Insurance in Switzerland range from 46,100 CHF (starting average salary) to 240,000 CHF (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Insurance is 112,000 CHF, implying that half of the workforce in Switzerland earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Insurance in Switzerland earn less than 86,800 CHF, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 136,000 CHF, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Insurance in Switzerland. The analysis revealed that roughly 65% of all reported salaries fell within the range of 62,200 CHF to 105,000 CHF. Approximately 20% of salaries were below the 62,200 CHF mark, while 10% ranged from 105,000 CHF to 125,000 CHF. Only 5% of individuals earned a gross salary of 125,000 CHF or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Insurance in Switzerland having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
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.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Insurance in Switzerland, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Switzerland costs anywhere from 51,800 CHF to 155,000 CHF and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Insurance / Switzerland

Salary comparison by gender Switzerland Insurance yearly
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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? In the field of Insurance in Switzerland, the average difference between the salary of male and female employees is 4%.

Male
125,000 CHF
Female-4%
120,000 CHF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Switzerland for all Careers

Salary comparison by gender yearly Switzerland
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Average Annual Salary Increment Percentage / Insurance / Switzerland

How much are annual salary increments in Switzerland for individuals working in Insurance? How often do employees get salary raises?

Professionals working in Insurance in Switzerland are likely to observe a salary increase of approximately 10% every 14 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Switzerland Insurance
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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.

Switzerland / All Professions

Annual Salary Increment Rate Switzerland
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Switzerland is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Insurance / Switzerland

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Switzerland Insurance
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44% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 56% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
56%
No Bonus
44%

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.

Hourly Average Wage / Insurance / Switzerland


59 CHF per hour

The average hourly wage (pay per hour) in Insurance in Switzerland is 59 CHF.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Insurance in Switzerland is 22 CHF. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Basel131,000 CHF
Bern126,000 CHF
Biel114,000 CHF
Geneve133,000 CHF
Lausanne128,000 CHF
Lugano116,000 CHF
Luzern121,000 CHF
St. Gallen119,000 CHF
Winterthur124,000 CHF
Zurich135,000 CHF

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Switzerland is 4% on average across all career fields.

Private Sector
122,000 CHF
Public Sector+4%
127,000 CHF
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Insurance in Switzerland?

A good and competitive compensation would range anywhere between 112,000 CHF and 136,000 CHF. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Insurance in Switzerland ranges from 46,100 CHF to 86,800 CHF. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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