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Insurance Average Salaries in Taiwan 2024

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


Average Monthly Salary
128,000 TWD
( 1,540,000 TWD yearly)

LOW
48,100
TWD
AVERAGE
128,000
TWD
HIGH
250,000
TWD
All salary figures displayed here are per month 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 Taiwan typically earns around 128,000 TWD. Salaries range from 48,100 TWD (lowest average) to 250,000 TWD (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 Taiwan 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 Analyst177,000 TWD
Actuarial Assistant126,000 TWD
Actuarial Specialist129,000 TWD
Actuary182,000 TWD
Adjustment Insurance Clerk48,500 TWD
Assistant Broker84,200 TWD
Assistant Claims Manager151,000 TWD
Associate Insurance Representative69,900 TWD
Auditing Insurance Manager196,000 TWD
Blockchain Insurance Auditor126,000 TWD
Broker131,000 TWD
Claim Advocacy Professional141,000 TWD
Claims Adjuster49,700 TWD
Claims Analyst70,400 TWD
Claims Examiner71,300 TWD
Claims Manager196,000 TWD
Claims Processor52,100 TWD
Claims Representative59,400 TWD
Claims Resolution Specialist138,000 TWD
Claims Supervisor127,000 TWD
Complaints Specialist128,000 TWD
Compliance Examiner123,000 TWD
Compliance Officer109,000 TWD
Compliance Reviewer123,000 TWD
Consultant130,000 TWD
Drone Claims Adjuster60,100 TWD
Eligibility Interviewer146,000 TWD
Eligibility Specialist130,000 TWD
Insurance Account Manager163,000 TWD
Insurance Accounts Executive144,000 TWD
Insurance Adjuster125,000 TWD
Insurance Agent80,800 TWD
Insurance Analyst129,000 TWD
Insurance Appraiser140,000 TWD
Insurance Claims Clerk47,500 TWD
Insurance Compliance Officer150,000 TWD
Insurance Data Scientist124,000 TWD
Insurance Examiner119,000 TWD
Insurance Fraud Investigator113,000 TWD
Insurance Investigator123,000 TWD
Insurance Manager228,000 TWD
Insurance Operations Manager221,000 TWD
Insurance Policy Processing Clerk49,300 TWD
Insurance Pricing Assistant109,000 TWD
Insurance Product Manager161,000 TWD
Insurance Program Manager170,000 TWD
Insurance Project Manager166,000 TWD
Insurance Quality Assurance Agent119,000 TWD
Insurance Sales Agent79,800 TWD
Insurance Sales Director219,000 TWD
Insurance Sales Manager175,000 TWD
Insurance Sales Representative70,700 TWD
Insurance Team Leader143,000 TWD
Insurance Underwriter104,000 TWD
Insurtech Analyst128,000 TWD
Loss Control Specialist133,000 TWD
Loss Prevention Investigator145,000 TWD
Loss Prevention Manager186,000 TWD
Loss Prevention Specialist138,000 TWD
Marine Underwriter95,400 TWD
Medical Auditor135,000 TWD
Monitoring and Performance Officer90,300 TWD
Parametric Insurance Specialist129,000 TWD
Payment Services Specialist140,000 TWD
Peer-to-Peer Insurance Manager169,000 TWD
Policy Change Director208,000 TWD
Policy Change Supervisor145,000 TWD
Policy Change Technician65,900 TWD
Risk Analyst156,000 TWD
Risk Management Director247,000 TWD
Risk Management Supervisor162,000 TWD
Risk Manager244,000 TWD
Risk Modeling Manager247,000 TWD
Social Media Risk Analyst138,000 TWD
Title Insurance Typist112,000 TWD
Training Manager147,000 TWD
Underwriting Assistant64,900 TWD


Insurance Jobs Pay Scale and Salaries in Taiwan

Median and salary distribution Taiwan Insurance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
131,000 TWD or more
10% of people earn
111,000 to 131,000 TWD
20% of people earn
65,500 TWD or less
65% of people earn
65,500 to 111,000 TWD
Minimum Salary
48,100 TWD
Median
118,000 TWD
Maximum
250,000 TWD




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

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

    Salaries in Insurance in Taiwan range from 48,100 TWD (starting average salary) to 250,000 TWD (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 118,000 TWD, implying that half of the workforce in Taiwan 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 Taiwan earn less than 91,500 TWD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 143,000 TWD, 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 Taiwan. The analysis revealed that roughly 65% of all reported salaries fell within the range of 65,500 TWD to 111,000 TWD. Approximately 20% of salaries were below the 65,500 TWD mark, while 10% ranged from 111,000 TWD to 131,000 TWD. Only 5% of individuals earned a gross salary of 131,000 TWD 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 Taiwan 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 Taiwan, 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 Taiwan costs anywhere from 649,000 TWD to 1,950,000 TWD 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 / Taiwan

Salary comparison by gender Taiwan Insurance monthly
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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 Taiwan, the average difference between the salary of male and female employees is 9%.

Male
135,000 TWD
Female-8%
125,000 TWD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Taiwan for all Careers

Salary comparison by gender monthly Taiwan
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Average Annual Salary Increment Percentage / Insurance / Taiwan

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

Professionals working in Insurance in Taiwan are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Taiwan 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.

Taiwan / All Professions

Annual Salary Increment Rate Taiwan
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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 Taiwan is 2%.

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 / Taiwan

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Taiwan Insurance
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63% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 37% 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
37%
No Bonus
63%

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 / Taiwan


740 TWD per hour

The average hourly wage (pay per hour) in Insurance in Taiwan is 740 TWD.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 Taiwan is 280 TWD. 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
Kaohsiung144,000 TWD
Taichung134,000 TWD
Tainan120,000 TWD
Taipei128,000 TWD

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 Taiwan is 7% on average across all career fields.

Private Sector
125,000 TWD
Public Sector+7%
134,000 TWD
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 Taiwan?

A good and competitive compensation would range anywhere between 118,000 TWD and 143,000 TWD. 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 Taiwan ranges from 48,100 TWD to 91,500 TWD. 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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