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Insurance Appraiser Average Salary in Benin 2021

How much money does an Insurance Appraiser make in Benin?

Average Monthly Salary
343,000 XOF
( 4,120,000 XOF yearly)


A person working as an Insurance Appraiser in Benin typically earns around 343,000 XOF per month. Salaries range from 185,000 XOF (lowest) to 518,000 XOF (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 Benin

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

  • Salary Range

    Insurance Appraiser salaries in Benin range from 185,000 XOF per month (minimum salary) to 518,000 XOF per month (maximum salary).

  • Median Salary

    The median salary is 315,000 XOF per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 315,000 XOF while the other half are earning more than 315,000 XOF. 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 225,000 XOF while 75% of them are earning more than 225,000 XOF. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 383,000 XOF while 25% are earning more than 383,000 XOF.

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 Benin 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 215,000 XOF per month.

While someone with an experience level between two and five years is expected to earn 272,000 XOF per month, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 358,000 XOF per month, 32% 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 421,000 XOF per month, 18% 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 466,000 XOF per month, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 496,000 XOF per month, 6% more than people with fifteen to twenty years of experience.

Insurance Appraiser average salary change by experience in Benin

0 - 2 Years
215,000 XOF
2 - 5 Years+26%
272,000 XOF
5 - 10 Years+32%
358,000 XOF
10 - 15 Years+18%
421,000 XOF
15 - 20 Years+11%
466,000 XOF
20+ Years+6%
496,000 XOF
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 Benin 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 298,000 XOF per month.

While someone with a Bachelor's Degree gets a salary of 445,000 XOF per month, 49% more than someone having a Certificate or Diploma degree.

Insurance Appraiser average salary difference by education level in Benin

Certificate or Diploma
298,000 XOF
Bachelor's Degree+49%
445,000 XOF
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 Benin 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 Benin earn 9% more than their female counterparts on average.

355,000 XOF
327,000 XOF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Benin for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Benin 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.

Annual Salary Increment Rate Benin 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.

Benin / 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 Benin is 2%.

Annual Increment Rate By Industry 2020

Information Technology

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

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Insurance Appraiser Bonus and Incentive Rates in Benin

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

92% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 8% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 2% of their annual salary.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Benin

1,980 XOF per hour

The average hourly wage (pay per hour) in Benin is 1,980 XOF. This means that the average Insurance Appraiser in Benin earns approximately 1,980 XOF 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 Benin
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The average salary for Insurance Appraiser is 1% 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 Analyst446,000 XOF+30%
Actuarial Assistant321,000 XOF-6%
Actuary475,000 XOF+39%
Adjustment Insurance Clerk134,000 XOF-61%
Assistant Broker229,000 XOF-33%
Assistant Claims Manager384,000 XOF+12%
Associate Insurance Representative190,000 XOF-45%
Auditing Insurance Manager496,000 XOF+45%
Broker344,000 XOF+0%
Claim Advocacy Professional366,000 XOF+7%
Claims Adjuster127,000 XOF-63%
Claims Analyst182,000 XOF-47%
Claims Examiner186,000 XOF-46%
Claims Manager516,000 XOF+50%
Claims Processor126,000 XOF-63%
Claims Representative158,000 XOF-54%
Claims Resolution Specialist364,000 XOF+6%
Claims Supervisor344,000 XOF+0%
Complaints Specialist324,000 XOF-6%
Compliance Officer295,000 XOF-14%
Consultant337,000 XOF-2%
Eligibility Specialist356,000 XOF+4%
Insurance Account Manager437,000 XOF+27%
Insurance Accounts Executive387,000 XOF+13%
Insurance Agent201,000 XOF-41%
Insurance Analyst355,000 XOF+4%
Insurance Appraiser343,000 XOF+0%
Insurance Claims Clerk130,000 XOF-62%
Insurance Examiner328,000 XOF-4%
Insurance Investigator344,000 XOF+0%
Insurance Manager593,000 XOF+73%
Insurance Operations Manager597,000 XOF+74%
Insurance Policy Processing Clerk126,000 XOF-63%
Insurance Pricing Assistant284,000 XOF-17%
Insurance Program Manager453,000 XOF+32%
Insurance Project Manager429,000 XOF+25%
Insurance Quality Assurance Agent315,000 XOF-8%
Insurance Sales Agent206,000 XOF-40%
Insurance Sales Director558,000 XOF+63%
Insurance Team Leader377,000 XOF+10%
Insurance Underwriter271,000 XOF-21%
Loss Control Specialist339,000 XOF-1%
Loss Prevention Investigator374,000 XOF+9%
Loss Prevention Manager484,000 XOF+41%
Loss Prevention Specialist363,000 XOF+6%
Marine Underwriter258,000 XOF-25%
Medical Auditor350,000 XOF+2%
Monitoring and Performance Officer253,000 XOF-26%
Payment Services Specialist360,000 XOF+5%
Policy Change Director524,000 XOF+53%
Policy Change Supervisor371,000 XOF+8%
Policy Change Technician170,000 XOF-50%
Risk Analyst371,000 XOF+8%
Risk Management Director659,000 XOF+92%
Risk Management Supervisor436,000 XOF+27%
Risk Manager664,000 XOF+94%
Risk Modeling Manager679,000 XOF+98%
Title Insurance Typist305,000 XOF-11%
Training Manager399,000 XOF+16%

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

Private Sector
326,000 XOF
Public Sector+7%
350,000 XOF
Percentage increase and decrease are relative to the previous value
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