Insurance Appraiser Average Salary in Venezuela 2021
How much money does an Insurance Appraiser make in Venezuela?
LOW
69,000
VES AVERAGE
130,000
VES HIGH
198,000
VES
A person working as an Insurance Appraiser in Venezuela typically earns around 130,000 VES per month. Salaries range from 69,000 VES (lowest) to 198,000 VES (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 Venezuela
The median, the maximum, the minimum, and the range
Salary Range
Insurance Appraiser salaries in Venezuela range from 69,000 VES per month (minimum salary) to 198,000 VES per month (maximum salary).
Median Salary
The median salary is 122,000 VES per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 122,000 VES while the other half are earning more than 122,000 VES. 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 86,200 VES while 75% of them are earning more than 86,200 VES. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 151,000 VES while 25% are earning more than 151,000 VES.
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?
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 79,400 VES per month.
While someone with an experience level between two and five years is expected to earn 97,400 VES per month, 23% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 138,000 VES per month, 42% 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 161,000 VES per month, 17% 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 177,000 VES per month, 10% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 188,000 VES per month, 6% more than people with fifteen to twenty years of experience.
Insurance Appraiser average salary change by experience in Venezuela
| 0 - 2 Years | 79,400 VES | |
| 2 - 5 Years | +23% | 97,400 VES |
| 5 - 10 Years | +42% | 138,000 VES |
| 10 - 15 Years | +17% | 161,000 VES |
| 15 - 20 Years | +10% | 177,000 VES |
| 20+ Years | +6% | 188,000 VES |
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 105,000 VES per month.
While someone with a Bachelor's Degree gets a salary of 154,000 VES per month, 47% more than someone having a Certificate or Diploma degree.
Insurance Appraiser average salary difference by education level in Venezuela
| Certificate or Diploma | 105,000 VES | |
| Bachelor's Degree | +47% | 154,000 VES |
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 Venezuela earn 11% more than their female counterparts on average.
| Male | 136,000 VES | |
| Female | -10% | 122,000 VES |
Salary Comparison By Gender in Venezuela for all Careers
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Insurance Appraiser Average Annual Salary Increment Percentage in Venezuela
How much are annual salary increments in Venezuela for Insurance Appraiser(s)? How often do employees get salary raises?
Insurance Appraiser
Insurance Appraiser(s) in Venezuela 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.
Venezuela / 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 2020
| Banking | 1% | |
| Energy | 2% | |
| Information Technology | 3% | |
| Healthcare | 4% | |
| Travel | 5% | |
| Construction | 6% | |
| Education | 7% |
Listed above are the average annual increase rates for each industry in Venezuela 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
Insurance Appraiser Bonus and Incentive Rates in Venezuela
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.
91% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 9% 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 | 9% | |
| No Bonus | 91% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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 Venezuela
750 VES per hourThe average hourly wage (pay per hour) in Venezuela is 750 VES. This means that the average Insurance Appraiser in Venezuela earns approximately 750 VES 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 2% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Actuarial Analyst | 177,000 VES |  +36% |
| Actuarial Assistant | 129,000 VES |  -1% |
| Actuary | 176,000 VES | +35% |
| Adjustment Insurance Clerk | 47,500 VES | -64% |
| Assistant Broker | 82,900 VES | -36% |
| Assistant Claims Manager | 146,000 VES | +12% |
| Associate Insurance Representative | 69,300 VES | -47% |
| Auditing Insurance Manager | 197,000 VES | +51% |
| Broker | 135,000 VES | +4% |
| Claim Advocacy Professional | 140,000 VES | +7% |
| Claims Adjuster | 51,000 VES | -61% |
| Claims Analyst | 66,900 VES | -49% |
| Claims Examiner | 69,300 VES | -47% |
| Claims Manager | 195,000 VES | +50% |
| Claims Processor | 48,000 VES | -63% |
| Claims Representative | 57,000 VES | -56% |
| Claims Resolution Specialist | 141,000 VES | +8% |
| Claims Supervisor | 133,000 VES | +2% |
| Complaints Specialist | 123,000 VES | -6% |
| Compliance Officer | 109,000 VES | -16% |
| Consultant | 133,000 VES | +2% |
| Eligibility Specialist | 139,000 VES | +7% |
| Insurance Account Manager | 158,000 VES | +21% |
| Insurance Accounts Executive | 141,000 VES | +8% |
| Insurance Agent | 82,000 VES | -37% |
| Insurance Analyst | 127,000 VES | -3% |
| Insurance Appraiser | 130,000 VES | -0% |
| Insurance Claims Clerk | 50,000 VES | -62% |
| Insurance Examiner | 128,000 VES | -2% |
| Insurance Investigator | 123,000 VES | -6% |
| Insurance Manager | 228,000 VES | +75% |
| Insurance Operations Manager | 232,000 VES | +78% |
| Insurance Policy Processing Clerk | 50,300 VES | -61% |
| Insurance Pricing Assistant | 107,000 VES | -18% |
| Insurance Program Manager | 177,000 VES | +36% |
| Insurance Project Manager | 169,000 VES | +30% |
| Insurance Quality Assurance Agent | 119,000 VES | -9% |
| Insurance Sales Agent | 83,200 VES | -36% |
| Insurance Sales Director | 224,000 VES | +72% |
| Insurance Team Leader | 139,000 VES | +7% |
| Insurance Underwriter | 104,000 VES | -20% |
| Loss Control Specialist | 127,000 VES | -3% |
| Loss Prevention Investigator | 142,000 VES | +9% |
| Loss Prevention Manager | 186,000 VES | +43% |
| Loss Prevention Specialist | 141,000 VES | +8% |
| Marine Underwriter | 99,500 VES | -24% |
| Medical Auditor | 135,000 VES | +4% |
| Monitoring and Performance Officer | 97,400 VES | -25% |
| Payment Services Specialist | 137,000 VES | +5% |
| Policy Change Director | 210,000 VES | +61% |
| Policy Change Supervisor | 150,000 VES | +15% |
| Policy Change Technician | 63,100 VES | -52% |
| Risk Analyst | 156,000 VES | +20% |
| Risk Management Director | 254,000 VES | +95% |
| Risk Management Supervisor | 170,000 VES | +30% |
| Risk Manager | 261,000 VES | +100% |
| Risk Modeling Manager | 245,000 VES | +88% |
| Title Insurance Typist | 120,000 VES | -8% |
| Training Manager | 145,000 VES | +11% |
Salary Comparison By City
| City | Average Salary |
| Barquisimeto | 131,000 VES |
| Caracas | 155,000 VES |
| Ciudad Guayana | 128,000 VES |
| Maracaibo | 141,000 VES |
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 Venezuela earn 11% more than their private sector counterparts on average across all sectors.
| Private Sector | 124,000 VES | |
| Public Sector | +11% | 138,000 VES |
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