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Insurance Appraiser Average Salary in Zambia 2020

How much money does an Insurance Appraiser make in Zambia?


Average Monthly Salary
6,120 ZMK
( 73,500 ZMK yearly)

LOW
2,940
ZMK
AVERAGE
6,120
ZMK
HIGH
9,610
ZMK

A person working as an Insurance Appraiser in Zambia typically earns around 6,120 ZMK per month. Salaries range from 2,940 ZMK (lowest) to 9,610 ZMK (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 Zambia

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

  • Salary Range

    Insurance Appraiser salaries in Zambia range from 2,940 ZMK per month (minimum salary) to 9,610 ZMK per month (maximum salary).

  • Median Salary

    The median salary is 6,370 ZMK per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 6,370 ZMK while the other half are earning more than 6,370 ZMK. 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 4,190 ZMK while 75% of them are earning more than 4,190 ZMK. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 8,310 ZMK while 25% are earning more than 8,310 ZMK.


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 Zambia 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 3,440 ZMK per month.

While someone with an experience level between two and five years is expected to earn 4,880 ZMK per month, 42% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 6,410 ZMK per month, 31% 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 7,880 ZMK per month, 23% 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 8,380 ZMK per month, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 9,180 ZMK per month, 10% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Zambia

0 - 2 Years
3,440 ZMK
2 - 5 Years+42%
4,880 ZMK
5 - 10 Years+31%
6,410 ZMK
10 - 15 Years+23%
7,880 ZMK
15 - 20 Years+6%
8,380 ZMK
20+ Years+10%
9,180 ZMK
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 Zambia 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 4,610 ZMK per month.

While someone with a Bachelor's Degree gets a salary of 8,750 ZMK per month, 90% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Zambia

Certificate or Diploma
4,610 ZMK
Bachelor's Degree+90%
8,750 ZMK
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 Zambia 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 Zambia earn 8% more than their female counterparts on average.

Male
6,440 ZMK
Female-7%
5,960 ZMK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Zambia for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Zambia are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Zambia 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.

Zambia / 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 Zambia is 2%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

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

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

86% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 14% 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
14%
No Bonus
86%

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 Zambia


35 ZMK per hour

The average hourly wage (pay per hour) in Zambia is 35 ZMK. This means that the average Insurance Appraiser in Zambia earns approximately 35 ZMK 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 Zambia
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The average salary for Insurance Appraiser is 2% 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 Analyst8,200 ZMK+34%
Actuarial Assistant5,440 ZMK-11%
Actuary7,780 ZMK+27%
Adjustment Insurance Clerk2,180 ZMK-64%
Assistant Broker3,980 ZMK-35%
Assistant Claims Manager6,670 ZMK+9%
Associate Insurance Representative3,210 ZMK-48%
Auditing Insurance Manager9,110 ZMK+49%
Broker5,890 ZMK-4%
Claim Advocacy Professional5,900 ZMK-4%
Claims Adjuster2,150 ZMK-65%
Claims Analyst3,140 ZMK-49%
Claims Examiner3,270 ZMK-47%
Claims Manager8,380 ZMK+37%
Claims Processor2,300 ZMK-62%
Claims Representative2,670 ZMK-56%
Claims Resolution Specialist6,620 ZMK+8%
Claims Supervisor5,780 ZMK-6%
Complaints Specialist5,790 ZMK-5%
Compliance Officer4,860 ZMK-21%
Consultant5,900 ZMK-4%
Eligibility Specialist6,110 ZMK-0%
Insurance Account Manager7,250 ZMK+18%
Insurance Accounts Executive6,220 ZMK+2%
Insurance Agent3,460 ZMK-44%
Insurance Analyst6,210 ZMK+1%
Insurance Appraiser6,120 ZMK-0%
Insurance Claims Clerk2,140 ZMK-65%
Insurance Examiner5,510 ZMK-10%
Insurance Investigator5,890 ZMK-4%
Insurance Manager10,300 ZMK+68%
Insurance Operations Manager10,800 ZMK+76%
Insurance Policy Processing Clerk2,200 ZMK-64%
Insurance Pricing Assistant4,850 ZMK-21%
Insurance Program Manager7,570 ZMK+24%
Insurance Project Manager7,530 ZMK+23%
Insurance Quality Assurance Agent5,120 ZMK-16%
Insurance Sales Agent3,660 ZMK-40%
Insurance Sales Director9,440 ZMK+54%
Insurance Team Leader6,670 ZMK+9%
Insurance Underwriter4,370 ZMK-29%
Loss Control Specialist5,650 ZMK-8%
Loss Prevention Investigator6,350 ZMK+4%
Loss Prevention Manager8,380 ZMK+37%
Loss Prevention Specialist6,400 ZMK+5%
Marine Underwriter4,340 ZMK-29%
Medical Auditor6,060 ZMK-1%
Monitoring and Performance Officer4,280 ZMK-30%
Payment Services Specialist6,120 ZMK-0%
Policy Change Director9,360 ZMK+53%
Policy Change Supervisor6,730 ZMK+10%
Policy Change Technician2,850 ZMK-53%
Risk Analyst6,470 ZMK+6%
Risk Management Director11,700 ZMK+91%
Risk Management Supervisor7,880 ZMK+29%
Risk Manager11,100 ZMK+81%
Risk Modeling Manager11,500 ZMK+88%
Title Insurance Typist5,090 ZMK-17%
Training Manager6,940 ZMK+13%

Salary Comparison By City

CityAverage Salary
Lusaka6,740 ZMK

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 Zambia earn 17% more than their private sector counterparts on average across all sectors.

Private Sector
5,580 ZMK
Public Sector+17%
6,540 ZMK
Percentage increase and decrease are relative to the previous value

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