Compare Your Salary
Average Salaries
Best Paying Jobs
Salary Increase Letter
Career Articles
Cost of Living Calculator

Insurance Average Salaries in Botswana 2020

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

Average Monthly Salary
11,800 BWP
( 141,000 BWP yearly)


A person working in Insurance in Botswana typically earns around 11,800 BWP per month. Salaries range from 7,860 BWP (lowest average) to 17,500 BWP (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst13,800 BWP
Actuarial Assistant11,200 BWP
Actuary14,000 BWP
Adjustment Insurance Clerk8,280 BWP
Assistant Broker10,800 BWP
Assistant Claims Manager12,900 BWP
Associate Insurance Representative9,020 BWP
Auditing Insurance Manager17,100 BWP
Broker12,400 BWP
Claim Advocacy Professional12,000 BWP
Claims Adjuster8,220 BWP
Claims Analyst9,210 BWP
Claims Examiner9,620 BWP
Claims Manager13,900 BWP
Claims Processor8,770 BWP
Claims Representative9,020 BWP
Claims Resolution Specialist13,300 BWP
Claims Supervisor12,200 BWP
Complaints Specialist11,500 BWP
Compliance Officer9,810 BWP
Consultant12,000 BWP
Eligibility Specialist11,500 BWP
Insurance Account Manager13,500 BWP
Insurance Accounts Executive12,800 BWP
Insurance Agent10,000 BWP
Insurance Analyst11,500 BWP
Insurance Appraiser12,300 BWP
Insurance Claims Clerk8,060 BWP
Insurance Examiner10,800 BWP
Insurance Investigator11,400 BWP
Insurance Manager15,600 BWP
Insurance Operations Manager15,000 BWP
Insurance Policy Processing Clerk8,930 BWP
Insurance Pricing Assistant10,500 BWP
Insurance Program Manager13,500 BWP
Insurance Project Manager13,800 BWP
Insurance Quality Assurance Agent10,500 BWP
Insurance Sales Agent9,020 BWP
Insurance Sales Director14,400 BWP
Insurance Team Leader12,800 BWP
Insurance Underwriter9,950 BWP
Loss Control Specialist11,500 BWP
Loss Prevention Investigator12,800 BWP
Loss Prevention Manager13,600 BWP
Loss Prevention Specialist12,500 BWP
Marine Underwriter11,900 BWP
Medical Auditor12,000 BWP
Monitoring and Performance Officer9,480 BWP
Payment Services Specialist12,300 BWP
Policy Change Director15,200 BWP
Policy Change Supervisor13,400 BWP
Policy Change Technician9,350 BWP
Risk Analyst13,400 BWP
Risk Management Director16,400 BWP
Risk Management Supervisor13,200 BWP
Risk Manager16,200 BWP
Risk Modeling Manager16,500 BWP
Title Insurance Typist10,300 BWP
Training Manager13,400 BWP

Insurance Jobs Salary Distribution in Botswana

Median and salary distribution monthly Botswana Insurance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/botswana/insurance/median-and-salary-distribution-monthly-botswana-insurance.jpg

The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance salaries in Botswana range from 7,860 BWP per month (minimum average salary) to 17,500 BWP per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 11,800 BWP per month, which means that half (50%) of people working in Insurance are earning less than 11,800 BWP while the other half are earning more than 11,800 BWP. 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 people working in Insurance are earning less than 8,840 BWP while 75% of them are earning more than 8,840 BWP. Also from the diagram, 75% of people working in Insurance are earning less than 14,600 BWP while 25% are earning more than 14,600 BWP.

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

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

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 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.

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.

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.

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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

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 degrees levels across many jobs, below are our findings.

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.

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 cerificate 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 Botswana costs anywhere from 59,200 Pula(s) to 178,000 Pula(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you 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 into 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 your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Insurance Salary Comparison By Gender

Salary comparison by gender monthly Botswana Insurance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/botswana/insurance/salary-comparison-by-gender-monthly-botswana-insurance.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees earn 8% more than their female counterparts.

11,300 BWP
12,200 BWP
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Botswana for all Careers

Salary comparison by gender monthly Botswana
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/botswana/salary-comparison-by-gender-monthly-botswana.jpg

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Botswana
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/botswana/public-vs-private-sector-salaries-monthly-botswana.jpg

Where can you get paid more, working for a private company or for the government? Public sector employees in Botswana earn 11% more than their private sector counterparts.

Private Sector
11,100 BWP
Public Sector+11%
12,300 BWP
Percentage increase and decrease are relative to the previous value

Insurance Salary Forecast and Trend in Botswana

How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Botswana Insurance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/botswana/insurance/salary-trends-and-forecast-monthly-botswana-insurance.jpg
Average Salary 2016
10,600 BWP
Average Salary 2017+4%
11,000 BWP
Average Salary 2018+2%
11,300 BWP
Average Salary 2019+1%
11,500 BWP
Percentage increase and decrease are relative to the previous value

Insurance salaries in Botswana are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 1% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Insurance Hourly Average Wage in Botswana

68 BWP per hour

The average hourly wage (pay per hour) in Botswana is 68 BWP. This means that the average person in Botswana earns approximately 68 BWP 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 VS Other Jobs

Salary Comparison Between Insurance and Insurance monthly Botswana
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/botswana/insurance/salary-comparison-between-insurance-and-insurance-monthly-botswana.jpg

The average salary for Insurance is 0% less than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Gaborone14,500 BWP
26458 - 2

Cost of Living Calculator

Salary Calculator

Salary Increase Letters

Cost of Living Comparison

Career Articles

Best Paying Jobs
HomePrivacy PolicySalary Comparison

©Salary Explorer 2018