HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Insurance Average Salaries in Brazil 2024

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


Average Monthly Salary
8,480 BRL
( 102,000 BRL yearly)

LOW
3,190
BRL
AVERAGE
8,480
BRL
HIGH
16,600
BRL
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 Brazil typically earns around 8,480 BRL. Salaries range from 3,190 BRL (lowest average) to 16,600 BRL (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 Brazil 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 Analyst11,500 BRL
Actuarial Assistant8,320 BRL
Actuarial Specialist8,680 BRL
Actuary11,700 BRL
Adjustment Insurance Clerk3,090 BRL
Assistant Broker5,530 BRL
Assistant Claims Manager9,710 BRL
Associate Insurance Representative4,410 BRL
Auditing Insurance Manager12,700 BRL
Blockchain Insurance Auditor8,220 BRL
Broker8,340 BRL
Claim Advocacy Professional8,600 BRL
Claims Adjuster3,280 BRL
Claims Analyst4,730 BRL
Claims Examiner4,410 BRL
Claims Manager12,400 BRL
Claims Processor3,350 BRL
Claims Representative3,710 BRL
Claims Resolution Specialist9,520 BRL
Claims Supervisor8,320 BRL
Complaints Specialist7,700 BRL
Compliance Examiner7,900 BRL
Compliance Officer7,320 BRL
Compliance Reviewer8,040 BRL
Consultant8,320 BRL
Drone Claims Adjuster4,020 BRL
Eligibility Interviewer9,040 BRL
Eligibility Specialist8,690 BRL
Insurance Account Manager11,200 BRL
Insurance Accounts Executive9,520 BRL
Insurance Adjuster8,290 BRL
Insurance Agent5,200 BRL
Insurance Analyst8,730 BRL
Insurance Appraiser8,950 BRL
Insurance Claims Clerk3,090 BRL
Insurance Compliance Officer9,780 BRL
Insurance Data Scientist8,220 BRL
Insurance Examiner7,860 BRL
Insurance Fraud Investigator6,920 BRL
Insurance Investigator8,320 BRL
Insurance Manager14,800 BRL
Insurance Operations Manager15,400 BRL
Insurance Policy Processing Clerk3,380 BRL
Insurance Pricing Assistant7,170 BRL
Insurance Product Manager10,100 BRL
Insurance Program Manager11,900 BRL
Insurance Project Manager10,600 BRL
Insurance Quality Assurance Agent7,540 BRL
Insurance Sales Agent5,040 BRL
Insurance Sales Director14,400 BRL
Insurance Sales Manager11,600 BRL
Insurance Sales Representative4,550 BRL
Insurance Team Leader9,120 BRL
Insurance Underwriter6,370 BRL
Insurtech Analyst8,140 BRL
Loss Control Specialist8,370 BRL
Loss Prevention Investigator9,280 BRL
Loss Prevention Manager12,100 BRL
Loss Prevention Specialist9,130 BRL
Marine Underwriter6,240 BRL
Medical Auditor8,750 BRL
Monitoring and Performance Officer6,180 BRL
Parametric Insurance Specialist8,970 BRL
Payment Services Specialist8,950 BRL
Peer-to-Peer Insurance Manager11,000 BRL
Policy Change Director13,000 BRL
Policy Change Supervisor9,240 BRL
Policy Change Technician4,270 BRL
Risk Analyst9,460 BRL
Risk Management Director16,900 BRL
Risk Management Supervisor11,200 BRL
Risk Manager15,600 BRL
Risk Modeling Manager16,100 BRL
Social Media Risk Analyst9,010 BRL
Title Insurance Typist7,180 BRL
Training Manager9,640 BRL
Underwriting Assistant4,240 BRL


Insurance Jobs Pay Scale and Salaries in Brazil

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

Salary Structure and Pay Scale Comparison

5% of people earn
8,620 BRL or more
10% of people earn
7,270 to 8,620 BRL
20% of people earn
4,300 BRL or less
65% of people earn
4,300 to 7,270 BRL
Minimum Salary
3,190 BRL
Median
7,770 BRL
Maximum
16,600 BRL




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 Brazil range from 3,190 BRL (starting average salary) to 16,600 BRL (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 7,770 BRL, implying that half of the workforce in Brazil 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 Brazil earn less than 6,000 BRL, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 9,380 BRL, 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 Brazil. The analysis revealed that roughly 65% of all reported salaries fell within the range of 4,300 BRL to 7,270 BRL. Approximately 20% of salaries were below the 4,300 BRL mark, while 10% ranged from 7,270 BRL to 8,620 BRL. Only 5% of individuals earned a gross salary of 8,620 BRL or higher.

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

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 Brazil, 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 Brazil costs anywhere from 43,000 BRL to 129,000 BRL 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 / Brazil

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

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 Brazil, the average difference between the salary of male and female employees is 10%.

Male
8,800 BRL
Female-9%
8,020 BRL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Brazil for all Careers

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

Average Annual Salary Increment Percentage / Insurance / Brazil

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

Professionals working in Insurance in Brazil are likely to observe a salary increase of approximately 10% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.

Annual Salary Increment Rate Brazil Insurance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/brazil/insurance/annual-salary-increment-rate-brazil-insurance.jpg


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.

Brazil / All Professions

Annual Salary Increment Rate Brazil
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/brazil/annual-salary-increment-rate-brazil.jpg

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 Brazil is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

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 / Brazil

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Brazil Insurance
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/brazil/insurance/annual-salary-bonus-rate-brazil-insurance.jpg

46% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 54% 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
54%
No Bonus
46%

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 / Brazil


49 BRL per hour

The average hourly wage (pay per hour) in Insurance in Brazil is 49 BRL.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 Brazil is 18 BRL. 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
Aracaju8,490 BRL
Belem9,180 BRL
Belo Horizonte9,460 BRL
Brasilia9,770 BRL
Campinas8,910 BRL
Cuiaba8,380 BRL
Curitiba9,340 BRL
Fortaleza9,590 BRL
Goiania9,100 BRL
Joao Pessoa8,550 BRL
Londrina8,320 BRL
Macapa8,250 BRL
Maceio8,800 BRL
Manaus9,470 BRL
Maringa7,970 BRL
Natal8,700 BRL
Petrolina and Juazeiro7,770 BRL
Porto Alegre8,950 BRL
Recife9,230 BRL
Rio de Janeiro9,800 BRL
Salvador9,660 BRL
Santos7,980 BRL
Sao Luis8,880 BRL
Sao Paulo9,880 BRL
Teresina8,630 BRL
Vale do Aco8,150 BRL
Vitoria7,790 BRL

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 Brazil is 6% on average across all career fields.

Private Sector
8,360 BRL
Public Sector+6%
8,880 BRL
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 Brazil?

A good and competitive compensation would range anywhere between 7,770 BRL and 9,380 BRL. 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 Brazil ranges from 3,190 BRL to 6,000 BRL. 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


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison Arabic Spanish

©Salary Explorer 2024