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Insurance Appraiser Average Salary in Canada 2020

How much money does an Insurance Appraiser make in Canada?


Average Yearly Salary
123,000 CAD
( 10,200 CAD monthly)

LOW
62,700
CAD
AVERAGE
123,000
CAD
HIGH
189,000
CAD

A person working as an Insurance Appraiser in Canada typically earns around 123,000 CAD per year. Salaries range from 62,700 CAD (lowest) to 189,000 CAD (highest).

This is the average yearly 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 Canada

Median and salary distribution yearly Canada Insurance Appraiser
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance Appraiser salaries in Canada range from 62,700 CAD per year (minimum salary) to 189,000 CAD per year (maximum salary).

  • Median Salary

    The median salary is 120,000 CAD per year, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 120,000 CAD while the other half are earning more than 120,000 CAD. 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 82,400 CAD while 75% of them are earning more than 82,400 CAD. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 152,000 CAD while 25% are earning more than 152,000 CAD.


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 yearly Canada 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 70,300 CAD per year.

While someone with an experience level between two and five years is expected to earn 91,800 CAD per year, 31% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 129,000 CAD per year, 40% 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 155,000 CAD per year, 20% 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 168,000 CAD per year, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 181,000 CAD per year, 8% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Canada

0 - 2 Years
70,300 CAD
2 - 5 Years+31%
91,800 CAD
5 - 10 Years+40%
129,000 CAD
10 - 15 Years+20%
155,000 CAD
15 - 20 Years+9%
168,000 CAD
20+ Years+8%
181,000 CAD
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 yearly Canada 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 83,000 CAD per year.

While someone with a Bachelor's Degree gets a salary of 150,000 CAD per year, 81% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Canada

Certificate or Diploma
83,000 CAD
Bachelor's Degree+81%
150,000 CAD
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 yearly Canada 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 Canada earn 5% more than their female counterparts on average.

Male
126,000 CAD
Female-5%
120,000 CAD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Canada for all Careers

Salary comparison by gender yearly Canada
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Insurance Appraiser Average Annual Salary Increment Percentage in Canada

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

Insurance Appraiser

Insurance Appraiser(s) in Canada are likely to observe a salary increase of approximately 12% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Canada 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.

Canada / 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 Canada is 7%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

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

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

69% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 31% 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
31%
No Bonus
69%

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 Canada


59 CAD per hour

The average hourly wage (pay per hour) in Canada is 59 CAD. This means that the average Insurance Appraiser in Canada earns approximately 59 CAD 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 yearly Canada
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The average salary for Insurance Appraiser is 3% 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 Analyst157,000 CAD+28%
Actuarial Assistant115,000 CAD-6%
Actuary168,000 CAD+37%
Adjustment Insurance Clerk46,400 CAD-62%
Assistant Broker73,400 CAD-40%
Assistant Claims Manager125,000 CAD+2%
Associate Insurance Representative63,100 CAD-49%
Auditing Insurance Manager174,000 CAD+42%
Broker125,000 CAD+2%
Claim Advocacy Professional122,000 CAD-1%
Claims Adjuster45,300 CAD-63%
Claims Analyst65,800 CAD-46%
Claims Examiner61,900 CAD-50%
Claims Manager174,000 CAD+42%
Claims Processor43,100 CAD-65%
Claims Representative54,500 CAD-56%
Claims Resolution Specialist137,000 CAD+11%
Claims Supervisor120,000 CAD-2%
Complaints Specialist113,000 CAD-8%
Compliance Officer102,000 CAD-17%
Consultant117,000 CAD-5%
Eligibility Specialist126,000 CAD+2%
Insurance Account Manager143,000 CAD+16%
Insurance Accounts Executive131,000 CAD+7%
Insurance Agent74,900 CAD-39%
Insurance Analyst115,000 CAD-6%
Insurance Appraiser123,000 CAD+0%
Insurance Claims Clerk42,800 CAD-65%
Insurance Examiner110,000 CAD-11%
Insurance Investigator117,000 CAD-5%
Insurance Manager205,000 CAD+67%
Insurance Operations Manager215,000 CAD+75%
Insurance Policy Processing Clerk43,400 CAD-65%
Insurance Pricing Assistant97,700 CAD-21%
Insurance Program Manager156,000 CAD+27%
Insurance Project Manager149,000 CAD+21%
Insurance Quality Assurance Agent106,000 CAD-14%
Insurance Sales Agent72,100 CAD-41%
Insurance Sales Director199,000 CAD+62%
Insurance Team Leader127,000 CAD+3%
Insurance Underwriter90,700 CAD-26%
Loss Control Specialist114,000 CAD-7%
Loss Prevention Investigator128,000 CAD+4%
Loss Prevention Manager168,000 CAD+37%
Loss Prevention Specialist127,000 CAD+3%
Marine Underwriter89,600 CAD-27%
Medical Auditor121,000 CAD-2%
Monitoring and Performance Officer85,500 CAD-30%
Payment Services Specialist123,000 CAD+0%
Policy Change Director191,000 CAD+55%
Policy Change Supervisor137,000 CAD+11%
Policy Change Technician57,700 CAD-53%
Risk Analyst130,000 CAD+6%
Risk Management Director234,000 CAD+90%
Risk Management Supervisor157,000 CAD+28%
Risk Manager220,000 CAD+79%
Risk Modeling Manager228,000 CAD+85%
Title Insurance Typist101,000 CAD-18%
Training Manager128,000 CAD+4%

Salary Comparison By City

CityAverage Salary
Brampton120,000 CAD
Calgary133,000 CAD
Edmonton126,000 CAD
Gatineau116,000 CAD
Halifax116,000 CAD
Hamilton128,000 CAD
Kitchener123,000 CAD
Markham116,000 CAD
Mississauga125,000 CAD
Montreal130,000 CAD
Ottawa133,000 CAD
Quebec128,000 CAD
Regina113,000 CAD
Richmond105,000 CAD
Saskatoon108,000 CAD
Surrey116,000 CAD
Toronto133,000 CAD
Vancouver133,000 CAD
Vaughan119,000 CAD
Windsor112,000 CAD
Winnipeg125,000 CAD

Salary Comparison By State

StateAverage Salary
Alberta133,000 CAD
British Columbia129,000 CAD
Manitoba129,000 CAD
New Brunswick118,000 CAD
Newfoundland-Labrador110,000 CAD
Northwest Territories128,000 CAD
Nova Scotia114,000 CAD
Nunavut132,000 CAD
Ontario135,000 CAD
Prince Edward Island110,000 CAD
Quebec133,000 CAD
Saskatchewan122,000 CAD
Yukon106,000 CAD

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 Canada earn 4% more than their private sector counterparts on average across all sectors.

Private Sector
117,000 CAD
Public Sector+4%
122,000 CAD
Percentage increase and decrease are relative to the previous value

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