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Insurance Average Salaries in China 2020

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

Average Monthly Salary
29,400 CNY
( 353,000 CNY yearly)


A person working in Insurance in China typically earns around 29,400 CNY per month. Salaries range from 10,900 CNY (lowest average) to 56,700 CNY (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 Analyst40,800 CNY
Actuarial Assistant27,200 CNY
Actuary38,300 CNY
Adjustment Insurance Clerk10,900 CNY
Assistant Broker19,200 CNY
Assistant Claims Manager30,300 CNY
Associate Insurance Representative15,700 CNY
Auditing Insurance Manager45,300 CNY
Broker29,300 CNY
Claim Advocacy Professional28,200 CNY
Claims Adjuster10,700 CNY
Claims Analyst15,700 CNY
Claims Examiner14,800 CNY
Claims Manager42,100 CNY
Claims Processor10,500 CNY
Claims Representative13,600 CNY
Claims Resolution Specialist31,700 CNY
Claims Supervisor29,200 CNY
Complaints Specialist25,900 CNY
Compliance Officer24,300 CNY
Consultant30,300 CNY
Eligibility Specialist30,800 CNY
Insurance Account Manager35,500 CNY
Insurance Accounts Executive31,100 CNY
Insurance Agent17,000 CNY
Insurance Analyst28,500 CNY
Insurance Appraiser29,800 CNY
Insurance Claims Clerk10,400 CNY
Insurance Examiner26,900 CNY
Insurance Investigator28,800 CNY
Insurance Manager50,000 CNY
Insurance Operations Manager50,100 CNY
Insurance Policy Processing Clerk10,800 CNY
Insurance Pricing Assistant22,400 CNY
Insurance Program Manager40,200 CNY
Insurance Project Manager38,700 CNY
Insurance Quality Assurance Agent25,700 CNY
Insurance Sales Agent18,000 CNY
Insurance Sales Director47,200 CNY
Insurance Team Leader31,700 CNY
Insurance Underwriter20,900 CNY
Loss Control Specialist27,400 CNY
Loss Prevention Investigator30,900 CNY
Loss Prevention Manager40,800 CNY
Loss Prevention Specialist31,200 CNY
Marine Underwriter21,900 CNY
Medical Auditor29,500 CNY
Monitoring and Performance Officer19,800 CNY
Payment Services Specialist29,800 CNY
Policy Change Director47,400 CNY
Policy Change Supervisor31,000 CNY
Policy Change Technician14,500 CNY
Risk Analyst33,100 CNY
Risk Management Director54,200 CNY
Risk Management Supervisor36,600 CNY
Risk Manager56,900 CNY
Risk Modeling Manager53,800 CNY
Title Insurance Typist26,200 CNY
Training Manager33,500 CNY

Insurance Jobs Salary Distribution in China

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

  • Salary Range

    Insurance salaries in China range from 10,900 CNY per month (minimum average salary) to 56,700 CNY per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 28,800 CNY per month, which means that half (50%) of people working in Insurance are earning less than 28,800 CNY while the other half are earning more than 28,800 CNY. 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 17,900 CNY while 75% of them are earning more than 17,900 CNY. Also from the diagram, 75% of people working in Insurance are earning less than 41,900 CNY while 25% are earning more than 41,900 CNY.

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
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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
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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 China costs anywhere from 146,000 Yuan Renminbi(s) to 439,000 Yuan Renminbi(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 China Insurance
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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 employees in China who work in Insurance earn 11% more than their female counterparts on average.

31,000 CNY
27,900 CNY
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in China for all Careers

Salary comparison by gender monthly China
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Insurance Average Annual Salary Increment Percentage in China

How much are annual salary increments in China for Insurance professionals? How often do employees get salary raises?


Insurance professionals in China are likely to observe a salary increase of approximately 10% every 14 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate China Insurance
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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.

China / 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 China is 7%.

Annual Increment Rate By Industry 2019

Information Technology

Listed above are the average annual increase rates for each industry in China 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 Bonus and Incentive Rates in China

How much and how often are bonuses being awarded?Annual Salary Bonus Rate China Insurance
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Insurance is considered to be a moderate bonus-based field 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.

47% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 53% 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
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Hourly Average Wage in China

170 CNY per hour

The average hourly wage (pay per hour) in China is 170 CNY. This means that the average person in China earns approximately 170 CNY 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 China
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The average salary for Insurance is 0% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Beijing33,700 CNY
Changchun28,100 CNY
Changsha26,700 CNY
Chengdu30,800 CNY
Chongqing34,100 CNY
Dalian27,800 CNY
Dongguan26,400 CNY
Foshan26,200 CNY
Fuzhou28,000 CNY
Guangzhou32,500 CNY
Hangzhou32,600 CNY
Harbin31,200 CNY
Jinan32,600 CNY
Kunming26,500 CNY
Nanjing29,400 CNY
Qingdao30,300 CNY
Quanzhou27,500 CNY
Shanghai31,800 CNY
Shantou28,700 CNY
Shenyang30,400 CNY
Shenzhen29,000 CNY
Suzhou28,300 CNY
Tianjin30,800 CNY
Wenzhou29,000 CNY
Wuhan33,600 CNY
Wuxi25,200 CNY
Xi an32,200 CNY
Xiamen27,000 CNY
Zhengzhou26,100 CNY

Salary Comparison By State

StateAverage Salary
Anhui30,400 CNY
Beijing25,000 CNY
Chongqing26,800 CNY
Fujian28,500 CNY
Gansu26,300 CNY
Guangdong32,500 CNY
Guangxi29,700 CNY
Guizhou27,200 CNY
Hainan24,700 CNY
Hebei31,200 CNY
Heilongjiang27,800 CNY
Henan32,100 CNY
Hubei30,500 CNY
Hunan31,100 CNY
Jiangsu31,700 CNY
Jiangxi29,400 CNY
Jilin26,900 CNY
Liaoning29,200 CNY
Nei Monggol26,300 CNY
Ningxia24,700 CNY
Qinghai24,400 CNY
Shaanxi28,400 CNY
Shandong32,800 CNY
Shanghai26,200 CNY
Shanxi28,000 CNY
Sichuan32,300 CNY
Tianjin25,400 CNY
Xinjiang Uygur26,000 CNY
Xizang [Tibet]24,300 CNY
Yunnan30,100 CNY
Zhejiang30,700 CNY

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 China earn 6% more than their private sector counterparts on average across all sectors.

Private Sector
28,500 CNY
Public Sector+6%
30,100 CNY
Percentage increase and decrease are relative to the previous value

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