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Insurance Average Salaries in China 2024

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


Average Monthly Salary
29,000 CNY
( 348,000 CNY yearly)

LOW
10,900
CNY
AVERAGE
29,000
CNY
HIGH
56,700
CNY
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 China typically earns around 29,000 CNY. Salaries range from 10,900 CNY (lowest average) to 56,700 CNY (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 China 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 Analyst40,800 CNY
Actuarial Assistant27,200 CNY
Actuarial Specialist28,800 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
Blockchain Insurance Auditor26,300 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 Examiner28,800 CNY
Compliance Officer24,300 CNY
Compliance Reviewer26,900 CNY
Consultant30,300 CNY
Drone Claims Adjuster12,800 CNY
Eligibility Interviewer30,400 CNY
Eligibility Specialist30,800 CNY
Insurance Account Manager35,500 CNY
Insurance Accounts Executive31,100 CNY
Insurance Adjuster28,100 CNY
Insurance Agent17,000 CNY
Insurance Analyst28,500 CNY
Insurance Appraiser29,800 CNY
Insurance Claims Clerk10,400 CNY
Insurance Compliance Officer32,700 CNY
Insurance Data Scientist27,900 CNY
Insurance Examiner26,900 CNY
Insurance Fraud Investigator23,800 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 Product Manager35,100 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 Sales Manager39,400 CNY
Insurance Sales Representative14,900 CNY
Insurance Team Leader31,700 CNY
Insurance Underwriter20,900 CNY
Insurtech Analyst26,000 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
Parametric Insurance Specialist29,200 CNY
Payment Services Specialist29,800 CNY
Peer-to-Peer Insurance Manager35,600 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
Social Media Risk Analyst30,100 CNY
Title Insurance Typist26,200 CNY
Training Manager33,500 CNY
Underwriting Assistant14,900 CNY


Insurance Jobs Pay Scale and Salaries in China

Median and salary distribution China Insurance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
28,900 CNY or more
10% of people earn
24,400 to 28,900 CNY
20% of people earn
14,400 CNY or less
65% of people earn
14,400 to 24,400 CNY
Minimum Salary
10,900 CNY
Median
26,000 CNY
Maximum
56,700 CNY




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 China range from 10,900 CNY (starting average salary) to 56,700 CNY (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 26,000 CNY, implying that half of the workforce in China 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 China earn less than 20,100 CNY, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 31,500 CNY, 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 China. The analysis revealed that roughly 65% of all reported salaries fell within the range of 14,400 CNY to 24,400 CNY. Approximately 20% of salaries were below the 14,400 CNY mark, while 10% ranged from 24,400 CNY to 28,900 CNY. Only 5% of individuals earned a gross salary of 28,900 CNY or higher.

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 in Insurance in China 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
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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 China, 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 China costs anywhere from 147,000 CNY to 441,000 CNY 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 / China

Salary comparison by gender China Insurance monthly
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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? In the field of Insurance in China, the average difference between the salary of male and female employees is 11%.

Male
30,700 CNY
Female-10%
27,500 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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Average Annual Salary Increment Percentage / Insurance / China

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

Professionals working in Insurance 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

Annual Salary Increment Rate China
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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 China is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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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 / China

How much and how often are bonuses being awarded?Annual Salary Bonus Rate China Insurance
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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
53%
No Bonus
47%

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 / China


170 CNY per hour

The average hourly wage (pay per hour) in Insurance in China is 170 CNY.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 China is 63 CNY. 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
Beijing33,300 CNY
Changchun27,700 CNY
Changsha26,400 CNY
Chengdu30,400 CNY
Chongqing33,700 CNY
Dalian27,500 CNY
Dongguan26,100 CNY
Foshan25,900 CNY
Fuzhou27,700 CNY
Guangzhou32,100 CNY
Hangzhou32,300 CNY
Harbin30,900 CNY
Jinan32,300 CNY
Kunming26,200 CNY
Nanjing29,100 CNY
Qingdao29,900 CNY
Quanzhou27,200 CNY
Shanghai31,400 CNY
Shantou28,400 CNY
Shenyang30,100 CNY
Shenzhen28,700 CNY
Suzhou28,000 CNY
Tianjin30,500 CNY
Wenzhou28,600 CNY
Wuhan33,200 CNY
Wuxi24,900 CNY
Xi an31,800 CNY
Xiamen26,700 CNY
Zhengzhou25,800 CNY

Salary Comparison By State

StateAverage Salary
Anhui30,000 CNY
Beijing24,700 CNY
Chongqing26,400 CNY
Fujian28,100 CNY
Gansu25,900 CNY
Guangdong32,100 CNY
Guangxi29,300 CNY
Guizhou26,900 CNY
Hainan24,400 CNY
Hebei30,800 CNY
Heilongjiang27,500 CNY
Henan31,700 CNY
Hubei30,100 CNY
Hunan30,700 CNY
Jiangsu31,300 CNY
Jiangxi29,100 CNY
Jilin26,500 CNY
Liaoning28,800 CNY
Nei Monggol26,000 CNY
Ningxia24,400 CNY
Qinghai24,100 CNY
Shaanxi28,100 CNY
Shandong32,400 CNY
Shanghai25,900 CNY
Shanxi27,600 CNY
Sichuan31,900 CNY
Tianjin25,100 CNY
Xinjiang Uygur25,700 CNY
Xizang [Tibet]24,000 CNY
Yunnan29,800 CNY
Zhejiang30,400 CNY

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 China is 6% on average across all career fields.

Private Sector
28,600 CNY
Public Sector+6%
30,300 CNY
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 China?

A good and competitive compensation would range anywhere between 26,000 CNY and 31,500 CNY. 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 China ranges from 10,900 CNY to 20,100 CNY. 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


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