Insurance Average Salaries in Buenos Aires 2023
How much money does a person working in Insurance make in Buenos Aires?
LOW
19,300
ARS AVERAGE
52,200
ARS HIGH
101,000
ARS
A person working in Insurance in Buenos Aires typically earns around 52,200 ARS per month. Salaries range from 19,300 ARS (lowest average) to 101,000 ARS (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 Title | Average Salary |
| Actuarial Analyst | 69,600 ARS |
| Actuarial Assistant | 46,800 ARS |
| Actuary | 67,600 ARS |
| Adjustment Insurance Clerk | 18,300 ARS |
| Assistant Broker | 31,900 ARS |
| Assistant Claims Manager | 57,500 ARS |
| Associate Insurance Representative | 26,100 ARS |
| Auditing Insurance Manager | 77,400 ARS |
| Broker | 52,000 ARS |
| Claim Advocacy Professional | 49,600 ARS |
| Claims Adjuster | 18,500 ARS |
| Claims Analyst | 27,400 ARS |
| Claims Examiner | 26,100 ARS |
| Claims Manager | 75,000 ARS |
| Claims Processor | 18,900 ARS |
| Claims Representative | 21,900 ARS |
| Claims Resolution Specialist | 56,400 ARS |
| Claims Supervisor | 53,100 ARS |
| Complaints Specialist | 49,100 ARS |
| Compliance Officer | 40,300 ARS |
| Consultant | 53,100 ARS |
| Eligibility Specialist | 51,500 ARS |
| Insurance Account Manager | 64,500 ARS |
| Insurance Accounts Executive | 56,400 ARS |
| Insurance Agent | 31,600 ARS |
| Insurance Analyst | 53,000 ARS |
| Insurance Appraiser | 54,300 ARS |
| Insurance Claims Clerk | 19,300 ARS |
| Insurance Examiner | 45,300 ARS |
| Insurance Investigator | 49,300 ARS |
| Insurance Manager | 87,800 ARS |
| Insurance Operations Manager | 91,200 ARS |
| Insurance Policy Processing Clerk | 18,600 ARS |
| Insurance Pricing Assistant | 39,400 ARS |
| Insurance Program Manager | 65,400 ARS |
| Insurance Project Manager | 67,700 ARS |
| Insurance Quality Assurance Agent | 45,800 ARS |
| Insurance Sales Agent | 31,400 ARS |
| Insurance Sales Director | 81,300 ARS |
| Insurance Team Leader | 56,700 ARS |
| Insurance Underwriter | 36,800 ARS |
| Loss Control Specialist | 52,100 ARS |
| Loss Prevention Investigator | 53,600 ARS |
| Loss Prevention Manager | 71,700 ARS |
| Loss Prevention Specialist | 55,500 ARS |
| Marine Underwriter | 39,800 ARS |
| Medical Auditor | 51,800 ARS |
| Monitoring and Performance Officer | 37,500 ARS |
| Payment Services Specialist | 51,700 ARS |
| Policy Change Director | 80,900 ARS |
| Policy Change Supervisor | 53,300 ARS |
| Policy Change Technician | 25,300 ARS |
| Risk Analyst | 58,900 ARS |
| Risk Management Director | 97,600 ARS |
| Risk Management Supervisor | 66,600 ARS |
| Risk Manager | 94,800 ARS |
| Risk Modeling Manager | 100,000 ARS |
| Title Insurance Typist | 43,600 ARS |
| Training Manager | 55,700 ARS |
Insurance Jobs Pay Scale and Salaries in Buenos Aires
Salary Structure and Pay Scale Comparison
51,800 ARS or more
43,700 to 51,800 ARS
25,800 ARS or less
25,800 to 43,700 ARS
 19,300 ARS |
47,200 ARS |
101,000 ARS |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Insurance salaries in Buenos Aires range from 19,300 ARS per month (starting average salary) to 101,000 ARS per month (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
Median Salary
The median salary is 47,200 ARS per month, which means that half (50%) of people working in Insurance are earning less than 47,200 ARS while the other half are earning more than 47,200 ARS. 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 and Salary Scale
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 36,400 ARS while 75% of them are earning more than 36,400 ARS. Also from the diagram, 75% of people working in Insurance are earning less than 57,000 ARS while 25% are earning more than 57,000 ARS.
Pay Scale Structure
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 25,800 ARS to 43,700 ARS. Approximatly 20% fall under the 25,800 ARS cap. Ten percent of wages are from 43,700 ARS to 51,800 ARS. Only 5% of people grossed 51,800 ARS or more.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
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.
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.
Salary Comparison By Education
How does the education level affect your salary?
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.
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 Argentina costs anywhere from 226,000 Argentine Peso(s) to 677,000 Argentine Peso(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.
Salary and Compensation Comparison By Gender - Insurance
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Argentina who work in Insurance earn 5% more than their female counterparts on average.
| Male | 46,300 ARS | |
| Female | -5% | 44,100 ARS |
Salary Comparison By Gender in Argentina for all Careers
Insurance Average Annual Salary Increment Percentage in Argentina
How much are annual salary increments in Argentina for Insurance professionals? How often do employees get salary raises?
Insurance
Insurance professionals in Argentina are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
Argentina / 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
Annual Increment Rate By Industry 2022
| Banking | 1% | |
| Energy | 2% | |
| Information Technology | 3% | |
| Healthcare | 4% | |
| Travel | 5% | |
| Construction | 6% | |
| Education | 7% |
Listed above are the average annual increase rates for each industry in Argentina for the year 2022. 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
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.
Insurance Bonus and Incentive Rates in Argentina
How much and how often are bonuses being awarded?
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Insurance is considered to be a moderate bonus-based field. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
49% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 51% 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 | 51% | |
| No Bonus | 49% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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 Salary Forecast and Trend in Argentina
How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 41,300 ARS | |
| Average Salary 2020 | +3% | 42,400 ARS |
| Average Salary 2021 | +2% | 43,100 ARS |
| Average Salary 2022 | +3% | 44,400 ARS |
Insurance salaries in Argentina are rising in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 3% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
Insurance Hourly Average Wage in Buenos Aires
300 ARS per hourThe average hourly wage (pay per hour) in Buenos Aires is 300 ARS. This means that the average person in Buenos Aires earns approximately 300 ARS for every worked hour.
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 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.
What is the minimum hourly rate of pay?
This minimum pay rate per hour for a person in Buenos Aires is 110 ARS. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Insurance VS Other Jobs
The average salary for Insurance is 0% more than that of All Jobs.
Buenos Aires VS Argentina
Salary Comparison By City
| City | Average Salary |
| Avellaneda | 45,700 ARS |
| Bahia Blanca | 48,600 ARS |
| Buenos Aires | 52,200 ARS |
| Cordoba | 51,700 ARS |
| Corrientes | 49,000 ARS |
| La Plata | 50,900 ARS |
| Lanus | 46,300 ARS |
| Mar del Plata | 50,600 ARS |
| Mendoza | 44,700 ARS |
| Neuquen | 47,000 ARS |
| Quilmes | 46,700 ARS |
| Resistencia | 47,900 ARS |
| Rosario | 51,300 ARS |
| Salta | 49,700 ARS |
| San Juan | 44,500 ARS |
| San Miguel de Tucuman | 50,000 ARS |
| Santa Fe | 49,200 ARS |
| Santiago del Estero | 47,500 ARS |
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 Argentina earn 7% more than their private sector counterparts on average across all sectors.
| Private Sector | 43,600 ARS | |
| Public Sector | +7% | 46,400 ARS |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for Insurance in Buenos Aires?
A good and competitive compensation would range anywhere between 47,200 ARS and 57,000 ARS. This is a very rough estimate and your experience and education will play a very huge part into your 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 salart after tax for every career.
Base / Basic Salary
The base salary for Insurance in Buenos Aires is ranges from 36,400 ARS to 57,000 ARS. 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 in 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 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
