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Insurance Appraiser Average Salary in Cyprus 2024

How much money does a person working as Insurance Appraiser make in Cyprus?


Average Monthly Salary
2,150 EUR
( 25,800 EUR yearly)

LOW
1,100
EUR
AVERAGE
2,150
EUR
HIGH
3,310
EUR
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 as Insurance Appraiser in Cyprus typically earns around 2,150 EUR. Salaries range from 1,100 EUR (lowest) to 3,310 EUR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Insurance Appraiser salaries in Cyprus vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Insurance Appraiser Pay Scale and Salaries in Cyprus

Median and salary distribution Cyprus Insurance Appraiser monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
1,960 EUR or more
10% of people earn
1,740 to 1,960 EUR
20% of people earn
1,260 EUR or less
65% of people earn
1,260 to 1,740 EUR
Minimum Salary
1,100 EUR
Median
1,970 EUR
Maximum
3,310 EUR




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 for the position Insurance Appraiser in Cyprus range from 1,100 EUR (starting salary) to 3,310 EUR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 1,970 EUR, half of the professionals who work as Insurance Appraiser in Cyprus earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Insurance Appraiser in Cyprus earn less than 1,630 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 2,240 EUR while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Insurance Appraiser in Cyprus compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,260 EUR to 1,740 EUR. About 20% of salaries are below the 1,260 EUR mark, while 10% fall within the range of 1,740 EUR to 1,960 EUR. Only 5% of individuals have salaries exceeding 1,960 EUR.

Salary Comparison by Years of Experience / Insurance Appraiser / Cyprus

How do experience and age affect pay?

0 - 2 Years
1,230 EUR
2 - 5 Years+31%
1,600 EUR
5 - 10 Years+40%
2,250 EUR
10 - 15 Years+20%
2,700 EUR
15 - 20 Years+9%
2,930 EUR
20+ Years+8%
3,160 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Cyprus 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 the wage. We broke down salaries by experience level for people working as Insurance Appraiser and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 1,230 EUR.

While someone with an experience level between two and five years is expected to earn 1,600 EUR, 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 2,250 EUR, 40% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,700 EUR, 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 2,930 EUR, 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 3,160 EUR, 8% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Insurance Appraiser / Cyprus

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Insurance Appraiser.

Certificate or Diploma
1,450 EUR
Bachelor's Degree+81%
2,620 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Cyprus 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 salaries by education level for the position Insurance Appraiser in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 1,450 EUR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 2,620 EUR, 81% more than the previous level.



Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Insurance Appraiser / Cyprus

Salary comparison by gender Cyprus Insurance Appraiser 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? For the people who work as Insurance Appraiser in Cyprus, the average difference between the salary of male and female employees is 7%.

Male
2,220 EUR
Female-7%
2,080 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Cyprus for all Careers

Salary comparison by gender monthly Cyprus
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Average Annual Salary Increment Percentage / Insurance Appraiser / Cyprus

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

Individuals working as Insurance Appraiser in Cyprus are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Cyprus 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.

Cyprus / All Professions

Annual Salary Increment Rate Cyprus
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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 Cyprus is 2%.

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 Appraiser / Cyprus

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Cyprus Insurance Appraiser
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89% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 11% 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
11%
No Bonus
89%

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.

Average Hourly Wage / Insurance Appraiser / Cyprus


12 EUR per hour

The average hourly wage (pay per hour) for individuals working as Insurance Appraiser in Cyprus is 12 EUR.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 as Insurance Appraiser in Cyprus is 6 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Insurance-100%
Actuarial Analyst2,780 EUR+29%
Actuarial Assistant2,070 EUR-4%
Actuarial Specialist2,010 EUR-6%
Actuary2,970 EUR+38%
Adjustment Insurance Clerk810 EUR-62%
Assistant Broker1,320 EUR-39%
Assistant Claims Manager2,430 EUR+13%
Associate Insurance Representative1,090 EUR-49%
Auditing Insurance Manager3,090 EUR+44%
Blockchain Insurance Auditor2,050 EUR-5%
Broker2,180 EUR+2%
Claim Advocacy Professional2,260 EUR+5%
Claims Adjuster820 EUR-62%
Claims Analyst1,100 EUR-49%
Claims Examiner1,160 EUR-46%
Claims Manager3,010 EUR+40%
Claims Processor840 EUR-61%
Claims Representative930 EUR-57%
Claims Resolution Specialist2,330 EUR+9%
Claims Supervisor2,140 EUR-0%
Complaints Specialist2,060 EUR-4%
Compliance Examiner1,950 EUR-9%
Compliance Officer1,700 EUR-21%
Compliance Reviewer2,040 EUR-5%
Consultant2,050 EUR-5%
Drone Claims Adjuster990 EUR-54%
Eligibility Interviewer2,370 EUR+10%
Eligibility Specialist2,070 EUR-4%
Insurance Account Manager2,690 EUR+25%
Insurance Accounts Executive2,370 EUR+10%
Insurance Adjuster1,950 EUR-9%
Insurance Agent1,320 EUR-39%
Insurance Analyst2,140 EUR-0%
Insurance Appraiser2,150 EUR+0%
Insurance Claims Clerk760 EUR-65%
Insurance Compliance Officer2,480 EUR+16%
Insurance Data Scientist1,930 EUR-10%
Insurance Examiner1,990 EUR-7%
Insurance Fraud Investigator1,850 EUR-14%
Insurance Investigator1,950 EUR-9%
Insurance Manager3,650 EUR+70%
Insurance Operations Manager3,700 EUR+72%
Insurance Policy Processing Clerk810 EUR-62%
Insurance Pricing Assistant1,760 EUR-18%
Insurance Product Manager2,490 EUR+16%
Insurance Program Manager2,700 EUR+26%
Insurance Project Manager2,620 EUR+22%
Insurance Quality Assurance Agent1,840 EUR-14%
Insurance Sales Agent1,250 EUR-42%
Insurance Sales Director3,600 EUR+68%
Insurance Sales Manager2,730 EUR+27%
Insurance Sales Representative1,150 EUR-46%
Insurance Team Leader2,220 EUR+3%
Insurance Underwriter1,670 EUR-22%
Insurtech Analyst2,070 EUR-4%
Loss Control Specialist2,160 EUR+1%
Loss Prevention Investigator2,230 EUR+4%
Loss Prevention Manager2,980 EUR+39%
Loss Prevention Specialist2,310 EUR+8%
Marine Underwriter1,600 EUR-25%
Medical Auditor2,150 EUR+0%
Monitoring and Performance Officer1,440 EUR-33%
Parametric Insurance Specialist2,160 EUR+1%
Payment Services Specialist2,150 EUR+0%
Peer-to-Peer Insurance Manager2,590 EUR+21%
Policy Change Director3,260 EUR+52%
Policy Change Supervisor2,380 EUR+11%
Policy Change Technician1,020 EUR-52%
Risk Analyst2,390 EUR+11%
Risk Management Director3,950 EUR+84%
Risk Management Supervisor2,700 EUR+26%
Risk Manager3,850 EUR+79%
Risk Modeling Manager4,070 EUR+90%
Social Media Risk Analyst2,280 EUR+6%
Title Insurance Typist1,770 EUR-18%
Training Manager2,300 EUR+7%
Underwriting Assistant1,090 EUR-49%

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 Cyprus is 18% on average across all career fields.

Private Sector
1,950 EUR
Public Sector+18%
2,300 EUR
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 for the job title Insurance Appraiser in Cyprus?

A good and competitive compensation would range anywhere between 1,970 EUR and 2,240 EUR. 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 a careers like Insurance Appraiser in Cyprus ranges from 1,100 EUR to 1,630 EUR. 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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