How much money does a person working in Insurance make in Cyprus?
3,417 EUR per month
Average Monthly Salary
A person working in Insurance in Cyprus typically earns around 3,417 EUR per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different Insurance jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Salaries for specific jobs
|Actuarial Analyst||3,931 EUR|
|Actuarial Assistant||3,259 EUR|
|Adjustment Insurance Clerk||2,288 EUR|
|Assistant Broker||2,930 EUR|
|Assistant Claims Manager||3,818 EUR|
|Associate Insurance Representative||2,575 EUR|
|Auditing Insurance Manager||4,864 EUR|
|Claim Advocacy Professional||3,555 EUR|
|Claims Adjuster||2,401 EUR|
|Claims Analyst||2,503 EUR|
|Claims Examiner||2,690 EUR|
|Claims Manager||3,988 EUR|
|Claims Processor||2,590 EUR|
|Claims Representative||2,442 EUR|
|Claims Resolution Specialist||3,658 EUR|
|Claims Supervisor||3,363 EUR|
|Complaints Specialist||3,235 EUR|
|Compliance Officer||2,667 EUR|
|Eligibility Specialist||3,256 EUR|
|Insurance Account Manager||3,759 EUR|
|Insurance Accounts Executive||3,731 EUR|
|Insurance Agent||2,939 EUR|
|Insurance Analyst||3,361 EUR|
|Insurance Appraiser||3,378 EUR|
|Insurance Claims Clerk||2,272 EUR|
|Insurance Examiner||3,124 EUR|
|Insurance Investigator||3,067 EUR|
|Insurance Manager||4,385 EUR|
|Insurance Operations Manager||4,347 EUR|
|Insurance Policy Processing Clerk||2,477 EUR|
|Insurance Pricing Assistant||3,092 EUR|
|Insurance Program Manager||3,819 EUR|
|Insurance Project Manager||3,714 EUR|
|Insurance Quality Assurance Agent||3,032 EUR|
|Insurance Sales Agent||2,575 EUR|
|Insurance Sales Director||4,202 EUR|
|Insurance Team Leader||3,488 EUR|
|Insurance Underwriter||2,940 EUR|
|Loss Control Specialist||3,397 EUR|
|Loss Prevention Investigator||3,503 EUR|
|Loss Prevention Manager||3,827 EUR|
|Loss Prevention Specialist||3,630 EUR|
|Marine Underwriter||3,279 EUR|
|Medical Auditor||3,388 EUR|
|Monitoring and Performance Officer||2,670 EUR|
|Payment Services Specialist||3,378 EUR|
|Policy Change Director||4,111 EUR|
|Policy Change Supervisor||3,745 EUR|
|Policy Change Technician||2,678 EUR|
|Risk Analyst||3,670 EUR|
|Risk Management Director||4,624 EUR|
|Risk Management Supervisor||3,841 EUR|
|Risk Manager||4,359 EUR|
|Risk Modeling Manager||4,570 EUR|
|Title Insurance Typist||2,785 EUR|
|Training Manager||3,622 EUR|
Insurance Jobs Salary Distribution in Cyprus
Abount These Figures: Salary Range, Median and Percentiles
The Insurance salaries in Cyprus range between 2,279 EUR per month (minimum salary) to 5,065 EUR per month (maximum salary).
The median salary is 3,280 EUR per month, which means that half (50%) of people working in Insurance are earning less than 3,280 EUR while the other half are earning more than 3,280 EUR. 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.
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 2,502 EUR while 75% of them are earning more than 2,502 EUR. Also from the diagram, 75% of people working in Insurance are earning less than 3,839 EUR while 25% are earning more than 3,839 EUR.
What is the difference between the median and the average salary? What should you be looking at?
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 plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary
Insurance Salary Forecast and Trend in Cyprus
How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.
|Average Salary 2016|| = |
|Average Salary 2017|| +4% |
|Average Salary 2018|| +1% |
|Average Salary 2019|| +2% |
Percentage increase and decrease are relative to the previous value
Insurance salaries in Cyprus are rising in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.
Insurance Hourly Average Wage in Cyprus
20 EUR per hour
Average Hourly Wage
The average hourly wage (pay per hour) in Cyprus for Insurance is 20 EUR. This means that the average person in Cyprus earns approximatly 20 EUR for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
The hourly wage is the salary paid in one working 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 annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.
Insurance VS Other Jobs
We compared Cyprus salaries for Insurance and All Jobs and we found that Insurance salaries are 0% less than those of All Jobs.
Salary Comparison By City
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