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Insurance Project Manager Average Salary in Czech Republic 2024

How much money does a person working as Insurance Project Manager make in Czech Republic?


Average Monthly Salary
75,700 CZK
( 908,000 CZK yearly)

LOW
39,300
CZK
AVERAGE
75,700
CZK
HIGH
116,000
CZK
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 Project Manager in Czech Republic typically earns around 75,700 CZK. Salaries range from 39,300 CZK (lowest) to 116,000 CZK (highest).


Salary Variance

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



Insurance Project Manager Pay Scale and Salaries in Czech Republic

Median and salary distribution Czech Republic Insurance Project Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
68,500 CZK or more
10% of people earn
61,000 to 68,500 CZK
20% of people earn
44,500 CZK or less
65% of people earn
44,500 to 61,000 CZK
Minimum Salary
39,300 CZK
Median
68,800 CZK
Maximum
116,000 CZK




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 Project Manager in Czech Republic range from 39,300 CZK (starting salary) to 116,000 CZK (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 68,800 CZK, half of the professionals who work as Insurance Project Manager in Czech Republic 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 Project Manager in Czech Republic earn less than 57,100 CZK, while 75% earn more. Similarly, the chart shows that 75% earn less than 78,100 CZK 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 Project Manager in Czech Republic compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 44,500 CZK to 61,000 CZK. About 20% of salaries are below the 44,500 CZK mark, while 10% fall within the range of 61,000 CZK to 68,500 CZK. Only 5% of individuals have salaries exceeding 68,500 CZK.

Salary Comparison by Years of Experience / Insurance Project Manager / Czech Republic

How do experience and age affect pay?

0 - 2 Years
44,700 CZK
2 - 5 Years+34%
60,000 CZK
5 - 10 Years+30%
77,900 CZK
10 - 15 Years+21%
94,400 CZK
15 - 20 Years+9%
103,000 CZK
20+ Years+5%
108,000 CZK
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Czech Republic Insurance Project Manager
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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 Project Manager 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 44,700 CZK.

While someone with an experience level between two and five years is expected to earn 60,000 CZK, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 77,900 CZK, 30% 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 94,400 CZK, 21% 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 103,000 CZK, 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 108,000 CZK, 5% 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 Project Manager / Czech Republic

How do education levels affect salaries?

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

Bachelor's Degree
63,000 CZK
Master's Degree+39%
87,500 CZK
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Czech Republic Insurance Project Manager
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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 Project Manager in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 63,000 CZK.


Level 2: Master's Degree

At this level, the average salary becomes 87,500 CZK, 39% more than the previous level.



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 Czech Republic costs anywhere from 306,000 CZK to 917,000 CZK 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Insurance Project Manager / Czech Republic

Salary comparison by gender Czech Republic Insurance Project Manager 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 Project Manager in Czech Republic, the average difference between the salary of male and female employees is 6%.

Male
78,000 CZK
Female-5%
73,700 CZK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Czech Republic for all Careers

Salary comparison by gender monthly Czech Republic
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Average Annual Salary Increment Percentage / Insurance Project Manager / Czech Republic

How much are annual salary increments in Czech Republic for individuals working as Insurance Project Manager? How often do employees get salary raises?

Individuals working as Insurance Project Manager in Czech Republic are likely to observe a salary increase of approximately 11% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Czech Republic Insurance Project Manager
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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.

Czech Republic / All Professions

Annual Salary Increment Rate Czech Republic
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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 Czech Republic is 5%.

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 Project Manager / Czech Republic

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Czech Republic Insurance Project Manager
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47% of surveyed staff 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 5% 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.

Average Hourly Wage / Insurance Project Manager / Czech Republic


440 CZK per hour

The average hourly wage (pay per hour) for individuals working as Insurance Project Manager in Czech Republic is 440 CZK.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 Project Manager in Czech Republic is 230 CZK. 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 Analyst83,200 CZK+10%
Actuarial Assistant56,100 CZK-26%
Actuarial Specialist60,100 CZK-21%
Actuary79,800 CZK+5%
Adjustment Insurance Clerk21,800 CZK-71%
Assistant Broker36,900 CZK-51%
Assistant Claims Manager62,800 CZK-17%
Associate Insurance Representative30,800 CZK-59%
Auditing Insurance Manager92,400 CZK+22%
Blockchain Insurance Auditor54,300 CZK-28%
Broker62,000 CZK-18%
Claim Advocacy Professional63,000 CZK-17%
Claims Adjuster22,100 CZK-71%
Claims Analyst32,800 CZK-57%
Claims Examiner31,400 CZK-58%
Claims Manager81,700 CZK+8%
Claims Processor22,800 CZK-70%
Claims Representative26,700 CZK-65%
Claims Resolution Specialist64,900 CZK-14%
Claims Supervisor58,100 CZK-23%
Complaints Specialist58,200 CZK-23%
Compliance Examiner56,400 CZK-25%
Compliance Officer48,300 CZK-36%
Compliance Reviewer58,800 CZK-22%
Consultant59,300 CZK-22%
Drone Claims Adjuster26,200 CZK-65%
Eligibility Interviewer67,600 CZK-11%
Eligibility Specialist62,300 CZK-18%
Insurance Account Manager75,800 CZK+0%
Insurance Accounts Executive67,500 CZK-11%
Insurance Adjuster56,400 CZK-25%
Insurance Agent37,300 CZK-51%
Insurance Analyst58,200 CZK-23%
Insurance Appraiser63,400 CZK-16%
Insurance Claims Clerk22,500 CZK-70%
Insurance Compliance Officer68,100 CZK-10%
Insurance Data Scientist53,200 CZK-30%
Insurance Examiner53,100 CZK-30%
Insurance Fraud Investigator50,900 CZK-33%
Insurance Investigator57,800 CZK-24%
Insurance Manager103,000 CZK+36%
Insurance Operations Manager102,000 CZK+35%
Insurance Policy Processing Clerk21,800 CZK-71%
Insurance Pricing Assistant48,200 CZK-36%
Insurance Product Manager68,800 CZK-9%
Insurance Program Manager75,300 CZK-0%
Insurance Project Manager75,700 CZK+0%
Insurance Quality Assurance Agent49,900 CZK-34%
Insurance Sales Agent37,000 CZK-51%
Insurance Sales Director97,400 CZK+29%
Insurance Sales Manager75,000 CZK-1%
Insurance Sales Representative31,000 CZK-59%
Insurance Team Leader64,800 CZK-14%
Insurance Underwriter46,700 CZK-38%
Insurtech Analyst57,100 CZK-25%
Loss Control Specialist60,600 CZK-20%
Loss Prevention Investigator62,600 CZK-17%
Loss Prevention Manager83,800 CZK+11%
Loss Prevention Specialist65,000 CZK-14%
Marine Underwriter43,600 CZK-42%
Medical Auditor60,600 CZK-20%
Monitoring and Performance Officer41,700 CZK-45%
Parametric Insurance Specialist62,200 CZK-18%
Payment Services Specialist60,300 CZK-20%
Peer-to-Peer Insurance Manager75,200 CZK-1%
Policy Change Director98,300 CZK+30%
Policy Change Supervisor65,100 CZK-14%
Policy Change Technician27,900 CZK-63%
Risk Analyst65,300 CZK-14%
Risk Management Director120,000 CZK+59%
Risk Management Supervisor74,200 CZK-2%
Risk Manager117,000 CZK+55%
Risk Modeling Manager112,000 CZK+48%
Social Media Risk Analyst62,700 CZK-17%
Title Insurance Typist53,800 CZK-29%
Training Manager64,400 CZK-15%
Underwriting Assistant29,700 CZK-61%

Salary Comparison By City

CityAverage Salary
Prague85,200 CZK

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 Czech Republic is 7% on average across all career fields.

Private Sector
59,300 CZK
Public Sector+7%
63,600 CZK
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 Project Manager in Czech Republic?

A good and competitive compensation would range anywhere between 68,800 CZK and 78,100 CZK. 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 Project Manager in Czech Republic ranges from 39,300 CZK to 57,100 CZK. 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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