A person working as a Risk Manager in Czech Republic typically earns around 117,000 CZK per month. Salaries range from 53,800 CZK (lowest) to 186,000 CZK (highest).
This is the average monthly salary including housing, transport, and other benefits. Risk Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Risk Manager salaries in Czech Republic range from 53,800 CZK per month (minimum salary) to 186,000 CZK per month (maximum salary).
The median salary is 126,000 CZK per month, which means that half (50%) of people working as Risk Manager(s) are earning less than 126,000 CZK while the other half are earning more than 126,000 CZK. 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 Risk Manager(s) are earning less than 81,000 CZK while 75% of them are earning more than 81,000 CZK. Also from the diagram, 75% of Risk Manager(s) are earning less than 169,000 CZK while 25% are earning more than 169,000 CZK.
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
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Risk Manager salaries by experience level and this is what we found.
A Risk Manager with less than two years of experience makes approximately 61,000 CZK per month.
While someone with an experience level between two and five years is expected to earn 81,500 CZK per month, 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 120,000 CZK per month, 48% more than someone with two to five years of experience.
Additionally, Risk Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 147,000 CZK per month, 22% 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 160,000 CZK per month, 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 173,000 CZK per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+48%|
|10 - 15 Years||+22%|
|15 - 20 Years||+9%|
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 Risk Manager salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary of a Risk Manager is 70,900 CZK per month.
While someone with a Master's Degree gets a salary of 137,000 CZK per month, 93% more than someone having a Bachelor's Degree degree.
A Master's degree program or any post-graduate program in Czech Republic costs anywhere from 305,000 Czech Koruna(s) to 914,000 Czech Koruna(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 the thoery. 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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Risk Manager employees in Czech Republic earn 8% more than their female counterparts on average.
Risk Manager(s) in Czech Republic are likely to observe a salary increase of approximately 12% every 20 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
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.
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
Listed above are the average annual increase rates for each industry in Czech Republic for the year 2019. 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.
A Risk Manager is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
15% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 85% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
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.
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.
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.
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.
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.
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.
The average salary for Risk Manager is 91% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
|Job Title||Average Salary|
|Actuarial Analyst||83,200 CZK||-29%|
|Actuarial Assistant||56,100 CZK||-52%|
|Adjustment Insurance Clerk||21,800 CZK||-81%|
|Assistant Broker||36,900 CZK||-68%|
|Assistant Claims Manager||62,800 CZK||-46%|
|Associate Insurance Representative||30,800 CZK||-74%|
|Auditing Insurance Manager||92,400 CZK||-21%|
|Claim Advocacy Professional||63,000 CZK||-46%|
|Claims Adjuster||22,100 CZK||-81%|
|Claims Analyst||32,800 CZK||-72%|
|Claims Examiner||31,400 CZK||-73%|
|Claims Manager||81,700 CZK||-30%|
|Claims Processor||22,800 CZK||-80%|
|Claims Representative||26,700 CZK||-77%|
|Claims Resolution Specialist||64,900 CZK||-44%|
|Claims Supervisor||58,100 CZK||-50%|
|Complaints Specialist||58,200 CZK||-50%|
|Compliance Officer||48,300 CZK||-59%|
|Eligibility Specialist||62,300 CZK||-47%|
|Insurance Account Manager||75,800 CZK||-35%|
|Insurance Accounts Executive||67,500 CZK||-42%|
|Insurance Agent||37,300 CZK||-68%|
|Insurance Analyst||58,200 CZK||-50%|
|Insurance Appraiser||63,400 CZK||-46%|
|Insurance Claims Clerk||22,500 CZK||-81%|
|Insurance Examiner||53,100 CZK||-55%|
|Insurance Investigator||57,800 CZK||-51%|
|Insurance Manager||103,000 CZK||-12%|
|Insurance Operations Manager||102,000 CZK||-13%|
|Insurance Policy Processing Clerk||21,800 CZK||-81%|
|Insurance Pricing Assistant||48,200 CZK||-59%|
|Insurance Program Manager||75,300 CZK||-36%|
|Insurance Project Manager||75,700 CZK||-35%|
|Insurance Quality Assurance Agent||49,900 CZK||-57%|
|Insurance Sales Agent||37,000 CZK||-68%|
|Insurance Sales Director||97,400 CZK||-17%|
|Insurance Team Leader||64,800 CZK||-45%|
|Insurance Underwriter||46,700 CZK||-60%|
|Loss Control Specialist||60,600 CZK||-48%|
|Loss Prevention Investigator||62,600 CZK||-46%|
|Loss Prevention Manager||83,800 CZK||-28%|
|Loss Prevention Specialist||65,000 CZK||-44%|
|Marine Underwriter||43,600 CZK||-63%|
|Medical Auditor||60,600 CZK||-48%|
|Monitoring and Performance Officer||41,700 CZK||-64%|
|Payment Services Specialist||60,300 CZK||-48%|
|Policy Change Director||98,300 CZK||-16%|
|Policy Change Supervisor||65,100 CZK||-44%|
|Policy Change Technician||27,900 CZK||-76%|
|Risk Analyst||65,300 CZK||-44%|
|Risk Management Director||120,000 CZK||+3%|
|Risk Management Supervisor||74,200 CZK||-37%|
|Risk Manager||117,000 CZK||+0%|
|Risk Modeling Manager||112,000 CZK||-4%|
|Title Insurance Typist||53,800 CZK||-54%|
|Training Manager||64,400 CZK||-45%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Czech Republic earn 7% more than their private sector counterparts on average across all sectors.