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Insurance Appraiser Average Salary in El Salvador 2020

How much money does an Insurance Appraiser make in El Salvador?


Average Monthly Salary
1,750 USD
( 21,000 USD yearly)

LOW
890
USD
AVERAGE
1,750
USD
HIGH
2,690
USD

A person working as an Insurance Appraiser in El Salvador typically earns around 1,750 USD per month. Salaries range from 890 USD (lowest) to 2,690 USD (highest).

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

Insurance Appraiser Salary Distribution in El Salvador

Median and salary distribution monthly El Salvador Insurance Appraiser
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance Appraiser salaries in El Salvador range from 890 USD per month (minimum salary) to 2,690 USD per month (maximum salary).

  • Median Salary

    The median salary is 1,710 USD per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 1,710 USD while the other half are earning more than 1,710 USD. 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

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Insurance Appraiser(s) are earning less than 1,170 USD while 75% of them are earning more than 1,170 USD. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 2,160 USD while 25% are earning more than 2,160 USD.


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

Insurance Appraiser Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly El Salvador 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 your wage. We broke down Insurance Appraiser salaries by experience level and this is what we found.

An Insurance Appraiser with less than two years of experience makes approximately 1,000 USD per month.

While someone with an experience level between two and five years is expected to earn 1,310 USD per month, 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 1,830 USD per month, 40% more than someone with two to five 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.

Additionally, Insurance Appraiser(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,200 USD per month, 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 2,380 USD 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 2,570 USD per month, 8% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in El Salvador

0 - 2 Years
1,000 USD
2 - 5 Years+31%
1,310 USD
5 - 10 Years+40%
1,830 USD
10 - 15 Years+20%
2,200 USD
15 - 20 Years+9%
2,380 USD
20+ Years+8%
2,570 USD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Insurance Appraiser Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Insurance Appraiser(s) who have the same experience but different education levels.

Salary comparison by education level monthly El Salvador 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 Insurance Appraiser salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of an Insurance Appraiser is 1,180 USD per month.

While someone with a Bachelor's Degree gets a salary of 2,130 USD per month, 81% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in El Salvador

Certificate or Diploma
1,180 USD
Bachelor's Degree+81%
2,130 USD
Percentage increase and decrease are relative to the previous value

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Insurance Appraiser Salary Comparison By Gender

Salary comparison by gender monthly El Salvador Insurance Appraiser
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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? Male Insurance Appraiser employees in El Salvador earn 11% more than their female counterparts on average.

Male
1,850 USD
Female-10%
1,660 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in El Salvador for all Careers

Salary comparison by gender monthly El Salvador
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Insurance Appraiser Average Annual Salary Increment Percentage in El Salvador

How much are annual salary increments in El Salvador for Insurance Appraiser(s)? How often do employees get salary raises?

Insurance Appraiser

Insurance Appraiser(s) in El Salvador are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate El Salvador 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.

El Salvador / 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

The average salary increase in one year (12 months) in El Salvador is 2%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Listed above are the average annual increase rates for each industry in El Salvador 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.


Worldwide Salary Raises: All Countries and All Jobs

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Insurance Appraiser Bonus and Incentive Rates in El Salvador

How much and how often are bonuses being awarded?Annual Salary Bonus Rate El Salvador Insurance Appraiser
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An Insurance Appraiser is considered to be a low 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.

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.

Insurance Appraiser Average Hourly Wage in El Salvador


10 USD per hour

The average hourly wage (pay per hour) in El Salvador is 10 USD. This means that the average Insurance Appraiser in El Salvador earns approximately 10 USD for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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.

Insurance Appraiser VS Other Jobs

Salary Comparison Between Insurance Appraiser and Insurance monthly El Salvador
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The average salary for Insurance Appraiser is 2% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst2,280 USD+31%
Actuarial Assistant1,550 USD-11%
Actuary2,310 USD+32%
Adjustment Insurance Clerk590 USD-66%
Assistant Broker1,090 USD-38%
Assistant Claims Manager1,790 USD+2%
Associate Insurance Representative880 USD-50%
Auditing Insurance Manager2,540 USD+45%
Broker1,690 USD-3%
Claim Advocacy Professional1,630 USD-7%
Claims Adjuster610 USD-65%
Claims Analyst910 USD-48%
Claims Examiner880 USD-50%
Claims Manager2,320 USD+33%
Claims Processor650 USD-63%
Claims Representative710 USD-59%
Claims Resolution Specialist1,870 USD+7%
Claims Supervisor1,680 USD-4%
Complaints Specialist1,550 USD-11%
Compliance Officer1,350 USD-23%
Consultant1,680 USD-4%
Eligibility Specialist1,640 USD-6%
Insurance Account Manager2,160 USD+24%
Insurance Accounts Executive1,870 USD+7%
Insurance Agent980 USD-44%
Insurance Analyst1,700 USD-3%
Insurance Appraiser1,750 USD+0%
Insurance Claims Clerk630 USD-64%
Insurance Examiner1,490 USD-15%
Insurance Investigator1,630 USD-7%
Insurance Manager2,850 USD+63%
Insurance Operations Manager2,850 USD+63%
Insurance Policy Processing Clerk620 USD-65%
Insurance Pricing Assistant1,320 USD-24%
Insurance Program Manager2,190 USD+25%
Insurance Project Manager2,140 USD+22%
Insurance Quality Assurance Agent1,410 USD-19%
Insurance Sales Agent960 USD-45%
Insurance Sales Director2,700 USD+55%
Insurance Team Leader1,810 USD+4%
Insurance Underwriter1,210 USD-31%
Loss Control Specialist1,660 USD-5%
Loss Prevention Investigator1,720 USD-2%
Loss Prevention Manager2,330 USD+33%
Loss Prevention Specialist1,820 USD+4%
Marine Underwriter1,260 USD-28%
Medical Auditor1,680 USD-4%
Monitoring and Performance Officer1,160 USD-34%
Payment Services Specialist1,660 USD-5%
Policy Change Director2,630 USD+51%
Policy Change Supervisor1,750 USD+0%
Policy Change Technician840 USD-52%
Risk Analyst1,800 USD+3%
Risk Management Director3,330 USD+91%
Risk Management Supervisor2,080 USD+19%
Risk Manager2,980 USD+71%
Risk Modeling Manager3,190 USD+83%
Title Insurance Typist1,370 USD-22%
Training Manager1,900 USD+9%

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 El Salvador earn 18% more than their private sector counterparts on average across all sectors.

Private Sector
1,540 USD
Public Sector+18%
1,810 USD
Percentage increase and decrease are relative to the previous value

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