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Insurance Appraiser Average Salary in Eritrea 2020

How much money does an Insurance Appraiser make in Eritrea?


Average Monthly Salary
6,970 ERN
( 83,700 ERN yearly)

LOW
3,280
ERN
AVERAGE
6,970
ERN
HIGH
11,000
ERN

A person working as an Insurance Appraiser in Eritrea typically earns around 6,970 ERN per month. Salaries range from 3,280 ERN (lowest) to 11,000 ERN (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 Eritrea

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

  • Salary Range

    Insurance Appraiser salaries in Eritrea range from 3,280 ERN per month (minimum salary) to 11,000 ERN per month (maximum salary).

  • Median Salary

    The median salary is 7,390 ERN per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 7,390 ERN while the other half are earning more than 7,390 ERN. 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 4,800 ERN while 75% of them are earning more than 4,800 ERN. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 9,760 ERN while 25% are earning more than 9,760 ERN.


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 Eritrea 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 3,780 ERN per month.

While someone with an experience level between two and five years is expected to earn 5,210 ERN per month, 38% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 7,420 ERN per month, 42% 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 9,040 ERN 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 9,550 ERN per month, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 10,400 ERN per month, 9% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Eritrea

0 - 2 Years
3,780 ERN
2 - 5 Years+38%
5,210 ERN
5 - 10 Years+42%
7,420 ERN
10 - 15 Years+22%
9,040 ERN
15 - 20 Years+6%
9,550 ERN
20+ Years+9%
10,400 ERN
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 Eritrea 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 4,750 ERN per month.

While someone with a Bachelor's Degree gets a salary of 9,080 ERN per month, 91% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Eritrea

Certificate or Diploma
4,750 ERN
Bachelor's Degree+91%
9,080 ERN
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 Eritrea 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 Eritrea earn 14% more than their female counterparts on average.

Male
7,480 ERN
Female-12%
6,570 ERN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Eritrea for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Eritrea 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 Eritrea 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.

Eritrea / 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 Eritrea is 2%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Eritrea 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 Eritrea

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Eritrea 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.

85% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 15% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
15%
No Bonus
85%

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 Eritrea


40 ERN per hour

The average hourly wage (pay per hour) in Eritrea is 40 ERN. This means that the average Insurance Appraiser in Eritrea earns approximately 40 ERN 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 Eritrea
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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 Analyst9,330 ERN+34%
Actuarial Assistant6,360 ERN-9%
Actuary9,320 ERN+34%
Adjustment Insurance Clerk2,430 ERN-65%
Assistant Broker4,310 ERN-38%
Assistant Claims Manager7,410 ERN+6%
Associate Insurance Representative3,560 ERN-49%
Auditing Insurance Manager10,400 ERN+49%
Broker6,890 ERN-1%
Claim Advocacy Professional7,070 ERN+1%
Claims Adjuster2,510 ERN-64%
Claims Analyst3,400 ERN-51%
Claims Examiner3,630 ERN-48%
Claims Manager9,550 ERN+37%
Claims Processor2,430 ERN-65%
Claims Representative2,970 ERN-57%
Claims Resolution Specialist7,350 ERN+5%
Claims Supervisor6,930 ERN-1%
Complaints Specialist6,280 ERN-10%
Compliance Officer5,530 ERN-21%
Consultant6,390 ERN-8%
Eligibility Specialist6,790 ERN-3%
Insurance Account Manager7,850 ERN+13%
Insurance Accounts Executive6,920 ERN-1%
Insurance Agent3,940 ERN-43%
Insurance Analyst6,410 ERN-8%
Insurance Appraiser6,970 ERN-0%
Insurance Claims Clerk2,500 ERN-64%
Insurance Examiner5,960 ERN-15%
Insurance Investigator6,550 ERN-6%
Insurance Manager11,400 ERN+63%
Insurance Operations Manager12,000 ERN+72%
Insurance Policy Processing Clerk2,500 ERN-64%
Insurance Pricing Assistant5,520 ERN-21%
Insurance Program Manager8,630 ERN+24%
Insurance Project Manager8,150 ERN+17%
Insurance Quality Assurance Agent5,830 ERN-16%
Insurance Sales Agent3,870 ERN-45%
Insurance Sales Director11,000 ERN+58%
Insurance Team Leader7,050 ERN+1%
Insurance Underwriter5,240 ERN-25%
Loss Control Specialist6,600 ERN-5%
Loss Prevention Investigator6,880 ERN-1%
Loss Prevention Manager9,310 ERN+34%
Loss Prevention Specialist7,290 ERN+5%
Marine Underwriter5,200 ERN-25%
Medical Auditor6,730 ERN-3%
Monitoring and Performance Officer4,870 ERN-30%
Payment Services Specialist6,640 ERN-5%
Policy Change Director10,900 ERN+56%
Policy Change Supervisor7,300 ERN+5%
Policy Change Technician3,170 ERN-55%
Risk Analyst7,560 ERN+8%
Risk Management Director12,700 ERN+82%
Risk Management Supervisor8,750 ERN+25%
Risk Manager12,600 ERN+81%
Risk Modeling Manager12,200 ERN+75%
Title Insurance Typist5,800 ERN-17%
Training Manager7,530 ERN+8%

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 Eritrea earn 21% more than their private sector counterparts on average across all sectors.

Private Sector
6,220 ERN
Public Sector+21%
7,520 ERN
Percentage increase and decrease are relative to the previous value

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