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Insurance Average Salaries in French Polynesia 2021

How much money does a person working in Insurance make in French Polynesia?


Average Monthly Salary
146,000 XPF
( 1,750,000 XPF yearly)

LOW
54,200
XPF
AVERAGE
146,000
XPF
HIGH
282,000
XPF

A person working in Insurance in French Polynesia typically earns around 146,000 XPF per month. Salaries range from 54,200 XPF (lowest average) to 282,000 XPF (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst187,000 XPF
Actuarial Assistant129,000 XPF
Actuary196,000 XPF
Adjustment Insurance Clerk53,300 XPF
Assistant Broker87,000 XPF
Assistant Claims Manager148,000 XPF
Associate Insurance Representative70,500 XPF
Auditing Insurance Manager208,000 XPF
Broker144,000 XPF
Claim Advocacy Professional138,000 XPF
Claims Adjuster50,800 XPF
Claims Analyst76,700 XPF
Claims Examiner74,900 XPF
Claims Manager199,000 XPF
Claims Processor51,000 XPF
Claims Representative61,400 XPF
Claims Resolution Specialist160,000 XPF
Claims Supervisor147,000 XPF
Complaints Specialist128,000 XPF
Compliance Officer119,000 XPF
Consultant141,000 XPF
Eligibility Specialist145,000 XPF
Insurance Account Manager170,000 XPF
Insurance Accounts Executive147,000 XPF
Insurance Agent87,000 XPF
Insurance Analyst138,000 XPF
Insurance Appraiser139,000 XPF
Insurance Claims Clerk50,100 XPF
Insurance Examiner134,000 XPF
Insurance Investigator134,000 XPF
Insurance Manager241,000 XPF
Insurance Operations Manager249,000 XPF
Insurance Policy Processing Clerk51,600 XPF
Insurance Pricing Assistant112,000 XPF
Insurance Program Manager189,000 XPF
Insurance Project Manager180,000 XPF
Insurance Quality Assurance Agent121,000 XPF
Insurance Sales Agent80,600 XPF
Insurance Sales Director223,000 XPF
Insurance Team Leader155,000 XPF
Insurance Underwriter102,000 XPF
Loss Control Specialist137,000 XPF
Loss Prevention Investigator144,000 XPF
Loss Prevention Manager197,000 XPF
Loss Prevention Specialist155,000 XPF
Marine Underwriter110,000 XPF
Medical Auditor142,000 XPF
Monitoring and Performance Officer95,300 XPF
Payment Services Specialist139,000 XPF
Policy Change Director215,000 XPF
Policy Change Supervisor160,000 XPF
Policy Change Technician70,100 XPF
Risk Analyst154,000 XPF
Risk Management Director261,000 XPF
Risk Management Supervisor182,000 XPF
Risk Manager264,000 XPF
Risk Modeling Manager258,000 XPF
Title Insurance Typist122,000 XPF
Training Manager152,000 XPF

Insurance Jobs Salary Distribution in French Polynesia

Median and salary distribution monthly French Polynesia Insurance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance salaries in French Polynesia range from 54,200 XPF per month (minimum average salary) to 282,000 XPF per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 137,000 XPF per month, which means that half (50%) of people working in Insurance are earning less than 137,000 XPF while the other half are earning more than 137,000 XPF. 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 people working in Insurance are earning less than 86,100 XPF while 75% of them are earning more than 86,100 XPF. Also from the diagram, 75% of people working in Insurance are earning less than 197,000 XPF while 25% are earning more than 197,000 XPF.


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

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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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.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

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.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


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 French Polynesia costs anywhere from 728,000 CFP Franc(s) to 2,180,000 CFP Franc(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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Insurance Salary Comparison By Gender

Salary comparison by gender monthly French Polynesia Insurance
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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 employees in French Polynesia who work in Insurance earn 14% more than their female counterparts on average.

Male
153,000 XPF
Female-12%
134,000 XPF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in French Polynesia for all Careers

Salary comparison by gender monthly French Polynesia
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Insurance Average Annual Salary Increment Percentage in French Polynesia

How much are annual salary increments in French Polynesia for Insurance professionals? How often do employees get salary raises?

Insurance

Insurance professionals in French Polynesia are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate French Polynesia Insurance
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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.

French Polynesia / 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 French Polynesia is 2%.

Annual Increment Rate By Industry 2020

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 French Polynesia for the year 2020. 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 Bonus and Incentive Rates in French Polynesia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate French Polynesia Insurance
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Insurance is considered to be a moderate bonus-based field 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.

68% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 32% 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
32%
No Bonus
68%

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 Hourly Average Wage in French Polynesia


840 XPF per hour

The average hourly wage (pay per hour) in French Polynesia is 840 XPF. This means that the average person in French Polynesia earns approximately 840 XPF 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 VS Other Jobs

Salary Comparison Between Insurance and Insurance monthly French Polynesia
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The average salary for Insurance is 0% more than that of All Jobs.

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

Private Sector
132,000 XPF
Public Sector+21%
160,000 XPF
Percentage increase and decrease are relative to the previous value

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