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Insurance Appraiser Average Salary in Ghana 2020

How much money does an Insurance Appraiser make in Ghana?

Average Monthly Salary
4,780 GHS
( 57,300 GHS yearly)


A person working as an Insurance Appraiser in Ghana typically earns around 4,780 GHS per month. Salaries range from 2,530 GHS (lowest) to 7,260 GHS (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 Ghana

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

  • Salary Range

    Insurance Appraiser salaries in Ghana range from 2,530 GHS per month (minimum salary) to 7,260 GHS per month (maximum salary).

  • Median Salary

    The median salary is 4,490 GHS per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 4,490 GHS while the other half are earning more than 4,490 GHS. 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 3,160 GHS while 75% of them are earning more than 3,160 GHS. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 5,520 GHS while 25% are earning more than 5,520 GHS.

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 Ghana 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 2,910 GHS per month.

While someone with an experience level between two and five years is expected to earn 3,570 GHS per month, 23% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 5,060 GHS 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 5,910 GHS per month, 17% 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 6,500 GHS per month, 10% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 6,880 GHS per month, 6% more than people with fifteen to twenty years of experience.

Insurance Appraiser average salary change by experience in Ghana

0 - 2 Years
2,910 GHS
2 - 5 Years+23%
3,570 GHS
5 - 10 Years+42%
5,060 GHS
10 - 15 Years+17%
5,910 GHS
15 - 20 Years+10%
6,500 GHS
20+ Years+6%
6,880 GHS
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 Ghana 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 3,860 GHS per month.

While someone with a Bachelor's Degree gets a salary of 5,650 GHS per month, 47% more than someone having a Certificate or Diploma degree.

Insurance Appraiser average salary difference by education level in Ghana

Certificate or Diploma
3,860 GHS
Bachelor's Degree+47%
5,650 GHS
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 Ghana 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 Ghana earn 10% more than their female counterparts on average.

4,960 GHS
4,500 GHS
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Ghana for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Ghana 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 19 months.

Annual Salary Increment Rate Ghana 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.

Ghana / 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 Ghana is 5%.

Annual Increment Rate By Industry 2019

Information Technology

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

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

77% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 23% 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
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Ghana

28 GHS per hour

The average hourly wage (pay per hour) in Ghana is 28 GHS. This means that the average Insurance Appraiser in Ghana earns approximately 28 GHS 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 Ghana
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The average salary for Insurance Appraiser is 6% less than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Actuarial Analyst6,260 GHS+31%
Actuarial Assistant4,790 GHS+0%
Actuary6,310 GHS+32%
Adjustment Insurance Clerk1,770 GHS-63%
Assistant Broker3,230 GHS-32%
Assistant Claims Manager5,100 GHS+7%
Associate Insurance Representative2,500 GHS-48%
Auditing Insurance Manager6,960 GHS+46%
Broker4,790 GHS+0%
Claim Advocacy Professional4,990 GHS+4%
Claims Adjuster1,890 GHS-60%
Claims Analyst2,600 GHS-46%
Claims Examiner2,550 GHS-47%
Claims Manager6,800 GHS+42%
Claims Processor1,760 GHS-63%
Claims Representative2,170 GHS-55%
Claims Resolution Specialist5,270 GHS+10%
Claims Supervisor5,090 GHS+7%
Complaints Specialist4,620 GHS-3%
Compliance Officer4,020 GHS-16%
Consultant4,700 GHS-2%
Eligibility Specialist5,060 GHS+6%
Insurance Account Manager6,010 GHS+26%
Insurance Accounts Executive5,480 GHS+15%
Insurance Agent2,810 GHS-41%
Insurance Analyst4,850 GHS+2%
Insurance Appraiser4,780 GHS+0%
Insurance Claims Clerk1,740 GHS-64%
Insurance Examiner4,650 GHS-3%
Insurance Investigator4,690 GHS-2%
Insurance Manager8,330 GHS+74%
Insurance Operations Manager8,250 GHS+73%
Insurance Policy Processing Clerk1,820 GHS-62%
Insurance Pricing Assistant4,010 GHS-16%
Insurance Program Manager6,280 GHS+31%
Insurance Project Manager5,990 GHS+25%
Insurance Quality Assurance Agent4,150 GHS-13%
Insurance Sales Agent2,860 GHS-40%
Insurance Sales Director8,310 GHS+74%
Insurance Team Leader5,000 GHS+5%
Insurance Underwriter3,700 GHS-23%
Loss Control Specialist4,680 GHS-2%
Loss Prevention Investigator4,950 GHS+4%
Loss Prevention Manager6,800 GHS+42%
Loss Prevention Specialist5,410 GHS+13%
Marine Underwriter3,820 GHS-20%
Medical Auditor4,920 GHS+3%
Monitoring and Performance Officer3,470 GHS-27%
Payment Services Specialist4,780 GHS+0%
Policy Change Director7,600 GHS+59%
Policy Change Supervisor5,150 GHS+8%
Policy Change Technician2,270 GHS-52%
Risk Analyst5,580 GHS+17%
Risk Management Director9,500 GHS+99%
Risk Management Supervisor6,030 GHS+26%
Risk Manager8,810 GHS+84%
Risk Modeling Manager9,560 GHS+100%
Title Insurance Typist4,050 GHS-15%
Training Manager5,640 GHS+18%

Salary Comparison By City

CityAverage Salary
Accra4,950 GHS
Kumasi5,450 GHS

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 Ghana earn 8% more than their private sector counterparts on average across all sectors.

Private Sector
4,860 GHS
Public Sector+8%
5,230 GHS
Percentage increase and decrease are relative to the previous value

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