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Insurance Average Salaries in Greece 2024

How much money does a person working in Insurance make in Greece?


Average Monthly Salary
2,410 EUR
( 28,900 EUR yearly)

LOW
910
EUR
AVERAGE
2,410
EUR
HIGH
4,710
EUR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Insurance in Greece typically earns around 2,410 EUR. Salaries range from 910 EUR (lowest average) to 4,710 EUR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Insurance domain in Greece exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Insurance
Actuarial Analyst3,070 EUR
Actuarial Assistant2,120 EUR
Actuarial Specialist2,340 EUR
Actuary3,060 EUR
Adjustment Insurance Clerk870 EUR
Assistant Broker1,530 EUR
Assistant Claims Manager2,520 EUR
Associate Insurance Representative1,210 EUR
Auditing Insurance Manager3,410 EUR
Blockchain Insurance Auditor2,230 EUR
Broker2,340 EUR
Claim Advocacy Professional2,350 EUR
Claims Adjuster840 EUR
Claims Analyst1,280 EUR
Claims Examiner1,260 EUR
Claims Manager3,360 EUR
Claims Processor870 EUR
Claims Representative1,080 EUR
Claims Resolution Specialist2,480 EUR
Claims Supervisor2,280 EUR
Complaints Specialist2,240 EUR
Compliance Examiner2,260 EUR
Compliance Officer1,980 EUR
Compliance Reviewer2,190 EUR
Consultant2,380 EUR
Drone Claims Adjuster1,070 EUR
Eligibility Interviewer2,570 EUR
Eligibility Specialist2,270 EUR
Insurance Account Manager2,890 EUR
Insurance Accounts Executive2,430 EUR
Insurance Adjuster2,160 EUR
Insurance Agent1,360 EUR
Insurance Analyst2,410 EUR
Insurance Appraiser2,280 EUR
Insurance Claims Clerk830 EUR
Insurance Compliance Officer2,670 EUR
Insurance Data Scientist2,140 EUR
Insurance Examiner2,230 EUR
Insurance Fraud Investigator1,900 EUR
Insurance Investigator2,260 EUR
Insurance Manager3,990 EUR
Insurance Operations Manager4,160 EUR
Insurance Policy Processing Clerk880 EUR
Insurance Pricing Assistant1,820 EUR
Insurance Product Manager2,640 EUR
Insurance Program Manager2,960 EUR
Insurance Project Manager3,030 EUR
Insurance Quality Assurance Agent2,050 EUR
Insurance Sales Agent1,380 EUR
Insurance Sales Director3,690 EUR
Insurance Sales Manager3,020 EUR
Insurance Sales Representative1,190 EUR
Insurance Team Leader2,580 EUR
Insurance Underwriter1,740 EUR
Insurtech Analyst2,250 EUR
Loss Control Specialist2,230 EUR
Loss Prevention Investigator2,370 EUR
Loss Prevention Manager3,260 EUR
Loss Prevention Specialist2,590 EUR
Marine Underwriter1,710 EUR
Medical Auditor2,360 EUR
Monitoring and Performance Officer1,580 EUR
Parametric Insurance Specialist2,430 EUR
Payment Services Specialist2,280 EUR
Peer-to-Peer Insurance Manager2,900 EUR
Policy Change Director3,790 EUR
Policy Change Supervisor2,570 EUR
Policy Change Technician1,140 EUR
Risk Analyst2,540 EUR
Risk Management Director4,320 EUR
Risk Management Supervisor3,040 EUR
Risk Manager4,450 EUR
Risk Modeling Manager4,380 EUR
Social Media Risk Analyst2,460 EUR
Title Insurance Typist2,050 EUR
Training Manager2,670 EUR
Underwriting Assistant1,160 EUR


Insurance Jobs Pay Scale and Salaries in Greece

Median and salary distribution Greece Insurance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
2,450 EUR or more
10% of people earn
2,070 to 2,450 EUR
20% of people earn
1,220 EUR or less
65% of people earn
1,220 to 2,070 EUR
Minimum Salary
910 EUR
Median
2,210 EUR
Maximum
4,710 EUR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Insurance in Greece range from 910 EUR (starting average salary) to 4,710 EUR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Insurance is 2,210 EUR, implying that half of the workforce in Greece earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Insurance in Greece earn less than 1,700 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 2,670 EUR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Insurance in Greece. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,220 EUR to 2,070 EUR. Approximately 20% of salaries were below the 1,220 EUR mark, while 10% ranged from 2,070 EUR to 2,450 EUR. Only 5% of individuals earned a gross salary of 2,450 EUR or higher.

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 in Insurance in Greece 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.

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.


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.
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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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.

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 degree levels across many jobs in Insurance in Greece, below are our findings.

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 certificate 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 Greece costs anywhere from 12,200 EUR to 36,600 EUR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Insurance / Greece

Salary comparison by gender Greece Insurance monthly
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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? In the field of Insurance in Greece, the average difference between the salary of male and female employees is 7%.

Male
2,480 EUR
Female-7%
2,320 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Greece for all Careers

Salary comparison by gender monthly Greece
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Average Annual Salary Increment Percentage / Insurance / Greece

How much are annual salary increments in Greece for individuals working in Insurance? How often do employees get salary raises?

Professionals working in Insurance in Greece are likely to observe a salary increase of approximately 10% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.

Annual Salary Increment Rate Greece 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.

Greece / All Professions

Annual Salary Increment Rate Greece
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Greece is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Insurance / Greece

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Greece Insurance
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46% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 54% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
54%
No Bonus
46%

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.

Hourly Average Wage / Insurance / Greece


14 EUR per hour

The average hourly wage (pay per hour) in Insurance in Greece is 14 EUR.This is the rate they get paid for every worked hour.


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

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Insurance in Greece is 5 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Athens2,450 EUR

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Greece is 6% on average across all career fields.

Private Sector
2,380 EUR
Public Sector+6%
2,530 EUR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Insurance in Greece?

A good and competitive compensation would range anywhere between 2,210 EUR and 2,670 EUR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Insurance in Greece ranges from 910 EUR to 1,700 EUR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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