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Insurance Appraiser Average Salary in Guam 2020

How much money does an Insurance Appraiser make in Guam?


Average Monthly Salary
1,300 USD
( 15,600 USD yearly)

LOW
650
USD
AVERAGE
1,300
USD
HIGH
2,010
USD

A person working as an Insurance Appraiser in Guam typically earns around 1,300 USD per month. Salaries range from 650 USD (lowest) to 2,010 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 Guam

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

  • Salary Range

    Insurance Appraiser salaries in Guam range from 650 USD per month (minimum salary) to 2,010 USD per month (maximum salary).

  • Median Salary

    The median salary is 1,300 USD per month, which means that half (50%) of people working as Insurance Appraiser(s) are earning less than 1,300 USD while the other half are earning more than 1,300 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 880 USD while 75% of them are earning more than 880 USD. Also from the diagram, 75% of Insurance Appraiser(s) are earning less than 1,660 USD while 25% are earning more than 1,660 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 Guam 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 780 USD per month.

While someone with an experience level between two and five years is expected to earn 1,030 USD per month, 32% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 1,380 USD per month, 34% 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 1,650 USD per month, 19% 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 1,770 USD per month, 8% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 1,900 USD per month, 7% more than people with fifteen to twenty years of experience.


Insurance Appraiser average salary change by experience in Guam

0 - 2 Years
780 USD
2 - 5 Years+32%
1,030 USD
5 - 10 Years+34%
1,380 USD
10 - 15 Years+19%
1,650 USD
15 - 20 Years+8%
1,770 USD
20+ Years+7%
1,900 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 Guam 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 1,150 USD per month.

While someone with a Bachelor's Degree gets a salary of 1,800 USD per month, 56% more than someone having a Certificate or Diploma degree.


Insurance Appraiser average salary difference by education level in Guam

Certificate or Diploma
1,150 USD
Bachelor's Degree+56%
1,800 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 Guam 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 Guam earn 6% more than their female counterparts on average.

Male
1,330 USD
Female-6%
1,250 USD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Guam for all Careers

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

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

Insurance Appraiser

Insurance Appraiser(s) in Guam are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Guam 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.

Guam / 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 Guam is 2%.

Annual Increment Rate By Industry 2019

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

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

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

88% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 12% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 3% of their annual salary.

Received Bonus
12%
No Bonus
88%

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 Guam


7 USD per hour

The average hourly wage (pay per hour) in Guam is 7 USD. This means that the average Insurance Appraiser in Guam earns approximately 7 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 Guam
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The average salary for Insurance Appraiser is 7% 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 Analyst1,830 USD+41%
Actuarial Assistant1,270 USD-2%
Actuary1,780 USD+37%
Adjustment Insurance Clerk520 USD-60%
Assistant Broker860 USD-34%
Assistant Claims Manager1,390 USD+7%
Associate Insurance Representative700 USD-46%
Auditing Insurance Manager2,040 USD+57%
Broker1,390 USD+7%
Claim Advocacy Professional1,290 USD-1%
Claims Adjuster500 USD-62%
Claims Analyst700 USD-46%
Claims Examiner690 USD-47%
Claims Manager1,840 USD+42%
Claims Processor480 USD-63%
Claims Representative610 USD-53%
Claims Resolution Specialist1,520 USD+17%
Claims Supervisor1,390 USD+7%
Complaints Specialist1,190 USD-8%
Compliance Officer1,080 USD-17%
Consultant1,370 USD+5%
Eligibility Specialist1,400 USD+8%
Insurance Account Manager1,670 USD+29%
Insurance Accounts Executive1,460 USD+12%
Insurance Agent790 USD-39%
Insurance Analyst1,350 USD+4%
Insurance Appraiser1,300 USD+0%
Insurance Claims Clerk480 USD-63%
Insurance Examiner1,280 USD-1%
Insurance Investigator1,300 USD+0%
Insurance Manager2,280 USD+76%
Insurance Operations Manager2,390 USD+84%
Insurance Policy Processing Clerk510 USD-61%
Insurance Pricing Assistant1,030 USD-21%
Insurance Program Manager1,820 USD+40%
Insurance Project Manager1,740 USD+34%
Insurance Quality Assurance Agent1,130 USD-13%
Insurance Sales Agent800 USD-38%
Insurance Sales Director2,210 USD+70%
Insurance Team Leader1,410 USD+9%
Insurance Underwriter960 USD-26%
Loss Control Specialist1,270 USD-2%
Loss Prevention Investigator1,350 USD+4%
Loss Prevention Manager1,860 USD+43%
Loss Prevention Specialist1,490 USD+15%
Marine Underwriter1,050 USD-19%
Medical Auditor1,350 USD+4%
Monitoring and Performance Officer900 USD-31%
Payment Services Specialist1,300 USD+0%
Policy Change Director2,120 USD+63%
Policy Change Supervisor1,450 USD+12%
Policy Change Technician640 USD-51%
Risk Analyst1,440 USD+11%
Risk Management Director2,470 USD+90%
Risk Management Supervisor1,740 USD+34%
Risk Manager2,570 USD+98%
Risk Modeling Manager2,540 USD+96%
Title Insurance Typist1,180 USD-9%
Training Manager1,500 USD+15%

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 Guam earn 10% more than their private sector counterparts on average across all sectors.

Private Sector
1,350 USD
Public Sector+10%
1,490 USD
Percentage increase and decrease are relative to the previous value

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