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Associate Insurance Representative Average Salary in Hong Kong 2021

How much money does an Associate Insurance Representative make in Hong Kong?

Average Monthly Salary
18,900 HKD
( 227,000 HKD yearly)


A person working as an Associate Insurance Representative in Hong Kong typically earns around 18,900 HKD per month. Salaries range from 10,000 HKD (lowest) to 28,700 HKD (highest).

This is the average monthly salary including housing, transport, and other benefits. Associate Insurance Representative salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Associate Insurance Representative Salary Distribution in Hong Kong

Median and salary distribution monthly Hong Kong Associate Insurance Representative
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The median, the maximum, the minimum, and the range

  • Salary Range

    Associate Insurance Representative salaries in Hong Kong range from 10,000 HKD per month (minimum salary) to 28,700 HKD per month (maximum salary).

  • Median Salary

    The median salary is 17,800 HKD per month, which means that half (50%) of people working as Associate Insurance Representative(s) are earning less than 17,800 HKD while the other half are earning more than 17,800 HKD. 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 Associate Insurance Representative(s) are earning less than 12,500 HKD while 75% of them are earning more than 12,500 HKD. Also from the diagram, 75% of Associate Insurance Representative(s) are earning less than 21,800 HKD while 25% are earning more than 21,800 HKD.

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

Associate Insurance Representative Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Hong Kong Associate Insurance Representative
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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 Associate Insurance Representative salaries by experience level and this is what we found.

An Associate Insurance Representative with less than two years of experience makes approximately 11,500 HKD per month.

While someone with an experience level between two and five years is expected to earn 14,100 HKD 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 20,000 HKD 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, Associate Insurance Representative(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 23,400 HKD 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 25,700 HKD 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 27,200 HKD per month, 6% more than people with fifteen to twenty years of experience.

Associate Insurance Representative average salary change by experience in Hong Kong

0 - 2 Years
11,500 HKD
2 - 5 Years+23%
14,100 HKD
5 - 10 Years+42%
20,000 HKD
10 - 15 Years+17%
23,400 HKD
15 - 20 Years+10%
25,700 HKD
20+ Years+6%
27,200 HKD
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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Associate Insurance Representative Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Associate Insurance Representative(s) who have the same experience but different education levels.

Salary comparison by education level monthly Hong Kong Associate Insurance Representative
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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 Associate Insurance Representative salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of an Associate Insurance Representative is 14,100 HKD per month.

While someone with a Bachelor's Degree gets a salary of 18,200 HKD per month, 29% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 26,100 HKD per month, 43% more than someone with a Bachelor's Degree.

Associate Insurance Representative average salary difference by education level in Hong Kong

Certificate or Diploma
14,100 HKD
Bachelor's Degree+29%
18,200 HKD
Master's Degree+43%
26,100 HKD
Percentage increase and decrease are relative to the previous value

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 Hong Kong costs anywhere from 183,000 Hong Kong Dollar(s) to 549,000 Hong Kong Dollar(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 the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Associate Insurance Representative Salary Comparison By Gender

Salary comparison by gender monthly Hong Kong Associate Insurance Representative
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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 Associate Insurance Representative employees in Hong Kong earn 10% more than their female counterparts on average.

19,600 HKD
17,900 HKD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Hong Kong for all Careers

Salary comparison by gender monthly Hong Kong
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Associate Insurance Representative Average Annual Salary Increment Percentage in Hong Kong

How much are annual salary increments in Hong Kong for Associate Insurance Representative(s)? How often do employees get salary raises?

Associate Insurance Representative

Associate Insurance Representative(s) in Hong Kong are likely to observe a salary increase of approximately 6% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Hong Kong Associate Insurance Representative
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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.

Hong Kong / 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 Hong Kong is 2%.

Annual Increment Rate By Industry 2020

Information Technology

Listed above are the average annual increase rates for each industry in Hong Kong 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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Associate Insurance Representative Bonus and Incentive Rates in Hong Kong

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Hong Kong Associate Insurance Representative
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An Associate Insurance Representative is considered to be a moderate 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.

67% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 33% 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
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.

Associate Insurance Representative Average Hourly Wage in Hong Kong

110 HKD per hour

The average hourly wage (pay per hour) in Hong Kong is 110 HKD. This means that the average Associate Insurance Representative in Hong Kong earns approximately 110 HKD 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.

Associate Insurance Representative VS Other Jobs

Salary Comparison Between Associate Insurance Representative and Insurance monthly Hong Kong
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The average salary for Associate Insurance Representative is 49% 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 Analyst45,300 HKD+140%
Actuarial Assistant31,700 HKD+68%
Actuary46,100 HKD+140%
Adjustment Insurance Clerk12,600 HKD-33%
Assistant Broker21,300 HKD+13%
Assistant Claims Manager37,800 HKD+100%
Associate Insurance Representative18,900 HKD+0%
Auditing Insurance Manager50,300 HKD+170%
Broker35,800 HKD+89%
Claim Advocacy Professional34,300 HKD+82%
Claims Adjuster12,500 HKD-34%
Claims Analyst17,500 HKD-7%
Claims Examiner17,400 HKD-8%
Claims Manager47,200 HKD+150%
Claims Processor12,400 HKD-34%
Claims Representative15,400 HKD-18%
Claims Resolution Specialist36,700 HKD+94%
Claims Supervisor36,400 HKD+93%
Complaints Specialist33,000 HKD+75%
Compliance Officer28,500 HKD+51%
Consultant33,600 HKD+78%
Eligibility Specialist36,700 HKD+94%
Insurance Account Manager44,700 HKD+140%
Insurance Accounts Executive38,200 HKD+100%
Insurance Agent21,500 HKD+14%
Insurance Analyst35,700 HKD+89%
Insurance Appraiser35,200 HKD+86%
Insurance Claims Clerk13,000 HKD-31%
Insurance Examiner32,000 HKD+69%
Insurance Investigator32,700 HKD+73%
Insurance Manager59,300 HKD+210%
Insurance Operations Manager61,100 HKD+220%
Insurance Policy Processing Clerk12,900 HKD-32%
Insurance Pricing Assistant28,400 HKD+50%
Insurance Program Manager44,400 HKD+140%
Insurance Project Manager42,800 HKD+130%
Insurance Quality Assurance Agent28,800 HKD+52%
Insurance Sales Agent20,600 HKD+9%
Insurance Sales Director55,100 HKD+190%
Insurance Team Leader38,200 HKD+100%
Insurance Underwriter25,400 HKD+34%
Loss Control Specialist32,300 HKD+71%
Loss Prevention Investigator34,700 HKD+84%
Loss Prevention Manager48,400 HKD+160%
Loss Prevention Specialist39,000 HKD+110%
Marine Underwriter27,300 HKD+45%
Medical Auditor35,000 HKD+85%
Monitoring and Performance Officer24,100 HKD+28%
Payment Services Specialist33,500 HKD+77%
Policy Change Director56,800 HKD+200%
Policy Change Supervisor39,100 HKD+110%
Policy Change Technician17,500 HKD-7%
Risk Analyst40,100 HKD+110%
Risk Management Director69,300 HKD+270%
Risk Management Supervisor44,600 HKD+140%
Risk Manager66,200 HKD+250%
Risk Modeling Manager66,000 HKD+250%
Title Insurance Typist30,500 HKD+61%
Training Manager37,200 HKD+97%

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

Private Sector
35,500 HKD
Public Sector+10%
39,200 HKD
Percentage increase and decrease are relative to the previous value

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