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Insurance Appraiser Average Salary in Hong Kong 2024

How much money does a person working as Insurance Appraiser make in Hong Kong?


Average Monthly Salary
35,200 HKD
( 422,000 HKD yearly)

LOW
17,600
HKD
AVERAGE
35,200
HKD
HIGH
54,600
HKD
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 as Insurance Appraiser in Hong Kong typically earns around 35,200 HKD. Salaries range from 17,600 HKD (lowest) to 54,600 HKD (highest).


Salary Variance

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



Insurance Appraiser Pay Scale and Salaries in Hong Kong

Median and salary distribution Hong Kong Insurance Appraiser monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
32,400 HKD or more
10% of people earn
28,700 to 32,400 HKD
20% of people earn
20,600 HKD or less
65% of people earn
20,600 to 28,700 HKD
Minimum Salary
17,600 HKD
Median
32,600 HKD
Maximum
54,600 HKD




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 for the position Insurance Appraiser in Hong Kong range from 17,600 HKD (starting salary) to 54,600 HKD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 32,600 HKD, half of the professionals who work as Insurance Appraiser in Hong Kong earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Insurance Appraiser in Hong Kong earn less than 26,800 HKD, while 75% earn more. Similarly, the chart shows that 75% earn less than 37,100 HKD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Insurance Appraiser in Hong Kong compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 20,600 HKD to 28,700 HKD. About 20% of salaries are below the 20,600 HKD mark, while 10% fall within the range of 28,700 HKD to 32,400 HKD. Only 5% of individuals have salaries exceeding 32,400 HKD.

Salary Comparison by Years of Experience / Insurance Appraiser / Hong Kong

How do experience and age affect pay?

0 - 2 Years
21,100 HKD
2 - 5 Years+32%
28,000 HKD
5 - 10 Years+34%
37,400 HKD
10 - 15 Years+19%
44,600 HKD
15 - 20 Years+8%
48,100 HKD
20+ Years+7%
51,600 HKD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Hong Kong 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 the wage. We broke down salaries by experience level for people working as Insurance Appraiser and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 21,100 HKD.

While someone with an experience level between two and five years is expected to earn 28,000 HKD, 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 37,400 HKD, 34% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 44,600 HKD, 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 48,100 HKD, 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 51,600 HKD, 7% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Insurance Appraiser / Hong Kong

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Insurance Appraiser.

Certificate or Diploma
31,300 HKD
Bachelor's Degree+56%
48,700 HKD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Hong Kong 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 salaries by education level for the position Insurance Appraiser in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 31,300 HKD.


Level 2: Bachelor's Degree

At this level, the average salary becomes 48,700 HKD, 56% more than the previous level.



Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Insurance Appraiser / Hong Kong

Salary comparison by gender Hong Kong Insurance Appraiser 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? For the people who work as Insurance Appraiser in Hong Kong, the average difference between the salary of male and female employees is 5%.

Male
36,100 HKD
Female-5%
34,200 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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Average Annual Salary Increment Percentage / Insurance Appraiser / Hong Kong

How much are annual salary increments in Hong Kong for individuals working as Insurance Appraiser? How often do employees get salary raises?

Individuals working as Insurance Appraiser in Hong Kong are likely to observe a salary increase of approximately 7% 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 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.

Hong Kong / All Professions

Annual Salary Increment Rate Hong Kong
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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 Hong Kong is 2%.

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 Appraiser / Hong Kong

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Hong Kong Insurance Appraiser
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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.

Average Hourly Wage / Insurance Appraiser / Hong Kong


200 HKD per hour

The average hourly wage (pay per hour) for individuals working as Insurance Appraiser in Hong Kong is 200 HKD.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 as Insurance Appraiser in Hong Kong is 100 HKD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Insurance-100%
Actuarial Analyst45,300 HKD+29%
Actuarial Assistant31,700 HKD-10%
Actuarial Specialist32,100 HKD-9%
Actuary46,100 HKD+31%
Adjustment Insurance Clerk12,600 HKD-64%
Assistant Broker21,300 HKD-39%
Assistant Claims Manager37,800 HKD+7%
Associate Insurance Representative18,900 HKD-46%
Auditing Insurance Manager50,300 HKD+43%
Blockchain Insurance Auditor33,300 HKD-5%
Broker35,800 HKD+2%
Claim Advocacy Professional34,300 HKD-3%
Claims Adjuster12,500 HKD-64%
Claims Analyst17,500 HKD-50%
Claims Examiner17,400 HKD-51%
Claims Manager47,200 HKD+34%
Claims Processor12,400 HKD-65%
Claims Representative15,400 HKD-56%
Claims Resolution Specialist36,700 HKD+4%
Claims Supervisor36,400 HKD+3%
Complaints Specialist33,000 HKD-6%
Compliance Examiner31,900 HKD-9%
Compliance Officer28,500 HKD-19%
Compliance Reviewer31,400 HKD-11%
Consultant33,600 HKD-5%
Drone Claims Adjuster15,800 HKD-55%
Eligibility Interviewer37,600 HKD+7%
Eligibility Specialist36,700 HKD+4%
Insurance Account Manager44,700 HKD+27%
Insurance Accounts Executive38,200 HKD+9%
Insurance Adjuster31,300 HKD-11%
Insurance Agent21,500 HKD-39%
Insurance Analyst35,700 HKD+1%
Insurance Appraiser35,200 HKD-0%
Insurance Claims Clerk13,000 HKD-63%
Insurance Compliance Officer40,200 HKD+14%
Insurance Data Scientist32,700 HKD-7%
Insurance Examiner32,000 HKD-9%
Insurance Fraud Investigator29,400 HKD-16%
Insurance Investigator32,700 HKD-7%
Insurance Manager59,300 HKD+68%
Insurance Operations Manager61,100 HKD+74%
Insurance Policy Processing Clerk12,900 HKD-63%
Insurance Pricing Assistant28,400 HKD-19%
Insurance Product Manager41,400 HKD+18%
Insurance Program Manager44,400 HKD+26%
Insurance Project Manager42,800 HKD+22%
Insurance Quality Assurance Agent28,800 HKD-18%
Insurance Sales Agent20,600 HKD-41%
Insurance Sales Director55,100 HKD+57%
Insurance Sales Manager46,100 HKD+31%
Insurance Sales Representative17,900 HKD-49%
Insurance Team Leader38,200 HKD+9%
Insurance Underwriter25,400 HKD-28%
Insurtech Analyst32,400 HKD-8%
Loss Control Specialist32,300 HKD-8%
Loss Prevention Investigator34,700 HKD-1%
Loss Prevention Manager48,400 HKD+37%
Loss Prevention Specialist39,000 HKD+11%
Marine Underwriter27,300 HKD-22%
Medical Auditor35,000 HKD-1%
Monitoring and Performance Officer24,100 HKD-32%
Parametric Insurance Specialist33,900 HKD-4%
Payment Services Specialist33,500 HKD-5%
Peer-to-Peer Insurance Manager40,100 HKD+14%
Policy Change Director56,800 HKD+61%
Policy Change Supervisor39,100 HKD+11%
Policy Change Technician17,500 HKD-50%
Risk Analyst40,100 HKD+14%
Risk Management Director69,300 HKD+97%
Risk Management Supervisor44,600 HKD+27%
Risk Manager66,200 HKD+88%
Risk Modeling Manager66,000 HKD+87%
Social Media Risk Analyst37,000 HKD+5%
Title Insurance Typist30,500 HKD-13%
Training Manager37,200 HKD+6%
Underwriting Assistant18,500 HKD-47%

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 Hong Kong is 10% on average across all career fields.

Private Sector
35,600 HKD
Public Sector+10%
39,300 HKD
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 for the job title Insurance Appraiser in Hong Kong?

A good and competitive compensation would range anywhere between 32,600 HKD and 37,100 HKD. 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 a careers like Insurance Appraiser in Hong Kong ranges from 17,600 HKD to 26,800 HKD. 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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