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Associate Insurance Representative Average Salary in Hungary 2024

How much money does a person working as Associate Insurance Representative make in Hungary?


Average Monthly Salary
255,000 HUF
( 3,060,000 HUF yearly)

LOW
138,000
HUF
AVERAGE
255,000
HUF
HIGH
385,000
HUF
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 Associate Insurance Representative in Hungary typically earns around 255,000 HUF. Salaries range from 138,000 HUF (lowest) to 385,000 HUF (highest).


Salary Variance

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



Associate Insurance Representative Pay Scale and Salaries in Hungary

Median and salary distribution Hungary Associate Insurance Representative monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
227,000 HUF or more
10% of people earn
204,000 to 227,000 HUF
20% of people earn
151,000 HUF or less
65% of people earn
151,000 to 204,000 HUF
Minimum Salary
138,000 HUF
Median
228,000 HUF
Maximum
385,000 HUF




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 Associate Insurance Representative in Hungary range from 138,000 HUF (starting salary) to 385,000 HUF (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 228,000 HUF, half of the professionals who work as Associate Insurance Representative in Hungary 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 Associate Insurance Representative in Hungary earn less than 191,000 HUF, while 75% earn more. Similarly, the chart shows that 75% earn less than 258,000 HUF 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 Associate Insurance Representative in Hungary compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 151,000 HUF to 204,000 HUF. About 20% of salaries are below the 151,000 HUF mark, while 10% fall within the range of 204,000 HUF to 227,000 HUF. Only 5% of individuals have salaries exceeding 227,000 HUF.

Salary Comparison by Years of Experience / Associate Insurance Representative / Hungary

How do experience and age affect pay?

0 - 2 Years
160,000 HUF
2 - 5 Years+26%
202,000 HUF
5 - 10 Years+32%
267,000 HUF
10 - 15 Years+18%
314,000 HUF
15 - 20 Years+11%
347,000 HUF
20+ Years+6%
369,000 HUF
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Hungary 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 the wage. We broke down salaries by experience level for people working as Associate Insurance Representative 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 160,000 HUF.

While someone with an experience level between two and five years is expected to earn 202,000 HUF, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 267,000 HUF, 32% 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 314,000 HUF, 18% 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 347,000 HUF, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 369,000 HUF, 6% 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 / Associate Insurance Representative / Hungary

How do education levels affect salaries?

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

Certificate or Diploma
202,000 HUF
Bachelor's Degree+32%
267,000 HUF
Master's Degree+37%
366,000 HUF
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Hungary 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 salaries by education level for the position Associate Insurance Representative in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 202,000 HUF.


Level 2: Bachelor's Degree

At this level, the average salary becomes 267,000 HUF, 32% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 366,000 HUF, 37% more than the previous level.



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 Hungary costs anywhere from 2,470,000 HUF to 7,420,000 HUF 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 to a higher-paying job. The numbers seem to support the theory. 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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Salary and Compensation Comparison By Gender / Associate Insurance Representative / Hungary

Salary comparison by gender Hungary Associate Insurance Representative 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 Associate Insurance Representative in Hungary, the average difference between the salary of male and female employees is 6%.

Male
262,000 HUF
Female-6%
247,000 HUF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Hungary for all Careers

Salary comparison by gender monthly Hungary
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Average Annual Salary Increment Percentage / Associate Insurance Representative / Hungary

How much are annual salary increments in Hungary for individuals working as Associate Insurance Representative? How often do employees get salary raises?

Individuals working as Associate Insurance Representative in Hungary are likely to observe a salary increase of approximately 11% every 17 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Hungary 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.

Hungary / All Professions

Annual Salary Increment Rate Hungary
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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 Hungary is 6%.

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 / Associate Insurance Representative / Hungary

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Hungary Associate Insurance Representative
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52% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 48% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.

Received Bonus
48%
No Bonus
52%

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 / Associate Insurance Representative / Hungary


1,470 HUF per hour

The average hourly wage (pay per hour) for individuals working as Associate Insurance Representative in Hungary is 1,470 HUF.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 Associate Insurance Representative in Hungary is 800 HUF. 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 Analyst648,000 HUF+150%
Actuarial Assistant455,000 HUF+78%
Actuarial Specialist460,000 HUF+80%
Actuary655,000 HUF+160%
Adjustment Insurance Clerk180,000 HUF-29%
Assistant Broker286,000 HUF+12%
Assistant Claims Manager517,000 HUF+100%
Associate Insurance Representative255,000 HUF-0%
Auditing Insurance Manager720,000 HUF+180%
Blockchain Insurance Auditor422,000 HUF+65%
Broker487,000 HUF+91%
Claim Advocacy Professional457,000 HUF+79%
Claims Adjuster180,000 HUF-29%
Claims Analyst251,000 HUF-2%
Claims Examiner250,000 HUF-2%
Claims Manager678,000 HUF+170%
Claims Processor178,000 HUF-30%
Claims Representative212,000 HUF-17%
Claims Resolution Specialist490,000 HUF+92%
Claims Supervisor474,000 HUF+86%
Complaints Specialist447,000 HUF+75%
Compliance Examiner442,000 HUF+73%
Compliance Officer388,000 HUF+52%
Compliance Reviewer435,000 HUF+70%
Consultant465,000 HUF+82%
Drone Claims Adjuster201,000 HUF-21%
Eligibility Interviewer513,000 HUF+100%
Eligibility Specialist479,000 HUF+88%
Insurance Account Manager603,000 HUF+140%
Insurance Accounts Executive521,000 HUF+100%
Insurance Adjuster434,000 HUF+70%
Insurance Agent291,000 HUF+14%
Insurance Analyst466,000 HUF+83%
Insurance Appraiser450,000 HUF+76%
Insurance Claims Clerk166,000 HUF-35%
Insurance Compliance Officer529,000 HUF+110%
Insurance Data Scientist431,000 HUF+69%
Insurance Examiner452,000 HUF+77%
Insurance Fraud Investigator388,000 HUF+52%
Insurance Investigator464,000 HUF+82%
Insurance Manager798,000 HUF+210%
Insurance Operations Manager803,000 HUF+210%
Insurance Policy Processing Clerk183,000 HUF-28%
Insurance Pricing Assistant372,000 HUF+46%
Insurance Product Manager546,000 HUF+110%
Insurance Program Manager594,000 HUF+130%
Insurance Project Manager593,000 HUF+130%
Insurance Quality Assurance Agent414,000 HUF+62%
Insurance Sales Agent292,000 HUF+14%
Insurance Sales Director790,000 HUF+210%
Insurance Sales Manager608,000 HUF+140%
Insurance Sales Representative255,000 HUF-0%
Insurance Team Leader483,000 HUF+89%
Insurance Underwriter339,000 HUF+33%
Insurtech Analyst428,000 HUF+68%
Loss Control Specialist434,000 HUF+70%
Loss Prevention Investigator466,000 HUF+83%
Loss Prevention Manager652,000 HUF+160%
Loss Prevention Specialist526,000 HUF+110%
Marine Underwriter356,000 HUF+39%
Medical Auditor471,000 HUF+84%
Monitoring and Performance Officer333,000 HUF+30%
Parametric Insurance Specialist468,000 HUF+83%
Payment Services Specialist450,000 HUF+76%
Peer-to-Peer Insurance Manager558,000 HUF+120%
Policy Change Director742,000 HUF+190%
Policy Change Supervisor512,000 HUF+100%
Policy Change Technician229,000 HUF-10%
Risk Analyst526,000 HUF+110%
Risk Management Director910,000 HUF+260%
Risk Management Supervisor587,000 HUF+130%
Risk Manager872,000 HUF+240%
Risk Modeling Manager870,000 HUF+240%
Social Media Risk Analyst487,000 HUF+91%
Title Insurance Typist401,000 HUF+57%
Training Manager498,000 HUF+95%
Underwriting Assistant242,000 HUF-5%

Salary Comparison By City

CityAverage Salary
Budapest273,000 HUF

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 Hungary is 9% on average across all career fields.

Private Sector
476,000 HUF
Public Sector+9%
518,000 HUF
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 Associate Insurance Representative in Hungary?

A good and competitive compensation would range anywhere between 228,000 HUF and 258,000 HUF. 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 Associate Insurance Representative in Hungary ranges from 138,000 HUF to 191,000 HUF. 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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