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Insurance Average Salaries in Albania 2023

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

Average Monthly Salary
96,400 ALL
( 1,160,000 ALL yearly)


A person working in Insurance in Albania typically earns around 96,400 ALL per month. Salaries range from 35,700 ALL (lowest average) to 186,000 ALL (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst139,000 ALL
Actuarial Assistant98,400 ALL
Actuary137,000 ALL
Adjustment Insurance Clerk38,600 ALL
Assistant Broker66,000 ALL
Assistant Claims Manager109,000 ALL
Associate Insurance Representative50,500 ALL
Auditing Insurance Manager155,000 ALL
Broker99,200 ALL
Claim Advocacy Professional104,000 ALL
Claims Adjuster38,900 ALL
Claims Analyst54,500 ALL
Claims Examiner54,700 ALL
Claims Manager149,000 ALL
Claims Processor39,300 ALL
Claims Representative45,500 ALL
Claims Resolution Specialist112,000 ALL
Claims Supervisor95,100 ALL
Complaints Specialist89,800 ALL
Compliance Officer80,400 ALL
Consultant103,000 ALL
Eligibility Specialist96,600 ALL
Insurance Account Manager119,000 ALL
Insurance Accounts Executive107,000 ALL
Insurance Agent57,900 ALL
Insurance Analyst94,500 ALL
Insurance Appraiser101,000 ALL
Insurance Claims Clerk37,500 ALL
Insurance Examiner92,800 ALL
Insurance Investigator95,600 ALL
Insurance Manager171,000 ALL
Insurance Operations Manager169,000 ALL
Insurance Policy Processing Clerk37,800 ALL
Insurance Pricing Assistant77,000 ALL
Insurance Program Manager136,000 ALL
Insurance Project Manager131,000 ALL
Insurance Quality Assurance Agent90,900 ALL
Insurance Sales Agent60,700 ALL
Insurance Sales Director171,000 ALL
Insurance Team Leader102,000 ALL
Insurance Underwriter76,700 ALL
Loss Control Specialist102,000 ALL
Loss Prevention Investigator110,000 ALL
Loss Prevention Manager140,000 ALL
Loss Prevention Specialist102,000 ALL
Marine Underwriter71,300 ALL
Medical Auditor101,000 ALL
Monitoring and Performance Officer73,000 ALL
Payment Services Specialist106,000 ALL
Policy Change Director151,000 ALL
Policy Change Supervisor105,000 ALL
Policy Change Technician47,100 ALL
Risk Analyst109,000 ALL
Risk Management Director190,000 ALL
Risk Management Supervisor123,000 ALL
Risk Manager184,000 ALL
Risk Modeling Manager185,000 ALL
Title Insurance Typist84,600 ALL
Training Manager115,000 ALL

Insurance Jobs Pay Scale and Salaries in Albania

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

5% of people earn
96,700 ALL or more
10% of people earn
81,600 to 96,700 ALL
20% of people earn
48,200 ALL or less
65% of people earn
48,200 to 81,600 ALL
Minimum Salary
35,700 ALL
88,100 ALL
186,000 ALL

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

  • Salary Range, Minimum Wage, and Starting Salary

    Insurance salaries in Albania range from 35,700 ALL per month (starting average salary) to 186,000 ALL per month (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.

  • Median Salary

    The median salary is 88,100 ALL per month, which means that half (50%) of people working in Insurance are earning less than 88,100 ALL while the other half are earning more than 88,100 ALL. 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 and Salary Scale

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Insurance are earning less than 67,900 ALL while 75% of them are earning more than 67,900 ALL. Also from the diagram, 75% of people working in Insurance are earning less than 106,000 ALL while 25% are earning more than 106,000 ALL.

  • Pay Scale Structure

    We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 48,200 ALL to 81,600 ALL. Approximatly 20% fall under the 48,200 ALL cap. Ten percent of wages are from 81,600 ALL to 96,700 ALL. Only 5% of people grossed 96,700 ALL or more.

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 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.

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.

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.

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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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 degrees levels across many jobs, below are our findings.

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.

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 cerificate 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 Albania costs anywhere from 480,000 Lek(s) to 1,440,000 Lek(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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Salary and Compensation Comparison By Gender - Insurance

Salary comparison by gender Albania 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? Male employees in Albania who work in Insurance earn 7% more than their female counterparts on average.

99,300 ALL
92,400 ALL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Albania for all Careers

Salary comparison by gender monthly Albania
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Insurance Average Annual Salary Increment Percentage in Albania

How much are annual salary increments in Albania for Insurance professionals? How often do employees get salary raises?


Insurance professionals in Albania are likely to observe a salary increase of approximately 5% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Albania 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.

Albania / All Professions

Annual Salary Increment Rate Albania
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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 Albania is 2%.

Annual Increment Rate By Industry 2022

Information Technology

Listed above are the average annual increase rates for each industry in Albania for the year 2022. 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

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.

Insurance Bonus and Incentive Rates in Albania

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Albania Insurance
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Insurance is considered to be a moderate bonus-based field. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

64% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 36% 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
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.

Insurance Salary Forecast and Trend in Albania

How do Insurance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Average Salary 2019
85,500 ALL
Average Salary 2020+4%
88,700 ALL
Average Salary 2021+3%
91,200 ALL
Average Salary 2022+2%
92,900 ALL
Percentage increase and decrease are relative to the previous value

Insurance salaries in Albania are rising in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 2% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.

Salary trends and forecast monthly Albania Insurance
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Insurance Hourly Average Wage in Albania

560 ALL per hour

The average hourly wage (pay per hour) in Albania is 560 ALL. This means that the average person in Albania earns approximately 560 ALL 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 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.

What is the minimum hourly rate of pay?

This minimum pay rate per hour for a person in Albania is 210 ALL. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Insurance VS Other Jobs

96,400 ALL
96,100 ALL
Average Salary
Average Salary
All Jobs

The average salary for Insurance is 0% more than that of All Jobs.

Salary Comparison Between Insurance and Insurance monthly Albania
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Salary Comparison By City

CityAverage Salary
Berat93,600 ALL
Durres105,000 ALL
Elbasan102,000 ALL
Fier97,800 ALL
Gjirokaster92,000 ALL
Korca96,000 ALL
Lezhe88,500 ALL
Sarande90,200 ALL
Shkodra100,000 ALL
Tirana107,000 ALL
Vlore104,000 ALL

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 Albania earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
91,300 ALL
Public Sector+14%
104,000 ALL
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 Insurance in Albania?

A good and competitive compensation would range anywhere between 88,100 ALL and 106,000 ALL. This is a very rough estimate and your experience and education will play a very huge part into your 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 salart after tax for every career.

Base / Basic Salary

The base salary for Insurance in Albania is ranges from 67,900 ALL to 106,000 ALL. 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 in 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 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

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