Risk Modeling Manager Average Salary in Cebu 2024
How much money does a person working as Risk Modeling Manager make in Cebu?
LOW
44,600
PHP AVERAGE
89,200
PHP HIGH
138,000
PHP
A person working as Risk Modeling Manager in Cebu typically earns around 89,200 PHP. Salaries range from 44,600 PHP (lowest) to 138,000 PHP (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Risk Modeling Manager salaries in Cebu vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Risk Modeling Manager Pay Scale and Salaries in Cebu
Salary Structure and Pay Scale Comparison
82,000 PHP or more
72,700 to 82,000 PHP
52,100 PHP or less
52,100 to 72,700 PHP
 44,600 PHP |
82,500 PHP |
138,000 PHP |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Risk Modeling Manager in Cebu range from 44,600 PHP (starting salary) to 138,000 PHP (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 82,500 PHP, half of the professionals who work as Risk Modeling Manager in Cebu 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 Risk Modeling Manager in Cebu earn less than 67,800 PHP, while 75% earn more. Similarly, the chart shows that 75% earn less than 94,100 PHP 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 Risk Modeling Manager in Cebu compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 52,100 PHP to 72,700 PHP. About 20% of salaries are below the 52,100 PHP mark, while 10% fall within the range of 72,700 PHP to 82,000 PHP. Only 5% of individuals have salaries exceeding 82,000 PHP.
Salary Comparison by Years of Experience / Risk Modeling Manager / Cebu
How do experience and age affect pay?
| 0 - 2 Years | 53,500 PHP | |
| 2 - 5 Years | +32% | 70,800 PHP |
| 5 - 10 Years | +34% | 94,700 PHP |
| 10 - 15 Years | +19% | 113,000 PHP |
| 15 - 20 Years | +8% | 122,000 PHP |
| 20+ Years | +7% | 131,000 PHP |
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 Risk Modeling Manager and this is what we found.
Employees with less than two years of experience earn approximately 53,500 PHP.
While someone with an experience level between two and five years is expected to earn 70,800 PHP, 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 94,700 PHP, 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 113,000 PHP, 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 122,000 PHP, 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 131,000 PHP, 7% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Risk Modeling Manager / Cebu
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Risk Modeling Manager.
| Bachelor's Degree | 76,400 PHP | |
| Master's Degree | +58% | 120,000 PHP |
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 Risk Modeling Manager in order to make a comparison.
Level 1: Bachelor's Degree
Employees at this education level have an average salary of 76,400 PHP.
Level 2: Master's Degree
At this level, the average salary becomes 120,000 PHP, 58% 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 Philippines costs anywhere from 224,000 PHP to 671,000 PHP 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 and Compensation Comparison By Gender / Risk Modeling Manager / Cebu
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 Risk Modeling Manager in Philippines, the average difference between the salary of male and female employees is 15%.
| Male | 85,800 PHP | |
| Female | -13% | 74,800 PHP |
Salary Comparison By Gender in Philippines for all Careers
Average Annual Salary Increment Percentage / Risk Modeling Manager / Cebu
How much are annual salary increments in Cebu for individuals working as Risk Modeling Manager? How often do employees get salary raises?
Individuals working as Risk Modeling Manager in Philippines are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
Philippines / All Professions
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
Worldwide Salary Raises: All Countries and All Jobs
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 / Risk Modeling Manager / Philippines
How much and how often are bonuses being awarded?
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100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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 / Risk Modeling Manager / Cebu
510 PHP per hourThe average hourly wage (pay per hour) for individuals working as Risk Modeling Manager in Cebu is 510 PHP.This is the rate they get paid for every worked hour.
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 Risk Modeling Manager in Cebu is 260 PHP. 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 Title | Average Salary |
| Insurance |  -100% | |
| Actuarial Analyst | 67,800 PHP | -24% |
| Actuarial Assistant | 47,000 PHP | -47% |
| Actuarial Specialist | 46,900 PHP | -47% |
| Actuary | 67,200 PHP | -25% |
| Adjustment Insurance Clerk | 17,300 PHP | -81% |
| Assistant Broker | 31,700 PHP | -64% |
| Assistant Claims Manager | 53,300 PHP | -40% |
| Associate Insurance Representative | 25,200 PHP | -72% |
| Auditing Insurance Manager | 75,300 PHP | -16% |
| Blockchain Insurance Auditor | 43,600 PHP | -51% |
| Broker | 49,100 PHP | -45% |
| Claim Advocacy Professional | 48,400 PHP | -46% |
| Claims Adjuster | 18,600 PHP | -79% |
| Claims Analyst | 25,600 PHP | -71% |
| Claims Examiner | 25,200 PHP | -72% |
| Claims Manager | 67,400 PHP | -24% |
| Claims Processor | 17,500 PHP | -80% |
| Claims Representative | 20,700 PHP | -77% |
| Claims Resolution Specialist | 51,200 PHP | -43% |
| Claims Supervisor | 50,700 PHP | -43% |
| Complaints Specialist | 46,900 PHP | -47% |
| Compliance Examiner | 48,200 PHP | -46% |
| Compliance Officer | 37,700 PHP | -58% |
| Compliance Reviewer | 46,900 PHP | -47% |
| Consultant | 50,700 PHP | -43% |
| Drone Claims Adjuster | 21,000 PHP | -76% |
| Eligibility Interviewer | 54,300 PHP | -39% |
| Eligibility Specialist | 50,600 PHP | -43% |
| Insurance Account Manager | 60,400 PHP | -32% |
| Insurance Accounts Executive | 51,200 PHP | -43% |
| Insurance Adjuster | 46,200 PHP | -48% |
| Insurance Agent | 28,400 PHP | -68% |
| Insurance Analyst | 48,600 PHP | -46% |
| Insurance Appraiser | 49,900 PHP | -44% |
| Insurance Claims Clerk | 18,200 PHP | -80% |
| Insurance Compliance Officer | 54,200 PHP | -39% |
| Insurance Data Scientist | 43,600 PHP | -51% |
| Insurance Examiner | 44,200 PHP | -50% |
| Insurance Fraud Investigator | 38,700 PHP | -57% |
| Insurance Investigator | 44,700 PHP | -50% |
| Insurance Manager | 83,000 PHP | -7% |
| Insurance Operations Manager | 84,600 PHP | -5% |
| Insurance Policy Processing Clerk | 17,400 PHP | -80% |
| Insurance Pricing Assistant | 36,800 PHP | -59% |
| Insurance Product Manager | 59,500 PHP | -33% |
| Insurance Program Manager | 61,200 PHP | -31% |
| Insurance Project Manager | 64,700 PHP | -27% |
| Insurance Quality Assurance Agent | 41,200 PHP | -54% |
| Insurance Sales Agent | 30,300 PHP | -66% |
| Insurance Sales Director | 81,700 PHP | -8% |
| Insurance Sales Manager | 61,500 PHP | -31% |
| Insurance Sales Representative | 26,100 PHP | -71% |
| Insurance Team Leader | 50,500 PHP | -43% |
| Insurance Underwriter | 35,900 PHP | -60% |
| Insurtech Analyst | 46,000 PHP | -48% |
| Loss Control Specialist | 46,400 PHP | -48% |
| Loss Prevention Investigator | 49,200 PHP | -45% |
| Loss Prevention Manager | 67,800 PHP | -24% |
| Loss Prevention Specialist | 54,000 PHP | -39% |
| Marine Underwriter | 38,000 PHP | -57% |
| Medical Auditor | 49,000 PHP | -45% |
| Monitoring and Performance Officer | 33,700 PHP | -62% |
| Parametric Insurance Specialist | 46,800 PHP | -48% |
| Payment Services Specialist | 47,400 PHP | -47% |
| Peer-to-Peer Insurance Manager | 56,300 PHP | -37% |
| Policy Change Director | 76,400 PHP | -14% |
| Policy Change Supervisor | 52,000 PHP | -42% |
| Policy Change Technician | 23,000 PHP | -74% |
| Risk Analyst | 56,800 PHP | -36% |
| Risk Management Director | 97,000 PHP |  +9% |
| Risk Management Supervisor | 61,800 PHP | -31% |
| Risk Manager | 90,500 PHP | +1% |
| Risk Modeling Manager | 89,200 PHP | +0% |
| Social Media Risk Analyst | 49,900 PHP | -44% |
| Title Insurance Typist | 41,700 PHP | -53% |
| Training Manager | 55,300 PHP | -38% |
| Underwriting Assistant | 25,900 PHP | -71% |
Salary Comparison By City
| City | Average Salary |
| Cebu | 89,200 PHP |
| Manila | 98,200 PHP |
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 Philippines is 12% on average across all career fields.
| Private Sector | 42,300 PHP | |
| Public Sector | +12% | 47,300 PHP |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Risk Modeling Manager in Cebu?
A good and competitive compensation would range anywhere between 82,500 PHP and 94,100 PHP. 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 Risk Modeling Manager in Cebu ranges from 44,600 PHP to 67,800 PHP. 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
