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Insurance Average Salaries in Germany 2024

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

Average Monthly Salary
3,780 EUR
( 45,300 EUR yearly)

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 in Insurance in Germany typically earns around 3,780 EUR. Salaries range from 1,420 EUR (lowest average) to 7,370 EUR (highest average, actual maximum salary is higher).

Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Insurance domain in Germany exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst4,910 EUR
Actuarial Assistant3,390 EUR
Actuarial Specialist3,360 EUR
Actuary4,980 EUR
Adjustment Insurance Clerk1,390 EUR
Assistant Broker2,440 EUR
Assistant Claims Manager4,170 EUR
Associate Insurance Representative1,880 EUR
Auditing Insurance Manager5,450 EUR
Blockchain Insurance Auditor3,440 EUR
Broker3,560 EUR
Claim Advocacy Professional3,790 EUR
Claims Adjuster1,340 EUR
Claims Analyst1,840 EUR
Claims Examiner1,990 EUR
Claims Manager5,300 EUR
Claims Processor1,370 EUR
Claims Representative1,600 EUR
Claims Resolution Specialist4,000 EUR
Claims Supervisor3,580 EUR
Complaints Specialist3,450 EUR
Compliance Examiner3,610 EUR
Compliance Officer2,990 EUR
Compliance Reviewer3,500 EUR
Consultant3,800 EUR
Drone Claims Adjuster1,610 EUR
Eligibility Interviewer3,880 EUR
Eligibility Specialist3,560 EUR
Insurance Account Manager4,510 EUR
Insurance Accounts Executive4,080 EUR
Insurance Adjuster3,430 EUR
Insurance Agent2,100 EUR
Insurance Analyst3,760 EUR
Insurance Appraiser3,780 EUR
Insurance Claims Clerk1,380 EUR
Insurance Compliance Officer4,050 EUR
Insurance Data Scientist3,580 EUR
Insurance Examiner3,330 EUR
Insurance Fraud Investigator3,170 EUR
Insurance Investigator3,350 EUR
Insurance Manager6,270 EUR
Insurance Operations Manager6,360 EUR
Insurance Policy Processing Clerk1,430 EUR
Insurance Pricing Assistant2,810 EUR
Insurance Product Manager4,390 EUR
Insurance Program Manager4,760 EUR
Insurance Project Manager4,850 EUR
Insurance Quality Assurance Agent3,240 EUR
Insurance Sales Agent2,250 EUR
Insurance Sales Director5,880 EUR
Insurance Sales Manager5,050 EUR
Insurance Sales Representative1,940 EUR
Insurance Team Leader4,010 EUR
Insurance Underwriter2,810 EUR
Insurtech Analyst3,380 EUR
Loss Control Specialist3,530 EUR
Loss Prevention Investigator3,730 EUR
Loss Prevention Manager5,120 EUR
Loss Prevention Specialist4,060 EUR
Marine Underwriter2,690 EUR
Medical Auditor3,700 EUR
Monitoring and Performance Officer2,550 EUR
Parametric Insurance Specialist3,520 EUR
Payment Services Specialist3,600 EUR
Peer-to-Peer Insurance Manager4,560 EUR
Policy Change Director5,890 EUR
Policy Change Supervisor3,990 EUR
Policy Change Technician1,760 EUR
Risk Analyst4,310 EUR
Risk Management Director7,330 EUR
Risk Management Supervisor4,650 EUR
Risk Manager6,790 EUR
Risk Modeling Manager6,660 EUR
Social Media Risk Analyst3,730 EUR
Title Insurance Typist3,120 EUR
Training Manager4,260 EUR
Underwriting Assistant1,830 EUR

Insurance Jobs Pay Scale and Salaries in Germany

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

5% of people earn
3,950 EUR or more
10% of people earn
3,330 to 3,950 EUR
20% of people earn
1,970 EUR or less
65% of people earn
1,970 to 3,330 EUR
Minimum Salary
1,420 EUR
3,560 EUR
7,370 EUR

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 in Insurance in Germany range from 1,420 EUR (starting average salary) to 7,370 EUR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Insurance is 3,560 EUR, implying that half of the workforce in Germany earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Insurance in Germany earn less than 2,750 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 4,300 EUR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Insurance in Germany. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,970 EUR to 3,330 EUR. Approximately 20% of salaries were below the 1,970 EUR mark, while 10% ranged from 3,330 EUR to 3,950 EUR. Only 5% of individuals earned a gross salary of 3,950 EUR or higher.

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 in Insurance in Germany 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.

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.

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.
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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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.

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 degree levels across many jobs in Insurance in Germany, below are our findings.

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 certificate 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 Germany costs anywhere from 19,100 EUR to 57,400 EUR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

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

Salary and Compensation Comparison By Gender / Insurance / Germany

Salary comparison by gender Germany 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? In the field of Insurance in Germany, the average difference between the salary of male and female employees is 6%.

3,890 EUR
3,670 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Germany for all Careers

Salary comparison by gender monthly Germany
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Average Annual Salary Increment Percentage / Insurance / Germany

How much are annual salary increments in Germany for individuals working in Insurance? How often do employees get salary raises?

Professionals working in Insurance in Germany are likely to observe a salary increase of approximately 9% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate Germany 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.

Germany / All Professions

Annual Salary Increment Rate Germany
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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 Germany 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 / Insurance / Germany

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Germany Insurance
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41% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 59% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 2% to 7% 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.

Hourly Average Wage / Insurance / Germany

22 EUR per hour

The average hourly wage (pay per hour) in Insurance in Germany is 22 EUR.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 in Insurance in Germany is 8 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Berlin4,300 EUR
Bremen3,730 EUR
Dortmund3,640 EUR
Dresden3,510 EUR
Dusseldorf3,950 EUR
Essen3,800 EUR
Frankfurt4,010 EUR
Hamburg4,230 EUR
Hannover3,430 EUR
Koln4,090 EUR
Leipzig3,580 EUR
Munchen4,160 EUR
Nurnberg3,360 EUR
Stuttgart3,870 EUR

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 Germany is 5% on average across all career fields.

Private Sector
3,740 EUR
Public Sector+5%
3,910 EUR
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 in Insurance in Germany?

A good and competitive compensation would range anywhere between 3,560 EUR and 4,300 EUR. 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 jobs in Insurance in Germany ranges from 1,420 EUR to 2,750 EUR. 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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