Average Insurance Pricing Assistant Salary in Vina del Mar, Chile for 2024
In this article, we will look at the average Insurance Pricing Assistant salary for 2024 in Vina del Mar and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!
The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.
All salary information is in the local currency, which is the Chilean peso. To keep things simple, we are using the CLP currency code instead of the currency symbol $.
How Much Does an Insurance Pricing Assistant Make in Vina Del Mar?
An Insurance Pricing Assistant working in Vina del Mar will typically earn around 18,239,400 CLP per year, and this can range from the lowest average salary of about 9,456,600 CLP to the highest average salary of 27,841,200 CLP.
These are average salaries for an Insurance Pricing Assistant in Vina del Mar and include benefits such as housing and transport. It's also possible for an Insurance Pricing Assistant to earn more or less than the average salaries shown above.
Insurance Pricing Assistant salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.
Distribution of Insurance Pricing Assistant Salaries in Vina del Mar
So we've looked at the average salaries an Insurance Pricing Assistant will earn in Vina del Mar. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that an Insurance Pricing Assistant can earn between 9,456,600 CLP and 27,841,200 CLP on average in Vina del Mar. This is known as the range in statistics.
The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.
Median salary
The median salary for an Insurance Pricing Assistant in Vina del Mar is 17,399,400 CLP. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 17,399,400 CLP, and 50% of the population earn more than 17,399,400 CLP.
If you are earning more than the median salary, that's a good indicator that you are being paid well.
If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).
Percentiles
Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.
For the average Insurance Pricing Assistant salary in Vina del Mar, 25% of the population are earning less than 12,121,000 CLP while 75% of the population earn more than 12,121,000 CLP.
75% of the population earn less than 21,719,900 CLP, and 25% of the population earn more than 21,719,900 CLP.
Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.
The difference between a median and an average salary
The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.
- If your salary is higher than the average and the median salary, you are earning well compared to others.
- If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
- If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.
Insurance Pricing Assistant Salary by Experience Level in Vina del Mar
The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.
We have researched the average insurance pricing assistant salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.
- 0 - 2 Years Experience. An Insurance Pricing Assistant in Vina del Mar that has less than two years of experience can expect to earn somewhere in the region of 10,739,300 CLP.
- 2 - 5 Years Experience. With two to five years of experience the average Insurance Pricing Assistant salary would increase to 14,400,800 CLP.
- 5 - 10 Years Experience. From five to ten years of experience as an Insurance Pricing Assistant, the average salary would be 18,720,200 CLP.
- 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 22,681,800 CLP.
- 15 - 20 Years Experience. An Insurance Pricing Assistant with 15 to 20 years of experience can earn an average of 24,841,800 CLP.
- 20+ Years Experience. For an Insurance Pricing Assistant with more than 20 years, the expected average salary increases to 26,040,800 CLP.
Average Salary by Experience Chart
0-2 Years |
10,739,300 CLP
|
|
2-5 Years | +34% |
14,400,800 CLP
|
5-10 Years | +30% |
18,720,200 CLP
|
10-15 Years | +21% |
22,681,800 CLP
|
15-20 Years | +9% |
24,841,800 CLP
|
20+ Years | +5% |
26,040,800 CLP
|
Insurance Pricing Assistant Salary by Education Level in Vina del Mar
As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?
In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.
The salary you can earn based on your education is very specific to both your location and the career path you choose.
The data we have below is combined across all professions. To view the most accurate data possible, you can select a specific job from the list below.
Employees that have earned a certificate or diploma from a post-secondary program can expect to earn approximately 17% more than those who only completed high school level.
If you have a bachelor's degree, you can expect to earn approximately 25% more than those who only completed to a certificate or diploma level.
For professionals reaching the master's degree level, your salary would be around 30% higher than those with a bachelor's degree.
If you are able to achieve a PhD, you can expect to earn approximately 22% more than those with a master's degree for the same job role.
How Much is a Master's Degree or MBA Program?
The approximate cost of a master's degree or post-graduate program like an MBA in Chile is around 9,340,000 to 28,000,000 CLP and takes two years to complete.
As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.
It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.
Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.
Insurance Pricing Assistant Salary Compared by Gender
In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.
In Vina del Mar, a male insurance pricing assistant will earn an average of 18,359,600 CLP, while a female insurance pricing assistant will earn around 16,918,700 CLP.
This means that a male insurance pricing assistant earns approximately 9% more than a female insurance pricing assistant for performing the same job.
Average Salary by Gender Chart in Vina del Mar
Male |
18,359,600 CLP
|
|
Female | -9% |
16,918,700 CLP
|
Insurance Pricing Assistant Average Pay Raise in Vina del Mar
In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.
From our research, we can see that the average pay raise for an Insurance Pricing Assistant in Vina del Mar is around 9% every 19 months.
The national average pay raise across all professions and industries in Chile is around 7% every 19 months.
In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.
To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:
Annual Increase = ( Increase Rate ÷ Months ) × 12
So for this example, it would be:
Annual Increase = ( 9 ÷ 19 ) × 12 = 6%
What this means is that an Insurance Pricing Assistant in Vina del Mar can expect to receive an average pay raise of around 6% every 12 months.
Annual Pay Raise by Industry in Vina del Mar for 2024
In the chart below, you can see the average annual pay raise percentages for each of the major industries in Chile.
You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.
Banking |
7%
|
|
Energy |
5%
|
|
Information Technology |
3%
|
|
Healthcare |
1%
|
|
Travel |
8%
|
|
Construction |
6%
|
|
Education |
4%
|
Insurance Pricing Assistant Bonus and Incentive Rates in Vina del Mar
Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.
Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.
An Insurance Pricing Assistant is a low bonus based job, with 31% of employees reporting at least one bonus in the last 12 months.
69% reported that they had not received any bonuses in the previous 12 months.
For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 0% to 4%.
Received Bonus |
31%
|
|
No Bonus |
69%
|
What are the Types of Bonus?
There are a number of difference types of bonus you can receive in a job. Including:
- Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
- Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
- Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
- Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.
Government vs Private Sector Salaries
Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.
Public sector employees in Chile earn approximately 7% more than private sector employees in the same role.
Public Sector |
23,399,000 CLP
|
|
Private Sector | -7% |
21,841,900 CLP
|
Salaries for Jobs Similar to an Insurance Pricing Assistant
In the table below, we have salary information for jobs that are similar to an Insurance Pricing Assistant in Vina del Mar.
Salary Comparison by City
If you want to compare salaries with different cities in Chile, you can use the links below to explore the data for each specific city we have researched.
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