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Insurance Pricing Assistant Average Salary in Kenya 2024

How much money does a person working as Insurance Pricing Assistant make in Kenya?


Average Monthly Salary
115,000 KES
( 1,380,000 KES yearly)

LOW
56,300
KES
AVERAGE
115,000
KES
HIGH
179,000
KES
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 Insurance Pricing Assistant in Kenya typically earns around 115,000 KES. Salaries range from 56,300 KES (lowest) to 179,000 KES (highest).


Salary Variance

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



Insurance Pricing Assistant Pay Scale and Salaries in Kenya

Median and salary distribution Kenya Insurance Pricing Assistant monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
106,000 KES or more
10% of people earn
94,100 to 106,000 KES
20% of people earn
66,800 KES or less
65% of people earn
66,800 to 94,100 KES
Minimum Salary
56,300 KES
Median
107,000 KES
Maximum
179,000 KES




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 Insurance Pricing Assistant in Kenya range from 56,300 KES (starting salary) to 179,000 KES (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 107,000 KES, half of the professionals who work as Insurance Pricing Assistant in Kenya 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 Insurance Pricing Assistant in Kenya earn less than 87,600 KES, while 75% earn more. Similarly, the chart shows that 75% earn less than 122,000 KES 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 Insurance Pricing Assistant in Kenya compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 66,800 KES to 94,100 KES. About 20% of salaries are below the 66,800 KES mark, while 10% fall within the range of 94,100 KES to 106,000 KES. Only 5% of individuals have salaries exceeding 106,000 KES.

Salary Comparison by Years of Experience / Insurance Pricing Assistant / Kenya

How do experience and age affect pay?

0 - 2 Years
66,700 KES
2 - 5 Years+29%
85,800 KES
5 - 10 Years+38%
118,000 KES
10 - 15 Years+24%
147,000 KES
15 - 20 Years+7%
157,000 KES
20+ Years+7%
167,000 KES
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Kenya Insurance Pricing Assistant
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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 Insurance Pricing Assistant 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 66,700 KES.

While someone with an experience level between two and five years is expected to earn 85,800 KES, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 118,000 KES, 38% 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 147,000 KES, 24% 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 157,000 KES, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 167,000 KES, 7% 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 and Compensation Comparison By Gender / Insurance Pricing Assistant / Kenya

Salary comparison by gender Kenya Insurance Pricing Assistant 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 Insurance Pricing Assistant in Kenya, the average difference between the salary of male and female employees is 10%.

Male
119,000 KES
Female-9%
109,000 KES
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Kenya for all Careers

Salary comparison by gender monthly Kenya
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Average Annual Salary Increment Percentage / Insurance Pricing Assistant / Kenya

How much are annual salary increments in Kenya for individuals working as Insurance Pricing Assistant? How often do employees get salary raises?

Individuals working as Insurance Pricing Assistant in Kenya are likely to observe a salary increase of approximately 6% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Kenya Insurance Pricing Assistant
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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.

Kenya / All Professions

Annual Salary Increment Rate Kenya
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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 Kenya is 2%.

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 Pricing Assistant / Kenya

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kenya Insurance Pricing Assistant
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87% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 13% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
13%
No Bonus
87%

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 / Insurance Pricing Assistant / Kenya


660 KES per hour

The average hourly wage (pay per hour) for individuals working as Insurance Pricing Assistant in Kenya is 660 KES.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 Insurance Pricing Assistant in Kenya is 320 KES. 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 Analyst209,000 KES+82%
Actuarial Assistant149,000 KES+30%
Actuarial Specialist152,000 KES+32%
Actuary195,000 KES+70%
Adjustment Insurance Clerk57,400 KES-50%
Assistant Broker96,200 KES-16%
Assistant Claims Manager169,000 KES+47%
Associate Insurance Representative79,100 KES-31%
Auditing Insurance Manager232,000 KES+100%
Blockchain Insurance Auditor138,000 KES+20%
Broker147,000 KES+28%
Claim Advocacy Professional146,000 KES+27%
Claims Adjuster58,700 KES-49%
Claims Analyst83,000 KES-28%
Claims Examiner75,900 KES-34%
Claims Manager208,000 KES+81%
Claims Processor55,500 KES-52%
Claims Representative66,200 KES-42%
Claims Resolution Specialist159,000 KES+38%
Claims Supervisor150,000 KES+31%
Complaints Specialist144,000 KES+25%
Compliance Examiner151,000 KES+31%
Compliance Officer122,000 KES+6%
Compliance Reviewer136,000 KES+18%
Consultant159,000 KES+38%
Drone Claims Adjuster65,200 KES-43%
Eligibility Interviewer164,000 KES+43%
Eligibility Specialist153,000 KES+33%
Insurance Account Manager184,000 KES+60%
Insurance Accounts Executive162,000 KES+41%
Insurance Adjuster138,000 KES+20%
Insurance Agent91,400 KES-20%
Insurance Analyst151,000 KES+31%
Insurance Appraiser152,000 KES+32%
Insurance Claims Clerk56,800 KES-51%
Insurance Compliance Officer174,000 KES+52%
Insurance Data Scientist144,000 KES+25%
Insurance Examiner142,000 KES+24%
Insurance Fraud Investigator131,000 KES+14%
Insurance Investigator147,000 KES+28%
Insurance Manager259,000 KES+130%
Insurance Operations Manager258,000 KES+120%
Insurance Policy Processing Clerk58,700 KES-49%
Insurance Pricing Assistant115,000 KES+0%
Insurance Product Manager187,000 KES+63%
Insurance Program Manager195,000 KES+70%
Insurance Project Manager202,000 KES+76%
Insurance Quality Assurance Agent127,000 KES+11%
Insurance Sales Agent95,000 KES-17%
Insurance Sales Director258,000 KES+120%
Insurance Sales Manager203,000 KES+77%
Insurance Sales Representative76,000 KES-34%
Insurance Team Leader156,000 KES+36%
Insurance Underwriter108,000 KES-6%
Insurtech Analyst134,000 KES+17%
Loss Control Specialist152,000 KES+32%
Loss Prevention Investigator165,000 KES+44%
Loss Prevention Manager212,000 KES+85%
Loss Prevention Specialist157,000 KES+37%
Marine Underwriter112,000 KES-2%
Medical Auditor153,000 KES+33%
Monitoring and Performance Officer111,000 KES-3%
Parametric Insurance Specialist158,000 KES+38%
Payment Services Specialist159,000 KES+38%
Peer-to-Peer Insurance Manager187,000 KES+63%
Policy Change Director244,000 KES+110%
Policy Change Supervisor170,000 KES+48%
Policy Change Technician77,000 KES-33%
Risk Analyst164,000 KES+43%
Risk Management Director288,000 KES+150%
Risk Management Supervisor188,000 KES+64%
Risk Manager283,000 KES+150%
Risk Modeling Manager287,000 KES+150%
Social Media Risk Analyst160,000 KES+39%
Title Insurance Typist130,000 KES+13%
Training Manager168,000 KES+46%
Underwriting Assistant76,300 KES-34%

Salary Comparison By City

CityAverage Salary
Mombasa122,000 KES
Nairobi132,000 KES

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 Kenya is 14% on average across all career fields.

Private Sector
140,000 KES
Public Sector+14%
159,000 KES
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 Insurance Pricing Assistant in Kenya?

A good and competitive compensation would range anywhere between 107,000 KES and 122,000 KES. 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 Insurance Pricing Assistant in Kenya ranges from 56,300 KES to 87,600 KES. 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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