Average Associate Insurance Representative Salary in Åland Islands for 2024

In this article, we will look at the average Associate Insurance Representative salary for 2024 in Åland Islands 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 Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol €.

How Much Does an Associate Insurance Representative Make in Åland Islands?

An Associate Insurance Representative working in Åland Islands will typically earn around 22,420 EUR per year, and this can range from the lowest average salary of about 12,840 EUR to the highest average salary of 34,380 EUR.

Average Annual Salary
22,420 EUR
Average Monthly Salary
1,868 EUR

Lowest Annual Salary
12,840 EUR
Lowest Monthly Salary
1,070 EUR

Highest Annual Salary
34,380 EUR
Highest Monthly Salary
2,865 EUR

These are average salaries for an Associate Insurance Representative in Åland Islands and include benefits such as housing and transport. It's also possible for an Associate Insurance Representative to earn more or less than the average salaries shown above.

Associate Insurance Representative 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 Associate Insurance Representative Salaries in Åland Islands

So we've looked at the average salaries an Associate Insurance Representative will earn in Åland Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Associate Insurance Representative can earn between 12,840 EUR and 34,380 EUR on average in Åland Islands. 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 Associate Insurance Representative in Åland Islands is 23,660 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 23,660 EUR, and 50% of the population earn more than 23,660 EUR.

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 Associate Insurance Representative salary in Åland Islands, 25% of the population are earning less than 17,100 EUR while 75% of the population earn more than 17,100 EUR.

75% of the population earn less than 31,380 EUR, and 25% of the population earn more than 31,380 EUR.

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.

Associate Insurance Representative Salary by Experience Level in Åland Islands

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 associate insurance representative 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 Associate Insurance Representative in Åland Islands that has less than two years of experience can expect to earn somewhere in the region of 13,540 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Associate Insurance Representative salary would increase to 19,640 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as an Associate Insurance Representative, the average salary would be 22,400 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 30,800 EUR.
  • 15 - 20 Years Experience. An Associate Insurance Representative with 15 to 20 years of experience can earn an average of 32,620 EUR.
  • 20+ Years Experience. For an Associate Insurance Representative with more than 20 years, the expected average salary increases to 33,520 EUR.

Average Salary by Experience Chart

0-2 Years
13,540 EUR
2-5 Years +42%
19,640 EUR
5-10 Years +32%
22,400 EUR
10-15 Years +23%
30,800 EUR
15-20 Years +6%
32,620 EUR
20+ Years +10%
33,520 EUR

Associate Insurance Representative Salary by Education Level in Åland Islands

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.

In our research, we looked at the average salary for an Associate Insurance Representative in Åland Islands based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. An Associate Insurance Representative in Åland Islands with a certificate or diploma education can earn an average salary of 15,760 EUR.

  • Bachelor's Degree. An Associate Insurance Representative in Åland Islands with a bachelor's degree education can earn an average salary of 25,940 EUR.

  • Master's Degree. An Associate Insurance Representative in Åland Islands with a master's degree education can earn an average salary of 35,560 EUR.

Average Salary by Education Chart

Certificate or Diploma
15,760 EUR
Bachelor's Degree +59%
25,940 EUR
Master's Degree +33%
35,560 EUR

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 Åland Islands is around 18,200 to 54,600 EUR 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.

Associate Insurance Representative 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 Åland Islands, a male associate insurance representative will earn an average of 23,140 EUR, while a female associate insurance representative will earn around 23,400 EUR.

This means that a male associate insurance representative earns approximately 1% less than a female associate insurance representative for performing the same job.

Average Salary by Gender Chart in Åland Islands

Male
23,140 EUR
Female +1%
23,400 EUR

Associate Insurance Representative Average Pay Raise in Åland Islands

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 Associate Insurance Representative in Åland Islands is around 7% every 28 months.

The national average pay raise across all professions and industries in Åland Islands is around 5% every 28 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 = ( 7 ÷ 28 ) × 12  = 3%

What this means is that an Associate Insurance Representative in Åland Islands can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Åland Islands for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Åland Islands.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Associate Insurance Representative Bonus and Incentive Rates in Åland Islands

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 Associate Insurance Representative is a low bonus based job, with 38% of employees reporting at least one bonus in the last 12 months.

62% 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 3% to 6%.

Received Bonus
38%
No Bonus
62%

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 Åland Islands earn approximately 17% more than private sector employees in the same role.

Public Sector
47,120 EUR
Private Sector -17%
40,240 EUR

Salaries for Jobs Similar to an Associate Insurance Representative

In the table below, we have salary information for jobs that are similar to an Associate Insurance Representative in Åland Islands.

Job Title Category Salary
Actuarial Analyst Insurance 59,940 EUR
Actuarial Assistant Insurance 42,320 EUR
Actuarial Specialist Insurance 43,220 EUR
Actuary Insurance 58,520 EUR
Adjustment Insurance Clerk Insurance 18,260 EUR
Assistant Broker Insurance 32,020 EUR
Assistant Claims Manager Insurance 49,700 EUR
Auditing Insurance Manager Insurance 68,060 EUR
Broker Insurance 44,540 EUR
Claim Advocacy Professional Insurance 45,720 EUR
Claims Adjuster Insurance 18,260 EUR
Claims Analyst Insurance 24,280 EUR
Claims Examiner Insurance 23,500 EUR
Claims Manager Insurance 61,680 EUR
Claims Processor Insurance 15,300 EUR
Claims Representative Insurance 19,380 EUR
Claims Resolution Specialist Insurance 50,520 EUR
Claims Supervisor Insurance 42,960 EUR
Complaints Specialist Insurance 41,660 EUR
Compliance Examiner Insurance 41,820 EUR
Compliance Officer Insurance 37,620 EUR
Compliance Reviewer Insurance 43,340 EUR
Consultant Insurance 45,620 EUR
Eligibility Interviewer Insurance 48,160 EUR
Eligibility Specialist Insurance 43,760 EUR
Insurance Account Manager Insurance 54,460 EUR
Insurance Accounts Executive Insurance 47,720 EUR
Insurance Adjuster Insurance 43,260 EUR
Insurance Agent Insurance 25,160 EUR
Insurance Analyst Insurance 45,600 EUR
Insurance Appraiser Insurance 48,740 EUR
Insurance Claims Clerk Insurance 16,400 EUR
Insurance Examiner Insurance 41,980 EUR
Insurance Investigator Insurance 42,460 EUR
Insurance Manager Insurance 79,360 EUR
Insurance Operations Manager Insurance 77,100 EUR
Insurance Policy Processing Clerk Insurance 17,620 EUR
Insurance Pricing Assistant Insurance 35,000 EUR
Insurance Program Manager Insurance 60,460 EUR
Insurance Project Manager Insurance 59,000 EUR
Insurance Quality Assurance Agent Insurance 39,960 EUR
Insurance Sales Agent Insurance 25,160 EUR
Insurance Sales Director Insurance 71,280 EUR
Insurance Sales Manager Insurance 58,720 EUR
Insurance Sales Representative Insurance 22,420 EUR
Insurance Team Leader Insurance 48,760 EUR
Insurance Underwriter Insurance 34,360 EUR
Loss Control Specialist Insurance 47,120 EUR
Loss Prevention Investigator Insurance 50,240 EUR
Loss Prevention Manager Insurance 61,680 EUR
Loss Prevention Specialist Insurance 47,760 EUR
Marine Underwriter Insurance 35,500 EUR
Medical Auditor Insurance 46,160 EUR
Monitoring and Performance Officer Insurance 30,700 EUR
Payment Services Specialist Insurance 48,740 EUR
Policy Change Director Insurance 69,720 EUR
Policy Change Supervisor Insurance 50,580 EUR
Policy Change Technician Insurance 23,380 EUR
Risk Analyst Insurance 51,100 EUR
Risk Management Director Insurance 89,280 EUR
Risk Management Supervisor Insurance 56,460 EUR
Risk Manager Insurance 86,760 EUR
Risk Modeling Manager Insurance 83,900 EUR
Title Insurance Typist Insurance 40,560 EUR
Training Manager Insurance 53,860 EUR

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