Average Associate Insurance Representative Salary in Mexico for 2024

In this article, we will look at the average Associate Insurance Representative salary for 2024 in Mexico 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 Mexican peso. To keep things simple, we are using the MXN currency code instead of the currency symbol $.

How Much Does an Associate Insurance Representative Make in Mexico?

An Associate Insurance Representative working in Mexico will typically earn around 209,500 MXN per year, and this can range from the lowest average salary of about 105,300 MXN to the highest average salary of 327,800 MXN.

Average Annual Salary
209,500 MXN
Average Monthly Salary
17,458 MXN

Lowest Annual Salary
105,300 MXN
Lowest Monthly Salary
8,775 MXN

Highest Annual Salary
327,800 MXN
Highest Monthly Salary
27,316 MXN

These are average salaries for an Associate Insurance Representative in Mexico 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 Mexico

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

Salary ranges

We already know that an Associate Insurance Representative can earn between 105,300 MXN and 327,800 MXN on average in Mexico. 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 Mexico is 209,500 MXN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 209,500 MXN, and 50% of the population earn more than 209,500 MXN.

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 Mexico, 25% of the population are earning less than 143,200 MXN while 75% of the population earn more than 143,200 MXN.

75% of the population earn less than 268,900 MXN, and 25% of the population earn more than 268,900 MXN.

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 Mexico

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 Mexico that has less than two years of experience can expect to earn somewhere in the region of 125,700 MXN.
  • 2 - 5 Years Experience. With two to five years of experience the average Associate Insurance Representative salary would increase to 167,100 MXN.
  • 5 - 10 Years Experience. From five to ten years of experience as an Associate Insurance Representative, the average salary would be 225,700 MXN.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 267,100 MXN.
  • 15 - 20 Years Experience. An Associate Insurance Representative with 15 to 20 years of experience can earn an average of 290,800 MXN.
  • 20+ Years Experience. For an Associate Insurance Representative with more than 20 years, the expected average salary increases to 308,300 MXN.

Average Salary by Experience Chart

0-2 Years
125,700 MXN
2-5 Years +32%
167,100 MXN
5-10 Years +34%
225,700 MXN
10-15 Years +19%
267,100 MXN
15-20 Years +8%
290,800 MXN
20+ Years +7%
308,300 MXN

Associate Insurance Representative Salary by Education Level in Mexico

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 Mexico 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 Mexico with a certificate or diploma education can earn an average salary of 167,100 MXN.

  • Bachelor's Degree. An Associate Insurance Representative in Mexico with a bachelor's degree education can earn an average salary of 231,000 MXN.

  • Master's Degree. An Associate Insurance Representative in Mexico with a master's degree education can earn an average salary of 296,000 MXN.

Average Salary by Education Chart

Certificate or Diploma
167,100 MXN
Bachelor's Degree +37%
231,000 MXN
Master's Degree +29%
296,000 MXN

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 Mexico is around 166,000 to 498,000 MXN 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 Mexico, a male associate insurance representative will earn an average of 216,800 MXN, while a female associate insurance representative will earn around 205,700 MXN.

This means that a male associate insurance representative earns approximately 5% more than a female associate insurance representative for performing the same job.

Average Salary by Gender Chart in Mexico

Male
216,800 MXN
Female -5%
205,700 MXN

Associate Insurance Representative Average Pay Raise in Mexico

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 Mexico is around 10% every 18 months.

The national average pay raise across all professions and industries in Mexico is around 8% every 18 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 = ( 10 ÷ 18 ) × 12  = 7%

What this means is that an Associate Insurance Representative in Mexico can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Mexico for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Associate Insurance Representative Bonus and Incentive Rates in Mexico

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 moderate bonus based job, with 53% of employees reporting at least one bonus in the last 12 months.

47% 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
53%
No Bonus
47%

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 Mexico earn approximately 8% more than private sector employees in the same role.

Public Sector
415,900 MXN
Private Sector -8%
384,200 MXN

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 Mexico.

Job Title Category Salary
Actuarial Analyst Insurance 555,800 MXN
Actuarial Assistant Insurance 367,200 MXN
Actuarial Specialist Insurance 386,400 MXN
Actuary Insurance 535,900 MXN
Adjustment Insurance Clerk Insurance 150,000 MXN
Assistant Broker Insurance 243,000 MXN
Assistant Claims Manager Insurance 424,300 MXN
Auditing Insurance Manager Insurance 618,800 MXN
Broker Insurance 420,100 MXN
Claim Advocacy Professional Insurance 406,300 MXN
Claims Adjuster Insurance 146,200 MXN
Claims Analyst Insurance 209,500 MXN
Claims Examiner Insurance 221,500 MXN
Claims Manager Insurance 562,200 MXN
Claims Processor Insurance 152,300 MXN
Claims Representative Insurance 187,500 MXN
Claims Resolution Specialist Insurance 450,300 MXN
Claims Supervisor Insurance 384,500 MXN
Complaints Specialist Insurance 378,300 MXN
Compliance Examiner Insurance 383,300 MXN
Compliance Officer Insurance 312,400 MXN
Compliance Reviewer Insurance 390,000 MXN
Consultant Insurance 399,900 MXN
Eligibility Interviewer Insurance 426,700 MXN
Eligibility Specialist Insurance 404,600 MXN
Insurance Account Manager Insurance 478,000 MXN
Insurance Accounts Executive Insurance 442,300 MXN
Insurance Adjuster Insurance 367,200 MXN
Insurance Agent Insurance 249,600 MXN
Insurance Analyst Insurance 412,000 MXN
Insurance Appraiser Insurance 389,200 MXN
Insurance Claims Clerk Insurance 151,800 MXN
Insurance Examiner Insurance 382,600 MXN
Insurance Investigator Insurance 371,100 MXN
Insurance Manager Insurance 684,900 MXN
Insurance Operations Manager Insurance 698,200 MXN
Insurance Policy Processing Clerk Insurance 152,000 MXN
Insurance Pricing Assistant Insurance 315,900 MXN
Insurance Program Manager Insurance 514,800 MXN
Insurance Project Manager Insurance 510,200 MXN
Insurance Quality Assurance Agent Insurance 341,900 MXN
Insurance Sales Agent Insurance 228,000 MXN
Insurance Sales Director Insurance 639,100 MXN
Insurance Sales Manager Insurance 539,700 MXN
Insurance Sales Representative Insurance 208,600 MXN
Insurance Team Leader Insurance 436,200 MXN
Insurance Underwriter Insurance 301,800 MXN
Loss Control Specialist Insurance 378,800 MXN
Loss Prevention Investigator Insurance 424,900 MXN
Loss Prevention Manager Insurance 558,300 MXN
Loss Prevention Specialist Insurance 424,900 MXN
Marine Underwriter Insurance 290,800 MXN
Medical Auditor Insurance 403,100 MXN
Monitoring and Performance Officer Insurance 292,000 MXN
Payment Services Specialist Insurance 409,000 MXN
Policy Change Director Insurance 618,800 MXN
Policy Change Supervisor Insurance 442,300 MXN
Policy Change Technician Insurance 187,300 MXN
Risk Analyst Insurance 466,900 MXN
Risk Management Director Insurance 759,300 MXN
Risk Management Supervisor Insurance 510,200 MXN
Risk Manager Insurance 713,900 MXN
Risk Modeling Manager Insurance 744,700 MXN
Title Insurance Typist Insurance 327,300 MXN
Training Manager Insurance 424,900 MXN

Salary Comparison by City

If you want to compare salaries with different cities in Mexico, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Acapulco 251,500 MXN
Acuna 196,800 MXN
Aguascalientes 253,400 MXN
Boca del Rio 172,200 MXN
Buenavista 194,600 MXN
Campeche 195,200 MXN
Cancun 252,300 MXN
Celaya 221,500 MXN
Chalco 191,600 MXN
Chetumal 172,200 MXN
Chicoloapan 190,500 MXN
Chihuahua 275,500 MXN
Chilpancingo 195,200 MXN
Chimalhuacan 253,400 MXN
Cholula de Rivadabia 189,300 MXN
Ciudad Apodaca 227,600 MXN
Ciudad del Carmen 192,600 MXN
Ciudad Juarez 187,300 MXN
Ciudad Lopez Mateos 247,800 MXN
Ciudad Obregon 225,300 MXN
Ciudad Santa Catarina 222,300 MXN
Ciudad Valles 172,200 MXN
Ciudad Victoria 221,500 MXN
Coacalco 221,500 MXN
Coatzacoalcos 196,800 MXN
Colima 172,200 MXN
Cordoba 169,000 MXN
Cuautitlan Izcalli 246,500 MXN
Cuautla 187,500 MXN
Cuernavaca 221,500 MXN
Culiacan 261,300 MXN
Delicias 172,400 MXN
Durango 252,300 MXN
Ecatepec de Morelos 273,000 MXN
Ensenada 221,500 MXN
Fresnillo 167,100 MXN
General Escobedo 227,600 MXN
Gomez Palacio 222,300 MXN
Guadalajara 275,200 MXN
Guadalupe 240,500 MXN
Guaymas 167,100 MXN
Hermosillo 253,400 MXN
Hidalgo del Parral 164,200 MXN
Iguala 169,000 MXN
Irapuato 225,300 MXN
Ixtapaluca 221,500 MXN
Jiutepec 192,600 MXN
La Paz 201,100 MXN
Leon 275,500 MXN
Los Mochis 204,000 MXN
Los Reyes la Paz 204,700 MXN
Manzanillo 172,400 MXN
Matamoros 247,800 MXN
Mazatlan 222,300 MXN
Merida 246,500 MXN
Metepec 201,100 MXN
Mexicali 247,800 MXN
Mexico City 275,200 MXN
Minatitlan 164,200 MXN
Monclova 196,800 MXN
Monterrey 275,200 MXN
Morelia 245,300 MXN
Naucalpan 275,200 MXN
Navojoa 163,800 MXN
Nezahualcoyotl 275,200 MXN
Nogales 194,600 MXN
Nuevo Laredo 221,500 MXN
Oaxaca 215,100 MXN
Ojo de Agua 208,600 MXN
Orizaba 163,800 MXN
Pachuca 212,500 MXN
Piedras Negras 189,300 MXN
Playa del Carmen 183,700 MXN
Poza Rica 192,000 MXN
Puebla 273,000 MXN
Puerto Vallarta 195,200 MXN
Queretaro 247,800 MXN
Reynosa 251,500 MXN
Salamanca 192,600 MXN
Saltillo 252,300 MXN
San Cristobal de las Casas 197,600 MXN
San Juan del Rio 172,200 MXN
San Luis Potosi 246,200 MXN
San Luis Rio Colorado 174,000 MXN
San Nicolas de los Garza 243,000 MXN
San Pablo de las Salinas 197,600 MXN
San Pedro Garza Garcia 161,600 MXN
Soledad de Graciano Sanchez 200,000 MXN
Tampico 217,900 MXN
Tapachula 192,600 MXN
Tehuacan 216,800 MXN
Tepic 221,500 MXN
Tijuana 275,200 MXN
Tlalnepantla de Baz 240,500 MXN
Tlaquepaque 246,200 MXN
Toluca 246,500 MXN
Tonala 221,500 MXN
Torreon 246,500 MXN
Tuxtla Gutierrez 247,800 MXN
Uruapan 218,900 MXN
Veracruz 245,300 MXN
Villa Nicolas Romero 221,500 MXN
Villahermosa 221,500 MXN
Xalapa 225,700 MXN
Xico 221,500 MXN
Zacatecas 168,100 MXN
Zamora de Hidalgo 167,100 MXN
Zapopan 275,500 MXN

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Associate Insurance Representative Salary in Mexico for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-associate-insurance-representative-salary-in-mexico/.

  • "Average Associate Insurance Representative Salary in Mexico for 2024". World Salaries, https://worldsalaries.com/average-associate-insurance-representative-salary-in-mexico/. Accessed 28 March, 2024

  • Average Associate Insurance Representative Salary in Mexico for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-associate-insurance-representative-salary-in-mexico/.