Average Auditing Insurance Manager Salary in Jersey for 2024

In this article, we will look at the average Auditing Insurance Manager salary for 2024 in Jersey 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 British pound. To keep things simple, we are using the GBP currency code instead of the currency symbol £.

How Much Does an Auditing Insurance Manager Make in Jersey?

An Auditing Insurance Manager working in Jersey will typically earn around 97,900 GBP per year, and this can range from the lowest average salary of about 47,540 GBP to the highest average salary of 159,100 GBP.

Average Annual Salary
97,900 GBP
Average Monthly Salary
8,158 GBP

Lowest Annual Salary
47,540 GBP
Lowest Monthly Salary
3,961 GBP

Highest Annual Salary
159,100 GBP
Highest Monthly Salary
13,258 GBP

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

Auditing Insurance Manager 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 Auditing Insurance Manager Salaries in Jersey

So we've looked at the average salaries an Auditing Insurance Manager will earn in Jersey. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Auditing Insurance Manager can earn between 47,540 GBP and 159,100 GBP on average in Jersey. 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 Auditing Insurance Manager in Jersey is 106,440 GBP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 106,440 GBP, and 50% of the population earn more than 106,440 GBP.

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 Auditing Insurance Manager salary in Jersey, 25% of the population are earning less than 67,320 GBP while 75% of the population earn more than 67,320 GBP.

75% of the population earn less than 142,300 GBP, and 25% of the population earn more than 142,300 GBP.

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.

Auditing Insurance Manager Salary by Experience Level in Jersey

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 auditing insurance manager 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 Auditing Insurance Manager in Jersey that has less than two years of experience can expect to earn somewhere in the region of 50,180 GBP.
  • 2 - 5 Years Experience. With two to five years of experience the average Auditing Insurance Manager salary would increase to 69,780 GBP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Auditing Insurance Manager, the average salary would be 101,120 GBP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 124,400 GBP.
  • 15 - 20 Years Experience. An Auditing Insurance Manager with 15 to 20 years of experience can earn an average of 137,400 GBP.
  • 20+ Years Experience. For an Auditing Insurance Manager with more than 20 years, the expected average salary increases to 148,300 GBP.

Average Salary by Experience Chart

0-2 Years
50,180 GBP
2-5 Years +34%
69,780 GBP
5-10 Years +48%
101,120 GBP
10-15 Years +22%
124,400 GBP
15-20 Years +9%
137,400 GBP
20+ Years +8%
148,300 GBP

Auditing Insurance Manager Salary by Education Level in Jersey

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 Auditing Insurance Manager in Jersey based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Auditing Insurance Manager in Jersey with a bachelor's degree education can earn an average salary of 60,180 GBP.

  • Master's Degree. An Auditing Insurance Manager in Jersey with a master's degree education can earn an average salary of 117,660 GBP.

Average Salary by Education Chart

Bachelor's Degree
60,180 GBP
Master's Degree +93%
117,660 GBP

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 Jersey is around 25,800 to 77,300 GBP 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.

Auditing Insurance Manager 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 Jersey, a male auditing insurance manager will earn an average of 107,960 GBP, while a female auditing insurance manager will earn around 90,660 GBP.

This means that a male auditing insurance manager earns approximately 19% more than a female auditing insurance manager for performing the same job.

Average Salary by Gender Chart in Jersey

Male
107,960 GBP
Female -19%
90,660 GBP

Auditing Insurance Manager Average Pay Raise in Jersey

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 Auditing Insurance Manager in Jersey is around 9% every 29 months.

The national average pay raise across all professions and industries in Jersey 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 = ( 9 ÷ 29 ) × 12  = 4%

What this means is that an Auditing Insurance Manager in Jersey can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Jersey for 2024

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

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

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Auditing Insurance Manager Bonus and Incentive Rates in Jersey

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 Auditing Insurance Manager is a moderate bonus based job, with 68% of employees reporting at least one bonus in the last 12 months.

32% 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 5% to 9%.

Received Bonus
68%
No Bonus
32%

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 Jersey earn approximately 19% more than private sector employees in the same role.

Public Sector
66,840 GBP
Private Sector -19%
56,060 GBP

Salaries for Jobs Similar to an Auditing Insurance Manager

In the table below, we have salary information for jobs that are similar to an Auditing Insurance Manager in Jersey.

Job Title Category Salary
Actuarial Analyst Insurance 87,940 GBP
Actuarial Assistant Insurance 64,300 GBP
Actuarial Specialist Insurance 60,400 GBP
Actuary Insurance 86,760 GBP
Adjustment Insurance Clerk Insurance 26,020 GBP
Assistant Broker Insurance 42,460 GBP
Assistant Claims Manager Insurance 69,240 GBP
Associate Insurance Representative Insurance 32,900 GBP
Broker Insurance 67,020 GBP
Claim Advocacy Professional Insurance 61,760 GBP
Claims Adjuster Insurance 25,680 GBP
Claims Analyst Insurance 33,440 GBP
Claims Examiner Insurance 34,080 GBP
Claims Manager Insurance 87,040 GBP
Claims Processor Insurance 24,820 GBP
Claims Representative Insurance 30,840 GBP
Claims Resolution Specialist Insurance 66,840 GBP
Claims Supervisor Insurance 63,320 GBP
Complaints Specialist Insurance 57,820 GBP
Compliance Examiner Insurance 60,480 GBP
Compliance Officer Insurance 48,760 GBP
Compliance Reviewer Insurance 58,240 GBP
Consultant Insurance 60,600 GBP
Eligibility Interviewer Insurance 66,440 GBP
Eligibility Specialist Insurance 63,040 GBP
Insurance Account Manager Insurance 78,960 GBP
Insurance Accounts Executive Insurance 74,540 GBP
Insurance Adjuster Insurance 58,520 GBP
Insurance Agent Insurance 39,640 GBP
Insurance Analyst Insurance 61,760 GBP
Insurance Appraiser Insurance 67,360 GBP
Insurance Claims Clerk Insurance 21,300 GBP
Insurance Examiner Insurance 56,460 GBP
Insurance Investigator Insurance 60,480 GBP
Insurance Manager Insurance 111,240 GBP
Insurance Operations Manager Insurance 104,920 GBP
Insurance Policy Processing Clerk Insurance 23,500 GBP
Insurance Pricing Assistant Insurance 53,860 GBP
Insurance Program Manager Insurance 83,300 GBP
Insurance Project Manager Insurance 78,940 GBP
Insurance Quality Assurance Agent Insurance 52,300 GBP
Insurance Sales Agent Insurance 37,380 GBP
Insurance Sales Director Insurance 111,900 GBP
Insurance Sales Manager Insurance 80,640 GBP
Insurance Sales Representative Insurance 34,240 GBP
Insurance Team Leader Insurance 66,820 GBP
Insurance Underwriter Insurance 48,820 GBP
Loss Control Specialist Insurance 62,860 GBP
Loss Prevention Investigator Insurance 69,180 GBP
Loss Prevention Manager Insurance 88,300 GBP
Loss Prevention Specialist Insurance 66,480 GBP
Marine Underwriter Insurance 45,580 GBP
Medical Auditor Insurance 62,860 GBP
Monitoring and Performance Officer Insurance 41,820 GBP
Payment Services Specialist Insurance 67,360 GBP
Policy Change Director Insurance 102,460 GBP
Policy Change Supervisor Insurance 69,400 GBP
Policy Change Technician Insurance 33,440 GBP
Risk Analyst Insurance 75,500 GBP
Risk Management Director Insurance 118,060 GBP
Risk Management Supervisor Insurance 76,280 GBP
Risk Manager Insurance 117,520 GBP
Risk Modeling Manager Insurance 116,380 GBP
Title Insurance Typist Insurance 53,380 GBP
Training Manager Insurance 70,880 GBP

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 Auditing Insurance Manager Salary in Jersey for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-auditing-insurance-manager-salary-in-jersey/.

  • "Average Auditing Insurance Manager Salary in Jersey for 2024". World Salaries, https://worldsalaries.com/average-auditing-insurance-manager-salary-in-jersey/. Accessed 28 March, 2024

  • Average Auditing Insurance Manager Salary in Jersey for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-auditing-insurance-manager-salary-in-jersey/.