Average Claims Supervisor Salary in Maldives for 2024

In this article, we will look at the average Claims Supervisor salary for 2024 in Maldives 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 Maldivian rufiyaa. To keep things simple, we are using the MVR currency code instead of the currency symbol .Þƒ.

How Much Does a Claims Supervisor Make in Maldives?

A Claims Supervisor working in Maldives will typically earn around 238,900 MVR per year, and this can range from the lowest average salary of about 119,900 MVR to the highest average salary of 367,900 MVR.

Average Annual Salary
238,900 MVR
Average Monthly Salary
19,908 MVR

Lowest Annual Salary
119,900 MVR
Lowest Monthly Salary
9,991 MVR

Highest Annual Salary
367,900 MVR
Highest Monthly Salary
30,658 MVR

These are average salaries for a Claims Supervisor in Maldives and include benefits such as housing and transport. It's also possible for a Claims Supervisor to earn more or less than the average salaries shown above.

Claims Supervisor 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 Claims Supervisor Salaries in Maldives

So we've looked at the average salaries a Claims Supervisor will earn in Maldives. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Claims Supervisor can earn between 119,900 MVR and 367,900 MVR on average in Maldives. 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 a Claims Supervisor in Maldives is 233,600 MVR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 233,600 MVR, and 50% of the population earn more than 233,600 MVR.

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 Claims Supervisor salary in Maldives, 25% of the population are earning less than 159,400 MVR while 75% of the population earn more than 159,400 MVR.

75% of the population earn less than 294,300 MVR, and 25% of the population earn more than 294,300 MVR.

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.

Claims Supervisor Salary by Experience Level in Maldives

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 claims supervisor 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. A Claims Supervisor in Maldives that has less than two years of experience can expect to earn somewhere in the region of 137,400 MVR.
  • 2 - 5 Years Experience. With two to five years of experience the average Claims Supervisor salary would increase to 175,900 MVR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Claims Supervisor, the average salary would be 251,500 MVR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 301,800 MVR.
  • 15 - 20 Years Experience. A Claims Supervisor with 15 to 20 years of experience can earn an average of 325,600 MVR.
  • 20+ Years Experience. For a Claims Supervisor with more than 20 years, the expected average salary increases to 351,900 MVR.

Average Salary by Experience Chart

0-2 Years
137,400 MVR
2-5 Years +31%
175,900 MVR
5-10 Years +40%
251,500 MVR
10-15 Years +20%
301,800 MVR
15-20 Years +9%
325,600 MVR
20+ Years +8%
351,900 MVR

Claims Supervisor Salary by Education Level in Maldives

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 a Claims Supervisor in Maldives 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. A Claims Supervisor in Maldives with a certificate or diploma education can earn an average salary of 157,600 MVR.

  • Bachelor's Degree. A Claims Supervisor in Maldives with a bachelor's degree education can earn an average salary of 233,600 MVR.

  • Master's Degree. A Claims Supervisor in Maldives with a master's degree education can earn an average salary of 345,700 MVR.

Average Salary by Education Chart

Certificate or Diploma
157,600 MVR
Bachelor's Degree +50%
233,600 MVR
Master's Degree +48%
345,700 MVR

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 Maldives is around 95,600 to 287,000 MVR 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.

Claims Supervisor 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 Maldives, a male claims supervisor will earn an average of 254,800 MVR, while a female claims supervisor will earn around 222,300 MVR.

This means that a male claims supervisor earns approximately 15% more than a female claims supervisor for performing the same job.

Average Salary by Gender Chart in Maldives

Male
254,800 MVR
Female -15%
222,300 MVR

Claims Supervisor Average Pay Raise in Maldives

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 a Claims Supervisor in Maldives is around 7% every 30 months.

The national average pay raise across all professions and industries in Maldives is around 4% every 29 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 ÷ 30 ) × 12  = 3%

What this means is that a Claims Supervisor in Maldives can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Maldives for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Claims Supervisor Bonus and Incentive Rates in Maldives

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.

A Claims Supervisor is a low bonus based job, with 36% of employees reporting at least one bonus in the last 12 months.

64% 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
36%
No Bonus
64%

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

Public Sector
237,400 MVR
Private Sector -8%
218,900 MVR

Salaries for Jobs Similar to a Claims Supervisor

In the table below, we have salary information for jobs that are similar to a Claims Supervisor in Maldives.

Job Title Category Salary
Actuarial Analyst Insurance 325,900 MVR
Actuarial Assistant Insurance 214,000 MVR
Actuarial Specialist Insurance 225,700 MVR
Actuary Insurance 297,000 MVR
Adjustment Insurance Clerk Insurance 86,640 MVR
Assistant Broker Insurance 148,300 MVR
Assistant Claims Manager Insurance 263,900 MVR
Associate Insurance Representative Insurance 116,780 MVR
Auditing Insurance Manager Insurance 361,500 MVR
Broker Insurance 225,300 MVR
Claim Advocacy Professional Insurance 227,600 MVR
Claims Adjuster Insurance 83,100 MVR
Claims Analyst Insurance 123,400 MVR
Claims Examiner Insurance 127,700 MVR
Claims Manager Insurance 317,700 MVR
Claims Processor Insurance 86,740 MVR
Claims Representative Insurance 102,380 MVR
Claims Resolution Specialist Insurance 252,300 MVR
Complaints Specialist Insurance 207,700 MVR
Compliance Examiner Insurance 216,800 MVR
Compliance Officer Insurance 180,500 MVR
Compliance Reviewer Insurance 222,300 MVR
Consultant Insurance 228,000 MVR
Eligibility Interviewer Insurance 246,200 MVR
Eligibility Specialist Insurance 225,300 MVR
Insurance Account Manager Insurance 301,800 MVR
Insurance Accounts Executive Insurance 257,700 MVR
Insurance Adjuster Insurance 227,600 MVR
Insurance Agent Insurance 138,800 MVR
Insurance Analyst Insurance 228,500 MVR
Insurance Appraiser Insurance 227,600 MVR
Insurance Claims Clerk Insurance 85,700 MVR
Insurance Examiner Insurance 218,900 MVR
Insurance Investigator Insurance 210,500 MVR
Insurance Manager Insurance 396,300 MVR
Insurance Operations Manager Insurance 403,100 MVR
Insurance Policy Processing Clerk Insurance 87,000 MVR
Insurance Pricing Assistant Insurance 187,300 MVR
Insurance Program Manager Insurance 315,900 MVR
Insurance Project Manager Insurance 292,000 MVR
Insurance Quality Assurance Agent Insurance 194,600 MVR
Insurance Sales Agent Insurance 143,200 MVR
Insurance Sales Director Insurance 371,100 MVR
Insurance Sales Manager Insurance 301,700 MVR
Insurance Sales Representative Insurance 116,180 MVR
Insurance Team Leader Insurance 252,300 MVR
Insurance Underwriter Insurance 169,000 MVR
Loss Control Specialist Insurance 221,500 MVR
Loss Prevention Investigator Insurance 247,800 MVR
Loss Prevention Manager Insurance 325,800 MVR
Loss Prevention Specialist Insurance 245,300 MVR
Marine Underwriter Insurance 180,300 MVR
Medical Auditor Insurance 233,600 MVR
Monitoring and Performance Officer Insurance 169,000 MVR
Payment Services Specialist Insurance 238,900 MVR
Policy Change Director Insurance 372,600 MVR
Policy Change Supervisor Insurance 239,000 MVR
Policy Change Technician Insurance 111,920 MVR
Risk Analyst Insurance 273,300 MVR
Risk Management Director Insurance 440,200 MVR
Risk Management Supervisor Insurance 294,300 MVR
Risk Manager Insurance 450,300 MVR
Risk Modeling Manager Insurance 420,100 MVR
Title Insurance Typist Insurance 207,700 MVR
Training Manager Insurance 258,400 MVR

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