Average Insurance Account Manager Salary in Djibouti for 2024

In this article, we will look at the average Insurance Account Manager salary for 2024 in Djibouti 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 Djiboutian franc. To keep things simple, we are using the DJF currency code instead of the currency symbol Fr.

How Much Does an Insurance Account Manager Make in Djibouti?

An Insurance Account Manager working in Djibouti will typically earn around 4,129,300 DJF per year, and this can range from the lowest average salary of about 1,896,700 DJF to the highest average salary of 6,564,600 DJF.

Average Annual Salary
4,129,300 DJF
Average Monthly Salary
344,108 DJF

Lowest Annual Salary
1,896,700 DJF
Lowest Monthly Salary
158,058 DJF

Highest Annual Salary
6,564,600 DJF
Highest Monthly Salary
547,050 DJF

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

Insurance Account 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 Insurance Account Manager Salaries in Djibouti

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

Salary ranges

We already know that an Insurance Account Manager can earn between 1,896,700 DJF and 6,564,600 DJF on average in Djibouti. 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 Insurance Account Manager in Djibouti is 4,465,800 DJF. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 4,465,800 DJF, and 50% of the population earn more than 4,465,800 DJF.

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 Insurance Account Manager salary in Djibouti, 25% of the population are earning less than 2,854,700 DJF while 75% of the population earn more than 2,854,700 DJF.

75% of the population earn less than 5,952,700 DJF, and 25% of the population earn more than 5,952,700 DJF.

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.

Insurance Account Manager Salary by Experience Level in Djibouti

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 insurance account 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 Insurance Account Manager in Djibouti that has less than two years of experience can expect to earn somewhere in the region of 2,161,200 DJF.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Account Manager salary would increase to 2,878,300 DJF.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Account Manager, the average salary would be 4,260,400 DJF.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 5,183,700 DJF.
  • 15 - 20 Years Experience. An Insurance Account Manager with 15 to 20 years of experience can earn an average of 5,651,400 DJF.
  • 20+ Years Experience. For an Insurance Account Manager with more than 20 years, the expected average salary increases to 6,118,800 DJF.

Average Salary by Experience Chart

0-2 Years
2,161,200 DJF
2-5 Years +34%
2,878,300 DJF
5-10 Years +48%
4,260,400 DJF
10-15 Years +22%
5,183,700 DJF
15-20 Years +9%
5,651,400 DJF
20+ Years +8%
6,118,800 DJF

Insurance Account Manager Salary by Education Level in Djibouti

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 Insurance Account Manager in Djibouti 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 Insurance Account Manager in Djibouti with a bachelor's degree education can earn an average salary of 2,508,300 DJF.

  • Master's Degree. An Insurance Account Manager in Djibouti with a master's degree education can earn an average salary of 4,834,900 DJF.

Average Salary by Education Chart

Bachelor's Degree
2,508,300 DJF
Master's Degree +93%
4,834,900 DJF

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 Djibouti is around 1,380,000 to 4,130,000 DJF 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.

Insurance Account 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 Djibouti, a male insurance account manager will earn an average of 4,537,100 DJF, while a female insurance account manager will earn around 3,718,600 DJF.

This means that a male insurance account manager earns approximately 22% more than a female insurance account manager for performing the same job.

Average Salary by Gender Chart in Djibouti

Male
4,537,100 DJF
Female -22%
3,718,600 DJF

Insurance Account Manager Average Pay Raise in Djibouti

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 Insurance Account Manager in Djibouti is around 7% every 30 months.

The national average pay raise across all professions and industries in Djibouti 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 an Insurance Account Manager in Djibouti can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Djibouti for 2024

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

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%

Insurance Account Manager Bonus and Incentive Rates in Djibouti

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 Insurance Account Manager is a moderate bonus based job, with 67% of employees reporting at least one bonus in the last 12 months.

33% 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
67%
No Bonus
33%

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

Public Sector
3,406,900 DJF
Private Sector -8%
3,168,300 DJF

Salaries for Jobs Similar to an Insurance Account Manager

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

Job Title Category Salary
Actuarial Analyst Insurance 4,594,300 DJF
Actuarial Assistant Insurance 3,108,200 DJF
Actuarial Specialist Insurance 3,023,200 DJF
Actuary Insurance 4,369,800 DJF
Adjustment Insurance Clerk Insurance 1,198,300 DJF
Assistant Broker Insurance 1,980,600 DJF
Assistant Claims Manager Insurance 3,514,400 DJF
Associate Insurance Representative Insurance 1,678,300 DJF
Auditing Insurance Manager Insurance 5,111,100 DJF
Broker Insurance 3,421,600 DJF
Claim Advocacy Professional Insurance 3,349,100 DJF
Claims Adjuster Insurance 1,224,800 DJF
Claims Analyst Insurance 1,645,600 DJF
Claims Examiner Insurance 1,751,700 DJF
Claims Manager Insurance 4,558,700 DJF
Claims Processor Insurance 1,273,300 DJF
Claims Representative Insurance 1,500,800 DJF
Claims Resolution Specialist Insurance 3,455,900 DJF
Claims Supervisor Insurance 3,263,500 DJF
Complaints Specialist Insurance 2,893,600 DJF
Compliance Examiner Insurance 3,217,900 DJF
Compliance Officer Insurance 2,688,800 DJF
Compliance Reviewer Insurance 3,047,800 DJF
Consultant Insurance 3,385,800 DJF
Eligibility Interviewer Insurance 3,406,900 DJF
Eligibility Specialist Insurance 3,168,300 DJF
Insurance Accounts Executive Insurance 3,385,800 DJF
Insurance Adjuster Insurance 2,928,100 DJF
Insurance Agent Insurance 2,038,500 DJF
Insurance Analyst Insurance 3,277,900 DJF
Insurance Appraiser Insurance 3,421,600 DJF
Insurance Claims Clerk Insurance 1,224,800 DJF
Insurance Examiner Insurance 2,878,300 DJF
Insurance Investigator Insurance 3,144,700 DJF
Insurance Manager Insurance 5,555,200 DJF
Insurance Operations Manager Insurance 5,794,900 DJF
Insurance Policy Processing Clerk Insurance 1,191,100 DJF
Insurance Pricing Assistant Insurance 2,471,700 DJF
Insurance Program Manager Insurance 4,450,400 DJF
Insurance Project Manager Insurance 4,320,200 DJF
Insurance Quality Assurance Agent Insurance 2,782,600 DJF
Insurance Sales Agent Insurance 2,015,600 DJF
Insurance Sales Director Insurance 5,399,900 DJF
Insurance Sales Manager Insurance 4,309,300 DJF
Insurance Sales Representative Insurance 1,693,600 DJF
Insurance Team Leader Insurance 3,421,600 DJF
Insurance Underwriter Insurance 2,485,800 DJF
Loss Control Specialist Insurance 3,263,500 DJF
Loss Prevention Investigator Insurance 3,385,800 DJF
Loss Prevention Manager Insurance 4,537,100 DJF
Loss Prevention Specialist Insurance 3,529,600 DJF
Marine Underwriter Insurance 2,447,200 DJF
Medical Auditor Insurance 3,277,900 DJF
Monitoring and Performance Officer Insurance 2,374,400 DJF
Payment Services Specialist Insurance 3,263,500 DJF
Policy Change Director Insurance 5,017,100 DJF
Policy Change Supervisor Insurance 3,672,500 DJF
Policy Change Technician Insurance 1,583,700 DJF
Risk Analyst Insurance 3,706,100 DJF
Risk Management Director Insurance 6,179,700 DJF
Risk Management Supervisor Insurance 4,235,500 DJF
Risk Manager Insurance 6,048,900 DJF
Risk Modeling Manager Insurance 5,794,900 DJF
Title Insurance Typist Insurance 2,782,600 DJF
Training Manager Insurance 3,455,900 DJF

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