Average Insurance Account Manager Salary in Italy for 2024

In this article, we will look at the average Insurance Account Manager salary for 2024 in Italy 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 โ‚ฌ.

How Much Does an Insurance Account Manager Make in Italy?

An Insurance Account Manager working in Italy will typically earn around 53,160 EUR per year, and this can range from the lowest average salary of about 23,360 EUR to the highest average salary of 87,000 EUR.

Average Annual Salary
53,160 EUR
Average Monthly Salary
4,430 EUR

Lowest Annual Salary
23,360 EUR
Lowest Monthly Salary
1,946 EUR

Highest Annual Salary
87,000 EUR
Highest Monthly Salary
7,250 EUR

These are average salaries for an Insurance Account Manager in Italy 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 Italy

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

Salary ranges

We already know that an Insurance Account Manager can earn between 23,360 EUR and 87,000 EUR on average in Italy. 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 Italy is 60,480 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 60,480 EUR, and 50% of the population earn more than 60,480 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 Insurance Account Manager salary in Italy, 25% of the population are earning less than 37,380 EUR while 75% of the population earn more than 37,380 EUR.

75% of the population earn less than 78,160 EUR, and 25% of the population earn more than 78,160 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.

Insurance Account Manager Salary by Experience Level in Italy

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 Italy that has less than two years of experience can expect to earn somewhere in the region of 28,720 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Account Manager salary would increase to 36,020 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Account Manager, the average salary would be 55,840 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 68,580 EUR.
  • 15 - 20 Years Experience. An Insurance Account Manager with 15 to 20 years of experience can earn an average of 73,800 EUR.
  • 20+ Years Experience. For an Insurance Account Manager with more than 20 years, the expected average salary increases to 80,020 EUR.

Average Salary by Experience Chart

0-2 Years
28,720 EUR
2-5 Years +34%
36,020 EUR
5-10 Years +48%
55,840 EUR
10-15 Years +22%
68,580 EUR
15-20 Years +9%
73,800 EUR
20+ Years +8%
80,020 EUR

Insurance Account Manager Salary by Education Level in Italy

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 Italy 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 Italy with a bachelor's degree education can earn an average salary of 32,900 EUR.

  • Master's Degree. An Insurance Account Manager in Italy with a master's degree education can earn an average salary of 64,300 EUR.

Average Salary by Education Chart

Bachelor's Degree
32,900 EUR
Master's Degree +93%
64,300 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 Italy is around 18,200 to 54,700 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.

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 Italy, a male insurance account manager will earn an average of 55,580 EUR, while a female insurance account manager will earn around 50,540 EUR.

This means that a male insurance account manager earns approximately 10% more than a female insurance account manager for performing the same job.

Average Salary by Gender Chart in Italy

Male
55,580 EUR
Female -10%
50,540 EUR

Insurance Account Manager Average Pay Raise in Italy

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 Italy is around 11% every 18 months.

The national average pay raise across all professions and industries in Italy is around 8% every 17 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 = ( 11 ÷ 18 ) × 12  = 7%

What this means is that an Insurance Account Manager in Italy can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Italy for 2024

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

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

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Insurance Account Manager Bonus and Incentive Rates in Italy

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 high bonus based job, with 86% of employees reporting at least one bonus in the last 12 months.

14% 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
86%
No Bonus
14%

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 Italy earn approximately 5% more than private sector employees in the same role.

Public Sector
46,280 EUR
Private Sector -5%
44,180 EUR

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 Italy.

Job Title Category Salary
Actuarial Analyst Insurance 60,480 EUR
Actuarial Assistant Insurance 42,320 EUR
Actuarial Specialist Insurance 42,040 EUR
Actuary Insurance 61,580 EUR
Adjustment Insurance Clerk Insurance 16,400 EUR
Assistant Broker Insurance 28,860 EUR
Assistant Claims Manager Insurance 50,980 EUR
Associate Insurance Representative Insurance 22,660 EUR
Auditing Insurance Manager Insurance 65,760 EUR
Broker Insurance 47,180 EUR
Claim Advocacy Professional Insurance 47,120 EUR
Claims Adjuster Insurance 17,620 EUR
Claims Analyst Insurance 24,840 EUR
Claims Examiner Insurance 22,660 EUR
Claims Manager Insurance 64,040 EUR
Claims Processor Insurance 15,380 EUR
Claims Representative Insurance 18,940 EUR
Claims Resolution Specialist Insurance 50,020 EUR
Claims Supervisor Insurance 42,960 EUR
Complaints Specialist Insurance 42,400 EUR
Compliance Examiner Insurance 44,300 EUR
Compliance Officer Insurance 39,160 EUR
Compliance Reviewer Insurance 42,040 EUR
Consultant Insurance 42,960 EUR
Eligibility Interviewer Insurance 50,020 EUR
Eligibility Specialist Insurance 43,800 EUR
Insurance Accounts Executive Insurance 50,020 EUR
Insurance Adjuster Insurance 44,180 EUR
Insurance Agent Insurance 25,440 EUR
Insurance Analyst Insurance 44,540 EUR
Insurance Appraiser Insurance 47,540 EUR
Insurance Claims Clerk Insurance 16,340 EUR
Insurance Examiner Insurance 42,040 EUR
Insurance Investigator Insurance 43,080 EUR
Insurance Manager Insurance 79,360 EUR
Insurance Operations Manager Insurance 80,060 EUR
Insurance Policy Processing Clerk Insurance 18,780 EUR
Insurance Pricing Assistant Insurance 36,020 EUR
Insurance Program Manager Insurance 60,160 EUR
Insurance Project Manager Insurance 55,820 EUR
Insurance Quality Assurance Agent Insurance 36,720 EUR
Insurance Sales Agent Insurance 29,540 EUR
Insurance Sales Director Insurance 70,600 EUR
Insurance Sales Manager Insurance 63,700 EUR
Insurance Sales Representative Insurance 23,080 EUR
Insurance Team Leader Insurance 51,080 EUR
Insurance Underwriter Insurance 33,520 EUR
Loss Control Specialist Insurance 47,180 EUR
Loss Prevention Investigator Insurance 50,020 EUR
Loss Prevention Manager Insurance 61,680 EUR
Loss Prevention Specialist Insurance 46,980 EUR
Marine Underwriter Insurance 35,500 EUR
Medical Auditor Insurance 46,160 EUR
Monitoring and Performance Officer Insurance 31,960 EUR
Payment Services Specialist Insurance 47,720 EUR
Policy Change Director Insurance 73,040 EUR
Policy Change Supervisor Insurance 50,080 EUR
Policy Change Technician Insurance 22,540 EUR
Risk Analyst Insurance 53,600 EUR
Risk Management Director Insurance 89,340 EUR
Risk Management Supervisor Insurance 57,440 EUR
Risk Manager Insurance 89,800 EUR
Risk Modeling Manager Insurance 89,280 EUR
Title Insurance Typist Insurance 41,660 EUR
Training Manager Insurance 51,340 EUR

Salary Comparison by City

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

City Average Salary
Bologna 52,880 EUR
Catania 54,460 EUR
Genova 55,020 EUR
Milano 57,440 EUR
Napoli 59,000 EUR
Palermo 55,580 EUR
Parma 53,380 EUR
Rome 61,400 EUR
Torino 56,640 EUR
Trieste 52,820 EUR

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