Average Insurance Accounts Executive Salary in Chad for 2024

In this article, we will look at the average Insurance Accounts Executive salary for 2024 in Chad 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 Central African CFA franc. To keep things simple, we are using the XAF currency code instead of the currency symbol Fr.

How Much Does an Insurance Accounts Executive Make in Chad?

An Insurance Accounts Executive working in Chad will typically earn around 6,073,300 XAF per year, and this can range from the lowest average salary of about 2,794,600 XAF to the highest average salary of 9,649,800 XAF.

Average Annual Salary
6,073,300 XAF
Average Monthly Salary
506,108 XAF

Lowest Annual Salary
2,794,600 XAF
Lowest Monthly Salary
232,883 XAF

Highest Annual Salary
9,649,800 XAF
Highest Monthly Salary
804,150 XAF

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

Insurance Accounts Executive 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 Accounts Executive Salaries in Chad

So we've looked at the average salaries an Insurance Accounts Executive will earn in Chad. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Insurance Accounts Executive can earn between 2,794,600 XAF and 9,649,800 XAF on average in Chad. 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 Accounts Executive in Chad is 6,552,400 XAF. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 6,552,400 XAF, and 50% of the population earn more than 6,552,400 XAF.

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 Accounts Executive salary in Chad, 25% of the population are earning less than 4,201,000 XAF while 75% of the population earn more than 4,201,000 XAF.

75% of the population earn less than 8,746,500 XAF, and 25% of the population earn more than 8,746,500 XAF.

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 Accounts Executive Salary by Experience Level in Chad

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 accounts executive 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 Accounts Executive in Chad that has less than two years of experience can expect to earn somewhere in the region of 3,168,300 XAF.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Accounts Executive salary would increase to 4,224,200 XAF.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Accounts Executive, the average salary would be 6,251,400 XAF.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 7,618,900 XAF.
  • 15 - 20 Years Experience. An Insurance Accounts Executive with 15 to 20 years of experience can earn an average of 8,305,400 XAF.
  • 20+ Years Experience. For an Insurance Accounts Executive with more than 20 years, the expected average salary increases to 8,988,700 XAF.

Average Salary by Experience Chart

0-2 Years
3,168,300 XAF
2-5 Years +34%
4,224,200 XAF
5-10 Years +48%
6,251,400 XAF
10-15 Years +22%
7,618,900 XAF
15-20 Years +9%
8,305,400 XAF
20+ Years +8%
8,988,700 XAF

Insurance Accounts Executive Salary by Education Level in Chad

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 Accounts Executive in Chad 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 Accounts Executive in Chad with a bachelor's degree education can earn an average salary of 3,685,200 XAF.

  • Master's Degree. An Insurance Accounts Executive in Chad with a master's degree education can earn an average salary of 7,105,200 XAF.

Average Salary by Education Chart

Bachelor's Degree
3,685,200 XAF
Master's Degree +93%
7,105,200 XAF

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 Chad is around 2,440,000 to 7,310,000 XAF 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 Accounts Executive 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 Chad, a male insurance accounts executive will earn an average of 6,696,900 XAF, while a female insurance accounts executive will earn around 5,434,400 XAF.

This means that a male insurance accounts executive earns approximately 23% more than a female insurance accounts executive for performing the same job.

Average Salary by Gender Chart in Chad

Male
6,696,900 XAF
Female -23%
5,434,400 XAF

Insurance Accounts Executive Average Pay Raise in Chad

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 Accounts Executive in Chad is around 8% every 29 months.

The national average pay raise across all professions and industries in Chad 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 = ( 8 ÷ 29 ) × 12  = 3%

What this means is that an Insurance Accounts Executive in Chad can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Chad for 2024

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

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 Accounts Executive Bonus and Incentive Rates in Chad

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 Accounts Executive is a low bonus based job, with 41% of employees reporting at least one bonus in the last 12 months.

59% 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 2% to 7%.

Received Bonus
41%
No Bonus
59%

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 Chad earn approximately 14% more than private sector employees in the same role.

Public Sector
6,142,600 XAF
Private Sector -14%
5,376,200 XAF

Salaries for Jobs Similar to an Insurance Accounts Executive

In the table below, we have salary information for jobs that are similar to an Insurance Accounts Executive in Chad.

Job Title Category Salary
Actuarial Analyst Insurance 7,993,600 XAF
Actuarial Assistant Insurance 5,305,100 XAF
Actuarial Specialist Insurance 5,605,200 XAF
Actuary Insurance 7,572,700 XAF
Adjustment Insurance Clerk Insurance 2,124,400 XAF
Assistant Broker Insurance 3,875,100 XAF
Assistant Claims Manager Insurance 6,505,500 XAF
Associate Insurance Representative Insurance 3,118,900 XAF
Auditing Insurance Manager Insurance 8,879,100 XAF
Broker Insurance 5,747,700 XAF
Claim Advocacy Professional Insurance 5,761,400 XAF
Claims Adjuster Insurance 2,086,500 XAF
Claims Analyst Insurance 3,061,300 XAF
Claims Examiner Insurance 3,192,300 XAF
Claims Manager Insurance 8,159,800 XAF
Claims Processor Insurance 2,242,500 XAF
Claims Representative Insurance 2,605,500 XAF
Claims Resolution Specialist Insurance 6,442,400 XAF
Claims Supervisor Insurance 5,639,700 XAF
Complaints Specialist Insurance 5,651,400 XAF
Compliance Examiner Insurance 5,461,900 XAF
Compliance Officer Insurance 4,726,900 XAF
Compliance Reviewer Insurance 5,628,400 XAF
Consultant Insurance 5,747,700 XAF
Eligibility Interviewer Insurance 6,529,400 XAF
Eligibility Specialist Insurance 5,952,700 XAF
Insurance Account Manager Insurance 7,067,300 XAF
Insurance Adjuster Insurance 5,305,100 XAF
Insurance Agent Insurance 3,373,200 XAF
Insurance Analyst Insurance 6,048,900 XAF
Insurance Appraiser Insurance 5,963,300 XAF
Insurance Claims Clerk Insurance 2,086,500 XAF
Insurance Examiner Insurance 5,363,700 XAF
Insurance Investigator Insurance 5,747,700 XAF
Insurance Manager Insurance 9,995,000 XAF
Insurance Operations Manager Insurance 10,510,100 XAF
Insurance Policy Processing Clerk Insurance 2,136,200 XAF
Insurance Pricing Assistant Insurance 4,726,900 XAF
Insurance Program Manager Insurance 7,381,700 XAF
Insurance Project Manager Insurance 7,331,800 XAF
Insurance Quality Assurance Agent Insurance 4,981,700 XAF
Insurance Sales Agent Insurance 3,577,600 XAF
Insurance Sales Director Insurance 9,205,400 XAF
Insurance Sales Manager Insurance 7,428,600 XAF
Insurance Sales Representative Insurance 2,953,200 XAF
Insurance Team Leader Insurance 6,493,000 XAF
Insurance Underwriter Insurance 4,260,400 XAF
Loss Control Specialist Insurance 5,507,100 XAF
Loss Prevention Investigator Insurance 6,193,900 XAF
Loss Prevention Manager Insurance 8,159,800 XAF
Loss Prevention Specialist Insurance 6,241,000 XAF
Marine Underwriter Insurance 4,224,200 XAF
Medical Auditor Insurance 5,902,400 XAF
Monitoring and Performance Officer Insurance 4,162,800 XAF
Payment Services Specialist Insurance 5,963,300 XAF
Policy Change Director Insurance 9,121,500 XAF
Policy Change Supervisor Insurance 6,564,600 XAF
Policy Change Technician Insurance 2,773,700 XAF
Risk Analyst Insurance 6,300,400 XAF
Risk Management Director Insurance 11,399,200 XAF
Risk Management Supervisor Insurance 7,680,400 XAF
Risk Manager Insurance 10,788,900 XAF
Risk Modeling Manager Insurance 11,245,700 XAF
Title Insurance Typist Insurance 4,966,200 XAF
Training Manager Insurance 6,768,400 XAF

Salary Comparison by City

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

City Average Salary
NDjamena 7,199,500 XAF

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