Average Insurance Accounts Executive Salary in Saint Kitts and Nevis for 2024

In this article, we will look at the average Insurance Accounts Executive salary for 2024 in Saint Kitts and Nevis 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 Eastern Caribbean dollar. To keep things simple, we are using the XCD currency code instead of the currency symbol $.

How Much Does an Insurance Accounts Executive Make in Saint Kitts and Nevis?

An Insurance Accounts Executive working in Saint Kitts and Nevis will typically earn around 45,600 XCD per year, and this can range from the lowest average salary of about 21,100 XCD to the highest average salary of 69,260 XCD.

Average Annual Salary
45,600 XCD
Average Monthly Salary
3,800 XCD

Lowest Annual Salary
21,100 XCD
Lowest Monthly Salary
1,758 XCD

Highest Annual Salary
69,260 XCD
Highest Monthly Salary
5,771 XCD

These are average salaries for an Insurance Accounts Executive in Saint Kitts and Nevis 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 Saint Kitts and Nevis

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

Salary ranges

We already know that an Insurance Accounts Executive can earn between 21,100 XCD and 69,260 XCD on average in Saint Kitts and Nevis. 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 Saint Kitts and Nevis is 47,580 XCD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 47,580 XCD, and 50% of the population earn more than 47,580 XCD.

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 Saint Kitts and Nevis, 25% of the population are earning less than 30,220 XCD while 75% of the population earn more than 30,220 XCD.

75% of the population earn less than 64,560 XCD, and 25% of the population earn more than 64,560 XCD.

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 Saint Kitts and Nevis

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 Saint Kitts and Nevis that has less than two years of experience can expect to earn somewhere in the region of 22,660 XCD.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Accounts Executive salary would increase to 29,160 XCD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Accounts Executive, the average salary would be 45,620 XCD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 54,280 XCD.
  • 15 - 20 Years Experience. An Insurance Accounts Executive with 15 to 20 years of experience can earn an average of 60,020 XCD.
  • 20+ Years Experience. For an Insurance Accounts Executive with more than 20 years, the expected average salary increases to 67,560 XCD.

Average Salary by Experience Chart

0-2 Years
22,660 XCD
2-5 Years +34%
29,160 XCD
5-10 Years +48%
45,620 XCD
10-15 Years +22%
54,280 XCD
15-20 Years +9%
60,020 XCD
20+ Years +8%
67,560 XCD

Insurance Accounts Executive Salary by Education Level in Saint Kitts and Nevis

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 Saint Kitts and Nevis 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 Saint Kitts and Nevis with a bachelor's degree education can earn an average salary of 26,780 XCD.

  • Master's Degree. An Insurance Accounts Executive in Saint Kitts and Nevis with a master's degree education can earn an average salary of 50,560 XCD.

Average Salary by Education Chart

Bachelor's Degree
26,780 XCD
Master's Degree +93%
50,560 XCD

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 Saint Kitts and Nevis is around 16,900 to 50,700 XCD 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 Saint Kitts and Nevis, a male insurance accounts executive will earn an average of 48,740 XCD, while a female insurance accounts executive will earn around 42,040 XCD.

This means that a male insurance accounts executive earns approximately 16% more than a female insurance accounts executive for performing the same job.

Average Salary by Gender Chart in Saint Kitts and Nevis

Male
48,740 XCD
Female -16%
42,040 XCD

Insurance Accounts Executive Average Pay Raise in Saint Kitts and Nevis

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 Saint Kitts and Nevis is around 7% every 30 months.

The national average pay raise across all professions and industries in Saint Kitts and Nevis 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 Accounts Executive in Saint Kitts and Nevis can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Saint Kitts and Nevis for 2024

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

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

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

Insurance Accounts Executive Bonus and Incentive Rates in Saint Kitts and Nevis

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 Saint Kitts and Nevis earn approximately 23% more than private sector employees in the same role.

Public Sector
45,200 XCD
Private Sector -23%
36,720 XCD

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 Saint Kitts and Nevis.

Job Title Category Salary
Actuarial Analyst Insurance 53,380 XCD
Actuarial Assistant Insurance 38,140 XCD
Actuarial Specialist Insurance 36,020 XCD
Actuary Insurance 51,900 XCD
Adjustment Insurance Clerk Insurance 13,100 XCD
Assistant Broker Insurance 27,380 XCD
Assistant Claims Manager Insurance 42,400 XCD
Associate Insurance Representative Insurance 21,540 XCD
Auditing Insurance Manager Insurance 58,280 XCD
Broker Insurance 40,140 XCD
Claim Advocacy Professional Insurance 38,700 XCD
Claims Adjuster Insurance 14,920 XCD
Claims Analyst Insurance 21,540 XCD
Claims Examiner Insurance 19,480 XCD
Claims Manager Insurance 59,480 XCD
Claims Processor Insurance 13,100 XCD
Claims Representative Insurance 17,860 XCD
Claims Resolution Specialist Insurance 41,560 XCD
Claims Supervisor Insurance 40,560 XCD
Complaints Specialist Insurance 36,700 XCD
Compliance Examiner Insurance 36,020 XCD
Compliance Officer Insurance 31,040 XCD
Compliance Reviewer Insurance 35,340 XCD
Consultant Insurance 40,140 XCD
Eligibility Interviewer Insurance 43,360 XCD
Eligibility Specialist Insurance 40,240 XCD
Insurance Account Manager Insurance 48,740 XCD
Insurance Adjuster Insurance 35,520 XCD
Insurance Agent Insurance 20,760 XCD
Insurance Analyst Insurance 39,160 XCD
Insurance Appraiser Insurance 41,980 XCD
Insurance Claims Clerk Insurance 14,840 XCD
Insurance Examiner Insurance 37,200 XCD
Insurance Investigator Insurance 36,160 XCD
Insurance Manager Insurance 66,100 XCD
Insurance Operations Manager Insurance 63,040 XCD
Insurance Policy Processing Clerk Insurance 17,260 XCD
Insurance Pricing Assistant Insurance 32,620 XCD
Insurance Program Manager Insurance 48,300 XCD
Insurance Project Manager Insurance 49,300 XCD
Insurance Quality Assurance Agent Insurance 37,200 XCD
Insurance Sales Agent Insurance 25,220 XCD
Insurance Sales Director Insurance 63,480 XCD
Insurance Sales Manager Insurance 52,180 XCD
Insurance Sales Representative Insurance 19,060 XCD
Insurance Team Leader Insurance 42,320 XCD
Insurance Underwriter Insurance 27,480 XCD
Loss Control Specialist Insurance 37,740 XCD
Loss Prevention Investigator Insurance 38,700 XCD
Loss Prevention Manager Insurance 52,880 XCD
Loss Prevention Specialist Insurance 41,820 XCD
Marine Underwriter Insurance 29,320 XCD
Medical Auditor Insurance 40,560 XCD
Monitoring and Performance Officer Insurance 29,840 XCD
Payment Services Specialist Insurance 38,060 XCD
Policy Change Director Insurance 58,520 XCD
Policy Change Supervisor Insurance 45,560 XCD
Policy Change Technician Insurance 18,940 XCD
Risk Analyst Insurance 45,060 XCD
Risk Management Director Insurance 73,760 XCD
Risk Management Supervisor Insurance 48,140 XCD
Risk Manager Insurance 77,380 XCD
Risk Modeling Manager Insurance 73,980 XCD
Title Insurance Typist Insurance 36,940 XCD
Training Manager Insurance 46,280 XCD

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