Average Insurance Agent Salary in New Caledonia for 2024

In this article, we will look at the average Insurance Agent salary for 2024 in New Caledonia 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 CFP franc. To keep things simple, we are using the XPF currency code instead of the currency symbol โ‚ฃ.

How Much Does an Insurance Agent Make in New Caledonia?

An Insurance Agent working in New Caledonia will typically earn around 637,500 XPF per year, and this can range from the lowest average salary of about 297,000 XPF to the highest average salary of 1,004,500 XPF.

Average Annual Salary
637,500 XPF
Average Monthly Salary
53,125 XPF

Lowest Annual Salary
297,000 XPF
Lowest Monthly Salary
24,750 XPF

Highest Annual Salary
1,004,500 XPF
Highest Monthly Salary
83,708 XPF

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

Insurance Agent 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 Agent Salaries in New Caledonia

So we've looked at the average salaries an Insurance Agent will earn in New Caledonia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Insurance Agent can earn between 297,000 XPF and 1,004,500 XPF on average in New Caledonia. 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 Agent in New Caledonia is 675,100 XPF. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 675,100 XPF, and 50% of the population earn more than 675,100 XPF.

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 Agent salary in New Caledonia, 25% of the population are earning less than 436,200 XPF while 75% of the population earn more than 436,200 XPF.

75% of the population earn less than 889,400 XPF, and 25% of the population earn more than 889,400 XPF.

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 Agent Salary by Experience Level in New Caledonia

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 agent 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 Agent in New Caledonia that has less than two years of experience can expect to earn somewhere in the region of 345,100 XPF.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Agent salary would increase to 475,700 XPF.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Agent, the average salary would be 677,100 XPF.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 824,800 XPF.
  • 15 - 20 Years Experience. An Insurance Agent with 15 to 20 years of experience can earn an average of 870,700 XPF.
  • 20+ Years Experience. For an Insurance Agent with more than 20 years, the expected average salary increases to 948,300 XPF.

Average Salary by Experience Chart

0-2 Years
345,100 XPF
2-5 Years +38%
475,700 XPF
5-10 Years +42%
677,100 XPF
10-15 Years +22%
824,800 XPF
15-20 Years +6%
870,700 XPF
20+ Years +9%
948,300 XPF

Insurance Agent Salary by Education Level in New Caledonia

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 Agent in New Caledonia 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. An Insurance Agent in New Caledonia with a certificate or diploma education can earn an average salary of 431,300 XPF.

  • Bachelor's Degree. An Insurance Agent in New Caledonia with a bachelor's degree education can earn an average salary of 828,400 XPF.

Average Salary by Education Chart

Certificate or Diploma
431,300 XPF
Bachelor's Degree +91%
828,400 XPF

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 New Caledonia is around 438,000 to 1,320,000 XPF 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 Agent 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 New Caledonia, a male insurance agent will earn an average of 683,400 XPF, while a female insurance agent will earn around 598,600 XPF.

This means that a male insurance agent earns approximately 14% more than a female insurance agent for performing the same job.

Average Salary by Gender Chart in New Caledonia

Male
683,400 XPF
Female -14%
598,600 XPF

Insurance Agent Average Pay Raise in New Caledonia

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 Agent in New Caledonia is around 7% every 28 months.

The national average pay raise across all professions and industries in New Caledonia 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 = ( 7 ÷ 28 ) × 12  = 3%

What this means is that an Insurance Agent in New Caledonia can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in New Caledonia for 2024

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

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

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Insurance Agent Bonus and Incentive Rates in New Caledonia

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 Agent is a low bonus based job, with 14% of employees reporting at least one bonus in the last 12 months.

86% 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 0% to 4%.

Received Bonus
14%
No Bonus
86%

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 New Caledonia earn approximately 11% more than private sector employees in the same role.

Public Sector
1,094,000 XPF
Private Sector -11%
987,200 XPF

Salaries for Jobs Similar to an Insurance Agent

In the table below, we have salary information for jobs that are similar to an Insurance Agent in New Caledonia.

Job Title Category Salary
Actuarial Analyst Insurance 1,464,200 XPF
Actuarial Assistant Insurance 986,700 XPF
Actuarial Specialist Insurance 953,200 XPF
Actuary Insurance 1,428,800 XPF
Adjustment Insurance Clerk Insurance 385,300 XPF
Assistant Broker Insurance 650,800 XPF
Assistant Claims Manager Insurance 1,144,400 XPF
Associate Insurance Representative Insurance 525,700 XPF
Auditing Insurance Manager Insurance 1,632,100 XPF
Broker Insurance 1,041,900 XPF
Claim Advocacy Professional Insurance 1,012,100 XPF
Claims Adjuster Insurance 389,200 XPF
Claims Analyst Insurance 518,900 XPF
Claims Examiner Insurance 548,500 XPF
Claims Manager Insurance 1,417,600 XPF
Claims Processor Insurance 394,300 XPF
Claims Representative Insurance 480,300 XPF
Claims Resolution Specialist Insurance 1,149,200 XPF
Claims Supervisor Insurance 1,007,400 XPF
Complaints Specialist Insurance 987,200 XPF
Compliance Examiner Insurance 993,600 XPF
Compliance Officer Insurance 805,900 XPF
Compliance Reviewer Insurance 938,100 XPF
Consultant Insurance 1,047,900 XPF
Eligibility Interviewer Insurance 1,122,500 XPF
Eligibility Specialist Insurance 1,074,200 XPF
Insurance Account Manager Insurance 1,296,900 XPF
Insurance Accounts Executive Insurance 1,129,700 XPF
Insurance Adjuster Insurance 990,700 XPF
Insurance Analyst Insurance 1,003,800 XPF
Insurance Appraiser Insurance 1,048,600 XPF
Insurance Claims Clerk Insurance 369,300 XPF
Insurance Examiner Insurance 965,800 XPF
Insurance Investigator Insurance 946,800 XPF
Insurance Manager Insurance 1,777,700 XPF
Insurance Operations Manager Insurance 1,716,600 XPF
Insurance Policy Processing Clerk Insurance 394,300 XPF
Insurance Pricing Assistant Insurance 818,100 XPF
Insurance Program Manager Insurance 1,333,900 XPF
Insurance Project Manager Insurance 1,333,900 XPF
Insurance Quality Assurance Agent Insurance 866,900 XPF
Insurance Sales Agent Insurance 602,700 XPF
Insurance Sales Director Insurance 1,716,600 XPF
Insurance Sales Manager Insurance 1,391,600 XPF
Insurance Sales Representative Insurance 556,000 XPF
Insurance Team Leader Insurance 1,105,600 XPF
Insurance Underwriter Insurance 751,100 XPF
Loss Control Specialist Insurance 1,057,100 XPF
Loss Prevention Investigator Insurance 1,088,100 XPF
Loss Prevention Manager Insurance 1,450,700 XPF
Loss Prevention Specialist Insurance 1,122,900 XPF
Marine Underwriter Insurance 754,900 XPF
Medical Auditor Insurance 1,048,600 XPF
Monitoring and Performance Officer Insurance 741,500 XPF
Payment Services Specialist Insurance 1,048,600 XPF
Policy Change Director Insurance 1,693,600 XPF
Policy Change Supervisor Insurance 1,113,700 XPF
Policy Change Technician Insurance 524,300 XPF
Risk Analyst Insurance 1,224,800 XPF
Risk Management Director Insurance 2,026,800 XPF
Risk Management Supervisor Insurance 1,249,900 XPF
Risk Manager Insurance 1,967,000 XPF
Risk Modeling Manager Insurance 1,870,400 XPF
Title Insurance Typist Insurance 903,500 XPF
Training Manager Insurance 1,134,500 XPF

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