Average Insurance Examiner Salary in Seychelles for 2024

In this article, we will look at the average Insurance Examiner salary for 2024 in Seychelles 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 Seychellois rupee. To keep things simple, we are using the SCR currency code instead of the currency symbol โ‚จ.

How Much Does an Insurance Examiner Make in Seychelles?

An Insurance Examiner working in Seychelles will typically earn around 215,100 SCR per year, and this can range from the lowest average salary of about 115,520 SCR to the highest average salary of 327,300 SCR.

Average Annual Salary
215,100 SCR
Average Monthly Salary
17,925 SCR

Lowest Annual Salary
115,520 SCR
Lowest Monthly Salary
9,626 SCR

Highest Annual Salary
327,300 SCR
Highest Monthly Salary
27,275 SCR

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

Insurance Examiner 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 Examiner Salaries in Seychelles

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

Salary ranges

We already know that an Insurance Examiner can earn between 115,520 SCR and 327,300 SCR on average in Seychelles. 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 Examiner in Seychelles is 204,700 SCR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 204,700 SCR, and 50% of the population earn more than 204,700 SCR.

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 Examiner salary in Seychelles, 25% of the population are earning less than 143,200 SCR while 75% of the population earn more than 143,200 SCR.

75% of the population earn less than 251,500 SCR, and 25% of the population earn more than 251,500 SCR.

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 Examiner Salary by Experience Level in Seychelles

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 examiner 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 Examiner in Seychelles that has less than two years of experience can expect to earn somewhere in the region of 130,400 SCR.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Examiner salary would increase to 161,300 SCR.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Examiner, the average salary would be 228,000 SCR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 267,100 SCR.
  • 15 - 20 Years Experience. An Insurance Examiner with 15 to 20 years of experience can earn an average of 294,300 SCR.
  • 20+ Years Experience. For an Insurance Examiner with more than 20 years, the expected average salary increases to 311,700 SCR.

Average Salary by Experience Chart

0-2 Years
130,400 SCR
2-5 Years +23%
161,300 SCR
5-10 Years +42%
228,000 SCR
10-15 Years +17%
267,100 SCR
15-20 Years +10%
294,300 SCR
20+ Years +6%
311,700 SCR

Insurance Examiner Salary by Education Level in Seychelles

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 Examiner in Seychelles 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 Examiner in Seychelles with a certificate or diploma education can earn an average salary of 174,000 SCR.

  • Bachelor's Degree. An Insurance Examiner in Seychelles with a bachelor's degree education can earn an average salary of 254,800 SCR.

Average Salary by Education Chart

Certificate or Diploma
174,000 SCR
Bachelor's Degree +47%
254,800 SCR

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 Seychelles is around 98,200 to 295,000 SCR 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 Examiner 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 Seychelles, a male insurance examiner will earn an average of 228,500 SCR, while a female insurance examiner will earn around 197,600 SCR.

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

Average Salary by Gender Chart in Seychelles

Male
228,500 SCR
Female -16%
197,600 SCR

Insurance Examiner Average Pay Raise in Seychelles

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 Examiner in Seychelles is around 8% every 28 months.

The national average pay raise across all professions and industries in Seychelles 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 ÷ 28 ) × 12  = 3%

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

Annual Pay Raise by Industry in Seychelles for 2024

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

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 Examiner Bonus and Incentive Rates in Seychelles

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 Examiner is a low bonus based job, with 9% of employees reporting at least one bonus in the last 12 months.

91% 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 1% to 3%.

Received Bonus
9%
No Bonus
91%

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

Public Sector
240,500 SCR
Private Sector -5%
228,500 SCR

Salaries for Jobs Similar to an Insurance Examiner

In the table below, we have salary information for jobs that are similar to an Insurance Examiner in Seychelles.

Job Title Category Salary
Actuarial Analyst Insurance 299,500 SCR
Actuarial Assistant Insurance 207,700 SCR
Actuarial Specialist Insurance 209,700 SCR
Actuary Insurance 309,800 SCR
Adjustment Insurance Clerk Insurance 83,760 SCR
Assistant Broker Insurance 138,800 SCR
Assistant Claims Manager Insurance 232,400 SCR
Associate Insurance Representative Insurance 119,900 SCR
Auditing Insurance Manager Insurance 330,900 SCR
Broker Insurance 225,700 SCR
Claim Advocacy Professional Insurance 227,600 SCR
Claims Adjuster Insurance 80,500 SCR
Claims Analyst Insurance 115,260 SCR
Claims Examiner Insurance 112,440 SCR
Claims Manager Insurance 307,400 SCR
Claims Processor Insurance 78,260 SCR
Claims Representative Insurance 104,500 SCR
Claims Resolution Specialist Insurance 243,000 SCR
Claims Supervisor Insurance 233,900 SCR
Complaints Specialist Insurance 208,600 SCR
Compliance Examiner Insurance 209,700 SCR
Compliance Officer Insurance 176,800 SCR
Compliance Reviewer Insurance 207,800 SCR
Consultant Insurance 218,900 SCR
Eligibility Interviewer Insurance 232,400 SCR
Eligibility Specialist Insurance 237,400 SCR
Insurance Account Manager Insurance 283,700 SCR
Insurance Accounts Executive Insurance 238,900 SCR
Insurance Adjuster Insurance 204,000 SCR
Insurance Agent Insurance 137,400 SCR
Insurance Analyst Insurance 228,000 SCR
Insurance Appraiser Insurance 216,800 SCR
Insurance Claims Clerk Insurance 79,000 SCR
Insurance Investigator Insurance 218,900 SCR
Insurance Manager Insurance 384,200 SCR
Insurance Operations Manager Insurance 382,600 SCR
Insurance Policy Processing Clerk Insurance 86,740 SCR
Insurance Pricing Assistant Insurance 180,500 SCR
Insurance Program Manager Insurance 294,700 SCR
Insurance Project Manager Insurance 283,400 SCR
Insurance Quality Assurance Agent Insurance 187,300 SCR
Insurance Sales Agent Insurance 139,100 SCR
Insurance Sales Director Insurance 362,200 SCR
Insurance Sales Manager Insurance 288,100 SCR
Insurance Sales Representative Insurance 119,700 SCR
Insurance Team Leader Insurance 243,000 SCR
Insurance Underwriter Insurance 169,000 SCR
Loss Control Specialist Insurance 209,700 SCR
Loss Prevention Investigator Insurance 225,700 SCR
Loss Prevention Manager Insurance 314,500 SCR
Loss Prevention Specialist Insurance 253,400 SCR
Marine Underwriter Insurance 176,800 SCR
Medical Auditor Insurance 225,300 SCR
Monitoring and Performance Officer Insurance 159,400 SCR
Payment Services Specialist Insurance 216,800 SCR
Policy Change Director Insurance 365,400 SCR
Policy Change Supervisor Insurance 251,500 SCR
Policy Change Technician Insurance 111,920 SCR
Risk Analyst Insurance 252,300 SCR
Risk Management Director Insurance 437,300 SCR
Risk Management Supervisor Insurance 281,500 SCR
Risk Manager Insurance 415,900 SCR
Risk Modeling Manager Insurance 414,000 SCR
Title Insurance Typist Insurance 192,000 SCR
Training Manager Insurance 245,300 SCR

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