Average Insurance Investigator Salary in Armenia for 2024

In this article, we will look at the average Insurance Investigator salary for 2024 in Armenia 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 Armenian dram. To keep things simple, we are using the AMD currency code instead of the currency symbol ึ.

How Much Does an Insurance Investigator Make in Armenia?

An Insurance Investigator working in Armenia will typically earn around 9,322,700 AMD per year, and this can range from the lowest average salary of about 5,029,900 AMD to the highest average salary of 14,038,300 AMD.

Average Annual Salary
9,322,700 AMD
Average Monthly Salary
776,891 AMD

Lowest Annual Salary
5,029,900 AMD
Lowest Monthly Salary
419,158 AMD

Highest Annual Salary
14,038,300 AMD
Highest Monthly Salary
1,169,858 AMD

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

Insurance Investigator 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 Investigator Salaries in Armenia

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

Salary ranges

We already know that an Insurance Investigator can earn between 5,029,900 AMD and 14,038,300 AMD on average in Armenia. 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 Investigator in Armenia is 8,578,600 AMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 8,578,600 AMD, and 50% of the population earn more than 8,578,600 AMD.

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 Investigator salary in Armenia, 25% of the population are earning less than 6,118,800 AMD while 75% of the population earn more than 6,118,800 AMD.

75% of the population earn less than 10,415,900 AMD, and 25% of the population earn more than 10,415,900 AMD.

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 Investigator Salary by Experience Level in Armenia

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 investigator 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 Investigator in Armenia that has less than two years of experience can expect to earn somewhere in the region of 5,843,600 AMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Investigator salary would increase to 7,381,700 AMD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Investigator, the average salary would be 9,731,500 AMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 11,447,200 AMD.
  • 15 - 20 Years Experience. An Insurance Investigator with 15 to 20 years of experience can earn an average of 12,721,300 AMD.
  • 20+ Years Experience. For an Insurance Investigator with more than 20 years, the expected average salary increases to 13,441,600 AMD.

Average Salary by Experience Chart

0-2 Years
5,843,600 AMD
2-5 Years +26%
7,381,700 AMD
5-10 Years +32%
9,731,500 AMD
10-15 Years +18%
11,447,200 AMD
15-20 Years +11%
12,721,300 AMD
20+ Years +6%
13,441,600 AMD

Insurance Investigator Salary by Education Level in Armenia

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 Investigator in Armenia 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 Investigator in Armenia with a bachelor's degree education can earn an average salary of 7,561,700 AMD.

  • Master's Degree. An Insurance Investigator in Armenia with a master's degree education can earn an average salary of 11,543,100 AMD.

Average Salary by Education Chart

Bachelor's Degree
7,561,700 AMD
Master's Degree +53%
11,543,100 AMD

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 Armenia is around 3,880,000 to 11,600,000 AMD 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 Investigator 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 Armenia, a male insurance investigator will earn an average of 9,599,200 AMD, while a female insurance investigator will earn around 8,952,900 AMD.

This means that a male insurance investigator earns approximately 7% more than a female insurance investigator for performing the same job.

Average Salary by Gender Chart in Armenia

Male
9,599,200 AMD
Female -7%
8,952,900 AMD

Insurance Investigator Average Pay Raise in Armenia

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 Investigator in Armenia is around 7% every 29 months.

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

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

Annual Pay Raise by Industry in Armenia for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Insurance Investigator Bonus and Incentive Rates in Armenia

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 Investigator is a low bonus based job, with 8% of employees reporting at least one bonus in the last 12 months.

92% 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 2%.

Received Bonus
8%
No Bonus
92%

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 Armenia earn approximately 18% more than private sector employees in the same role.

Public Sector
9,863,700 AMD
Private Sector -18%
8,377,500 AMD

Salaries for Jobs Similar to an Insurance Investigator

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

Job Title Category Salary
Actuarial Analyst Insurance 13,199,100 AMD
Actuarial Assistant Insurance 9,409,200 AMD
Actuarial Specialist Insurance 9,634,900 AMD
Actuary Insurance 12,361,500 AMD
Adjustment Insurance Clerk Insurance 3,635,200 AMD
Assistant Broker Insurance 6,084,900 AMD
Assistant Claims Manager Insurance 10,716,600 AMD
Associate Insurance Representative Insurance 5,003,800 AMD
Auditing Insurance Manager Insurance 14,760,200 AMD
Broker Insurance 9,335,200 AMD
Claim Advocacy Professional Insurance 9,239,600 AMD
Claims Adjuster Insurance 3,718,600 AMD
Claims Analyst Insurance 5,256,700 AMD
Claims Examiner Insurance 4,810,800 AMD
Claims Manager Insurance 13,199,100 AMD
Claims Processor Insurance 3,514,400 AMD
Claims Representative Insurance 4,187,600 AMD
Claims Resolution Specialist Insurance 10,044,200 AMD
Claims Supervisor Insurance 9,478,900 AMD
Complaints Specialist Insurance 9,121,500 AMD
Compliance Examiner Insurance 9,550,600 AMD
Compliance Officer Insurance 7,741,200 AMD
Compliance Reviewer Insurance 8,626,600 AMD
Consultant Insurance 10,057,900 AMD
Eligibility Interviewer Insurance 10,357,200 AMD
Eligibility Specialist Insurance 9,695,200 AMD
Insurance Account Manager Insurance 11,674,300 AMD
Insurance Accounts Executive Insurance 10,248,600 AMD
Insurance Adjuster Insurance 8,724,700 AMD
Insurance Agent Insurance 5,784,200 AMD
Insurance Analyst Insurance 9,565,900 AMD
Insurance Appraiser Insurance 9,610,800 AMD
Insurance Claims Clerk Insurance 3,601,500 AMD
Insurance Examiner Insurance 8,975,900 AMD
Insurance Manager Insurance 16,439,200 AMD
Insurance Operations Manager Insurance 16,320,700 AMD
Insurance Policy Processing Clerk Insurance 3,718,600 AMD
Insurance Pricing Assistant Insurance 7,271,300 AMD
Insurance Program Manager Insurance 12,361,500 AMD
Insurance Project Manager Insurance 12,841,200 AMD
Insurance Quality Assurance Agent Insurance 8,062,900 AMD
Insurance Sales Agent Insurance 6,011,900 AMD
Insurance Sales Director Insurance 16,320,700 AMD
Insurance Sales Manager Insurance 12,841,200 AMD
Insurance Sales Representative Insurance 4,810,800 AMD
Insurance Team Leader Insurance 9,874,200 AMD
Insurance Underwriter Insurance 6,850,500 AMD
Loss Control Specialist Insurance 9,623,400 AMD
Loss Prevention Investigator Insurance 10,475,000 AMD
Loss Prevention Manager Insurance 13,441,600 AMD
Loss Prevention Specialist Insurance 9,910,500 AMD
Marine Underwriter Insurance 7,105,200 AMD
Medical Auditor Insurance 9,684,600 AMD
Monitoring and Performance Officer Insurance 7,007,800 AMD
Payment Services Specialist Insurance 10,102,100 AMD
Policy Change Director Insurance 15,480,300 AMD
Policy Change Supervisor Insurance 10,762,500 AMD
Policy Change Technician Insurance 4,870,300 AMD
Risk Analyst Insurance 10,415,900 AMD
Risk Management Director Insurance 18,239,400 AMD
Risk Management Supervisor Insurance 11,928,100 AMD
Risk Manager Insurance 18,001,100 AMD
Risk Modeling Manager Insurance 18,121,700 AMD
Title Insurance Typist Insurance 8,257,300 AMD
Training Manager Insurance 10,630,600 AMD

Salary Comparison by City

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

City Average Salary
Yerevan 11,447,200 AMD

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