Average Insurance Manager Salary in Samoa for 2024

In this article, we will look at the average Insurance Manager salary for 2024 in Samoa 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 Samoan tālā. To keep things simple, we are using the WST currency code instead of the currency symbol T.

How Much Does an Insurance Manager Make in Samoa?

An Insurance Manager working in Samoa will typically earn around 47,580 WST per year, and this can range from the lowest average salary of about 23,080 WST to the highest average salary of 73,100 WST.

Average Annual Salary
47,580 WST
Average Monthly Salary
3,965 WST

Lowest Annual Salary
23,080 WST
Lowest Monthly Salary
1,923 WST

Highest Annual Salary
73,100 WST
Highest Monthly Salary
6,091 WST

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

Insurance Manager 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 Manager Salaries in Samoa

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

Salary ranges

We already know that an Insurance Manager can earn between 23,080 WST and 73,100 WST on average in Samoa. 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 Manager in Samoa is 48,820 WST. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 48,820 WST, and 50% of the population earn more than 48,820 WST.

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 Manager salary in Samoa, 25% of the population are earning less than 32,960 WST while 75% of the population earn more than 32,960 WST.

75% of the population earn less than 57,860 WST, and 25% of the population earn more than 57,860 WST.

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 Manager Salary by Experience Level in Samoa

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 manager 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 Manager in Samoa that has less than two years of experience can expect to earn somewhere in the region of 26,660 WST.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Manager salary would increase to 36,160 WST.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Manager, the average salary would be 50,240 WST.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 58,440 WST.
  • 15 - 20 Years Experience. An Insurance Manager with 15 to 20 years of experience can earn an average of 64,200 WST.
  • 20+ Years Experience. For an Insurance Manager with more than 20 years, the expected average salary increases to 69,260 WST.

Average Salary by Experience Chart

0-2 Years
26,660 WST
2-5 Years +31%
36,160 WST
5-10 Years +40%
50,240 WST
10-15 Years +20%
58,440 WST
15-20 Years +9%
64,200 WST
20+ Years +8%
69,260 WST

Insurance Manager Salary by Education Level in Samoa

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 Manager in Samoa 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 Manager in Samoa with a bachelor's degree education can earn an average salary of 34,540 WST.

  • Master's Degree. An Insurance Manager in Samoa with a master's degree education can earn an average salary of 61,180 WST.

Average Salary by Education Chart

Bachelor's Degree
34,540 WST
Master's Degree +77%
61,180 WST

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 Samoa is around 12,200 to 36,600 WST 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 Manager 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 Samoa, a male insurance manager will earn an average of 53,120 WST, while a female insurance manager will earn around 45,600 WST.

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

Average Salary by Gender Chart in Samoa

Male
53,120 WST
Female -16%
45,600 WST

Insurance Manager Average Pay Raise in Samoa

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 Manager in Samoa is around 9% every 29 months.

The national average pay raise across all professions and industries in Samoa 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 = ( 9 ÷ 29 ) × 12  = 4%

What this means is that an Insurance Manager in Samoa can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Samoa for 2024

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

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

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Insurance Manager Bonus and Incentive Rates in Samoa

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 Manager is a moderate bonus based job, with 63% of employees reporting at least one bonus in the last 12 months.

37% 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 6% to 8%.

Received Bonus
63%
No Bonus
37%

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

Public Sector
33,120 WST
Private Sector -14%
29,040 WST

Salaries for Jobs Similar to an Insurance Manager

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

Job Title Category Salary
Actuarial Analyst Insurance 36,720 WST
Actuarial Assistant Insurance 25,660 WST
Actuarial Specialist Insurance 25,660 WST
Actuary Insurance 37,740 WST
Adjustment Insurance Clerk Insurance 12,300 WST
Assistant Broker Insurance 19,200 WST
Assistant Claims Manager Insurance 27,560 WST
Associate Insurance Representative Insurance 14,660 WST
Auditing Insurance Manager Insurance 43,220 WST
Broker Insurance 27,560 WST
Claim Advocacy Professional Insurance 28,820 WST
Claims Adjuster Insurance 9,960 WST
Claims Analyst Insurance 14,840 WST
Claims Examiner Insurance 14,200 WST
Claims Manager Insurance 39,960 WST
Claims Processor Insurance 9,980 WST
Claims Representative Insurance 12,120 WST
Claims Resolution Specialist Insurance 32,200 WST
Claims Supervisor Insurance 27,480 WST
Complaints Specialist Insurance 25,680 WST
Compliance Examiner Insurance 29,040 WST
Compliance Officer Insurance 20,760 WST
Compliance Reviewer Insurance 25,440 WST
Consultant Insurance 27,480 WST
Eligibility Interviewer Insurance 29,320 WST
Eligibility Specialist Insurance 27,480 WST
Insurance Account Manager Insurance 34,360 WST
Insurance Accounts Executive Insurance 31,400 WST
Insurance Adjuster Insurance 26,080 WST
Insurance Agent Insurance 15,380 WST
Insurance Analyst Insurance 26,400 WST
Insurance Appraiser Insurance 29,040 WST
Insurance Claims Clerk Insurance 9,460 WST
Insurance Examiner Insurance 26,780 WST
Insurance Investigator Insurance 29,040 WST
Insurance Operations Manager Insurance 49,560 WST
Insurance Policy Processing Clerk Insurance 8,880 WST
Insurance Pricing Assistant Insurance 23,520 WST
Insurance Program Manager Insurance 38,060 WST
Insurance Project Manager Insurance 36,800 WST
Insurance Quality Assurance Agent Insurance 22,340 WST
Insurance Sales Agent Insurance 15,300 WST
Insurance Sales Director Insurance 48,340 WST
Insurance Sales Manager Insurance 38,140 WST
Insurance Sales Representative Insurance 14,920 WST
Insurance Team Leader Insurance 29,320 WST
Insurance Underwriter Insurance 19,160 WST
Loss Control Specialist Insurance 25,440 WST
Loss Prevention Investigator Insurance 28,720 WST
Loss Prevention Manager Insurance 40,420 WST
Loss Prevention Specialist Insurance 29,600 WST
Marine Underwriter Insurance 20,460 WST
Medical Auditor Insurance 28,720 WST
Monitoring and Performance Officer Insurance 19,360 WST
Payment Services Specialist Insurance 29,040 WST
Policy Change Director Insurance 44,720 WST
Policy Change Supervisor Insurance 31,660 WST
Policy Change Technician Insurance 14,540 WST
Risk Analyst Insurance 31,660 WST
Risk Management Director Insurance 51,340 WST
Risk Management Supervisor Insurance 36,800 WST
Risk Manager Insurance 54,180 WST
Risk Modeling Manager Insurance 53,380 WST
Title Insurance Typist Insurance 26,020 WST
Training Manager Insurance 31,340 WST

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