Average Insurance Operations Manager Salary in Zimbabwe for 2024

In this article, we will look at the average Insurance Operations Manager salary for 2024 in Zimbabwe 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 Zimbabwean dollar. To keep things simple, we are using the ZWL currency code instead of the currency symbol $.

How Much Does an Insurance Operations Manager Make in Zimbabwe?

An Insurance Operations Manager working in Zimbabwe will typically earn around 4,558,700 ZWL per year, and this can range from the lowest average salary of about 2,100,900 ZWL to the highest average salary of 7,259,000 ZWL.

Average Annual Salary
4,558,700 ZWL
Average Monthly Salary
379,891 ZWL

Lowest Annual Salary
2,100,900 ZWL
Lowest Monthly Salary
175,075 ZWL

Highest Annual Salary
7,259,000 ZWL
Highest Monthly Salary
604,916 ZWL

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

Insurance Operations 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 Operations Manager Salaries in Zimbabwe

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

Salary ranges

We already know that an Insurance Operations Manager can earn between 2,100,900 ZWL and 7,259,000 ZWL on average in Zimbabwe. 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 Operations Manager in Zimbabwe is 4,931,400 ZWL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 4,931,400 ZWL, and 50% of the population earn more than 4,931,400 ZWL.

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 Operations Manager salary in Zimbabwe, 25% of the population are earning less than 3,168,300 ZWL while 75% of the population earn more than 3,168,300 ZWL.

75% of the population earn less than 6,577,500 ZWL, and 25% of the population earn more than 6,577,500 ZWL.

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 Operations Manager Salary by Experience Level in Zimbabwe

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 operations 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 Operations Manager in Zimbabwe that has less than two years of experience can expect to earn somewhere in the region of 2,389,200 ZWL.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Operations Manager salary would increase to 3,178,700 ZWL.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Operations Manager, the average salary would be 4,703,900 ZWL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 5,735,900 ZWL.
  • 15 - 20 Years Experience. An Insurance Operations Manager with 15 to 20 years of experience can earn an average of 6,251,400 ZWL.
  • 20+ Years Experience. For an Insurance Operations Manager with more than 20 years, the expected average salary increases to 6,768,400 ZWL.

Average Salary by Experience Chart

0-2 Years
2,389,200 ZWL
2-5 Years +34%
3,178,700 ZWL
5-10 Years +48%
4,703,900 ZWL
10-15 Years +22%
5,735,900 ZWL
15-20 Years +9%
6,251,400 ZWL
20+ Years +8%
6,768,400 ZWL

Insurance Operations Manager Salary by Education Level in Zimbabwe

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 Operations Manager in Zimbabwe 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 Operations Manager in Zimbabwe with a bachelor's degree education can earn an average salary of 2,773,700 ZWL.

  • Master's Degree. An Insurance Operations Manager in Zimbabwe with a master's degree education can earn an average salary of 5,351,400 ZWL.

Average Salary by Education Chart

Bachelor's Degree
2,773,700 ZWL
Master's Degree +93%
5,351,400 ZWL

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 Zimbabwe is around 1,080,000 to 3,250,000 ZWL 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 Operations 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 Zimbabwe, a male insurance operations manager will earn an average of 4,834,900 ZWL, while a female insurance operations manager will earn around 4,282,500 ZWL.

This means that a male insurance operations manager earns approximately 13% more than a female insurance operations manager for performing the same job.

Average Salary by Gender Chart in Zimbabwe

Male
4,834,900 ZWL
Female -13%
4,282,500 ZWL

Insurance Operations Manager Average Pay Raise in Zimbabwe

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 Operations Manager in Zimbabwe is around 8% every 31 months.

The national average pay raise across all professions and industries in Zimbabwe 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 = ( 8 ÷ 31 ) × 12  = 3%

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

Annual Pay Raise by Industry in Zimbabwe for 2024

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

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

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

Insurance Operations Manager Bonus and Incentive Rates in Zimbabwe

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 Operations Manager is a moderate bonus based job, with 68% of employees reporting at least one bonus in the last 12 months.

32% 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 5% to 9%.

Received Bonus
68%
No Bonus
32%

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 Zimbabwe earn approximately 25% more than private sector employees in the same role.

Public Sector
2,893,600 ZWL
Private Sector -25%
2,314,800 ZWL

Salaries for Jobs Similar to an Insurance Operations Manager

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

Job Title Category Salary
Actuarial Analyst Insurance 3,406,900 ZWL
Actuarial Assistant Insurance 2,508,300 ZWL
Actuarial Specialist Insurance 2,401,300 ZWL
Actuary Insurance 3,564,300 ZWL
Adjustment Insurance Clerk Insurance 1,004,400 ZWL
Assistant Broker Insurance 1,716,600 ZWL
Assistant Claims Manager Insurance 2,928,100 ZWL
Associate Insurance Representative Insurance 1,391,600 ZWL
Auditing Insurance Manager Insurance 3,792,300 ZWL
Broker Insurance 2,579,200 ZWL
Claim Advocacy Professional Insurance 2,533,800 ZWL
Claims Adjuster Insurance 990,700 ZWL
Claims Analyst Insurance 1,306,100 ZWL
Claims Examiner Insurance 1,369,700 ZWL
Claims Manager Insurance 3,863,700 ZWL
Claims Processor Insurance 962,900 ZWL
Claims Representative Insurance 1,180,700 ZWL
Claims Resolution Specialist Insurance 2,844,200 ZWL
Claims Supervisor Insurance 2,676,200 ZWL
Complaints Specialist Insurance 2,290,300 ZWL
Compliance Examiner Insurance 2,495,600 ZWL
Compliance Officer Insurance 2,136,200 ZWL
Compliance Reviewer Insurance 2,327,100 ZWL
Consultant Insurance 2,629,100 ZWL
Eligibility Interviewer Insurance 2,662,900 ZWL
Eligibility Specialist Insurance 2,566,100 ZWL
Insurance Account Manager Insurance 3,144,700 ZWL
Insurance Accounts Executive Insurance 2,724,700 ZWL
Insurance Adjuster Insurance 2,423,000 ZWL
Insurance Agent Insurance 1,500,800 ZWL
Insurance Analyst Insurance 2,605,500 ZWL
Insurance Appraiser Insurance 2,519,500 ZWL
Insurance Claims Clerk Insurance 973,800 ZWL
Insurance Examiner Insurance 2,508,300 ZWL
Insurance Investigator Insurance 2,435,600 ZWL
Insurance Manager Insurance 4,439,200 ZWL
Insurance Policy Processing Clerk Insurance 1,004,400 ZWL
Insurance Pricing Assistant Insurance 2,038,500 ZWL
Insurance Program Manager Insurance 3,601,500 ZWL
Insurance Project Manager Insurance 3,349,100 ZWL
Insurance Quality Assurance Agent Insurance 2,362,300 ZWL
Insurance Sales Agent Insurance 1,510,400 ZWL
Insurance Sales Director Insurance 4,355,800 ZWL
Insurance Sales Manager Insurance 3,577,600 ZWL
Insurance Sales Representative Insurance 1,380,400 ZWL
Insurance Team Leader Insurance 2,711,900 ZWL
Insurance Underwriter Insurance 1,870,400 ZWL
Loss Control Specialist Insurance 2,447,200 ZWL
Loss Prevention Investigator Insurance 2,748,900 ZWL
Loss Prevention Manager Insurance 3,622,400 ZWL
Loss Prevention Specialist Insurance 2,773,700 ZWL
Marine Underwriter Insurance 2,003,200 ZWL
Medical Auditor Insurance 2,629,100 ZWL
Monitoring and Performance Officer Insurance 1,896,700 ZWL
Payment Services Specialist Insurance 2,653,700 ZWL
Policy Change Director Insurance 3,925,200 ZWL
Policy Change Supervisor Insurance 2,831,100 ZWL
Policy Change Technician Insurance 1,320,500 ZWL
Risk Analyst Insurance 3,013,500 ZWL
Risk Management Director Insurance 4,943,500 ZWL
Risk Management Supervisor Insurance 3,335,900 ZWL
Risk Manager Insurance 4,681,400 ZWL
Risk Modeling Manager Insurance 4,895,800 ZWL
Title Insurance Typist Insurance 2,146,100 ZWL
Training Manager Insurance 2,987,000 ZWL

Salary Comparison by City

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

City Average Salary
Bulawayo 4,488,100 ZWL
Harare 4,822,700 ZWL

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