Average Insurance Pricing Assistant Salary in Philippines for 2024

In this article, we will look at the average Insurance Pricing Assistant salary for 2024 in Philippines 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 Philippine peso. To keep things simple, we are using the PHP currency code instead of the currency symbol โ‚ฑ.

How Much Does an Insurance Pricing Assistant Make in Philippines?

An Insurance Pricing Assistant working in Philippines will typically earn around 428,400 PHP per year, and this can range from the lowest average salary of about 195,200 PHP to the highest average salary of 680,100 PHP.

Average Annual Salary
428,400 PHP
Average Monthly Salary
35,700 PHP

Lowest Annual Salary
195,200 PHP
Lowest Monthly Salary
16,266 PHP

Highest Annual Salary
680,100 PHP
Highest Monthly Salary
56,675 PHP

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

Insurance Pricing Assistant 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 Pricing Assistant Salaries in Philippines

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

Salary ranges

We already know that an Insurance Pricing Assistant can earn between 195,200 PHP and 680,100 PHP on average in Philippines. 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 Pricing Assistant in Philippines is 460,500 PHP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 460,500 PHP, and 50% of the population earn more than 460,500 PHP.

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 Pricing Assistant salary in Philippines, 25% of the population are earning less than 296,000 PHP while 75% of the population earn more than 296,000 PHP.

75% of the population earn less than 615,700 PHP, and 25% of the population earn more than 615,700 PHP.

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 Pricing Assistant Salary by Experience Level in Philippines

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 pricing assistant 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 Pricing Assistant in Philippines that has less than two years of experience can expect to earn somewhere in the region of 221,500 PHP.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Pricing Assistant salary would increase to 299,500 PHP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Pricing Assistant, the average salary would be 442,200 PHP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 537,300 PHP.
  • 15 - 20 Years Experience. An Insurance Pricing Assistant with 15 to 20 years of experience can earn an average of 583,000 PHP.
  • 20+ Years Experience. For an Insurance Pricing Assistant with more than 20 years, the expected average salary increases to 632,400 PHP.

Average Salary by Experience Chart

0-2 Years
221,500 PHP
2-5 Years +34%
299,500 PHP
5-10 Years +48%
442,200 PHP
10-15 Years +22%
537,300 PHP
15-20 Years +9%
583,000 PHP
20+ Years +8%
632,400 PHP

Insurance Pricing Assistant Salary by Education Level in Philippines

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.

The data we have below is combined across all professions. To view the most accurate data possible, you can select a specific job from the list below.

Employees that have earned a certificate or diploma from a post-secondary program can expect to earn approximately 17% more than those who only completed high school level.

If you have a bachelor's degree, you can expect to earn approximately 25% more than those who only completed to a certificate or diploma level.

For professionals reaching the master's degree level, your salary would be around 30% higher than those with a bachelor's degree.

If you are able to achieve a PhD, you can expect to earn approximately 22% more than those with a master's degree for the same job role.

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 Philippines is around 223,000 to 669,000 PHP 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 Pricing Assistant 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 Philippines, a male insurance pricing assistant will earn an average of 454,900 PHP, while a female insurance pricing assistant will earn around 396,300 PHP.

This means that a male insurance pricing assistant earns approximately 15% more than a female insurance pricing assistant for performing the same job.

Average Salary by Gender Chart in Philippines

Male
454,900 PHP
Female -15%
396,300 PHP

Insurance Pricing Assistant Average Pay Raise in Philippines

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 Pricing Assistant in Philippines is around 10% every 18 months.

The national average pay raise across all professions and industries in Philippines is around 8% every 18 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 = ( 10 ÷ 18 ) × 12  = 7%

What this means is that an Insurance Pricing Assistant in Philippines can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Philippines for 2024

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

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 Pricing Assistant Bonus and Incentive Rates in Philippines

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 Pricing Assistant is a low bonus based job, with 32% of employees reporting at least one bonus in the last 12 months.

68% 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
32%
No Bonus
68%

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 Philippines earn approximately 12% more than private sector employees in the same role.

Public Sector
563,300 PHP
Private Sector -12%
504,300 PHP

Salaries for Jobs Similar to an Insurance Pricing Assistant

In the table below, we have salary information for jobs that are similar to an Insurance Pricing Assistant in Philippines.

Job Title Category Salary
Actuarial Analyst Insurance 689,900 PHP
Actuarial Assistant Insurance 471,700 PHP
Actuarial Specialist Insurance 513,300 PHP
Actuary Insurance 672,600 PHP
Adjustment Insurance Clerk Insurance 195,200 PHP
Assistant Broker Insurance 330,700 PHP
Assistant Claims Manager Insurance 559,000 PHP
Associate Insurance Representative Insurance 283,400 PHP
Auditing Insurance Manager Insurance 767,000 PHP
Broker Insurance 504,300 PHP
Claim Advocacy Professional Insurance 531,700 PHP
Claims Adjuster Insurance 187,500 PHP
Claims Analyst Insurance 279,400 PHP
Claims Examiner Insurance 272,800 PHP
Claims Manager Insurance 713,900 PHP
Claims Processor Insurance 201,100 PHP
Claims Representative Insurance 228,500 PHP
Claims Resolution Specialist Insurance 555,800 PHP
Claims Supervisor Insurance 524,400 PHP
Complaints Specialist Insurance 504,400 PHP
Compliance Examiner Insurance 476,600 PHP
Compliance Officer Insurance 412,000 PHP
Compliance Reviewer Insurance 504,500 PHP
Consultant Insurance 501,400 PHP
Eligibility Interviewer Insurance 582,700 PHP
Eligibility Specialist Insurance 516,100 PHP
Insurance Account Manager Insurance 619,000 PHP
Insurance Accounts Executive Insurance 565,100 PHP
Insurance Adjuster Insurance 492,400 PHP
Insurance Agent Insurance 314,500 PHP
Insurance Analyst Insurance 539,800 PHP
Insurance Appraiser Insurance 539,700 PHP
Insurance Claims Clerk Insurance 196,800 PHP
Insurance Examiner Insurance 466,900 PHP
Insurance Investigator Insurance 516,100 PHP
Insurance Manager Insurance 890,700 PHP
Insurance Operations Manager Insurance 938,700 PHP
Insurance Policy Processing Clerk Insurance 197,600 PHP
Insurance Program Manager Insurance 653,200 PHP
Insurance Project Manager Insurance 641,900 PHP
Insurance Quality Assurance Agent Insurance 437,300 PHP
Insurance Sales Agent Insurance 308,900 PHP
Insurance Sales Director Insurance 816,000 PHP
Insurance Sales Manager Insurance 653,200 PHP
Insurance Sales Representative Insurance 261,300 PHP
Insurance Team Leader Insurance 578,500 PHP
Insurance Underwriter Insurance 394,300 PHP
Loss Control Specialist Insurance 510,200 PHP
Loss Prevention Investigator Insurance 533,000 PHP
Loss Prevention Manager Insurance 727,400 PHP
Loss Prevention Specialist Insurance 572,200 PHP
Marine Underwriter Insurance 392,300 PHP
Medical Auditor Insurance 524,700 PHP
Monitoring and Performance Officer Insurance 378,800 PHP
Payment Services Specialist Insurance 514,800 PHP
Policy Change Director Insurance 836,800 PHP
Policy Change Supervisor Insurance 559,000 PHP
Policy Change Technician Insurance 243,000 PHP
Risk Analyst Insurance 588,500 PHP
Risk Management Director Insurance 987,200 PHP
Risk Management Supervisor Insurance 683,800 PHP
Risk Manager Insurance 991,000 PHP
Risk Modeling Manager Insurance 965,000 PHP
Title Insurance Typist Insurance 454,900 PHP
Training Manager Insurance 574,200 PHP

Salary Comparison by City

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

City Average Salary
Antipolo 447,300 PHP
Cagayan de Oro 415,900 PHP
Cebu 440,200 PHP
Dasmarinas 385,300 PHP
Davao 493,000 PHP
Kalookan 464,400 PHP
Las Pinas 411,400 PHP
Makati 390,000 PHP
Manila 492,400 PHP
Paranaque 436,200 PHP
Pasig 428,400 PHP
Quezon City 514,300 PHP
Taguig 478,100 PHP
Valenzuela 420,100 PHP

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