Average Insurance Pricing Assistant Salary in Trinidad and Tobago for 2024

In this article, we will look at the average Insurance Pricing Assistant salary for 2024 in Trinidad and Tobago 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 Trinidad and Tobago dollar. To keep things simple, we are using the TTD currency code instead of the currency symbol $.

How Much Does an Insurance Pricing Assistant Make in Trinidad and Tobago?

An Insurance Pricing Assistant working in Trinidad and Tobago will typically earn around 97,880 TTD per year, and this can range from the lowest average salary of about 46,880 TTD to the highest average salary of 154,700 TTD.

Average Annual Salary
97,880 TTD
Average Monthly Salary
8,156 TTD

Lowest Annual Salary
46,880 TTD
Lowest Monthly Salary
3,906 TTD

Highest Annual Salary
154,700 TTD
Highest Monthly Salary
12,891 TTD

These are average salaries for an Insurance Pricing Assistant in Trinidad and Tobago 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 Trinidad and Tobago

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

Salary ranges

We already know that an Insurance Pricing Assistant can earn between 46,880 TTD and 154,700 TTD on average in Trinidad and Tobago. 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 Trinidad and Tobago is 99,220 TTD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 99,220 TTD, and 50% of the population earn more than 99,220 TTD.

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 Trinidad and Tobago, 25% of the population are earning less than 67,900 TTD while 75% of the population earn more than 67,900 TTD.

75% of the population earn less than 128,500 TTD, and 25% of the population earn more than 128,500 TTD.

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 Trinidad and Tobago

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 Trinidad and Tobago that has less than two years of experience can expect to earn somewhere in the region of 59,380 TTD.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Pricing Assistant salary would increase to 73,120 TTD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Pricing Assistant, the average salary would be 103,600 TTD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 127,700 TTD.
  • 15 - 20 Years Experience. An Insurance Pricing Assistant with 15 to 20 years of experience can earn an average of 136,200 TTD.
  • 20+ Years Experience. For an Insurance Pricing Assistant with more than 20 years, the expected average salary increases to 142,300 TTD.

Average Salary by Experience Chart

0-2 Years
59,380 TTD
2-5 Years +29%
73,120 TTD
5-10 Years +38%
103,600 TTD
10-15 Years +24%
127,700 TTD
15-20 Years +7%
136,200 TTD
20+ Years +7%
142,300 TTD

Insurance Pricing Assistant Salary by Education Level in Trinidad and Tobago

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 Trinidad and Tobago is around 48,800 to 147,000 TTD 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 Trinidad and Tobago, a male insurance pricing assistant will earn an average of 102,240 TTD, while a female insurance pricing assistant will earn around 96,720 TTD.

This means that a male insurance pricing assistant earns approximately 6% more than a female insurance pricing assistant for performing the same job.

Average Salary by Gender Chart in Trinidad and Tobago

Male
102,240 TTD
Female -6%
96,720 TTD

Insurance Pricing Assistant Average Pay Raise in Trinidad and Tobago

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 Trinidad and Tobago is around 6% every 29 months.

The national average pay raise across all professions and industries in Trinidad and Tobago 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 = ( 6 ÷ 29 ) × 12  = 2%

What this means is that an Insurance Pricing Assistant in Trinidad and Tobago can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Trinidad and Tobago for 2024

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

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

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Insurance Pricing Assistant Bonus and Incentive Rates in Trinidad and Tobago

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 13% of employees reporting at least one bonus in the last 12 months.

87% 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
13%
No Bonus
87%

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 Trinidad and Tobago earn approximately 12% more than private sector employees in the same role.

Public Sector
125,700 TTD
Private Sector -12%
112,460 TTD

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 Trinidad and Tobago.

Job Title Category Salary
Actuarial Analyst Insurance 161,600 TTD
Actuarial Assistant Insurance 117,440 TTD
Actuarial Specialist Insurance 119,900 TTD
Actuary Insurance 159,500 TTD
Adjustment Insurance Clerk Insurance 44,720 TTD
Assistant Broker Insurance 71,280 TTD
Assistant Claims Manager Insurance 124,400 TTD
Associate Insurance Representative Insurance 64,180 TTD
Auditing Insurance Manager Insurance 181,600 TTD
Broker Insurance 127,700 TTD
Claim Advocacy Professional Insurance 119,020 TTD
Claims Adjuster Insurance 47,120 TTD
Claims Analyst Insurance 65,800 TTD
Claims Examiner Insurance 60,340 TTD
Claims Manager Insurance 167,100 TTD
Claims Processor Insurance 46,840 TTD
Claims Representative Insurance 54,280 TTD
Claims Resolution Specialist Insurance 128,900 TTD
Claims Supervisor Insurance 123,400 TTD
Complaints Specialist Insurance 108,080 TTD
Compliance Examiner Insurance 107,900 TTD
Compliance Officer Insurance 95,600 TTD
Compliance Reviewer Insurance 109,720 TTD
Consultant Insurance 116,960 TTD
Eligibility Interviewer Insurance 128,900 TTD
Eligibility Specialist Insurance 125,700 TTD
Insurance Account Manager Insurance 151,800 TTD
Insurance Accounts Executive Insurance 125,700 TTD
Insurance Adjuster Insurance 112,660 TTD
Insurance Agent Insurance 74,940 TTD
Insurance Analyst Insurance 112,180 TTD
Insurance Appraiser Insurance 117,860 TTD
Insurance Claims Clerk Insurance 46,400 TTD
Insurance Examiner Insurance 112,760 TTD
Insurance Investigator Insurance 117,520 TTD
Insurance Manager Insurance 204,000 TTD
Insurance Operations Manager Insurance 204,000 TTD
Insurance Policy Processing Clerk Insurance 41,480 TTD
Insurance Program Manager Insurance 159,500 TTD
Insurance Project Manager Insurance 148,300 TTD
Insurance Quality Assurance Agent Insurance 103,140 TTD
Insurance Sales Agent Insurance 71,020 TTD
Insurance Sales Director Insurance 205,700 TTD
Insurance Sales Manager Insurance 151,800 TTD
Insurance Sales Representative Insurance 64,040 TTD
Insurance Team Leader Insurance 125,100 TTD
Insurance Underwriter Insurance 88,580 TTD
Loss Control Specialist Insurance 116,740 TTD
Loss Prevention Investigator Insurance 128,500 TTD
Loss Prevention Manager Insurance 167,100 TTD
Loss Prevention Specialist Insurance 124,400 TTD
Marine Underwriter Insurance 93,140 TTD
Medical Auditor Insurance 119,900 TTD
Monitoring and Performance Officer Insurance 86,800 TTD
Payment Services Specialist Insurance 124,400 TTD
Policy Change Director Insurance 185,100 TTD
Policy Change Supervisor Insurance 128,900 TTD
Policy Change Technician Insurance 57,820 TTD
Risk Analyst Insurance 128,500 TTD
Risk Management Director Insurance 227,600 TTD
Risk Management Supervisor Insurance 151,800 TTD
Risk Manager Insurance 227,600 TTD
Risk Modeling Manager Insurance 232,400 TTD
Title Insurance Typist Insurance 105,880 TTD
Training Manager Insurance 125,700 TTD

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