Average Insurance Project Manager Salary in Myanmar for 2024

In this article, we will look at the average Insurance Project Manager salary for 2024 in Myanmar 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 Burmese kyat. To keep things simple, we are using the MMK currency code instead of the currency symbol Ks.

How Much Does an Insurance Project Manager Make in Myanmar?

An Insurance Project Manager working in Myanmar will typically earn around 8,664,400 MMK per year, and this can range from the lowest average salary of about 4,414,800 MMK to the highest average salary of 13,319,300 MMK.

Average Annual Salary
8,664,400 MMK
Average Monthly Salary
722,033 MMK

Lowest Annual Salary
4,414,800 MMK
Lowest Monthly Salary
367,900 MMK

Highest Annual Salary
13,319,300 MMK
Highest Monthly Salary
1,109,941 MMK

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

Insurance Project 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 Project Manager Salaries in Myanmar

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

Salary ranges

We already know that an Insurance Project Manager can earn between 4,414,800 MMK and 13,319,300 MMK on average in Myanmar. 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 Project Manager in Myanmar is 8,496,400 MMK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 8,496,400 MMK, and 50% of the population earn more than 8,496,400 MMK.

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 Project Manager salary in Myanmar, 25% of the population are earning less than 5,806,300 MMK while 75% of the population earn more than 5,806,300 MMK.

75% of the population earn less than 10,704,700 MMK, and 25% of the population earn more than 10,704,700 MMK.

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 Project Manager Salary by Experience Level in Myanmar

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 project 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 Project Manager in Myanmar that has less than two years of experience can expect to earn somewhere in the region of 4,956,800 MMK.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Project Manager salary would increase to 6,469,100 MMK.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Project Manager, the average salary would be 9,060,600 MMK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 10,882,800 MMK.
  • 15 - 20 Years Experience. An Insurance Project Manager with 15 to 20 years of experience can earn an average of 11,818,500 MMK.
  • 20+ Years Experience. For an Insurance Project Manager with more than 20 years, the expected average salary increases to 12,721,300 MMK.

Average Salary by Experience Chart

0-2 Years
4,956,800 MMK
2-5 Years +31%
6,469,100 MMK
5-10 Years +40%
9,060,600 MMK
10-15 Years +20%
10,882,800 MMK
15-20 Years +9%
11,818,500 MMK
20+ Years +8%
12,721,300 MMK

Insurance Project Manager Salary by Education Level in Myanmar

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 Project Manager in Myanmar 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 Project Manager in Myanmar with a bachelor's degree education can earn an average salary of 6,118,800 MMK.

  • Master's Degree. An Insurance Project Manager in Myanmar with a master's degree education can earn an average salary of 10,849,200 MMK.

Average Salary by Education Chart

Bachelor's Degree
6,118,800 MMK
Master's Degree +77%
10,849,200 MMK

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 Myanmar is around 2,720,000 to 8,170,000 MMK 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 Project 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 Myanmar, a male insurance project manager will earn an average of 9,456,600 MMK, while a female insurance project manager will earn around 7,942,800 MMK.

This means that a male insurance project manager earns approximately 19% more than a female insurance project manager for performing the same job.

Average Salary by Gender Chart in Myanmar

Male
9,456,600 MMK
Female -19%
7,942,800 MMK

Insurance Project Manager Average Pay Raise in Myanmar

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 Project Manager in Myanmar is around 11% every 19 months.

The national average pay raise across all professions and industries in Myanmar 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 = ( 11 ÷ 19 ) × 12  = 7%

What this means is that an Insurance Project Manager in Myanmar can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Myanmar for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Insurance Project Manager Bonus and Incentive Rates in Myanmar

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 Project Manager is a moderate bonus based job, with 52% of employees reporting at least one bonus in the last 12 months.

48% 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 3% to 6%.

Received Bonus
52%
No Bonus
48%

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

Public Sector
6,922,100 MMK
Private Sector -12%
6,179,700 MMK

Salaries for Jobs Similar to an Insurance Project Manager

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

Job Title Category Salary
Actuarial Analyst Insurance 8,578,600 MMK
Actuarial Assistant Insurance 6,335,800 MMK
Actuarial Specialist Insurance 6,096,900 MMK
Actuary Insurance 8,689,800 MMK
Adjustment Insurance Clerk Insurance 2,508,300 MMK
Assistant Broker Insurance 4,187,600 MMK
Assistant Claims Manager Insurance 7,189,800 MMK
Associate Insurance Representative Insurance 3,553,500 MMK
Auditing Insurance Manager Insurance 9,528,200 MMK
Broker Insurance 6,780,300 MMK
Claim Advocacy Professional Insurance 6,696,900 MMK
Claims Adjuster Insurance 2,495,600 MMK
Claims Analyst Insurance 3,323,300 MMK
Claims Examiner Insurance 3,481,100 MMK
Claims Manager Insurance 8,975,900 MMK
Claims Processor Insurance 2,485,800 MMK
Claims Representative Insurance 2,953,200 MMK
Claims Resolution Specialist Insurance 6,826,100 MMK
Claims Supervisor Insurance 6,274,900 MMK
Complaints Specialist Insurance 5,926,600 MMK
Compliance Examiner Insurance 6,457,900 MMK
Compliance Officer Insurance 5,136,500 MMK
Compliance Reviewer Insurance 6,058,300 MMK
Consultant Insurance 6,791,800 MMK
Eligibility Interviewer Insurance 7,140,500 MMK
Eligibility Specialist Insurance 6,670,600 MMK
Insurance Account Manager Insurance 7,993,600 MMK
Insurance Accounts Executive Insurance 7,246,500 MMK
Insurance Adjuster Insurance 6,347,100 MMK
Insurance Agent Insurance 3,863,700 MMK
Insurance Analyst Insurance 6,168,300 MMK
Insurance Appraiser Insurance 6,587,900 MMK
Insurance Claims Clerk Insurance 2,314,800 MMK
Insurance Examiner Insurance 5,998,900 MMK
Insurance Investigator Insurance 6,457,900 MMK
Insurance Manager Insurance 11,113,100 MMK
Insurance Operations Manager Insurance 11,184,400 MMK
Insurance Policy Processing Clerk Insurance 2,423,000 MMK
Insurance Pricing Assistant Insurance 4,931,400 MMK
Insurance Program Manager Insurance 8,701,100 MMK
Insurance Quality Assurance Agent Insurance 5,483,600 MMK
Insurance Sales Agent Insurance 4,056,200 MMK
Insurance Sales Director Insurance 11,005,300 MMK
Insurance Sales Manager Insurance 8,879,100 MMK
Insurance Sales Representative Insurance 3,373,200 MMK
Insurance Team Leader Insurance 6,721,800 MMK
Insurance Underwriter Insurance 4,956,800 MMK
Loss Control Specialist Insurance 6,048,900 MMK
Loss Prevention Investigator Insurance 6,840,100 MMK
Loss Prevention Manager Insurance 9,073,200 MMK
Loss Prevention Specialist Insurance 6,971,100 MMK
Marine Underwriter Insurance 4,703,900 MMK
Medical Auditor Insurance 6,552,400 MMK
Monitoring and Performance Officer Insurance 4,391,800 MMK
Payment Services Specialist Insurance 6,587,900 MMK
Policy Change Director Insurance 10,333,800 MMK
Policy Change Supervisor Insurance 6,768,400 MMK
Policy Change Technician Insurance 3,192,300 MMK
Risk Analyst Insurance 7,321,700 MMK
Risk Management Director Insurance 11,998,600 MMK
Risk Management Supervisor Insurance 8,172,900 MMK
Risk Manager Insurance 12,721,300 MMK
Risk Modeling Manager Insurance 12,121,000 MMK
Title Insurance Typist Insurance 5,857,100 MMK
Training Manager Insurance 7,297,800 MMK

Salary Comparison by City

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

City Average Salary
Yangon 9,046,100 MMK

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