Average Insurance Project Manager Salary in Spain for 2024

In this article, we will look at the average Insurance Project Manager salary for 2024 in Spain 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 Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol โ‚ฌ.

How Much Does an Insurance Project Manager Make in Spain?

An Insurance Project Manager working in Spain will typically earn around 43,520 EUR per year, and this can range from the lowest average salary of about 20,460 EUR to the highest average salary of 69,240 EUR.

Average Annual Salary
43,520 EUR
Average Monthly Salary
3,626 EUR

Lowest Annual Salary
20,460 EUR
Lowest Monthly Salary
1,705 EUR

Highest Annual Salary
69,240 EUR
Highest Monthly Salary
5,770 EUR

These are average salaries for an Insurance Project Manager in Spain 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 Spain

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

Salary ranges

We already know that an Insurance Project Manager can earn between 20,460 EUR and 69,240 EUR on average in Spain. 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 Spain is 43,520 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 43,520 EUR, and 50% of the population earn more than 43,520 EUR.

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 Spain, 25% of the population are earning less than 31,540 EUR while 75% of the population earn more than 31,540 EUR.

75% of the population earn less than 55,320 EUR, and 25% of the population earn more than 55,320 EUR.

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 Spain

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 Spain that has less than two years of experience can expect to earn somewhere in the region of 26,080 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Project Manager salary would increase to 35,300 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Project Manager, the average salary would be 47,760 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 57,360 EUR.
  • 15 - 20 Years Experience. An Insurance Project Manager with 15 to 20 years of experience can earn an average of 61,400 EUR.
  • 20+ Years Experience. For an Insurance Project Manager with more than 20 years, the expected average salary increases to 66,020 EUR.

Average Salary by Experience Chart

0-2 Years
26,080 EUR
2-5 Years +32%
35,300 EUR
5-10 Years +34%
47,760 EUR
10-15 Years +19%
57,360 EUR
15-20 Years +8%
61,400 EUR
20+ Years +7%
66,020 EUR

Insurance Project Manager Salary by Education Level in Spain

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 Spain 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 Spain with a bachelor's degree education can earn an average salary of 37,380 EUR.

  • Master's Degree. An Insurance Project Manager in Spain with a master's degree education can earn an average salary of 58,280 EUR.

Average Salary by Education Chart

Bachelor's Degree
37,380 EUR
Master's Degree +58%
58,280 EUR

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 Spain is around 13,600 to 40,700 EUR 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 Spain, a male insurance project manager will earn an average of 46,280 EUR, while a female insurance project manager will earn around 43,260 EUR.

This means that a male insurance project manager earns approximately 7% more than a female insurance project manager for performing the same job.

Average Salary by Gender Chart in Spain

Male
46,280 EUR
Female -7%
43,260 EUR

Insurance Project Manager Average Pay Raise in Spain

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 Spain is around 11% every 18 months.

The national average pay raise across all professions and industries in Spain is around 8% every 17 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 ÷ 18 ) × 12  = 7%

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

Annual Pay Raise by Industry in Spain for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Insurance Project Manager Bonus and Incentive Rates in Spain

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 56% of employees reporting at least one bonus in the last 12 months.

44% 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
56%
No Bonus
44%

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 Spain earn approximately 6% more than private sector employees in the same role.

Public Sector
34,240 EUR
Private Sector -6%
32,200 EUR

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 Spain.

Job Title Category Salary
Actuarial Analyst Insurance 48,340 EUR
Actuarial Assistant Insurance 34,980 EUR
Actuarial Specialist Insurance 34,480 EUR
Actuary Insurance 43,800 EUR
Adjustment Insurance Clerk Insurance 14,660 EUR
Assistant Broker Insurance 24,280 EUR
Assistant Claims Manager Insurance 36,800 EUR
Associate Insurance Representative Insurance 19,640 EUR
Auditing Insurance Manager Insurance 52,540 EUR
Broker Insurance 35,500 EUR
Claim Advocacy Professional Insurance 34,360 EUR
Claims Adjuster Insurance 14,660 EUR
Claims Analyst Insurance 19,480 EUR
Claims Examiner Insurance 20,500 EUR
Claims Manager Insurance 48,940 EUR
Claims Processor Insurance 13,100 EUR
Claims Representative Insurance 15,300 EUR
Claims Resolution Specialist Insurance 37,380 EUR
Claims Supervisor Insurance 34,080 EUR
Complaints Specialist Insurance 31,400 EUR
Compliance Examiner Insurance 34,160 EUR
Compliance Officer Insurance 27,620 EUR
Compliance Reviewer Insurance 32,900 EUR
Consultant Insurance 36,940 EUR
Eligibility Interviewer Insurance 35,000 EUR
Eligibility Specialist Insurance 33,960 EUR
Insurance Account Manager Insurance 38,620 EUR
Insurance Accounts Executive Insurance 37,620 EUR
Insurance Adjuster Insurance 31,520 EUR
Insurance Agent Insurance 20,940 EUR
Insurance Analyst Insurance 33,440 EUR
Insurance Appraiser Insurance 35,300 EUR
Insurance Claims Clerk Insurance 12,580 EUR
Insurance Examiner Insurance 31,180 EUR
Insurance Investigator Insurance 31,520 EUR
Insurance Manager Insurance 54,560 EUR
Insurance Operations Manager Insurance 56,140 EUR
Insurance Policy Processing Clerk Insurance 14,200 EUR
Insurance Pricing Assistant Insurance 25,440 EUR
Insurance Program Manager Insurance 46,840 EUR
Insurance Quality Assurance Agent Insurance 29,600 EUR
Insurance Sales Agent Insurance 20,000 EUR
Insurance Sales Director Insurance 55,580 EUR
Insurance Sales Manager Insurance 44,800 EUR
Insurance Sales Representative Insurance 19,020 EUR
Insurance Team Leader Insurance 34,960 EUR
Insurance Underwriter Insurance 25,440 EUR
Loss Control Specialist Insurance 34,960 EUR
Loss Prevention Investigator Insurance 36,700 EUR
Loss Prevention Manager Insurance 47,120 EUR
Loss Prevention Specialist Insurance 34,960 EUR
Marine Underwriter Insurance 25,940 EUR
Medical Auditor Insurance 34,480 EUR
Monitoring and Performance Officer Insurance 24,860 EUR
Payment Services Specialist Insurance 34,380 EUR
Policy Change Director Insurance 50,020 EUR
Policy Change Supervisor Insurance 34,280 EUR
Policy Change Technician Insurance 17,560 EUR
Risk Analyst Insurance 38,140 EUR
Risk Management Director Insurance 60,460 EUR
Risk Management Supervisor Insurance 42,460 EUR
Risk Manager Insurance 58,440 EUR
Risk Modeling Manager Insurance 60,180 EUR
Title Insurance Typist Insurance 30,840 EUR
Training Manager Insurance 39,960 EUR

Salary Comparison by City

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

City Average Salary
Barcelona 43,760 EUR
Bilbao 40,240 EUR
Las Palmas 39,800 EUR
Madrid 46,280 EUR
Malaga 43,360 EUR
Murcia 44,300 EUR
Palma de Mallorca 43,340 EUR
Sevilla 47,180 EUR
Valencia 45,620 EUR
Zaragoza 40,600 EUR

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