Average Marine Underwriter Salary in Nepal for 2024

In this article, we will look at the average Marine Underwriter salary for 2024 in Nepal 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 Nepalese rupee. To keep things simple, we are using the NPR currency code instead of the currency symbol ₨.

How Much Does a Marine Underwriter Make in Nepal?

A Marine Underwriter working in Nepal will typically earn around 694,700 NPR per year, and this can range from the lowest average salary of about 349,300 NPR to the highest average salary of 1,080,200 NPR.

Average Annual Salary

694,700 NPR

Average Monthly Salary

57,891 NPR

Lowest Annual Salary

349,300 NPR

Lowest Monthly Salary

29,108 NPR

Highest Annual Salary

1,080,200 NPR

Highest Monthly Salary

90,016 NPR

These are average salaries for a Marine Underwriter in Nepal and include benefits such as housing and transport. It's also possible for a Marine Underwriter to earn more or less than the average salaries shown above.

Marine Underwriter 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 Marine Underwriter Salaries in Nepal

So we've looked at the average salaries a Marine Underwriter will earn in Nepal. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Marine Underwriter can earn between 349,300 NPR and 1,080,200 NPR on average in Nepal. 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 a Marine Underwriter in Nepal is 694,700 NPR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 694,700 NPR, and 50% of the population earn more than 694,700 NPR.

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 Marine Underwriter salary in Nepal, 25% of the population are earning less than 471,700 NPR while 75% of the population earn more than 471,700 NPR.

75% of the population earn less than 888,400 NPR, and 25% of the population earn more than 888,400 NPR.

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.

Marine Underwriter Salary by Experience Level in Nepal

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 marine underwriter 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. A Marine Underwriter in Nepal that has less than two years of experience can expect to earn somewhere in the region of 419,400 NPR.
2 - 5 Years Experience. With two to five years of experience the average Marine Underwriter salary would increase to 553,800 NPR.
5 - 10 Years Experience. From five to ten years of experience as a Marine Underwriter, the average salary would be 739,500 NPR.
10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 883,500 NPR.
15 - 20 Years Experience. A Marine Underwriter with 15 to 20 years of experience can earn an average of 953,300 NPR.
20+ Years Experience. For a Marine Underwriter with more than 20 years, the expected average salary increases to 1,021,800 NPR.

Average Salary by Experience Chart

0-2 Years		419,400 NPR
2-5 Years	+32%	553,800 NPR
5-10 Years	+34%	739,500 NPR
10-15 Years	+19%	883,500 NPR
15-20 Years	+8%	953,300 NPR
20+ Years	+7%	1,021,800 NPR

Marine Underwriter Salary by Education Level in Nepal

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 a Marine Underwriter in Nepal based on the education level of the employees in order to find out whether a better education level would increase your salary.

Certificate or Diploma. A Marine Underwriter in Nepal with a certificate or diploma education can earn an average salary of 619,000 NPR.
Bachelor's Degree. A Marine Underwriter in Nepal with a bachelor's degree education can earn an average salary of 962,900 NPR.

Average Salary by Education Chart

Certificate or Diploma		619,000 NPR
Bachelor's Degree	+56%	962,900 NPR

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 Nepal is around 404,000 to 1,210,000 NPR 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.

Marine Underwriter 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 Nepal, a male marine underwriter will earn an average of 714,300 NPR, while a female marine underwriter will earn around 675,200 NPR.

This means that a male marine underwriter earns approximately 6% more than a female marine underwriter for performing the same job.

Average Salary by Gender Chart in Nepal

Male		714,300 NPR
Female	-6%	675,200 NPR

Marine Underwriter Average Pay Raise in Nepal

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 a Marine Underwriter in Nepal is around 6% every 29 months.

The national average pay raise across all professions and industries in Nepal 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 a Marine Underwriter in Nepal can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Nepal for 2024

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

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

Banking		7%
Energy		5%
Information Technology		3%
Healthcare		1%
Travel		8%
Construction		6%
Education		4%

Marine Underwriter Bonus and Incentive Rates in Nepal

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.

A Marine Underwriter is a low bonus based job, with 12% of employees reporting at least one bonus in the last 12 months.

88% 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 3%.

Received Bonus		12%
No Bonus		88%

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 Nepal earn approximately 11% more than private sector employees in the same role.

Public Sector		1,037,600 NPR
Private Sector	-11%	939,000 NPR

Salaries for Jobs Similar to a Marine Underwriter

In the table below, we have salary information for jobs that are similar to a Marine Underwriter in Nepal.

Job Title	Category	Salary
Actuarial Analyst	Insurance	1,249,900 NPR
Actuarial Assistant	Insurance	922,300 NPR
Actuarial Specialist	Insurance	889,400 NPR
Actuary	Insurance	1,235,600 NPR
Adjustment Insurance Clerk	Insurance	365,400 NPR
Assistant Broker	Insurance	607,400 NPR
Assistant Claims Manager	Insurance	1,006,300 NPR
Associate Insurance Representative	Insurance	480,300 NPR
Auditing Insurance Manager	Insurance	1,380,400 NPR
Broker	Insurance	932,000 NPR
Claim Advocacy Professional	Insurance	965,000 NPR
Claims Adjuster	Insurance	363,000 NPR
Claims Analyst	Insurance	485,300 NPR
Claims Examiner	Insurance	510,200 NPR
Claims Manager	Insurance	1,320,500 NPR
Claims Processor	Insurance	366,200 NPR
Claims Representative	Insurance	417,100 NPR
Claims Resolution Specialist	Insurance	1,088,800 NPR
Claims Supervisor	Insurance	929,700 NPR
Complaints Specialist	Insurance	895,900 NPR
Compliance Examiner	Insurance	934,900 NPR
Compliance Officer	Insurance	790,300 NPR
Compliance Reviewer	Insurance	879,800 NPR
Consultant	Insurance	986,700 NPR
Eligibility Interviewer	Insurance	993,600 NPR
Eligibility Specialist	Insurance	990,700 NPR
Insurance Account Manager	Insurance	1,192,400 NPR
Insurance Accounts Executive	Insurance	1,004,600 NPR
Insurance Adjuster	Insurance	926,000 NPR
Insurance Agent	Insurance	578,500 NPR
Insurance Analyst	Insurance	919,700 NPR
Insurance Appraiser	Insurance	1,021,800 NPR
Insurance Claims Clerk	Insurance	361,600 NPR
Insurance Examiner	Insurance	844,600 NPR
Insurance Investigator	Insurance	915,100 NPR
Insurance Manager	Insurance	1,645,600 NPR
Insurance Operations Manager	Insurance	1,703,200 NPR
Insurance Policy Processing Clerk	Insurance	341,900 NPR
Insurance Pricing Assistant	Insurance	743,100 NPR
Insurance Program Manager	Insurance	1,259,300 NPR
Insurance Project Manager	Insurance	1,259,300 NPR
Insurance Quality Assurance Agent	Insurance	807,900 NPR
Insurance Sales Agent	Insurance	578,500 NPR
Insurance Sales Director	Insurance	1,606,100 NPR
Insurance Sales Manager	Insurance	1,235,600 NPR
Insurance Sales Representative	Insurance	480,300 NPR
Insurance Team Leader	Insurance	1,006,300 NPR
Insurance Underwriter	Insurance	714,300 NPR
Loss Control Specialist	Insurance	978,900 NPR
Loss Prevention Investigator	Insurance	1,007,400 NPR
Loss Prevention Manager	Insurance	1,345,400 NPR
Loss Prevention Specialist	Insurance	1,032,800 NPR
Medical Auditor	Insurance	970,200 NPR
Monitoring and Performance Officer	Insurance	701,400 NPR
Payment Services Specialist	Insurance	972,200 NPR
Policy Change Director	Insurance	1,547,500 NPR
Policy Change Supervisor	Insurance	1,012,100 NPR
Policy Change Technician	Insurance	478,000 NPR
Risk Analyst	Insurance	1,105,600 NPR
Risk Management Director	Insurance	1,825,000 NPR
Risk Management Supervisor	Insurance	1,235,600 NPR
Risk Manager	Insurance	1,765,300 NPR
Risk Modeling Manager	Insurance	1,846,200 NPR
Title Insurance Typist	Insurance	810,400 NPR
Training Manager	Insurance	1,064,100 NPR

Salary Comparison by City

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

City	Average Salary
Kathmandu	759,300 NPR
Pokhara	754,900 NPR

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