Average Risk Manager Salary in Laos for 2024

In this article, we will look at the average Risk Manager salary for 2024 in Laos 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 Lao kip. To keep things simple, we are using the LAK currency code instead of the currency symbol โ‚ญ.

How Much Does a Risk Manager Make in Laos?

A Risk Manager working in Laos will typically earn around 100,679,100 LAK per year, and this can range from the lowest average salary of about 46,319,900 LAK to the highest average salary of 159,601,400 LAK.

Average Annual Salary
100,679,100 LAK
Average Monthly Salary
8,389,925 LAK

Lowest Annual Salary
46,319,900 LAK
Lowest Monthly Salary
3,859,991 LAK

Highest Annual Salary
159,601,400 LAK
Highest Monthly Salary
13,300,116 LAK

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

Risk 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 Risk Manager Salaries in Laos

So we've looked at the average salaries a Risk Manager will earn in Laos. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Risk Manager can earn between 46,319,900 LAK and 159,601,400 LAK on average in Laos. 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 Risk Manager in Laos is 108,719,900 LAK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 108,719,900 LAK, and 50% of the population earn more than 108,719,900 LAK.

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 Risk Manager salary in Laos, 25% of the population are earning less than 69,840,500 LAK while 75% of the population earn more than 69,840,500 LAK.

75% of the population earn less than 145,200,100 LAK, and 25% of the population earn more than 145,200,100 LAK.

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.

Risk Manager Salary by Experience Level in Laos

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 risk 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. A Risk Manager in Laos that has less than two years of experience can expect to earn somewhere in the region of 52,558,300 LAK.
  • 2 - 5 Years Experience. With two to five years of experience the average Risk Manager salary would increase to 70,199,400 LAK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Risk Manager, the average salary would be 103,800,400 LAK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 125,999,700 LAK.
  • 15 - 20 Years Experience. A Risk Manager with 15 to 20 years of experience can earn an average of 138,000,600 LAK.
  • 20+ Years Experience. For a Risk Manager with more than 20 years, the expected average salary increases to 148,800,300 LAK.

Average Salary by Experience Chart

0-2 Years
52,558,300 LAK
2-5 Years +34%
70,199,400 LAK
5-10 Years +48%
103,800,400 LAK
10-15 Years +22%
125,999,700 LAK
15-20 Years +9%
138,000,600 LAK
20+ Years +8%
148,800,300 LAK

Risk Manager Salary by Education Level in Laos

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 Risk Manager in Laos 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. A Risk Manager in Laos with a bachelor's degree education can earn an average salary of 61,080,900 LAK.

  • Master's Degree. A Risk Manager in Laos with a master's degree education can earn an average salary of 117,959,400 LAK.

Average Salary by Education Chart

Bachelor's Degree
61,080,900 LAK
Master's Degree +93%
117,959,400 LAK

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 Laos is around 22,700,000 to 68,200,000 LAK 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.

Risk 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 Laos, a male risk manager will earn an average of 106,921,000 LAK, while a female risk manager will earn around 94,440,800 LAK.

This means that a male risk manager earns approximately 13% more than a female risk manager for performing the same job.

Average Salary by Gender Chart in Laos

Male
106,921,000 LAK
Female -13%
94,440,800 LAK

Risk Manager Average Pay Raise in Laos

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 Risk Manager in Laos is around 8% every 31 months.

The national average pay raise across all professions and industries in Laos 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 = ( 8 ÷ 31 ) × 12  = 3%

What this means is that a Risk Manager in Laos can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Laos for 2024

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

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%

Risk Manager Bonus and Incentive Rates in Laos

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 Risk Manager is a moderate bonus based job, with 68% of employees reporting at least one bonus in the last 12 months.

32% 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 5% to 9%.

Received Bonus
68%
No Bonus
32%

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 Laos earn approximately 25% more than private sector employees in the same role.

Public Sector
60,598,100 LAK
Private Sector -25%
48,601,200 LAK

Salaries for Jobs Similar to a Risk Manager

In the table below, we have salary information for jobs that are similar to a Risk Manager in Laos.

Job Title Category Salary
Actuarial Analyst Insurance 74,639,200 LAK
Actuarial Assistant Insurance 53,398,300 LAK
Actuarial Specialist Insurance 55,081,300 LAK
Actuary Insurance 74,518,900 LAK
Adjustment Insurance Clerk Insurance 20,400,600 LAK
Assistant Broker Insurance 34,441,600 LAK
Assistant Claims Manager Insurance 62,279,800 LAK
Associate Insurance Representative Insurance 29,881,100 LAK
Auditing Insurance Manager Insurance 82,921,700 LAK
Broker Insurance 57,841,700 LAK
Claim Advocacy Professional Insurance 56,520,500 LAK
Claims Adjuster Insurance 21,121,400 LAK
Claims Analyst Insurance 30,001,600 LAK
Claims Examiner Insurance 30,479,000 LAK
Claims Manager Insurance 76,199,500 LAK
Claims Processor Insurance 20,400,600 LAK
Claims Representative Insurance 24,958,800 LAK
Claims Resolution Specialist Insurance 61,799,000 LAK
Claims Supervisor Insurance 55,440,900 LAK
Complaints Specialist Insurance 50,158,700 LAK
Compliance Examiner Insurance 53,639,100 LAK
Compliance Officer Insurance 44,161,600 LAK
Compliance Reviewer Insurance 53,879,800 LAK
Consultant Insurance 56,520,500 LAK
Eligibility Interviewer Insurance 59,518,100 LAK
Eligibility Specialist Insurance 56,998,400 LAK
Insurance Account Manager Insurance 69,359,500 LAK
Insurance Accounts Executive Insurance 58,079,300 LAK
Insurance Adjuster Insurance 54,719,600 LAK
Insurance Agent Insurance 34,799,800 LAK
Insurance Analyst Insurance 56,520,500 LAK
Insurance Appraiser Insurance 55,678,400 LAK
Insurance Claims Clerk Insurance 20,999,200 LAK
Insurance Examiner Insurance 52,681,700 LAK
Insurance Investigator Insurance 54,961,400 LAK
Insurance Manager Insurance 95,759,900 LAK
Insurance Operations Manager Insurance 100,679,100 LAK
Insurance Policy Processing Clerk Insurance 19,921,600 LAK
Insurance Pricing Assistant Insurance 44,161,600 LAK
Insurance Program Manager Insurance 76,199,500 LAK
Insurance Project Manager Insurance 71,999,700 LAK
Insurance Quality Assurance Agent Insurance 46,560,900 LAK
Insurance Sales Agent Insurance 32,519,500 LAK
Insurance Sales Director Insurance 92,758,800 LAK
Insurance Sales Manager Insurance 72,958,100 LAK
Insurance Sales Representative Insurance 28,919,800 LAK
Insurance Team Leader Insurance 59,281,600 LAK
Insurance Underwriter Insurance 41,878,100 LAK
Loss Control Specialist Insurance 55,440,900 LAK
Loss Prevention Investigator Insurance 60,720,600 LAK
Loss Prevention Manager Insurance 78,241,300 LAK
Loss Prevention Specialist Insurance 58,199,900 LAK
Marine Underwriter Insurance 41,520,800 LAK
Medical Auditor Insurance 56,520,500 LAK
Monitoring and Performance Officer Insurance 38,878,700 LAK
Payment Services Specialist Insurance 58,559,300 LAK
Policy Change Director Insurance 91,679,200 LAK
Policy Change Supervisor Insurance 58,319,900 LAK
Policy Change Technician Insurance 26,639,300 LAK
Risk Analyst Insurance 63,481,200 LAK
Risk Management Director Insurance 111,961,900 LAK
Risk Management Supervisor Insurance 73,558,300 LAK
Risk Modeling Manager Insurance 102,478,200 LAK
Title Insurance Typist Insurance 46,319,900 LAK
Training Manager Insurance 60,119,800 LAK

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