Average Risk Modeling Manager Salary in Western Sahara for 2024

In this article, we will look at the average Risk Modeling Manager salary for 2024 in Western Sahara 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 Moroccan dirham. To keep things simple, we are using the MAD currency code instead of the currency symbol DH.

How Much Does a Risk Modeling Manager Make in Western Sahara?

A Risk Modeling Manager working in Western Sahara will typically earn around 228,500 MAD per year, and this can range from the lowest average salary of about 111,920 MAD to the highest average salary of 353,600 MAD.

Average Annual Salary
228,500 MAD
Average Monthly Salary
19,041 MAD

Lowest Annual Salary
111,920 MAD
Lowest Monthly Salary
9,326 MAD

Highest Annual Salary
353,600 MAD
Highest Monthly Salary
29,466 MAD

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

Risk Modeling 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 Modeling Manager Salaries in Western Sahara

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

Salary ranges

We already know that a Risk Modeling Manager can earn between 111,920 MAD and 353,600 MAD on average in Western Sahara. 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 Modeling Manager in Western Sahara is 232,900 MAD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 232,900 MAD, and 50% of the population earn more than 232,900 MAD.

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 Modeling Manager salary in Western Sahara, 25% of the population are earning less than 152,300 MAD while 75% of the population earn more than 152,300 MAD.

75% of the population earn less than 297,000 MAD, and 25% of the population earn more than 297,000 MAD.

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 Modeling Manager Salary by Experience Level in Western Sahara

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 modeling 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 Modeling Manager in Western Sahara that has less than two years of experience can expect to earn somewhere in the region of 130,400 MAD.
  • 2 - 5 Years Experience. With two to five years of experience the average Risk Modeling Manager salary would increase to 169,000 MAD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Risk Modeling Manager, the average salary would be 233,600 MAD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 290,800 MAD.
  • 15 - 20 Years Experience. A Risk Modeling Manager with 15 to 20 years of experience can earn an average of 312,400 MAD.
  • 20+ Years Experience. For a Risk Modeling Manager with more than 20 years, the expected average salary increases to 330,900 MAD.

Average Salary by Experience Chart

0-2 Years
130,400 MAD
2-5 Years +29%
169,000 MAD
5-10 Years +38%
233,600 MAD
10-15 Years +24%
290,800 MAD
15-20 Years +7%
312,400 MAD
20+ Years +7%
330,900 MAD

Risk Modeling Manager Salary by Education Level in Western Sahara

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 Modeling Manager in Western Sahara 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 Modeling Manager in Western Sahara with a bachelor's degree education can earn an average salary of 163,800 MAD.

  • Master's Degree. A Risk Modeling Manager in Western Sahara with a master's degree education can earn an average salary of 263,900 MAD.

Average Salary by Education Chart

Bachelor's Degree
163,800 MAD
Master's Degree +60%
263,900 MAD

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 Western Sahara is around 51,900 to 156,000 MAD 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 Modeling 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 Western Sahara, a male risk modeling manager will earn an average of 237,400 MAD, while a female risk modeling manager will earn around 210,500 MAD.

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

Average Salary by Gender Chart in Western Sahara

Male
237,400 MAD
Female -13%
210,500 MAD

Risk Modeling Manager Average Pay Raise in Western Sahara

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 Modeling Manager in Western Sahara is around 9% every 30 months.

The national average pay raise across all professions and industries in Western Sahara is around 5% every 28 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 = ( 9 ÷ 30 ) × 12  = 4%

What this means is that a Risk Modeling Manager in Western Sahara can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Western Sahara for 2024

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

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

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

Risk Modeling Manager Bonus and Incentive Rates in Western Sahara

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 Modeling Manager is a moderate bonus based job, with 65% of employees reporting at least one bonus in the last 12 months.

35% 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
65%
No Bonus
35%

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

Public Sector
128,900 MAD
Private Sector -12%
115,080 MAD

Salaries for Jobs Similar to a Risk Modeling Manager

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

Job Title Category Salary
Actuarial Analyst Insurance 168,100 MAD
Actuarial Assistant Insurance 123,400 MAD
Actuarial Specialist Insurance 115,620 MAD
Actuary Insurance 159,400 MAD
Adjustment Insurance Clerk Insurance 45,600 MAD
Assistant Broker Insurance 77,400 MAD
Assistant Claims Manager Insurance 136,100 MAD
Associate Insurance Representative Insurance 64,620 MAD
Auditing Insurance Manager Insurance 185,100 MAD
Broker Insurance 119,700 MAD
Claim Advocacy Professional Insurance 124,400 MAD
Claims Adjuster Insurance 47,720 MAD
Claims Analyst Insurance 61,680 MAD
Claims Examiner Insurance 64,620 MAD
Claims Manager Insurance 169,000 MAD
Claims Processor Insurance 47,120 MAD
Claims Representative Insurance 53,380 MAD
Claims Resolution Specialist Insurance 138,200 MAD
Claims Supervisor Insurance 129,000 MAD
Complaints Specialist Insurance 118,200 MAD
Compliance Examiner Insurance 123,400 MAD
Compliance Officer Insurance 99,080 MAD
Compliance Reviewer Insurance 112,600 MAD
Consultant Insurance 129,000 MAD
Eligibility Interviewer Insurance 136,200 MAD
Eligibility Specialist Insurance 123,400 MAD
Insurance Account Manager Insurance 151,800 MAD
Insurance Accounts Executive Insurance 138,200 MAD
Insurance Adjuster Insurance 118,380 MAD
Insurance Agent Insurance 69,240 MAD
Insurance Analyst Insurance 124,400 MAD
Insurance Appraiser Insurance 125,700 MAD
Insurance Claims Clerk Insurance 45,600 MAD
Insurance Examiner Insurance 113,840 MAD
Insurance Investigator Insurance 123,400 MAD
Insurance Manager Insurance 212,500 MAD
Insurance Operations Manager Insurance 212,500 MAD
Insurance Policy Processing Clerk Insurance 43,760 MAD
Insurance Pricing Assistant Insurance 97,640 MAD
Insurance Program Manager Insurance 159,400 MAD
Insurance Project Manager Insurance 163,800 MAD
Insurance Quality Assurance Agent Insurance 101,980 MAD
Insurance Sales Agent Insurance 77,400 MAD
Insurance Sales Director Insurance 210,500 MAD
Insurance Sales Manager Insurance 164,200 MAD
Insurance Sales Representative Insurance 60,460 MAD
Insurance Team Leader Insurance 129,000 MAD
Insurance Underwriter Insurance 93,340 MAD
Loss Control Specialist Insurance 119,560 MAD
Loss Prevention Investigator Insurance 130,400 MAD
Loss Prevention Manager Insurance 172,200 MAD
Loss Prevention Specialist Insurance 134,600 MAD
Marine Underwriter Insurance 97,060 MAD
Medical Auditor Insurance 127,700 MAD
Monitoring and Performance Officer Insurance 85,880 MAD
Payment Services Specialist Insurance 125,700 MAD
Policy Change Director Insurance 187,300 MAD
Policy Change Supervisor Insurance 136,100 MAD
Policy Change Technician Insurance 64,040 MAD
Risk Analyst Insurance 142,300 MAD
Risk Management Director Insurance 232,900 MAD
Risk Management Supervisor Insurance 157,600 MAD
Risk Manager Insurance 239,300 MAD
Title Insurance Typist Insurance 111,860 MAD
Training Manager Insurance 130,400 MAD

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Risk Modeling Manager Salary in Western Sahara for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-risk-modeling-manager-salary-in-western-sahara/.

  • "Average Risk Modeling Manager Salary in Western Sahara for 2024". World Salaries, https://worldsalaries.com/average-risk-modeling-manager-salary-in-western-sahara/. Accessed 28 March, 2024

  • Average Risk Modeling Manager Salary in Western Sahara for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-risk-modeling-manager-salary-in-western-sahara/.