Average Underwriter Salary in Macao for 2024

In this article, we will look at the average Underwriter salary for 2024 in Macao 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 Macanese pataca. To keep things simple, we are using the MOP currency code instead of the currency symbol P.

How Much Does an Underwriter Make in Macao?

An Underwriter working in Macao will typically earn around 47,120 MOP per year, and this can range from the lowest average salary of about 21,560 MOP to the highest average salary of 73,880 MOP.

Average Annual Salary
47,120 MOP
Average Monthly Salary
3,926 MOP

Lowest Annual Salary
21,560 MOP
Lowest Monthly Salary
1,796 MOP

Highest Annual Salary
73,880 MOP
Highest Monthly Salary
6,156 MOP

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

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 Underwriter Salaries in Macao

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

Salary ranges

We already know that an Underwriter can earn between 21,560 MOP and 73,880 MOP on average in Macao. 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 Underwriter in Macao is 50,240 MOP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 50,240 MOP, and 50% of the population earn more than 50,240 MOP.

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 Underwriter salary in Macao, 25% of the population are earning less than 32,960 MOP while 75% of the population earn more than 32,960 MOP.

75% of the population earn less than 66,140 MOP, and 25% of the population earn more than 66,140 MOP.

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.

Underwriter Salary by Experience Level in Macao

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 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. An Underwriter in Macao that has less than two years of experience can expect to earn somewhere in the region of 23,140 MOP.
  • 2 - 5 Years Experience. With two to five years of experience the average Underwriter salary would increase to 30,700 MOP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Underwriter, the average salary would be 48,160 MOP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 57,620 MOP.
  • 15 - 20 Years Experience. An Underwriter with 15 to 20 years of experience can earn an average of 61,680 MOP.
  • 20+ Years Experience. For an Underwriter with more than 20 years, the expected average salary increases to 66,960 MOP.

Average Salary by Experience Chart

0-2 Years
23,140 MOP
2-5 Years +34%
30,700 MOP
5-10 Years +48%
48,160 MOP
10-15 Years +22%
57,620 MOP
15-20 Years +9%
61,680 MOP
20+ Years +8%
66,960 MOP

Underwriter Salary by Education Level in Macao

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

  • High School. An Underwriter in Macao with a high school education can earn an average salary of 26,100 MOP.

  • Certificate or Diploma. An Underwriter in Macao with a certificate or diploma education can earn an average salary of 41,820 MOP.

  • Bachelor's Degree. An Underwriter in Macao with a bachelor's degree education can earn an average salary of 73,820 MOP.

Average Salary by Education Chart

High School
26,100 MOP
Certificate or Diploma +57%
41,820 MOP
Bachelor's Degree +68%
73,820 MOP

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 Macao is around 37,300 to 112,000 MOP 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.

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 Macao, a male underwriter will earn an average of 49,200 MOP, while a female underwriter will earn around 43,360 MOP.

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

Average Salary by Gender Chart in Macao

Male
49,200 MOP
Female -13%
43,360 MOP

Underwriter Average Pay Raise in Macao

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 Underwriter in Macao is around 7% every 27 months.

The national average pay raise across all professions and industries in Macao 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 = ( 7 ÷ 27 ) × 12  = 3%

What this means is that an Underwriter in Macao can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Macao for 2024

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

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%

Underwriter Bonus and Incentive Rates in Macao

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 Underwriter is a low bonus based job, with 15% of employees reporting at least one bonus in the last 12 months.

85% 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 4%.

Received Bonus
15%
No Bonus
85%

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 Macao earn approximately 21% more than private sector employees in the same role.

Public Sector
97,460 MOP
Private Sector -21%
80,580 MOP

Salaries for Jobs Similar to an Underwriter

In the table below, we have salary information for jobs that are similar to an Underwriter in Macao.

Job Title Category Salary
Account Examiner Accounting and Finance 48,820 MOP
Account Executive Accounting and Finance 80,840 MOP
Accountant Accounting and Finance 64,040 MOP
Accounting Analyst Accounting and Finance 80,520 MOP
Accounting Assistant Accounting and Finance 51,080 MOP
Accounting Associate Accounting and Finance 46,040 MOP
Accounting Clerk Accounting and Finance 39,080 MOP
Accounting Coordinator Accounting and Finance 55,580 MOP
Accounting Head Accounting and Finance 129,000 MOP
Accounting Manager Accounting and Finance 134,600 MOP
Accounting Officer Accounting and Finance 45,620 MOP
Accounting Specialist Accounting and Finance 86,520 MOP
Accounting Supervisor Accounting and Finance 85,760 MOP
Accounting Technician Accounting and Finance 48,140 MOP
Accounting Unit Controller Accounting and Finance 104,600 MOP
Accounts Executive Accounting and Finance 77,340 MOP
Accounts Officer Accounting and Finance 51,100 MOP
Accounts Payable and Receivable Specialist Accounting and Finance 61,680 MOP
Accounts Payable Assistant Accounting and Finance 50,660 MOP
Accounts Payable Associate Accounting and Finance 54,500 MOP
Accounts Payable Clerk Accounting and Finance 47,580 MOP
Accounts Payable Manager Accounting and Finance 128,900 MOP
Accounts Receivable Administrator Accounting and Finance 95,860 MOP
Accounts Receivable Clerk Accounting and Finance 43,800 MOP
Accounts Receivable Financial Analyst Accounting and Finance 91,520 MOP
Accounts Receivable Manager Accounting and Finance 123,400 MOP
Accounts Receivable Team Leader Accounting and Finance 91,560 MOP
Assistant Accountant Accounting and Finance 49,020 MOP
Assistant Accounting Manager Accounting and Finance 124,400 MOP
Assistant Auditor Accounting and Finance 60,840 MOP
Assistant Corporate Controller Accounting and Finance 92,400 MOP
Assistant Finance Manager Accounting and Finance 138,800 MOP
Assistant Financial Controller Accounting and Finance 88,020 MOP
Audit Director Accounting and Finance 146,200 MOP
Audit Supervisor Accounting and Finance 118,060 MOP
Auditing Clerk Accounting and Finance 51,100 MOP
Auditing Manager Accounting and Finance 136,200 MOP
Billing Clerk Accounting and Finance 49,820 MOP
Billing Coordinator Accounting and Finance 60,180 MOP
Billing Specialist Accounting and Finance 68,400 MOP
Billing Supervisor Accounting and Finance 98,440 MOP
Bookkeeper Accounting and Finance 41,480 MOP
Bookkeeping Specialist Accounting and Finance 66,000 MOP
Budget Analyst Accounting and Finance 116,420 MOP
Budget Manager Accounting and Finance 129,000 MOP
Business Support Analyst Accounting and Finance 70,940 MOP
Capital Markets Associate Accounting and Finance 91,840 MOP
Cash Flow Analyst Accounting and Finance 96,680 MOP
Cash Management Manager Accounting and Finance 128,500 MOP
Cash Management Officer Accounting and Finance 78,960 MOP
Cashbook Clerk Accounting and Finance 41,480 MOP
Chartered Accountant Accounting and Finance 80,580 MOP
Chief Accountant Accounting and Finance 98,140 MOP
Collections Clerk Accounting and Finance 41,180 MOP
Collections Representative Accounting and Finance 56,140 MOP
Collections Specialist Accounting and Finance 67,560 MOP
Corporate Controller Accounting and Finance 99,080 MOP
Corporate Treasurer Accounting and Finance 125,100 MOP
Cost Accountant Accounting and Finance 66,000 MOP
Cost Accounting Manager Accounting and Finance 128,900 MOP
Cost Accounting Supervisor Accounting and Finance 102,240 MOP
Cost Analyst Accounting and Finance 98,000 MOP
Credit and Collection Manager Accounting and Finance 124,400 MOP
Credit and Collection Staff Accounting and Finance 48,200 MOP
Credit and Loans Officer Accounting and Finance 43,800 MOP
Credit Controller Accounting and Finance 86,800 MOP
Credit Manager Accounting and Finance 136,100 MOP
Debt Adviser Accounting and Finance 105,940 MOP
Debt Collector Accounting and Finance 52,820 MOP
Debtors Clerk Accounting and Finance 43,080 MOP
Debtors Controller Accounting and Finance 45,620 MOP
Deputy CFO Accounting and Finance 180,500 MOP
Deputy Head of Finance Accounting and Finance 172,200 MOP
Derivative Trader Accounting and Finance 108,320 MOP
Director of Finance Accounting and Finance 194,600 MOP
Economist Accounting and Finance 157,600 MOP
Equity Analyst Accounting and Finance 108,340 MOP
Escrow Assistant Accounting and Finance 58,280 MOP
Executive Accountant Accounting and Finance 72,380 MOP
External Auditor Accounting and Finance 94,800 MOP
Finance Administrator Accounting and Finance 74,380 MOP
Finance Analyst Accounting and Finance 119,900 MOP
Finance Associate Accounting and Finance 57,320 MOP
Finance Director Accounting and Finance 181,600 MOP
Finance Executive Accounting and Finance 142,300 MOP
Finance Licensing Clerk Accounting and Finance 49,360 MOP
Finance Licensing Manager Accounting and Finance 118,200 MOP
Finance Licensing Specialist Accounting and Finance 67,320 MOP
Finance Manager Accounting and Finance 175,900 MOP
Finance Officer Accounting and Finance 58,000 MOP
Finance President Accounting and Finance 197,600 MOP
Finance Relationship Manager Accounting and Finance 142,300 MOP
Finance Release Analyst Accounting and Finance 75,500 MOP
Finance Specialist Accounting and Finance 107,320 MOP
Finance Team Leader Accounting and Finance 138,800 MOP
Financial Accountant Accounting and Finance 60,840 MOP
Financial Actuary Accounting and Finance 97,900 MOP
Financial Administrator Accounting and Finance 106,160 MOP
Financial Advisor Accounting and Finance 119,900 MOP
Financial Analyst Accounting and Finance 113,700 MOP
Financial Applications Specialist Accounting and Finance 78,400 MOP
Financial Assistant Accounting and Finance 50,620 MOP
Financial Associate Accounting and Finance 49,200 MOP
Financial Associate Accounting and Finance 57,440 MOP
Financial Claims Analyst Accounting and Finance 86,740 MOP
Financial Claims Manager Accounting and Finance 119,500 MOP
Financial Claims Supervisor Accounting and Finance 102,380 MOP
Financial Clerk Accounting and Finance 48,160 MOP
Financial Commercial Analyst Accounting and Finance 93,340 MOP
Financial Compliance Analyst Accounting and Finance 102,960 MOP
Financial Consultant Accounting and Finance 85,460 MOP
Financial Controller Accounting and Finance 102,960 MOP
Financial Controller Accounting and Finance 106,160 MOP
Financial Coordinator Accounting and Finance 59,380 MOP
Financial Customer Service Manager Accounting and Finance 119,900 MOP
Financial Dealer and Broker Accounting and Finance 66,260 MOP
Financial Director Accounting and Finance 183,700 MOP
Financial Encoder Accounting and Finance 50,620 MOP
Financial Manager Accounting and Finance 172,200 MOP
Financial Manager Accounting and Finance 187,500 MOP
Financial Operations Manager Accounting and Finance 168,100 MOP
Financial Policy Analyst Accounting and Finance 103,600 MOP
Financial Project Manager Accounting and Finance 137,400 MOP
Financial Quantitative Analyst Accounting and Finance 110,380 MOP
Financial Reporting Consultant Accounting and Finance 91,520 MOP
Financial Reporting Manager Accounting and Finance 127,700 MOP
Financial Section Head Accounting and Finance 124,400 MOP
Financial Services Manager Accounting and Finance 158,700 MOP
Financial Services Sales Agent Accounting and Finance 69,240 MOP
Fixed Assets Administrator Accounting and Finance 69,240 MOP
Forensic Accountant Accounting and Finance 71,660 MOP
Fraud Detection Supervisor Accounting and Finance 74,560 MOP
Fraud Prevention Manager Accounting and Finance 128,500 MOP
Fund Accountant Accounting and Finance 60,460 MOP
Grants Coordinator Accounting and Finance 48,560 MOP
Group Financial Manager Accounting and Finance 187,500 MOP
Internal Auditor Accounting and Finance 83,140 MOP
Internal Control Adviser Accounting and Finance 97,760 MOP
Internal Control Officer Accounting and Finance 56,100 MOP
International Tax Director Accounting and Finance 152,300 MOP
Inventory Accountant Accounting and Finance 64,180 MOP
Investment Advisor Accounting and Finance 180,300 MOP
Investment Analyst Accounting and Finance 123,400 MOP
Investment Associate Accounting and Finance 110,120 MOP
Investment Broker Accounting and Finance 106,780 MOP
Investment Fund Manager Accounting and Finance 150,000 MOP
Investment Operations Manager Accounting and Finance 146,200 MOP
Investment Underwriter Accounting and Finance 52,380 MOP
Investor Accounting and Finance 84,800 MOP
Investor Relations Manager Accounting and Finance 125,100 MOP
KYC Team Leader Accounting and Finance 125,700 MOP
Loan Processor Accounting and Finance 55,940 MOP
Management Accountant Accounting and Finance 72,120 MOP
Management Economist Accounting and Finance 143,200 MOP
Paymaster Accounting and Finance 53,120 MOP
Payroll Administrator Accounting and Finance 84,580 MOP
Payroll Benefits Coordinator Accounting and Finance 70,940 MOP
Payroll Billing Manager Accounting and Finance 119,500 MOP
Payroll Clerk Accounting and Finance 58,860 MOP
Payroll Manager Accounting and Finance 114,900 MOP
Payroll Officer Accounting and Finance 59,380 MOP
Payroll Specialist Accounting and Finance 64,720 MOP
Payroll Supervisor Accounting and Finance 80,520 MOP
Pensions Administrator Accounting and Finance 63,400 MOP
Personal Financial Advisor Accounting and Finance 93,340 MOP
Pricing Analyst Accounting and Finance 103,840 MOP
Private Equity Analyst Accounting and Finance 110,380 MOP
Project Accountant Accounting and Finance 69,540 MOP
Proposal Development Coordinator Accounting and Finance 52,880 MOP
Receivables Accountant Accounting and Finance 60,600 MOP
Regulatory Accountant Accounting and Finance 70,260 MOP
Retirement Plan Analyst Accounting and Finance 99,080 MOP
Revenue Management Specialist Accounting and Finance 105,880 MOP
Revenue Recognition Analyst Accounting and Finance 120,040 MOP
Risk Management Director Accounting and Finance 154,700 MOP
Risk Management Supervisor Accounting and Finance 128,900 MOP
Staff Accountant Accounting and Finance 61,780 MOP
Tax Accountant Accounting and Finance 58,440 MOP
Tax Administrator Accounting and Finance 72,260 MOP
Tax Advisor Accounting and Finance 94,940 MOP
Tax Analyst Accounting and Finance 99,080 MOP
Tax Associate Accounting and Finance 57,360 MOP
Tax Consultant Accounting and Finance 105,800 MOP
Tax Director Accounting and Finance 142,300 MOP
Tax Examiner Accounting and Finance 70,700 MOP
Tax Manager Accounting and Finance 124,400 MOP
Tax Research Manager Accounting and Finance 129,000 MOP
Teller Accounting and Finance 37,800 MOP
Treasury Accountant Accounting and Finance 66,680 MOP
Treasury Analyst Accounting and Finance 105,980 MOP
Underwriting Assistant Accounting and Finance 42,040 MOP
Vice President of Finance Accounting and Finance 169,000 MOP

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