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Insurance Average Salaries in Chad 2021

How much money does a person working in Insurance make in Chad?

Average Monthly Salary
489,000 XAF
( 5,860,000 XAF yearly)


A person working in Insurance in Chad typically earns around 489,000 XAF per month. Salaries range from 181,000 XAF (lowest average) to 943,000 XAF (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Insurance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Actuarial Analyst666,000 XAF
Actuarial Assistant442,000 XAF
Actuary631,000 XAF
Adjustment Insurance Clerk177,000 XAF
Assistant Broker323,000 XAF
Assistant Claims Manager542,000 XAF
Associate Insurance Representative260,000 XAF
Auditing Insurance Manager740,000 XAF
Broker479,000 XAF
Claim Advocacy Professional480,000 XAF
Claims Adjuster174,000 XAF
Claims Analyst255,000 XAF
Claims Examiner266,000 XAF
Claims Manager680,000 XAF
Claims Processor187,000 XAF
Claims Representative217,000 XAF
Claims Resolution Specialist537,000 XAF
Claims Supervisor470,000 XAF
Complaints Specialist471,000 XAF
Compliance Officer394,000 XAF
Consultant479,000 XAF
Eligibility Specialist496,000 XAF
Insurance Account Manager589,000 XAF
Insurance Accounts Executive506,000 XAF
Insurance Agent281,000 XAF
Insurance Analyst504,000 XAF
Insurance Appraiser497,000 XAF
Insurance Claims Clerk174,000 XAF
Insurance Examiner447,000 XAF
Insurance Investigator479,000 XAF
Insurance Manager833,000 XAF
Insurance Operations Manager876,000 XAF
Insurance Policy Processing Clerk178,000 XAF
Insurance Pricing Assistant394,000 XAF
Insurance Program Manager615,000 XAF
Insurance Project Manager611,000 XAF
Insurance Quality Assurance Agent415,000 XAF
Insurance Sales Agent298,000 XAF
Insurance Sales Director767,000 XAF
Insurance Team Leader541,000 XAF
Insurance Underwriter355,000 XAF
Loss Control Specialist459,000 XAF
Loss Prevention Investigator516,000 XAF
Loss Prevention Manager680,000 XAF
Loss Prevention Specialist520,000 XAF
Marine Underwriter352,000 XAF
Medical Auditor492,000 XAF
Monitoring and Performance Officer347,000 XAF
Payment Services Specialist497,000 XAF
Policy Change Director760,000 XAF
Policy Change Supervisor547,000 XAF
Policy Change Technician231,000 XAF
Risk Analyst525,000 XAF
Risk Management Director950,000 XAF
Risk Management Supervisor640,000 XAF
Risk Manager899,000 XAF
Risk Modeling Manager937,000 XAF
Title Insurance Typist414,000 XAF
Training Manager564,000 XAF

Insurance Jobs Salary Distribution in Chad

Median and salary distribution monthly Chad Insurance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Insurance salaries in Chad range from 181,000 XAF per month (minimum average salary) to 943,000 XAF per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 469,000 XAF per month, which means that half (50%) of people working in Insurance are earning less than 469,000 XAF while the other half are earning more than 469,000 XAF. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Insurance are earning less than 293,000 XAF while 75% of them are earning more than 293,000 XAF. Also from the diagram, 75% of people working in Insurance are earning less than 678,000 XAF while 25% are earning more than 678,000 XAF.

What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.

Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.

Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Chad costs anywhere from 2,440,000 CFA Franc BEAC(s) to 7,310,000 CFA Franc BEAC(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Insurance Salary Comparison By Gender

Salary comparison by gender monthly Chad Insurance
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Chad who work in Insurance earn 13% more than their female counterparts on average.

526,000 XAF
465,000 XAF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Chad for all Careers

Salary comparison by gender monthly Chad
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Insurance Average Annual Salary Increment Percentage in Chad

How much are annual salary increments in Chad for Insurance professionals? How often do employees get salary raises?


Insurance professionals in Chad are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Chad Insurance
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Chad / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Chad is 2%.

Annual Increment Rate By Industry 2020

Information Technology

Listed above are the average annual increase rates for each industry in Chad for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Worldwide Salary Raises: All Countries and All Jobs

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Insurance Bonus and Incentive Rates in Chad

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Chad Insurance
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Insurance is considered to be a moderate bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

67% of surveyed staff in Insurance reported that they haven't received any bonuses or incentives in the previous year while 33% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.

Received Bonus
No Bonus

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.

What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

A graphics designer working for a graphics designing company.

A graphic designer in the marketing department of a hospital.

Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Insurance Hourly Average Wage in Chad

2,820 XAF per hour

The average hourly wage (pay per hour) in Chad is 2,820 XAF. This means that the average person in Chad earns approximately 2,820 XAF for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Insurance VS Other Jobs

Salary Comparison Between Insurance and Insurance monthly Chad
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The average salary for Insurance is 0% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
NDjamena550,000 XAF

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Chad earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
448,000 XAF
Public Sector+14%
512,000 XAF
Percentage increase and decrease are relative to the previous value

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