INSURANCE / SALARY
SOUTH AFRICA

SALARY SURVEYS

74

UPDATED
April 2024
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AVERAGE SALARY / YEAR

MOST TYPICAL SALARY / YEAR

Gross income

Net (after tax)

18.3 ZAR = 1 USD

879,249 ZAR

$48,059 USD

Johannesburg

1,001,095 ZAR

219,542 ZAR

$12,000 USD

Including "Johannesburg"

Excluding "Johannesburg"

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Average Salary / Insurance / South Africa

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Average salary for Insurance / South Africa is 879,249 ZAR per year. The most typical earning is 219,542 ZAR. All data are based on 74 salary surveys. Salaries are different between men and women. Men receive an average salary of 1,064,780 ZAR. Women receive a salary of 684,240 ZAR.

Based on education, the highest salaries receive people with Doctorate Degree with salary of 2,453,386 ZAR. The second most paid education level is Masters Degree with salary of 1,456,297 ZAR.

Different experiences affect earning as well. People with 16-20 Years of experience receive salary of 1,287,982 ZAR. Employees with 20+ Years of experience receive 1,229,437 ZAR.

Levels / Insurance / South Africa (Gross ZAR)

Salary Levels (ZAR) per Year	Surveys	[%]
54,900 ZAR - 91,499 ZAR	0	n/a
91,500 ZAR - 182,899 ZAR	0	n/a
THE MOST TYPICAL SALARY
183,000 ZAR - 274,399 ZAR	8	100% 10.81%
274,400 ZAR - 365,899 ZAR	6	89.19% 8.11%
365,900 ZAR - 457,399 ZAR	7	81.08% 9.46%
457,400 ZAR - 548,799 ZAR	7	71.62% 9.46%
548,900 ZAR - 640,299 ZAR	6	62.16% 8.11%
640,300 ZAR - 731,799 ZAR	1	54.05% 1.35%
731,800 ZAR - 823,299 ZAR	6	52.7% 8.11%
823,300 ZAR - 914,699 ZAR	3	44.59% 4.05%
914,800 ZAR - 1,006,199 ZAR	5	40.54% 6.76%
1,006,200 ZAR - 1,097,699 ZAR	2	33.78% 2.7%
1,097,700 ZAR - 1,189,199 ZAR	4	31.08% 5.41%
1,189,200 ZAR - 1,280,599 ZAR	3	25.68% 4.05%
1,280,700 ZAR - 1,372,099 ZAR	1	21.62% 1.35%
1,372,100 ZAR - 1,463,599 ZAR	4	20.27% 5.41%
1,463,600 ZAR - 1,555,099 ZAR	3	14.86% 4.05%
1,555,100 ZAR - 1,646,499 ZAR	0	n/a
1,646,600 ZAR - 1,737,999 ZAR	1	10.81% 1.35%
1,738,000 ZAR - 1,829,499 ZAR	2	9.46% 2.7%
1,829,500 ZAR - 1,920,999 ZAR	1	6.76% 1.35%
1,921,000 ZAR - 2,012,499 ZAR	0	n/a
2,012,500 ZAR - 2,103,899 ZAR	1	5.41% 1.35%
2,103,900 ZAR - 2,195,399 ZAR	0	n/a
2,195,400 ZAR - 2,286,899 ZAR	0	n/a
2,286,900 ZAR - 2,378,399 ZAR	0	n/a
2,378,400 ZAR - 2,469,799 ZAR	1	4.05% 1.35%
2,469,900 ZAR - 2,561,299 ZAR	0	n/a
2,561,300 ZAR - 2,652,799 ZAR	1	2.7% 1.35%
2,652,800 ZAR - 2,744,299 ZAR	1	1.35% 1.35%
HIGH SALARIES
2,744,300 ZAR - 2,927,199 ZAR	0	n/a
2,927,200 ZAR - 3,110,199 ZAR	0	n/a
3,110,200 ZAR - 3,293,099 ZAR	0	n/a
3,293,100 ZAR - 3,476,099 ZAR	0	n/a
3,476,100 ZAR - 3,658,999 ZAR	0	n/a
3,659,000 ZAR - 3,841,999 ZAR	0	n/a
3,842,000 ZAR - 4,024,899 ZAR	0	n/a
4,024,900 ZAR - 4,207,899 ZAR	0	n/a
4,207,900 ZAR - 4,390,799 ZAR	0	n/a
4,390,800 ZAR - 4,573,799 ZAR	0	n/a
4,573,800 ZAR - 6,403,299 ZAR	0	n/a

Gender / Insurance / South Africa (Gross ZAR)

#		Surveys		AVERAGE SALARY / YEAR
1	Men	37	1,064,780 ZAR
2	Women	22	684,240 ZAR

Education / Insurance / South Africa (Gross ZAR)

#		Surveys
1	Doctorate Degree	1	2,453,386 ZAR
2	Masters Degree	8	1,456,297 ZAR
3	Bachelors Degree	28	889,146 ZAR
4	Some College	26	826,943 ZAR
5	High School	11	415,301 ZAR

Experience / Insurance / South Africa (Gross ZAR)

#		Surveys
1	16-20 Years	7	1,287,982 ZAR
2	20+ Years	13	1,229,437 ZAR
3	12-16 Years	5	1,103,200 ZAR
4	8-12 Years	18	847,067 ZAR
5	4-8 Years	18	676,922 ZAR
6	2-4 Years	8	629,354 ZAR
7	0-1 Year	3	424,448 ZAR
8	1-2 Years	2	398,835 ZAR

Age / Insurance / South Africa (Gross ZAR)

#		Surveys
1	61-65	1	1,780,122 ZAR
2	46-50	8	1,392,264 ZAR
3	41-45	7	1,337,379 ZAR
4	36-40	9	955,009 ZAR
5	31-35	13	836,090 ZAR
6	n/a	15	706,194 ZAR
7	26-30	15	662,286 ZAR
8	21-25	3	614,718 ZAR
9	51-55	1	495,799 ZAR
10	56-60	2	223,201 ZAR

Work Type / Insurance / South Africa (Gross ZAR)

#		Surveys
1	Self Employed	2	1,121,495 ZAR
2	Permanent	68	898,294 ZAR
3	Part Time	1	493,970 ZAR
4	Contract	3	417,130 ZAR

Cities / Insurance / South Africa (Gross ZAR)

#		Surveys
1	eThekwini	2	1,452,638 ZAR
2	Msunduzi	2	1,009,895 ZAR
3	Johannesburg	37	1,000,747 ZAR
4	Emalahleni	1	945,861 ZAR
5	--Other--	2	900,123 ZAR
6	Cape Town	21	744,614 ZAR
7	Ekurhuleni	2	686,070 ZAR
8	Tshwane	4	561,662 ZAR
9	Mangaung	1	497,629 ZAR
10	Nelson Mandela Bay Metro	2	309,188 ZAR

Careers / Insurance / South Africa (Gross ZAR)

#		Surveys
1	Life Insurance	6	1,694,135 ZAR
2	General Insurance	6	1,114,177 ZAR
3	Health Insurance	3	1,051,974 ZAR
4	Insurance	15	887,317 ZAR
5	Insurance Broker	13	837,920 ZAR
6	Insurance Adjuster	2	826,943 ZAR
7	Commercial Insurance	5	719,001 ZAR
8	Insurance Agent	2	708,024 ZAR
9	Other Insurance Career	14	691,558 ZAR
10	Risk Management Insurance	3	633,013 ZAR
11	Insurance Underwriter	4	594,594 ZAR
12	Insurance Sales	1	226,860 ZAR

People's individual salary examples (surveys)

Senior Manager

Posted 15 June 2022
Key knowledge and tasks

"Dispute resolution
law
staff supervisions
management."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Masters Degree	16-20 Years	Expert	1,656,400 ZAR

Actuarial Analyst

Posted 04 January 2022
Key knowledge and tasks

"SQL coding experience used for specific data extraction task. Intermediate to advance excel knowledge. Quarterly report production and summary write-up done."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Bachelors Degree	2-4 Years	Intermediate	831,400 ZAR

Business Development Manager

Posted 19 March 2021
Key knowledge and tasks

"Get insurance brokers to develop their business practice and optimize opportunities."

City	Education	Experience	Knowledge	Gross salary / year
Ekurhuleni	High School	4-8 Years	n/a	813,600 ZAR

Financial Advisor

Posted 13 October 2020
Key knowledge and tasks

"Financial Advice, Insurance Sales, Key Individual, Management, Training, Certificate in Financial Planning, Certificate in Portfolio Analysis and Investment Management."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Some College	20+ Years	n/a	1,103,700 ZAR

Business Development Manager

Posted 30 May 2020
Key knowledge and tasks

"Sales distribution manager."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Bachelors Degree	12-16 Years	n/a	932,000 ZAR

Communication Specialist

Posted 09 March 2020
Key knowledge and tasks

"Prepares written material for publication by liaising with key article sources. Reads copy to detect errors in spelling, punctuation, and syntax and verifies facts, dates and statistics. Rewrites or modifies copy to clarify meaning and to conform to publication's style and editorial policy. Marks copy for typesetter, using standardised code to indicate how type should be set. Reads galley and page proofs to detect errors. Initiates or replies to correspondence regarding material published or being considered for publication. May oversee and administer all financial matters related to the publication."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	High School	12-16 Years	n/a	396,100 ZAR

Franchise Director

Posted 24 September 2019
Key knowledge and tasks

"Run my own franchise, servicing independent advisors for a prominent life Assurer."

City	Education	Experience	Knowledge	Gross salary / year
eThekwini	Bachelors Degree	20+ Years	n/a	2,703,600 ZAR

General Manager Sales

Posted 05 September 2019
Key knowledge and tasks

"Profitability
Growth
Client Relationship
Budget
Forecast
Reporting
Strategy."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Bachelors Degree	20+ Years	n/a	1,220,700 ZAR

Branch Manager

Posted 29 July 2019
Key knowledge and tasks

"Branch manager. Pension fund administration, life insurance, medical aid, credit life, short term insurance, investments, annuities."

City	Education	Experience	Knowledge	Gross salary / year
Emalahleni	Bachelors Degree	12-16 Years	n/a	946,200 ZAR

Adjustet

Posted 16 July 2019
Key knowledge and tasks

"Special claims fraud claims."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Some College	8-12 Years	n/a	1,351,800 ZAR

Actuary

Posted 12 February 2019
Key knowledge and tasks

"Pricing and product development."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Bachelors Degree	8-12 Years	n/a	1,554,500 ZAR

Director

Posted 30 January 2019
Key knowledge and tasks

"Risk Management, Product Development, Reporting, Pricing, Facility Management."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Some College	20+ Years	n/a	1,419,400 ZAR

Personal Assistant

Posted 28 January 2019
Key knowledge and tasks

"CLIENT LIAISON ADMINASTATIVE JOBS GENERAL."

City	Education	Experience	Knowledge	Gross salary / year
Tshwane	High School	20+ Years	n/a	244,900 ZAR

Health Care Consultant

Posted 23 January 2019
Key knowledge and tasks

"New business, portfolio management,."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Some College	16-20 Years	n/a	546,100 ZAR

Project Manager

Posted 21 January 2019
Key knowledge and tasks

"I coordinate internal IT projects, as well as new client & new supplier integration projects from contract signature to go-live delivery. The core elements are about organising people and time resources, and seeing the project through from inception to completion."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Bachelors Degree	2-4 Years	n/a	308,200 ZAR

Team Leader

Posted 10 January 2019
Key knowledge and tasks

"Supervise a team of administrators."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	High School	8-12 Years	n/a	416,300 ZAR

Compliance Officer

Posted 07 December 2018
Key knowledge and tasks

"Compliance, governance and Risk Management."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Masters Degree	8-12 Years	n/a	798,800 ZAR

Broker

Posted 13 November 2018
Key knowledge and tasks

"Worked at kaap agri as buyer for 4 years. Working as an insurance broker now."

City	Education	Experience	Knowledge	Gross salary / year
--Other--	Some College	8-12 Years	n/a	1,493,500 ZAR

Paraplanner

Posted 09 October 2018
Key knowledge and tasks

"Paraplanner, investments, life cover,."

City	Education	Experience	Knowledge	Gross salary / year
Cape Town	Some College	20+ Years	n/a	743,700 ZAR

Claims Manager

Posted 13 August 2018
Key knowledge and tasks

"Admin, Client Liaison, Supplier Liaison, Insurer Liaison."

City	Education	Experience	Knowledge	Gross salary / year
Msunduzi	Bachelors Degree	4-8 Years	n/a	239,200 ZAR

Client Executive

Posted 06 July 2018
Key knowledge and tasks

"Insurance broking."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Masters Degree	8-12 Years	n/a	1,134,700 ZAR

Consultant Actuary

Posted 09 January 2018
Key knowledge and tasks

"I am an actuary employed by a consultancy to implement IFRS 17 for our clients."

City	Education	Experience	Knowledge	Gross salary / year
Johannesburg	Doctorate Degree	20+ Years	n/a	2,453,400 ZAR

Actuarial Support And Product Development Specialist Technician

Posted 05 September 2017
Key knowledge and tasks

"Product development for long term insurance company
Actuarial calculations and model building."

City	Education	Experience	Knowledge	Gross salary / year
Tshwane	Bachelors Degree	2-4 Years	n/a	577,700 ZAR

INSURANCE / SALARY SOUTH AFRICA

74