Insurance Salary in Singapore

Singapore   Singapore  • Change Location

Average gross salary for Insurance GROSS SALARY
SGD 105,278
Average gorss salary (USD) for Insurance GROSS SALARY (USD)
US$ 82,193
Average net salary for Insurance NET SALARY
SGD 89,450
The most typical salary for Insurance MOST TYPICAL GROSS
SGD 35,644
  Updated: 11 Oct 2019   Diff. gross vs. net: 15%
  Salary entries: 57

Insurance Earnings in Singapore

Average salary for Insurance in Singapore is SGD 105,278 (Gross). All data are based on our survey (57 individual salary entries). Average take home earning is SGD 89,450 (Net). The most typical salary is SGD 35,644 (Gross).

Earning percentages

Percentage of people earn this salary or more
12 % SGD 272,857
14 % SGD 200,000
28 % SGD 151,333
58 % SGD 73,566
93 % SGD 35,644
98 % SGD 26,666
100 % SGD 10,001

Earning by careers

Career Avg. gross salary (USD) Salary entries
Insurance Underwriter SGD 129,866 US$ 101,546 12
Insurance Agent SGD 112,428 US$ 89,544 07
Life Insurance SGD 112,085 US$ 85,901 07
Insurance Broker SGD 162,583 US$ 129,083 06
Insurance SGD 58,600 US$ 45,504 05
Commercial Insurance SGD 104,250 US$ 77,459 04
General Insurance SGD 82,689 US$ 64,169 04
Health Insurance SGD 60,666 US$ 45,842 03
Risk Management Insurance SGD 110,000 US$ 88,472 02
Insurance Sales SGD 65,000 US$ 51,001 01

Earning by cities

City Avg. gross salary (USD) Salary entries
Singapore SGD 105,278 US$ 82,193 57

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Salary entries from individual employees for Insurance in Singapore

Below is the list of 10 individual salary profiles - all added on this website.

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MANAGER


 Posted: 11 Oct 2019

Bachelors Degree, 4-8 years: "Underwriting, reporting, liasing with brokers."
Individual GROSS salary:
SGD 100,000
US$ 75,377

CONTACT CENTRE CONSULTANT


 Posted: 23 Jul 2019

Some College, 12-16 years: "To manage all the inbound calls."
Individual GROSS salary:
SGD 37,200
US$ 28,040

MANAGER


 Posted: 26 Jun 2019

Bachelors Degree, 16-20 years: "Handle clients and advise on general insurance."
Individual GROSS salary:
SGD 113,756
US$ 85,746

UNDERWRITER


 Posted: 28 Mar 2019

Masters Degree, 4-8 years: "Underwriting Managing countries and key clients."
Individual GROSS salary:
SGD 150,000
US$ 113,066

FINANCIAL PLANNER


 Posted: 22 Aug 2018

High School, 8-12 years: "Sales of financial products."
Individual GROSS salary:
SGD 60,000
US$ 45,226

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OPERATIONS EXEC


 Posted: 04 Feb 2018

Some College, 4-8 years: "Insurance enrollment processing for new business."
Individual GROSS salary:
SGD 47,000
US$ 35,427

ANALYST


 Posted: 02 Dec 2017

Bachelors Degree, 0-1 year: "Provide consulting services to insurance and financial regulator clientele."
Individual GROSS salary:
SGD 39,600
US$ 28,080

BROKER


 Posted: 28 Aug 2017

Bachelors Degree, 2-4 years: "Insurance Broking - self explanatory."
Individual GROSS salary:
SGD 45,500
US$ 32,263

INSURANCE UNDERWRITER


 Posted: 07 May 2017

Bachelors Degree, 12-16 years: "Underwriting, risk management, survey."
Individual GROSS salary:
SGD 130,000
US$ 92,181

INSURANCE


 Posted: 16 Apr 2017

Bachelors Degree, 12-16 years: "Insurance for own self brokerage."
Individual GROSS salary:
SGD 10,001
US$ 7,092

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  SALARY BY LEVEL   INSURANCE   SINGAPORE

Singapore •  Change Location

Salary levels Avg. gross salary (USD) Avg. gross salary   Salary entries
More US$ 217,971 SGD 272,857
07
205K US$ 157,699 SGD 200,000
01
175K US$ 136,112 SGD 170,000
01
165K US$ 126,160 SGD 160,000
01
155K US$ 114,947 SGD 151,333
06
125K US$ 95,914 SGD 120,000
04
135K US$ 92,181 SGD 130,000
01
115K US$ 85,746 SGD 113,756
01
105K US$ 76,604 SGD 100,000
04
95K US$ 68,257 SGD 96,000
01
75K US$ 57,924 SGD 73,566
06
65K US$ 48,340 SGD 61,750
04
55K US$ 38,718 SGD 50,133
03
45K US$ 34,773 SGD 45,875
04
35K US$ 27,422 SGD 35,644
09
25K US$ 21,089 SGD 26,666
03
15K US$ 7,092 SGD 10,001
01

  SALARY BY GENDER   INSURANCE   SINGAPORE

Singapore •  Change Location

Avg. gross salary (USD) Avg. gross salary   Salary entries
Men US$ 102,207 SGD 130,415 29
Women US$ 75,913 SGD 98,337 16
N/A US$ 42,200 SGD 53,783 12

  SALARY BY EDUCATION   INSURANCE   SINGAPORE

Singapore •  Change Location

Avg. gross salary (USD) Avg. gross salary   Salary entries
Doctorate Degree US$ 96,079 SGD 120,000 01
Masters Degree US$ 121,459 SGD 155,333 09
Bachelors Degree US$ 77,638 SGD 99,435 35
Some College US$ 54,402 SGD 70,260 10
High School US$ 117,233 SGD 150,000 02

Insurance workers holding Masters Degree degrees enjoy the highest average gross salaries in Singapore. With an earned Masters Degree, they grosses SGD 155,333. While Insurance workers with Some College education earn the least, with an average gross income of SGD 70,260. This is 123.26% lower of what Masters Degree degree holders earn.


  SALARY BY EXPERIENCE   INSURANCE   SINGAPORE

Singapore •  Change Location

Avg. gross salary (USD) Avg. gross salary   Salary entries
20+ Years US$ 147,895 SGD 185,800 10
16-20 Years US$ 126,792 SGD 164,939 04
12-16 Years US$ 77,718 SGD 100,775 08
8-12 Years US$ 82,334 SGD 107,111 09
4-8 Years US$ 72,771 SGD 92,600 13
2-4 Years US$ 31,229 SGD 40,562 08
1-2 Years US$ 28,055 SGD 36,250 04
0-1 Year US$ 28,080 SGD 39,600 01

Insurance workers in Singapore with more years of work experience outperform their counterparts with less experience. Workers with 20+ Years of experience earn a gross average of SGD 185,800 compared to SGD 36,250 for their counterparts with 1-2 Years of experience. The difference between workers with 20+ Years of experience and 1-2 Years is 427.16%.


  SALARY BY AGE   INSURANCE   SINGAPORE

Singapore •  Change Location

Avg. gross salary (USD) Avg. gross salary   Salary entries
57-62 US$ 189,239 SGD 240,000 01
51-56 US$ 177,795 SGD 222,500 04
45-50 US$ 104,531 SGD 132,000 05
39-44 US$ 102,432 SGD 131,775 10
33-38 US$ 67,210 SGD 87,466 09
27-32 US$ 76,813 SGD 99,421 14
22-26 US$ 25,473 SGD 34,300 02
N/A US$ 42,200 SGD 53,783 12
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  SALARY BY CAREER   INSURANCE   SINGAPORE

Singapore •  Change Location

# Avg. gross salary (USD) Avg. gross salary   Salary entries
1. Insurance Broker US$ 129,083 SGD 162,583 06
2. Insurance Underwriter US$ 101,546 SGD 129,866 12
3. Insurance Agent US$ 89,544 SGD 112,428 07
4. Life Insurance US$ 85,901 SGD 112,085 07
5. Risk Management Insurance US$ 88,472 SGD 110,000 02
6. Commercial Insurance US$ 77,459 SGD 104,250 04
7. General Insurance US$ 64,169 SGD 82,689 04
8. Insurance Sales US$ 51,001 SGD 65,000 01
9. Other Insurance Career US$ 50,726 SGD 64,600 06
10. Health Insurance US$ 45,842 SGD 60,666 03
11. Insurance US$ 45,504 SGD 58,600 05

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In Singapore economy, Insurance Broker is on the top list of highest earners, earning an average gross salary of SGD 162,583. Insurance Underwriter and Insurance Agent follow, earning SGD 129,866 and SGD 112,428, respectively. Insurance earn a gross annual average of SGD 58,600, while Health Insurance earn SGD 60,666. The gap between the lowest and the highest paid careers is 183.67%.


  SALARY BY JOB TYPE   INSURANCE   SINGAPORE

Singapore •  Change Location

Avg. gross salary (USD) Avg. gross salary   Salary entries
Permanent US$ 86,135 SGD 110,317 50
Contract US$ 28,247 SGD 36,000 01
Self Employed US$ 58,340 SGD 74,833 06
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  SALARY BY CITY   INSURANCE   SINGAPORE

Singapore •  Change Location

# Avg. gross salary (USD) Avg. gross salary   Salary entries
1. Singapore Insurance in Singapore US$ 82,193 SGD 105,278 57

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  SALARY BY COUNTRY    INSURANCE

# Avg. gross salary (USD) Avg. gross salary   Salary entries
1. Germany Germany Insurance in Germany US$ 101,681 EUR 80,818 11
2. Australia Australia Insurance in Australia US$ 91,588 AU$ 104,523 34
3. United Kingdom United Kingdom Insurance in United Kingdom US$ 87,047 GBP 58,142 50
4. Singapore Singapore US$ 82,193 SGD 105,278 57
5. Hong Kong Hong Kong Insurance in Hong Kong US$ 77,064 HKD 599,325 38
6. United States United States Insurance US$ 75,340 US$ 75,340 408
7. New Zealand New Zealand Insurance in New Zealand US$ 52,584 NZ$ 67,759 22
8. Indonesia Indonesia Insurance in Indonesia US$ 31,731 IDR 391,051,025 20
9. Malaysia Malaysia Insurance in Malaysia US$ 28,902 MYR 98,277 91

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