Salary study 2023: Top earners in the insurance industry

Salary study 2023: Top earners in the insurance industry

According to a report by www.dasinvestment.com, the employer rating portal Kununu evaluated more than 566,000 salary details from full-time employees. Over 500,000 of these are from 2022. It has been shown that product managers in the insurance industry are the top earners, with an average gross annual salary of 72,617 euros. Project managers and human resources managers also receive above-average salaries from insurers at 70,097 euros and 66,860 euros, respectively. Software developers and marketing managers also earn well at 65,392 euros and 60,904 euros, respectively. Commercial employees receive the lowest average salaries at just 43,040 euros.

These salary differences can have various effects on the labor market, consumers and the insurance industry. On the one hand, the high salaries of product managers and project managers could lead to more skilled workers choosing these professions in the insurance industry, which could further intensify industry competition and lead to a brain drain to other industries.

In addition, the comparatively lower salaries of software developers and marketing managers in the insurance industry could lead to these professional groups increasingly moving towards better-paying industries such as the automotive industry. In the long term, this could lead to bottlenecks in these areas and a shortage of qualified specialists in the insurance industry.

Overall, pay disparities in the insurance industry show that this industry may face challenges in retaining and recruiting qualified professionals, particularly in career fields where other industries offer more attractive earning opportunities. In the long term, this could affect the competitiveness and innovative strength of the insurance industry.

It remains to be seen how insurance companies will react to this development and whether adjustments will be made to salary structures and offers in order to ensure the industry's attractiveness as an employer in the long term.