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What does an Insurance Accountant earn?
Insurance accountants typically earn an average salary of £55,200 per year in the UK. It is their role to offer clients advice related to their insurance policies. This may include analysing data, providing risk assessment, evaluating the cost of coverage and claims investigation. An insurance accountant can also choose to specialise in a particular area such as pension fund accounting, health insurance or casualty and property insurance.
How to earn more as an Insurance Accountant
To become an insurance accountant, you will need a degree in accountancy, business management, or insurance. Alternatively, you can go through a degree apprenticeship. To gain more expertise and earn higher wages, you could move into a specialised area, such as life insurance, or become a manager within an insurance firm. You also may choose to become self-employed or create your own insurance accounting business. The top earners in this field can make over £100,000 a year.
Min: £20,800.00 Max: £100,000.00
Average Insurance Accountant Salary in UK : £55,242.09
Read about Insurance Accountant salaries, related jobs and salary information across the UK
Insurance Accountant Salary data from the ONS
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Recommended Insurance Accountant Jobs in UK
Average Salary for Insurance Accountant compared to similar jobs
Related Jobs
View salaries for similar jobs.
| Job Title | UK Average |
|---|---|
| Trainee Accountant Salary in UK | £22,209.72 |
| Accountant and Auditor Salary in UK | £28,107.35 |
| General Ledger Accountant Salary in UK | £31,218.32 |
| Fixed Asset Accountant Salary in UK | £33,356.52 |
| Tax Preparer Salary in UK | £34,230.57 |
| Certified Accountant Salary in UK | £34,593.75 |
| Payroll Accountant Salary in UK | £34,980.55 |
| Chartered Accountant Salary in UK | £36,685.55 |
| Property Accountant Salary in UK | £36,861.41 |
| Accountant Salary in UK | £37,955.74 |
| Tax Accountant Salary in UK | £38,711.87 |
| Management Accountant Salary in UK | £41,248.39 |
| Forensic Accountant Salary in UK | £44,387.32 |
| Financial Accountant Salary in UK | £45,296.95 |
| Investment Accountant Salary in UK | £45,661.72 |
Salary by Region
Compare Insurance Accountant salaries across different regions
| Region | Salary |
|---|---|
| Scotland | £45,864.75 |
| East Midlands | £23,493.33 |
| Eastern | £52,525.64 |
| London | £62,520.00 |
| North West | £49,448.96 |
| South East | £58,870.71 |
| South West | £16,843.00 |
| West Midlands | £47,517.65 |
| Yorkshire and the Humber | £38,454.55 |
Annual Job Ads by Region
Understanding the Average Insurance Accountant Salary in the UK
As an Insurance Accountant in the UK, it's important to have a clear understanding of the average salary in this field. According to average Accounting salaries, the average salary for an Insurance Accountant in the UK is £55,200 per year. This figure can vary depending on factors such as experience, qualifications, and location.
Salary Expectations for Newly Qualified Insurance Accountant
If you're a newly qualified Insurance Accountant, you may be wondering what salary you can expect. To get a better idea, you can explore the current job market by conducting a job search specifically for Insurance Accountant positions. This will give you an insight into the salary range for entry-level roles in the industry.
Salaries for Experienced Insurance Accountant
For experienced Insurance Accountants in the UK, the salary range tends to be higher than that of their newly qualified counterparts. With a solid track record and expertise in the field, you can expect to earn a higher salary. The exact figures can vary, but the average salary for experienced Insurance Accountants in the UK is between £20,800 and £100,000 per year.
Creating an Insurance Accountant CV
When applying for Insurance Accountant roles, having a well-crafted CV is essential. It should highlight your relevant skills, qualifications, and experience in the insurance and accounting sectors. To help you create a professional and effective CV, you can use a CV template specifically designed for Insurance Accountants. This will ensure that your CV stands out to potential employers.
Career Development Opportunities for Insurance Accountant
As an Insurance Accountant, there are various career development opportunities available to you. Whether you want to specialize in a specific area of insurance accounting or progress into management roles, it's important to have a clear career path. To gain valuable insights and guidance on how to advance your career as an Insurance Accountant, you can seek career advice from industry professionals.
Comprehensive Compensation for Insurance Accountant
Aside from the base salary, Insurance Accountants in the UK may also receive comprehensive compensation packages. This can include benefits such as health insurance, pension plans, bonuses, and other incentives. The exact details of these compensation packages can vary depending on the employer and individual circumstances.
Strategies for Increasing Your Salary as an Insurance Accountant
If you're looking to increase your salary as an Insurance Accountant, there are several strategies you can employ. These include continuously updating your skills and qualifications, seeking additional certifications, taking on more responsibilities, and demonstrating your value to the organization. By consistently improving and showcasing your expertise, you can position yourself for salary advancements and promotions.
Professional Development and Earnings
Investing in your professional development as an Insurance Accountant can have a direct impact on your earnings. By attending industry conferences, workshops, and training programs, you can enhance your knowledge and skills, making you more valuable to employers. This, in turn, can lead to higher salary offers and better career opportunities.
Capitalizing on Extra Hours and Duties
As an Insurance Accountant, there may be opportunities to take on extra hours or duties that can contribute to your overall earnings. This can include participating in special projects, assisting with audits, or providing financial analysis for different departments within the organization. By being proactive and willing to take on additional responsibilities, you can potentially increase your salary and demonstrate your commitment to your role.
