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Claims Manager Salary

Claims Managers who are practiced in their profession and carry more than 10 years of experience make up just under two-thirds of Claims Managers. Pay fluctuates from $41K to $104K per year, but expected earnings average $71K per year. Total cash compensation for Claims Managers runs from $41K to $104K depending on bonuses that can occasionally exceed $12K and profit sharing that can reach almost $16K. Residence and career length each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Job satisfaction for Claims Managers is high. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$43,095 - $99,154
(Median)
$43K
$71K
$99K
MEDIAN: $70,716
10%
50%
90%

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$10.28 - $32.45
(Median)
$10
$18
$32
MEDIAN: $17.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$43,095 - $99,154  
   
Bonus
$0.00 - $11,863  
Profit Sharing
$1,236 - $16,483  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$40,709 - $103,981  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 594
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$10.28 - $32.45  
   
Overtime
$12.72 - $45.69  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$0.00 - $11,863  
   
Profit Sharing
$1,236 - $16,483  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$40,709 - $103,981  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 49

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Job Description for Claims Manager

A claims manager works in the insurance industry to coordinate and expedite the processing of customers' claims. The claims manager usually holds a management position with oversight for claims processes, helping ensure that any instances of misappropriation or fraud do not occur.

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Claims Manager Tasks

  • Investigates out of guidelines inquiries, and ensures compliance to procedures, proper services and settlement of claims.
  • Report metrics, and assists senior management in developing and establishing policies and procedures.
  • Manages the claims activity for a business unit.
  • Oversees investigations and consultations with legal counsel.

Claims Manager, Insurance Job Listings

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Claims Managers report using a wide range of professional skills. Most notably, facility with Insurance, Litigation Case Management, and Project Management are correlated to pay that is significantly above average, leading to increases of 32 percent, 26 percent, and 21 percent, respectively. Those listing Operations Management as a skill should be prepared for drastically lower pay. Customer Service and Customer Relationship Management also typically command lower compensation. Aptitude in Claim Handling tends to also indicate an understanding of People Management.

Pay by Experience Level for Claims Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience is an important factor influencing the compensation of Claims Managers. Salaries for the relatively untried average out to around $50K, but survey participants with five to 10 years of experience earn a significantly higher median of $64K. People with 10 to 20 years of experience make an average of about $76K in this role. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $82K.

Related Job Salaries

United States (change)

Experience Affects Claims Manager Salaries

Late-Career
up arrow 15%


National Average
$71,000

Mid-Career
up arrow 9%

Entry-Level
up arrow 29%

Skills That Affect Claims Manager Salaries

Insurance
up arrow 32%

Litigation Case Management
up arrow 26%

Project Management
up arrow 21%


Claim Handling
up arrow 2%

National Average
$71,000

Customer Relationship Management (CRM)
up arrow 25%

Customer Service
up arrow 29%

Operations Management
up arrow 31%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 147 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

Less than 1 year
1%
1-4 years
13%
5-9 years
21%
10-19 years
33%
20 years or more
31%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 79%
vision benefits Vision: 68% employee benefits None: 9%