Claims Manager Salary

Claims Managers in the United States with more than 10 years of experience in their profession represent just below two-thirds of Claims Managers. Salaries average out to around $72K annually and spread from $40K to $107K per year. Total cash compensation to Claims Managers ranges from $40K on the lower end to $107K on the higher end; the final number includes potential for approximately $12K each from bonuses and profit sharing in exceptional cases. Location is the biggest factor affecting pay for this group, followed by years of experience. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to the larger part. Women make up a slight majority of Claims Managers (59 percent) survey respondents. Job satisfaction for Claims Managers is high. The information for this snapshot was generated by responses to the PayScale salary survey.

$43,435 - $101,772

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$10.26 - $31.81

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$43,435 - $101,772  
   
Bonus
$0.00 - $12,299  
Profit Sharing
$1,226 - $11,745  
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).
)
$40,471 - $106,528  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 645
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25$50$75
Hourly Rate
$10.26 - $31.81  
   
Overtime
$13.00 - $45.20  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$0.00 - $12,299  
   
Profit Sharing
$1,226 - $11,745  
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).
)
$40,471 - $106,528  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 57
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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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Survey results imply that Claims Managers put a diverse skill set to use. Most notably, facility with Insurance, Project Management, and Litigation Case Management are correlated to pay that is significantly above average, leading to increases of 29 percent, 28 percent, and 24 percent, respectively. Those listing Customer Service and Customer Relationship Management as skills, on the other hand, should be prepared for drastically lower pay. Claim Handling and People Management are correlating skills — those who know the former usually know the latter.

Pay by Experience Level for Claims Manager

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


Claims Managers generally obtain higher compensation for more plentiful past experience. Those in the early stages of their career can expect to make around $50K; however, individuals with five to 10 years of experience bring in $65K on average — a distinctly larger sum. After working for 10 to 20 years, Claims Managers make a median salary of $76K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $83K.

Related Job Salaries

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Experience Affects Claims Manager Salaries



National Average
$71,000

Mid-Career
up arrow 9%


Skills That Affect Claims Manager Salaries

Insurance
up arrow 29%

Project Management
up arrow 28%

Litigation Case Management
up arrow 24%



Negotiation
up arrow 6%

Claim Handling
0%

National Average
$71,000

Customer Relationship Management (CRM)
up arrow 26%

Customer Service
up arrow 30%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 148 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
2%
1-4 years
14%
5-9 years
20%
10-19 years
33%
20 years or more
31%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 80%
vision benefits Vision: 68% employee benefits None: 9%
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