The GTA Insurance Job Market is Terrible and Insurers are not willing to paying fair wages/salaries
I'm not sure if anyone has experienced this, but I'm currently looking for a new claims adjuster role in the Greater Toronto Area (GTA) and one thing I've noticed is the salary ranges are stretched too much. I am a seasoned professional with 14 years of experience, CIP designation, provincial licensed and a wide array of claims experience from high net worth claims to product liability and commercial autofleets. Someone like myself shouldn't have an issue finding work but it's the latter.
I've noticed that certain companies looking for claims professionals are not willing to pay higher or fair market value of certain claims roles. For example, Aviva in Oakville is hiring for a commercial auto specialist in their GCS department and the pay range is $60-70,000k. For a similar job working downtown Toronto at a large commercial insurer, I was making well above $80,000 annually. I feel that Aviva like many other Insurers are not in line with the job market when it comes to salary expectations vs role requirements.
Recently I applied for one job and the salary ranged from $49,000 all the way to $90,000 and I received a call for the role. During my call with the initial screening the recruiter mentioned that this role is more entry-level however, they need someone that's experienced and can provide proper guidance for their insureds. I know that I am at the top end of the range given my experience, qualifications, and licensing. What I don't understand is why they post for a role that's mid to senior level and state it's entry-level to try and justify paying a prospective employee less. It's like going into a Rolex boutique and asking to buy a sub mariner but only willing to pay the price of a Casio G Shock.
I'm not saying I'm the best adjuster, what I'm saying is I'm experienced and I know how to do my job and I do it well. Before, I was told I needed more experience for certain roles. Now that I have the experience, I feel that it's totally irrelevant nowadays and it doesn't matter. Companies want to pay the absolute lowest they can to recruit talent. I feel that if insurers want the talent, they need to pay the premium .