Salary developments since 1950
The following diagram presents the annual salary rate increases since the association’s founding.
Phase one covers the years 1951 to 1965 with an average rate increase of approx. 6.8 % per annum. This reflects the rapid insurance industry expansion resulting from the fast reconstruction of the German economy after the Second World War.
Phase two covers 1966 to 1980 when the pay scale increased on average by 8.1 % per annum. This high rate is the result of the re-distribution ideology which dominated the socio-political discussion at the time and lead to excessive burdens on the economy; a trend that could not be ignored by the insurance industry.
During phase three, from 1981 to 1992, the annual increase in pay scales was only around 4.0 %. This significant reduction compared to phase two reflected the lower growth rates of the German economy and the associated levelling off of the insurance industry growth rate.
During phase four, from 1993 until 2009, the annual increases fluctuated by only 2.0 %. These years are characterised by a stagnant economy and growing competition in the insurance industry.