Salary developments since 1950

The following diagram presents the annual salary rate increases since the association’s founding.

Salary Development since 1950
Salary Development since 1950

Phase one:

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:

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.

Phase three:

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.

Phase four:

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.