As of April 01, 2025, the average annual salary for a VP of Claims in Union, NJ is $241,339. Salary.com reports that pay typically ranges from $211,100 to $255,725, with most professionals earning between $183,568 and $268,823.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $255,725 | $21,310 | $4,918 | $123 |
| Average | $241,339 | $20,112 | $4,641 | $116 |
| 25th Percentile | $211,100 | $17,592 | $4,060 | $101 |
An entry-level VP of Claims with under 1 year experience makes about $222,835. With less than 2 years of experience, a mid-level VP of Claims makes around $225,543. After 2-4 years, the VP of Claims pay rises to about $227,799. Those senior VP of Claims with 5-8 years of experience earn roughly $231,410, and those VP of Claims having 8 years or more experience are expected to earn about $235,923 on average.
| Levels | Salary |
|---|---|
| Entry Level VP of Claims | $222,835 |
| Intermediate Level VP of Claims | $225,543 |
| Senior Level VP of Claims | $227,799 |
| Specialist Level VP of Claims | $231,410 |
| Expert Level VP of Claims | $235,923 |
| Entry Level | 5% |
| Mid Level | 6% |
| Senior Level | 7% |
| Top Level | 9% |
| Experienced | 11% |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Leadership: Knowledge of and ability to employ effective strategies that motivate and guide other members within our business to achieve optimum results.
Claim Handling: involved in managing a claim from the start through to settlement, making decisions on the extent and validity of a claim, and checking for any potential fraudulent activity.
Prospecting: Prospecting is the first stage of the geological analysis (second – exploration) of a territory. It is the physical search for minerals, fossils, precious metals or mineral specimens, and is also known as fossicking. Prospecting is a small-scale form of mineral exploration which is an organised, large scale effort undertaken by commercial mineral companies to find commercially viable ore deposits. Prospecting is physical labour, involving traversing (traditionally on foot or on horseback), panning, sifting and outcrop investigation, looking for signs of mineralisation. In some areas a prospector must also make claims, meaning they must erect posts with the appropriate placards on all four corners of a desired land they wish to prospect and register this claim before they may take samples. In other areas publicly held lands are open to prospecting without staking a mining claim.
| Skill | Salary | Demand |
|---|---|---|
|
Team Management
|
$294,434 |
22%
|
|
Analytical Skills
|
$270,300 |
12%
|
|
Initiative
|
$267,887 |
11%
|
|
Leadership
|
$267,887 |
11%
|
|
Written Communication
|
$265,473 |
10%
|
|
Claim Handling
|
$263,060 |
9%
|
