The highest average salaries go to Senior Underwriters, who bring in close to $87K per year, though Insurance Underwriters are not far behind at $71K along with Senior Claims Adjusters (around $66K) and Insurance Claims Adjusters ($54K). Liberty Mutual Insurance Group hands out some of the smallest paychecks to Insurance Sales Representatives (about $32K on average).
Years of Experience
Respondents who have been working for five to nine years make approximately $71K annually on average. When we consider tenure, a substantial portion of employees (32 percent) have been working for one to four years and make about $58K per year on average.
When it comes to location, the highest average paycheck (around $80K annually) can be spotted in the company's headquarter city of Boston, Mass.; Portsmouth, N.H. ($77K), Seattle, Wash. (approximately $75K), and Dover, N.H. ($75K) are the next top-paying cities. Those interested in increasing earning potential should avoid the city of Dallas, Texas — at $67K, salaries are some of the lowest in the country. By state, Massachusetts offers the highest pay at approximately $76K per year.
Certifications and Degrees
Certified Public Accountants are compensated at a much higher rate than non-authorized workers, bringing in close to around $95K annually. On average, salaries rise to $81K per year for accredited Risk Management Associates. It pays to have a Master of Business Administration (MBA), Finance at Liberty Mutual Insurance Group — these employees make the most at $126K annually.
The highest-paying skill to have in this role seems to be Project Management; employees claiming this as part of the toolbox earn a median of about $93K per year. Customer Service is regularly seen around here; slightly less than a fourth of those surveyed report it as a core competency. Claim Handling, Insurance, and Negotiation round out the set of key employee skills.
Benefits and Perks
Benefits packages do tend to lack paid time off; Liberty Mutual Insurance Group gives paid vacation days to two in five respondents and sick leave to one in seven respondents. With an eye toward the future, Liberty Mutual Insurance Group offers several choices in retirement planning such as a 401(k) plan and a company pension plan. Nearly all employees can count on health insurance, and a large number of employees have dental coverage as a benefit. Privileges also include life insurance, tuition reimbursement, and flexible hours.