Account Manager, Insurance Salary

Insurance Account Managers in the United States tend to have a good amount of experience under their belt — a little more than half have more than 10 years in the field. While pay runs from $33K to $68K per year, median earnings come to $47K per year. In the world of Insurance Account Managers, overall cash allowance can occasionally include more than $6K from bonuses and, in some exceptional cases, $5K from profit sharing, causing incomes to vary widely between $33K and $68K. Geography is the biggest factor affecting pay for this group, followed by the company and years of experience. Job satisfaction for Insurance Account Managers is high. Female Insurance Account Managers far outnumber their male contemporaries among survey respondents. Health benefits are not enjoyed by everyone in this line of work, and around one in five lack any coverage at all. Medical benefits are reported by a fair number and dental coverage is claimed by a majority. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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$34,174 - $68,183
$34K
$47K
$68K
MEDIAN: $47,421
10%
50%
90%

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$13.62 - $25.07
$14
$18
$25
MEDIAN: $18.28
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$23K$46K$69K
Salary
$34,174 - $68,183  
   
Bonus
$510 - $5,741  
Profit Sharing
$594 - $4,894  
Commission
$0.00 - $10,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$33,112 - $68,083  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 639
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$13$26$39
Hourly Rate
$13.62 - $25.07  
   
Overtime
$20.00 - $37.40  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$26K$52K$78K
Bonus
$510 - $5,741  
   
Commission
$0.00 - $10,000  
Profit Sharing
$594 - $4,894  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$33,112 - $68,083  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 147

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United States (change)

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Job Description for Account Manager, Insurance

Account managers in the insurance industry are found in a variety of insurance firms, from small insurance companies to large nationwide dealers. Most positions do not have defined educational requirements, but many do list a bachelor’s degree as being preferred. However, many positions require relevant experience in the field, though the exact amount varies by company and position. Other requirements include licenses specific to the type of insurance practice and location of the job.

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Account Manager, Insurance Tasks

  • Review, manage and grow assigned portfolio of accounts.
  • Send, receive, and file paperwork and forms and complete associated administrative tasks.
  • Update and maintain files, databases, and contact lists.
  • Provide information on updates and revisions to regulations and policies.
  • Work with clients and producers to update and audit accounts.

Account Manager, Insurance Job Listings

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Popular Employer Salaries for Account Manager, Insurance


Although Hub International, Inc. leads the field in pay with a median salary of $52K, employees there receive a wide spread of salaries, from $35K on the low end all the way up to $78K at the top.

Offering only $34K on average, State Farm Insurance Company seems to pay the least. Moreover, the pay scale seems pretty narrow there; employees make $24K on the lower end and $57K on the higher end.

Popular Skills for Account Manager, Insurance


Survey results imply that Insurance Account Managers put a diverse skill set to use. Most notably, skills in Customer Relationship Management, Account Management, Insurance, and Customer Relations are correlated to pay that is above average. Those listing Oral / Verbal Communication as a skill should be prepared for drastically lower pay. Insurance License and Microsoft Excel also typically command lower compensation. Those educated in Customer Service tend to be well versed in Customer Relations.

Pay by Experience Level for Account Manager, Insurance

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Insurance Account Managers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Survey participants with less than five years' experience pocket $41K on average, but those with five to 10 years of experience enjoy a much bigger median of $47K. Insurance Account Managers who work for 10 to 20 years in their occupation tend to earn about $49K. After two decades in the workforce, the average Insurance Account Manager generally earns more than ever; median pay for this group is estimated at $53K.

Pay Difference by Location

National Average: $46,750

Larger city markers indicate a job is popular in that location.

For those looking to make money, Insurance Account Managers in New York enjoy an exceptional pay rate, 38 percent above the national average. Insurance Account Managers will also find cushy salaries in San Francisco (+28 percent), Houston (+22 percent), Chicago (+21 percent), and Dallas (+17 percent). The lowest-paying market is Charlotte, which sits 13 percent below the national average.

Related Job Salaries

Key Stats for Account Manager, Insurance

Gender

Female
89 %
Male
11 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 124 votes.
Less than 1 year
2%
1-4 years
25%
5-9 years
20%
10-19 years
28%
20 years or more
25%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Account Manager, Insurance Salaries

▲14%

▲5%

▼0%

National Average
$47,000

▼12%

Skills That Affect Account Manager, Insurance Salaries

Customer Relationship Management (CRM)
▲9%


Insurance
▼0%

National Average
$47,000



▼4%

Microsoft Excel
▼12%

Insurance License
▼20%

Oral / Verbal Communication
▼29%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 124 votes.

Gender

Female
89 %
Male
11 %

Years of Experience

Less than 1 year
2%
1-4 years
25%
5-9 years
20%
10-19 years
28%
20 years or more
25%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 56%
vision benefits
Vision: 47%
dental benefits
None: 21%
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