Account Manager, Insurance Salary

With a little over a half of Insurance Account Managers in the United States reporting more than 10 years of experience in the field, this area is heavily weighted toward experienced professionals. Pay ranges from $33K to $71K per year and averages out to $49K annually. Overall compensation packages to Insurance Account Managers range from $33K on the low end to $71K on the high end; this includes bonuses that peak near $7K and profit sharing that approaches $4K, with some high rollers snagging commissions as high as $15K. The most influential factor affecting pay for this group is geographic location, though the specific employer and years of experience have a (lesser) impact as well. Although approximately one in five lack health benefits of any kind, a strong majority do enjoy medical insurance, and the larger part get dental coverage, too. The majority of Insurance Account Managers claim high levels of job satisfaction. The numbers in this rundown were provided by PayScale's salary survey participants.
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$33,944 - $70,379
(Median)
$34K
$49K
$70K
MEDIAN: $48,695
10%
50%
90%

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$13.80 - $24.30
(Median)
$14
$18
$24
MEDIAN: $17.00
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$24K$48K$72K
Salary
$33,944 - $70,379  
   
Bonus
$289.73 - $7,411  
Profit Sharing
$302.01 - $4,055  
Commission
$0.00 - $15,205  
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).
)
$32,899 - $70,996  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 724
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$14$28$42
Hourly Rate
$13.80 - $24.30  
   
Overtime
$15.59 - $39.45  
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$28K$56K$84K
Bonus
$289.73 - $7,411  
   
Commission
$0.00 - $15,205  
Profit Sharing
$302.01 - $4,055  
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).
)
$32,899 - $70,996  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 154
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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

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

Account Manager, Insurance Job Listings

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Popular Employer Salaries for Account Manager, Insurance


Hub International, Inc. offers the highest compensation with a median salary of $53K.

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, Customer Relations, Insurance, and Sales 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. It is often found that people who know Customer Service are also skilled in Customer Relations.

Pay by Experience Level for Account Manager, Insurance

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


For Insurance Account Managers, more experience in the field does not usually mean bigger paychecks. The average beginner in this position makes around $41K, but folks who have been around for five to 10 years see a markedly higher median salary of $49K. The average pay reported by folks with 10 to 20 years of experience is around $51K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; an Insurance Account Manager with more than 20 years of experience can earn $54K on average.

Pay Difference by Location

National Average: $47,768

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

For Insurance Account Managers, San Francisco provides a pay rate that is 48 percent greater than the national average. Insurance Account Managers can also look forward to large paychecks in cities like New York (+29 percent), Chicago (+18 percent), Atlanta (+17 percent), and San Antonio (+14 percent). Falling short of the national average by 7 percent, the area with the worst salaries is Denver. Not at the bottom but still paying below the median are employers in Boston and Seattle (2 percent less).

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Experience Affects Account Manager, Insurance Salaries




National Average
$48,000


Skills That Affect Account Manager, Insurance Salaries

Customer Relationship Management (CRM)
up arrow 8%

National Average
$48,000

Customer Relations
up arrow 2%

Insurance
up arrow 3%

Account Management
up arrow 4%

Sales
up arrow 4%


Microsoft Excel
up arrow 13%

Insurance License
up arrow 21%

Oral / Verbal Communication
up arrow 30%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 123 votes.

Gender

Female
91 %
Male
9 %

Years of Experience

Less than 1 year
2%
1-4 years
22%
5-9 years
22%
10-19 years
30%
20 years or more
24%

Common Health Benefits

medical benefits
Medical: 77%
dental benefits
Dental: 60%
medical benefits
Vision: 48%
dental benefits
None: 20%
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