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Account Manager, Insurance Salary (United States)

Just below three-fifths of Insurance Account Managers in the United States have been in the field for more than 10 years. Pay can fall anywhere from $33K to $71K per year, but median earnings come to around $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 $8K and profit sharing that approaches $4K, with some high rollers snagging commissions as high as $10K. Geography is the biggest factor affecting pay for this group, followed by tenure. Job satisfaction is high and work is enjoyable for most Insurance Account Managers. A strong majority enjoy medical while a majority get dental coverage. Vision coverage is also available to slightly less than one-half. The information for this snapshot was generated by responses to the PayScale salary survey.
Account Manager, Insurance Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$33,450 - $71,366
(Median)
33K
40K
49K
59K
71K
MEDIAN: $49,348
10%
25%
50%
75%
90%
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Account Manager, Insurance Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$14.06 - $25.08
(Median)
14
18
21
25
MEDIAN: $18.00
10%
50%
75%
90%
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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Salary
$33,450 - $71,366  
   
Bonus
$50.00 - $7,657  
Profit Sharing
$237.55 - $3,606  
Commission
$29.09 - $10,364  
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).
)
$32,595 - $71,145  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 364
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$14.06 - $25.08  
   
Overtime
$0.30 - $41.17  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$50.00 - $7,657  
   
Commission
$29.09 - $10,364  
Profit Sharing
$237.55 - $3,606  
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).
)
$32,595 - $71,145  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 73
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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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Survey results suggest that Insurance Account Managers put a wide range of professional skills to use. Most notably, skills in Customer Relations, Sales, Insurance, and Customer Service are correlated to pay that is above average. Those listing Microsoft Excel as a skill should be prepared for drastically lower pay. Insurance License and Customer Service also typically command lower compensation. It is not unusual for someone who knows Customer Service to be familiar with Insurance as well.

Pay by Experience Level for Account Manager, Insurance

Median of all compensation (including tips, bonus, and overtime) by years of experience.
Respondents with less than five years' experience take home $39K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $50K. Insurance Account Managers who work for 10 to 20 years in their occupation tend to earn about $53K. Survey participants with more than twenty years of experience only make around $52K on average, though; this group reports a lower median than the one claimed by mid-career individuals.

Pay Difference By Location

San Francisco
up arrow 56%
Los Angeles
up arrow 31%
Miami
up arrow 25%
Chicago
up arrow 21%
Seattle
up arrow 13%
Charlotte
up arrow 13%
Dallas
up arrow 11%
San Antonio
up arrow 11%
Houston
up arrow 9%
San Diego
up arrow 5%
Austin
up arrow 4%
National Average
$49,000
Tampa
up arrow 8%
Denver
up arrow 15%
Larger circles over a city indicate a job is popular in that location.
San Francisco offers some of the highest pay in the country for Insurance Account Managers, 56 percent above the national average. Insurance Account Managers can also look forward to large paychecks in cities like Los Angeles (+31 percent), Miami (+25 percent), Chicago (+21 percent), and Charlotte (+13 percent). The smallest paychecks in the market, 15 percent south of the national average, can be found in Denver.

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Experience Affects Account Manager, Insurance Salaries

Experienced
up arrow 8%
Late-Career
up arrow 7%
Mid-Career
up arrow 3%
National Average
$49,000
Entry-Level
up arrow 21%

Skills That Affect Account Manager, Insurance Salaries

Customer Relations
up arrow 18%
Sales
up arrow 13%
National Average
$49,000
Insurance
up arrow 4%
Insurance License
up arrow 23%
Microsoft Excel
up arrow 26%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 77 votes.

Gender

Female
91%
female alumni
 
Male
9%
male alumni

Years of Experience

Less than 1 year
1%
1-4 years
19%
5-9 years
23%
10-19 years
33%
20 years or more
23%

Common Health Benefits

medical benefits Medical: 78% dental benefits Dental: 62%
vision benefits Vision: 46% employee benefits None: 19%