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Account Manager, Insurance Salary (United States)

Slightly less than 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 $32K to $69K per year, but standard earnings come to around $49K per year. Cash earnings of Insurance Account Managers — including $8K in bonuses, $4K in profit sharing proceeds, and $11K in commissions near the top of the pay scale — stretch from approximately $32K to approximately $69K depending on individual performance. Residence and career duration each impact pay for this group, with the former having the largest influence. A fair portion report receiving medical coverage from their employers and more than half collect dental insurance. Most Insurance Account Managers report high levels of job satisfaction. This report is based on 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.
)
$33,163 - $68,832
(Median)
33K
40K
49K
57K
69K
MEDIAN: $48,723
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.
)
$14.00 - $25.44
(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
$33,163 - $68,832  
   
Bonus
$0.00 - $7,787  
Profit Sharing
$222.50 - $3,750  
Commission
$0.00 - $11,132  
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).
)
$32,259 - $69,097  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 295
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
$14.00 - $25.44  
   
Overtime
$0.00 - $41.35  
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
$0.00 - $7,787  
   
Commission
$0.00 - $11,132  
Profit Sharing
$222.50 - $3,750  
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).
)
$32,259 - $69,097  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 60
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Location:
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United States (change)

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 show that Insurance Account Managers typically report just a few professional skills. Most notably, skills in Customer Relations, Sales, Insurance, and Customer Service are correlated to pay that is above average. Those listing Insurance License as a skill should be prepared for drastically lower pay. Customer Service and Insurance also typically command lower compensation. Customer Service and Insurance are correlating skills — those who know the former usually know the latter.

Pay by Experience Level for Account Manager, Insurance

Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience make $39K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $49K. Insurance Account Managers bring in $51K after working for 10 to 20 years. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $51K. Insurance Account Managers with one to 10 years of experience are most common in the field, followed by those with 10 to 20 years and more than 20 years.

Pay Difference By Location

Los Angeles
up arrow 33%
Miami
up arrow 27%
Houston
up arrow 10%
Dallas
up arrow 4%
San Diego
up arrow 3%
National Average
$48,000
Denver
up arrow 13%
Larger circles over a city indicate a job is popular in that location.
Surpassing the national average by 33 percent, Insurance Account Managers in Los Angeles receive some of the highest pay in the country. Also paying near the top of the field are Miami, Houston, Dallas, and San Diego, where Insurance Account Managers annually earn 27 percent, 10 percent, 4 percent, and 3 percent more than the national average. Denver is the lowest-paying area, 13 percent south of the national average.

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Experience Affects Account Manager, Insurance Salaries

Experienced
up arrow 7%
Late-Career
up arrow 7%
Mid-Career
up arrow 1%
National Average
$48,000
Entry-Level
up arrow 18%

Skills That Affect Account Manager, Insurance Salaries

Customer Relations
up arrow 19%
Sales
up arrow 14%
National Average
$48,000
Insurance
up arrow 4%
Customer Service
up arrow 4%
Insurance License
up arrow 22%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 61 votes.

Gender

Female
91%
female alumni
 
Male
9%
male alumni

Years of Experience

Less than 1 year
1%
1-4 years
17%
5-9 years
24%
10-19 years
35%
20 years or more
23%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 62%
vision benefits Vision: 47% employee benefits None: 18%