Account Manager, Insurance Salary

A little more than half 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. Bonuses, profit sharing, and commission all factor into final incomes for Insurance Account Managers. Ranging between $33K near the bottom and $71K near the top, total earnings can include up to $7K from bonuses and up to $4K from profit sharing, with a high-performing minority reaping commissions of $15K. The most important factor affecting compensation for this group is location, followed by the specific employer and years of experience. For the most part, Insurance Account Managers enjoy their work and report high levels of job satisfaction. Unfortunately, some people in this line of work are without benefits — about one in five lack coverage. On the flip side, a strong majority have medical insurance and the larger part receive dental plans. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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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 largest salaries in town — $53K on average.

Popular Skills for Account Manager, Insurance


Survey results suggest that Insurance Account Managers put a wide range of professional skills 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. Those proficient in Customer Service are, more often than not, 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.


Insurance Account Managers with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Salaries of relatively inexperienced workers fall in the neighborhood of $41K, but folks who have racked up five to 10 years see a notably higher median of $49K. Insurance Account Managers claiming one to two decades of experience make an estimated median of $51K. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $54K, demonstrating that compensation is roughly commensurate with experience in the end.

Pay Difference by Location

National Average: $47,768

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

Insurance Account Managers will find that San Francisco offers an impressive pay rate, one which exceeds the national average by 48 percent. 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). The lowest-paying market is Denver, which sits 7 percent below the national average. A couple other locations with smaller-than-average paychecks include Boston and Seattle (2 percent lower).

Related Job Salaries

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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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