Branch Manager, Insurance Office Salary
With just under three-fifths of Insurance Office Branch 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 $31K to $127K per year and averages out to $59K annually. Including potential for bonuses, profit sharing and commission — peaking near $21K, $15K, and $51K, respectively — total cash payment to Insurance Office Branch Managers can bottom out near $31K or top out at around $127K. Most Insurance Office Branch Managers are fairly content with their jobs, and work satisfaction falls in line with the national average. While just under a third report receiving no health benefits, the larger part do receive medical coverage, and a little less than one-half have dental, as well. More than half of Insurance Office Branch Managers (64 percent) survey participants are women. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Job Description for Branch Manager, Insurance Office
An insurance office branch manager is the individual who is ultimately responsible for all of the operations of a specific office. They manage staff members in addressing customer claims and enrolling new customers by setting target metrics, giving performance evaluations, and providing staff members with training opportunities and guidance. Further, the branch manager also deals with any escalated customer service issues that may arise. The branch manager also performs several human resource functions such as screening applicants and hiring new team members.Read More...
On top of operational and human resource functions, the branch manager also performs several finance-related tasks such as managing budgets and (possibly) procuring funds for special projects. Additionally, the branch manager must always look for opportunities to increase sales by expanding their reach and networking with potential clients. The manager often reports directly to a regional manager, filing periodic reports that include sales figures, staff evaluations, market research, and budget analyses.
Insurance office branch managers usually hold a bachelor's degree and have several years of supervisory experience. Attention to detail and strong interpersonal skills are essential to succeed in this position. Due to fluctuations in customer demand, branch managers may need to work long hours and keep flexible schedules.
Branch Manager, Insurance Office Tasks
- Supervise staff at retail locations, including security, client representatives, and maintenance.
- Review, revise, and communicate industry and company policies.
- Prepare, analyze, and submit metrics and reports regarding policyholders, accounts, and staff.
- Oversee client interactions and account management to ensure the highest level of quality service.
Branch Manager, Insurance Office Job Listings
Search for more jobs:
Popular Skills for Branch Manager, Insurance Office
Insurance Office Branch Managers report a narrow range of specific skills. Most notably, skills in Insurance, Operations Management, Customer Relationship Management, and Office Management are correlated to pay that is above average. Those listing Office Management as a skill should be prepared for drastically lower pay. Customer Relationship Management and Operations Management also typically command lower compensation. Most people who know Insurance also know Office Management.
Pay by Experience Level for Branch Manager, Insurance Office
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Insurance Office Branch Managers who reported more years of relevant experience also reported higher earnings. Salaries of relatively inexperienced workers fall in the neighborhood of $43K, but folks who have racked up five to 10 years see a notably higher median of $57K. After working for 10 to 20 years, Insurance Office Branch Managers make a median salary of $63K. Average wages for folks with more than 20 years of experience come out to around $79K.