Insurance Producer Salary

The median salary for Insurance Producers in the United States is $35K annually, and compared to other cities, Cleveland offers the biggest paychecks at around $63K on average. Insurance Producers can also look forward to large paychecks in cities like Greenville (+71 percent), Houston (+40 percent), Boston (+38 percent), and Seattle (+37 percent). The information for this snapshot was generated by responses to the PayScale salary survey.
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$21,450 - $61,112
(Median)
$21K
$35K
$61K
MEDIAN: $35,467
10%
50%
90%

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$9.91 - $18.39
(Median)
$9
$13
$18
MEDIAN: $13.00
10%
50%
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$21K$42K$63K
Salary
$21,450 - $61,112  
   
Bonus
$0.00 - $11,931  
Profit Sharing
$-0.49 - $7,047  
Commission
$0.00 - $22,426  
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).
)
$21,792 - $62,342  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 512
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$11$22$33
Hourly Rate
$9.91 - $18.39  
   
Overtime
$0.00 - $27.81  
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$22K$44K$66K
Bonus
$0.00 - $11,931  
   
Commission
$0.00 - $22,426  
Profit Sharing
$-0.49 - $7,047  
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).
)
$21,792 - $62,342  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 313
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Job Description for Insurance Producer

Insurance producers are licensed and trained in sales and customer service, and they are responsible for selling insurance and insurance-related products to prospective clients. Additionally, insurance producers must ensure that the policies they offer comply with all insurance regulations, maintain a knowledge of all commercially available products and monitor all clients' insurance policies to be sure that the highest level of service is provided. Insurance producers must also maintain excellent relationships with current clients, which may help secure new client referrals; this includes resolving any client issues and claims quickly and efficiently.

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Insurance Producer Tasks

  • Process the paperwork to enroll customers in policies and calculate premiums.
  • Explain insurance policies to customers and help them customize policies to fit their needs.
  • Sell insurance policies to businesses or individuals.
  • Utilize referrals, phone calls, mailings, and other forms of advertising to generate new customers.

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Popular Employer Salaries for Insurance Producer


State Farm Insurance Company pays the most with a median salary of $35K, though with a large amount of variation, going from a low of $21K to a high of $43K.

For Insurance Producers, below-average salaries can be found at Farmers Insurance Group; in fact, average earnings are around $24K, the lowest in the area, though the difference in the company's lowest and highest employee paychecks ($20K versus $41K) is great.

Popular Skills for Insurance Producer


Just a handful of professional skills are reported by Insurance Producers who took the survey. Most notably, skills in Sales, Insurance, Customer Service, and Customer Relationship Management (CRM) are correlated to pay that is above average. Skills that pay less than market rate include Customer Relationship Management. Those educated in Customer Service tend to be well versed in Insurance.

Pay by Experience Level for Insurance Producer

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


More years of relevant experience do not necessarily translate to higher paychecks. Survey participants with less than five years' experience pocket $32K on average, but those with five to 10 years of experience enjoy a much bigger median of $39K. The average pay reported by folks with 10 to 20 years of experience is around $40K. Insurance Producers who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $45K.

Pay Difference by Location

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Experience Affects Insurance Producer Salaries




National Average
$35,000


Skills That Affect Insurance Producer Salaries

Sales
up arrow 2%

National Average
$35,000

Insurance
up arrow 1%

Customer Service
up arrow 3%

Customer Relationship Management (CRM)
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 159 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
4%
1-4 years
47%
5-9 years
21%
10-19 years
20%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 39% dental benefits Dental: 26%
vision benefits Vision: 19% employee benefits None: 60%
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