Insurance Producer Salary (United States)

Insurance Producers in the United States earn an average of $35,048 annually, and top pay can be found in Cleveland, where the average is $63K. Insurance Producers will also find cushy salaries in Seattle (+39 percent) and Chicago (+30 percent). The information for this snapshot was generated by responses to the PayScale salary survey.
Insurance Producer 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.
)
$22,011 - $63,707
(Median)
22K
36K
48K
64K
MEDIAN: $35,694
10%
50%
75%
90%
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Insurance Producer 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.
)
$9.96 - $18.40
(Median)
10
11
13
16
18
MEDIAN: $13.00
10%
25%
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$22K$44K$66K
Salary
$22,011 - $63,707  
   
Bonus
$0.00 - $10,375  
Profit Sharing
$695 - $5,872  
Commission
$0.00 - $21,674  
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).
)
$22,205 - $65,054  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 355
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
$9.96 - $18.40  
   
Overtime
$0.00 - $27.15  
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 - $10,375  
   
Commission
$0.00 - $21,674  
Profit Sharing
$695 - $5,872  
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).
)
$22,205 - $65,054  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 220
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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.

Insurance Producer Job Listings

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Popular Employer Salaries for Insurance Producer

Employees of State Farm Insurance Company can expect to make the most, with the company offering a median salary of $34,268; however, pay is widely dispersed from top to bottom, ranging from $21K to $42K.
The smallest paychecks can be found at Farmers Insurance Group—the median salary there is $23,676; however, employees are subject to a wide range in pay, with salaries starting at only $22K and climbing to $40K. Also approaching the lower end are Allstate Insurance Company at $30,591 and Allstate at $31,260.

Popular Skills for Insurance Producer

Survey takers who work as Insurance Producers usually report a few specific skills. Those who have experience with Sales can expect to be compensated well for these skills, typically earning 4 percent more than the national average, respectively. Most people who know Customer Service also know Insurance.

Pay by Experience Level for Insurance Producer

Median of all compensation (including tips, bonus, and overtime) by years of experience.
Insurance Producers with less experience do not necessarily bring home smaller paychecks. In fact, experience in this field tends to have little impact on salary. After five to 10 years, starting salaries jump from $31K to $38K. Between 10 and 20 years, pay reaches $40K. After 20 years of work in the field, Insurance Producers typically earn $44K and go on to enjoy (slight) increases in earnings. Experienced employees who have 10-20 years of experience make up 21 percent of the workforce; inexperienced individuals who have been working for less than one year comprise less than five, and senior people with more than 20 years under their belt fill out the remaining 7 percent. Age distribution in this workforce is concentrated between one and nine years of experience; a majority of respondents fall in this range.

Pay Difference By Location

Cleveland
up arrow 79%
Seattle
up arrow 39%
Chicago
up arrow 30%
Phoenix
up arrow 14%
National Average
$35,000
Philadelphia
up arrow 8%
Denver
up arrow 28%
Larger circles over a city indicate a job is popular in that location.

Related Job Salaries

Experience Affects Insurance Producer Salaries

National Average
$35,000

Skills That Affect Insurance Producer Salaries

Sales
up arrow 4%
Insurance
up arrow 1%
National Average
$35,000
Customer Service
up arrow 2%

Job Satisfaction

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Highly satisfied
Rated 4 out of 5 based on 133 votes.

Gender

Female
70%
female alumni
 
Male
30%
male alumni

Years of Experience

Less than 1 year
3%
1-4 years
43%
5-9 years
26%
10-19 years
21%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 41% dental benefits Dental: 28%
vision benefits Vision: 20% employee benefits None: 58%
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