Pay for Insurance Producers in the United States is very modest at just $33K annually. With some bonuses approaching $13K and certain profit sharing proceeds approaching $8K, overall incomes of Insurance Producers spread between $23K and $62K depending on individual performance. Earnings for this group are mostly affected by geography, followed by the specific employer and experience level. Most Insurance Producers like their work and job satisfaction is high. Over a third enjoy medical while just under a fourth get dental coverage. Vision coverage is also available to slightly less than a fifth. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$21,458 - $64,784
$21K
$33K
$65K
MEDIAN: $33,188
10%
50%
90%

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$9.96 - $18.33
$10
$13
$18
MEDIAN: $13.00
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$22K$44K$66K
Salary
$21,458 - $64,784  
   
Bonus
$250.83 - $12,508  
Profit Sharing
$0.00 - $7,600  
Commission
$1,014 - $20,273  
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).
)
$22,649 - $61,572  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 557
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$11$22$33
Hourly Rate
$9.96 - $18.33  
   
Overtime
$0.00 - $30.67  
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$22K$44K$66K
Bonus
$250.83 - $12,508  
   
Commission
$1,014 - $20,273  
Profit Sharing
$0.00 - $7,600  
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).
)
$22,649 - $61,572  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 329

Find Out Exactly What You Should Be Paid

United States (change)

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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

  • Sell insurance policies to businesses or individuals.
  • Utilize referrals, phone calls, mailings, and other forms of advertising to generate new customers.
  • 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.

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Popular Employer Salaries for Insurance Producer


State Farm Insurance Company, Allstate, Farmers Insurance Group, Allstate Insurance Company, and American Family Insurance Group are among the top companies that take on many Insurance Producers. Arthur J. Gallagher & Company offers the highest compensation with a median salary of $80K.

Popular Skills for Insurance Producer


Insurance Producers report using a deep pool of skills on the job. Most notably, facility with Strategic Sales and Sales Management are correlated to pay that is significantly above average, leading to increases of 76 percent and 21 percent, respectively. Skills that pay less than market rate include Inside Sales, Spanish Language, and licensed. Most people who know Insurance also know Customer Service.

Pay by Experience Level for Insurance Producer

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


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Survey participants with less than five years' experience pocket $31K on average, but those with five to 10 years of experience enjoy a much bigger median of $37K. The average pay reported by folks with 10 to 20 years of experience is around $41K. Seasoned veterans with 20 years under their belts enjoy a median income of $48K.

Pay Difference by Location

National Average: $33,416

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

For those looking to make money, Insurance Producers in New York enjoy an exceptional pay rate, 139 percent above the national average. Insurance Producers can also look forward to large paychecks in cities like Cleveland (+88 percent), Seattle (+86 percent), Denver (+47 percent), and Los Angeles (+46 percent). Insurance Producers in Las Vegas make 24 percent less than the national average, proving that location is a major factor in pay. Below-median salaries also turn up in Indianapolis and Charlotte (13 percent lower and 6 percent lower, respectively).

Related Job Salaries

Key Stats for Insurance Producer

Gender

Female
70 %
Male
30 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 163 votes.
Less than 1 year
6%
1-4 years
53%
5-9 years
16%
10-19 years
17%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Producer Salaries




National Average
$33,000


Skills That Affect Insurance Producer Salaries

Strategic Sales
up arrow 76%

Sales Management
up arrow 21%

Sales
up arrow 2%

Customer Relations
up arrow 1%

Insurance
0%

Customer Relationship Management (CRM)
0%

National Average
$33,000

Office Management
up arrow 1%

Customer Service
up arrow 2%

licensed
up arrow 7%

Spanish Language
up arrow 16%

Inside Sales
up arrow 17%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 163 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
6%
1-4 years
53%
5-9 years
16%
10-19 years
17%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 36%
dental benefits
Dental: 23%
vision benefits
Vision: 18%
dental benefits
None: 62%
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