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Insurance Producer Salary

The median salary for Insurance Producers in the United States is approximately $35K per year, but employers pay the most in Cleveland, offering around $63K on average. Insurance Producers will also find cushy salaries in Houston (+45 percent), Boston (+38 percent), Seattle (+36 percent), and Chicago (+26 percent). The numbers in this rundown were provided by PayScale's salary survey participants.
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$21,536 - $60,815
(Median)
$22K
$35K
$61K
MEDIAN: $35,384
10%
50%
90%

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$9.90 - $18.35
(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
$21,536 - $60,815  
   
Bonus
$0.00 - $11,811  
Profit Sharing
$120.80 - $7,152  
Commission
$0.00 - $23,583  
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).
)
$21,765 - $62,396  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 488
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
$9.90 - $18.35  
   
Overtime
$0.00 - $28.19  
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 - $11,811  
   
Commission
$0.00 - $23,583  
Profit Sharing
$120.80 - $7,152  
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).
)
$21,765 - $62,396  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 295

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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

  • 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 Agent Job Listings

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Popular Employer Salaries for Insurance Producer


The biggest paychecks can be found at State Farm Insurance Company — the median salary there is $35K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $21K and highest ones in the neighborhood of $43K.

Farmers Insurance Group reports the lowest median salary in the area (it's only $24K) but some workers make up to $44K, indicating a rather large gap in employee earnings.

Popular Skills for Insurance Producer


Survey takers who work as Insurance Producers usually report a few specific skills. Those who have experience with Sales, Insurance, and Customer Service can expect to be compensated well for these skills. Skills that pay less than market rate include Customer Service. 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 more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Relatively untried employees who have less than five years' experience make $32K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $39K. Insurance Producers see a median salary of $40K after reaching one to two decades on the job. As Insurance Producers reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $45K.

Pay Difference by Location

Related Job Salaries

 
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United States (change)

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 2%

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 158 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
4%
1-4 years
47%
5-9 years
22%
10-19 years
19%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 39% dental benefits Dental: 26%
vision benefits Vision: 20% employee benefits None: 60%
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