Insurance Producer Salary

Those pursuing careers as Insurance Producers in the United States may have to make do with less; average incomes for people in this area hover around only $34K per year. With some bonuses approaching $15K and certain profit sharing proceeds approaching $9K, overall incomes of Insurance Producers spread between $23K and $61K depending on individual performance. The specific employer is the main element affecting pay for this group — the particular city and experience level are driving factors as well. For the most part, Insurance Producers enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to more than a third, and approximately one in five earn dental coverage. Most Insurance Producers survey respondents are women (74 percent). This snapshot results from replies to PayScale's salary survey.
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$22,285 - $65,791
$22K
$34K
$66K
MEDIAN: $33,930
10%
50%
90%

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$10.17 - $18.39
$10
$14
$18
MEDIAN: $13.50
10%
50%
90%

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$0$65K
Salary $22,285 - $65,791
Bonus $303.25 - $14,731
Profit Sharing $0.00 - $9,153
Commission $928 - $19,498
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).
)
$23,385 - $60,671
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 564
Hourly Data $0$23
Hourly Rate $10.17 - $18.39
Overtime $12.60 - $23.70
Annual Data $0$60K
Bonus $303.25 - $14,731
Commission $928 - $19,498
Profit Sharing $0.00 - $9,153
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).
)
$23,385 - $60,671
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 353

Find Out Exactly What You Should Be Paid

United States (change)

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.

Insurance Producer Job Listings

Popular Employer Salaries for Insurance Producer


State Farm Insurance Company, Allstate, Farmers Insurance Group, Allstate Insurance Company, and American Family Insurance Group are all popular places to work. Heading up the field in terms of compensation, Arthur J. Gallagher & Company offers the most; Insurance Producers earn $80K on average there.

Salaries are easily beat at Farmers Insurance Group, where median pay comes to just $29K, the lowest in the field. What's more, with base pay starting at $24K and ending at $39K, range in salary is rather small.

Popular Skills for Insurance Producer


Survey participants wield an impressively varied skill set 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 78 percent and 20 percent, respectively. Skills that pay less than market rate include Inside Sales, Spanish Language, and licensed. Those educated in Insurance tend to be well versed in Customer Service.

Pay by Experience Level for Insurance Producer

Pay by Experience for an Insurance Producer has a positive trend. An entry-level Insurance Producer with less than 5 years of experience can expect to earn an average total compensation of $31,000 based on 548 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Producer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $37,000 based on 196 salaries. An experienced Insurance Producer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $40,000 based on 176 salaries. An Insurance Producer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $49,000 based on 75 salaries.

Pay Difference by Location

National Average: $33,647

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

Seattle offers some of the highest pay in the country for Insurance Producers, 87 percent above the national average. Insurance Producers will also find cushy salaries in Cleveland (+86 percent), New York (+84 percent), Denver (+49 percent), and Boston (+44 percent). Insurance Producers' salaries are heavily influenced by location — Insurance Producers in Las Vegas bring in salaries that are 23 percent lower than the national average. Below-median salaries also turn up in Indianapolis and Charlotte (13 percent lower and 7 percent lower, respectively).

Insurance Producer Reviews

Q: What is it like working as an Insurance Producer?

Insurance Producer in Fort Wayne:
Pros: Financial consulting on insurance and taxes.
Cons: Cold calling and generating new leads.

Insurance Producer in Chambersburg:
Pros: Contact with people.
Cons: Contact with rude people and system limitations.

Insurance Producer in Portland:
"Boring."
Pros: Working with people.
Cons: Low salary.

Related Job Salaries

Key Stats for Insurance Producer

Gender

Female
74 %
Male
26 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 193 votes.
Less than 1 year
6%
1-4 years
49%
5-9 years
19%
10-19 years
18%
20 years or more
9%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Producer Salaries

▲47%

▲18%

▲10%

National Average
$34,000

▼9%

Skills That Affect Insurance Producer Salaries

Strategic Sales
▲78%

Sales Management
▲20%


▲2%


National Average
$34,000

Insurance
▼1%


Office Management
▼2%

Spanish Language
▼8%

licensed
▼8%

Inside Sales
▼18%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 193 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
6%
1-4 years
49%
5-9 years
19%
10-19 years
18%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 35%
dental benefits
Dental: 21%
vision benefits
Vision: 18%
no benefits
None: 64%
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