Insurance Sales Agent Salary

It's impossible to make it big as a Insurance Sales Agents in the United States; the average employee scrapes together only around $35K annually. Bonuses, profit sharing, and commission all factor into final incomes for Insurance Sales Agents. Ranging between $23K near the bottom and $65K near the top, total earnings can include up to $10K from bonuses and up to $15K from profit sharing, with a high-performing minority reaping commissions of $44K. The most important factor affecting compensation for this group is residence, followed by experience level and the particular employer. Work is enjoyable for Insurance Sales Agents, who typically claim high levels of job satisfaction. The majority of Insurance Sales Agents (65 percent) who took the survey are female. While just over two-fifths report receiving no health benefits, over one-half do receive medical coverage, and over a third have dental, as well. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$23,381 - $64,352
(Median)
$23K
$35K
$64K
MEDIAN: $35,396
10%
50%
90%

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$9.71 - $17.92
(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$22K$44K$66K
Salary
$23,381 - $64,352  
   
Bonus
$0.00 - $10,286  
Profit Sharing
$400.00 - $14,740  
Commission
$486.45 - $43,756  
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).
)
$22,786 - $64,772  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,695
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
$9.71 - $17.92  
   
Overtime
$0.00 - $28.49  
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 - $10,286  
   
Commission
$486.45 - $43,756  
Profit Sharing
$400.00 - $14,740  
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).
)
$22,786 - $64,772  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 779
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Job Description for Insurance Sales Agent

An insurance sales agent is a person who helps individuals choose a policy that most closely fits their needs. The sales agent will typically represent and work for an individual company, but independent agents who represent many smaller insurance entities exist as well. In any event, these sales-oriented employees help to match up individuals with home, car, and life insurance policies that offer acceptable coverage to the consumer and provide a profit to the company. In some cases, the sales agent may also be the first contact when an insured person needs to file a claim.

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Insurance Sales Agent Tasks

  • Prepares reports, seek out new business, and maintains records.
  • Serves as a first contact with the customer.
  • Sells products that protect businesses or individuals from financial loss.
  • Maintains relationship with clients, and advises of changes in coverage.

Common Career Paths for Insurance Sales Agent


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Though not the most common occurrence, Insurance Sales Agents sometimes become Registered Nurses, where the average income is $55K per year. However, becoming a Insurance Agent or Insurance Office Branch Manager is a more frequent transition for Insurance Sales Agents.

Insurance Sales Agent Job Listings

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Popular Employer Salaries for Insurance Sales Agent


Known for taking on a considerable number of Insurance Sales Agents, State Farm Insurance Company, Allstate Insurance Company, Allstate, Farmers Insurance Group, and Nationwide Mutual Insurance Company are leading firms in the industry. Insurance Sales Agents seeking a sizable paycheck can earn the most at Farmers Insurance Group, where the median salary comes to $39K, though the large pay difference between employees at the top ($23K) and those starting out ($90K) creates a rather diverse pay scale.

While select Allstate Insurance Company employees may bring in up to $49K, a median salary of only $28K — the lowest in the field — suggests a serious lag in the earnings department.

Popular Skills for Insurance Sales Agent


Survey takers working as Insurance Sales Agents report using a large range of professional skills. Most notably, skills in Field Sales, Sales Management, Commercial, and Account Sales are correlated to pay that is above average, with boosts between 13 percent and 19 percent. At the other end of the pay range are skills like Spanish Language, Microsoft Office, and Customer Service. It is often found that people who know Insurance are also skilled in Customer Service.

Pay by Experience Level for Insurance Sales Agent

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


For Insurance Sales Agents, experience does not seem to be a major factor in determining pay. The average worker who claims fewer than five years of experience earns around $32K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $37K. Insurance Sales Agents see a median salary of $39K after reaching one to two decades on the job. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $45K.

Pay Difference by Location


For Insurance Sales Agents, Los Angeles provides a pay rate that is 25 percent greater than the national average. Insurance Sales Agents can also look forward to large paychecks in cities like Chicago (+25 percent), San Antonio (+17 percent), Philadelphia (+17 percent), and Houston (+13 percent). With compensation 12 percent below the national average, Orlando is not known for hefty paychecks and actually represents the lowest-paying market. Below-median salaries also turn up in Charlotte and Pittsburgh (8 percent lower and 3 percent lower, respectively).

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Experience Affects Insurance Sales Agent Salaries




National Average
$35,000


Skills That Affect Insurance Sales Agent Salaries





Sales
up arrow 2%

Customer Relationship Management (CRM)
up arrow 2%

Marketing Communications
up arrow 2%

Inside Sales
up arrow 1%

National Average
$35,000

Insurance
up arrow 1%

Leadership
up arrow 1%

Customer Relations
up arrow 3%





Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 359 votes.

Gender

Female
65 %
Male
35 %

Years of Experience

Less than 1 year
10%
1-4 years
39%
5-9 years
22%
10-19 years
18%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 54% dental benefits Dental: 37%
vision benefits Vision: 28% employee benefits None: 43%
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