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 per year. In the world of Insurance Sales Agents, overall income ranges from $23K near the bottom to $65K at the top; this can include more than $10K from bonuses and more than $15K from profit sharing in exceptional cases. The most influential factor affecting pay for this group is location, though experience level and the particular employer have a (lesser) impact as well. Female Insurance Sales Agents are more common than men among those who completed the survey; more than half (65 percent) are women. Work is enjoyable for Insurance Sales Agents, who typically claim high levels of job satisfaction. Unfortunately, some people in this line of work are without benefits — more than two-fifths lack coverage. On the flip side, over one-half have medical insurance and more than a third receive dental plans. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$23,486 - $65,131

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$9.72 - $17.87

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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
$23,486 - $65,131  
   
Bonus
$0.00 - $10,308  
Profit Sharing
$402.68 - $14,720  
Commission
$483.39 - $44,563  
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).
)
$22,925 - $65,406  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 1,648
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
$9.72 - $17.87  
   
Overtime
$0.00 - $28.87  
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
$0.00 - $10,308  
   
Commission
$483.39 - $44,563  
Profit Sharing
$402.68 - $14,720  
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).
)
$22,925 - $65,406  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 759
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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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While Insurance Sales Agents do not often become Registered Nurses, the job pays $55K per year on average. More commonly, Insurance Sales Agents become Insurance Agents or Insurance Office Branch Managers.

Insurance Sales Agent Job Listings

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Popular Employer Salaries for Insurance Sales Agent


State Farm Insurance Company, Allstate Insurance Company, Allstate, Farmers Insurance Group, and Nationwide Mutual Insurance Company are some prominent firms with considerable interest in employing a large team of Insurance Sales Agents. Although Farmers Insurance Group leads the field in pay with a median salary of $39K, employees there receive a wide spread of salaries, from $23K on the low end all the way up to $91K at the top.

Employees of Allstate Insurance Company can expect to make the least, with the company offering a median salary of $28K; however, pay is widely dispersed from top to bottom, ranging from $20K to $47K.

Popular Skills for Insurance Sales Agent


Insurance Sales Agents report using a deep pool of skills on the job. Most notably, skills in Sales Management, Field Sales, Commercial, and Account Sales are correlated to pay that is above average, with boosts between 12 percent and 17 percent. Skills that pay less than market rate include Spanish Language, Microsoft Office, and Customer Service. Most people experienced in Insurance also know 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, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Those in the early stages of their career can expect to make around $32K; however, individuals with five to 10 years of experience bring in $37K on average — a distinctly larger sum. Insurance Sales Agents claiming one to two decades of experience make an estimated median of $39K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; an Insurance Sales Agent with more than 20 years of experience can earn $45K on average.

Pay Difference by Location


For those looking to make money, Insurance Sales Agents in Los Angeles enjoy an exceptional pay rate, 25 percent above the national average. Insurance Sales Agents will also find cushy salaries in Chicago (+25 percent), Philadelphia (+23 percent), San Antonio (+14 percent), and Houston (+14 percent). Those in the field find the lowest salaries in Orlando, 12 percent below the national average. Workers in Cincinnati and Charlotte earn salaries that trail the national average for those in this profession (12 percent less and 8 percent less, respectively).

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Experience Affects Insurance Sales Agent Salaries




National Average
$35,000


Skills That Affect Insurance Sales Agent Salaries





Marketing Communications
up arrow 3%

Sales
up arrow 2%

Customer Relationship Management (CRM)
up arrow 2%

Leadership
up arrow 1%

Inside Sales
0%

National Average
$35,000

Insurance
up arrow 2%

Customer Relations
up arrow 3%





Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 343 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: 55% dental benefits Dental: 37%
vision benefits Vision: 28% employee benefits None: 43%
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