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 $36K per year. Final cash compensation to Insurance Sales Agents varies from around $23K to approximately $62K; choice pay grades include potential for bonuses and profit sharing as high as $15K and $10K, respectively. While the particular city and years of experience impact pay for this group, the company is the most influential factor. Although just over a half lack health benefits of any kind, more than two-fifths do enjoy medical insurance, and slightly less than a third get dental coverage, too. The majority of Insurance Sales Agents (69 percent) who took the survey are women. For the most part, Insurance Sales Agents enjoy their work and report high levels of job satisfaction. The data for this synopsis comes from respondents who took the PayScale salary survey.

$23,439 - $62,539
$23K
$36K
$63K
MEDIAN: $36,054
10%
50%
90%

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$10.01 - $18.63
$10
$14
$19
MEDIAN: $14.23
10%
50%
90%

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$0$62K
Salary $23,439 - $62,539
Bonus $339.35 - $14,994
Profit Sharing $309.13 - $10,256
Commission $1,014 - $30,978
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).
)
$23,059 - $61,816
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 1,218
Hourly Data $0$28
Hourly Rate $10.01 - $18.63
Hourly Tips $2.75
Overtime $9.86 - $28.37
Annual Data $0$61K
Bonus $339.35 - $14,994
Commission $1,014 - $30,978
Profit Sharing $309.13 - $10,256
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).
)
$23,059 - $61,816
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 722

Find Out Exactly What You Should Be Paid

United States (change)

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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

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

Common Career Paths for Insurance Sales Agent


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Insurance Sales Agents may progress into high-paying roles like Insurance Broker, where median compensation is $58K annually. An Insurance Agent or an Insurance Office Branch Manager is a typical transition from an Insurance Sales Agent role.

Insurance Sales Agent Job Listings

Popular Employer Salaries for Insurance Sales Agent


Insurance Sales Agents fill the offices of leading firms State Farm Insurance Company, Allstate, Farmers Insurance Group, Geico, and Allstate Insurance Company. Those at Liberty Mutual Insurance Group can expect to make the most, with the company offering a median salary of $60K. Other leaders in compensation levels are New York Life Insurance Company at $59K, Usaa Insurance at $46K, and Humana, Inc., where Insurance Sales Agents annually earn $45K.

Other low-paying employers include All State at $31K and Allstate at $32K, though some Insurance Sales Agents there earn up to $49K.

Popular Skills for Insurance Sales Agent


Insurance Sales Agents seem to wield many skills on the job. Most notably, facility with Field Sales, Sales Management, and Marketing Communications are correlated to pay that is significantly above average, leading to increases of 43 percent, 7 percent, and 5 percent, respectively. Skills that seem to negatively impact pay include Office Administration, Spanish Language, and Customer Service. Most people familiar with Insurance also know Customer Service.

Pay by Experience Level for Insurance Sales Agent

Pay by Experience for an Insurance Sales Agent has a positive trend. An entry-level Insurance Sales Agent with less than 5 years of experience can expect to earn an average total compensation of $32,000 based on 1,175 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Sales Agent with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $38,000 based on 391 salaries. An experienced Insurance Sales Agent which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $42,000 based on 347 salaries. An Insurance Sales Agent with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $46,000 based on 165 salaries.

Pay Difference by Location

National Average: $35,464

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

For those looking to make money, Insurance Sales Agents in New York enjoy an exceptional pay rate, 35 percent above the national average. Insurance Sales Agents will also find cushy salaries in Phoenix (+33 percent), Los Angeles (+19 percent), Charlotte (+13 percent), and Indianapolis (+11 percent). The lowest-paying market is Corpus Christi, which sits 20 percent below the national average. Workers in Orlando and Atlanta earn less than others in this profession; their salaries fall short of the national average by 7 percent.

Related Job Salaries

Key Stats for Insurance Sales Agent

Gender

Female
69 %
Male
31 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 270 votes.
Less than 1 year
13%
1-4 years
45%
5-9 years
16%
10-19 years
16%
20 years or more
9%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Insurance Sales Agent Salaries

▲31%

▲19%

▲7%

National Average
$35,000

▼10%

Skills That Affect Insurance Sales Agent Salaries

▲43%


▲5%



▲2%

National Average
$35,000

Insurance
▼1%

Sales
▼1%

▼1%

Customer Relationship Management (CRM)
▼1%






Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 270 votes.

Gender

Female
69 %
Male
31 %

Years of Experience

Less than 1 year
13%
1-4 years
45%
5-9 years
16%
10-19 years
16%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 44%
dental benefits
Dental: 31%
vision benefits
Vision: 25%
no benefits
None: 54%
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