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Insurance Sales Representative Salary

Those pursuing careers as Insurance Sales Representatives in the United States may have to make do with less; average incomes for people in this area hover around only $34K per year. In the world of Insurance Sales Representatives, total cash compensation can vary between $23K and $59K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $12K and $8K, respectively. The most influential factor affecting pay for this group is the specific employer, though the particular city and tenure have a (lesser) impact as well. The majority of Insurance Sales Representatives claim high levels of job satisfaction. Health benefits are not claimed by all — slightly more than half lack any form of coverage — but more than two-fifths have medical insurance, and roughly one in three have dental, too. The numbers in this rundown were provided by PayScale's salary survey participants.
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$23,302 - $59,939
(Median)
$23K
$34K
$60K
MEDIAN: $33,522
10%
50%
90%

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$9.93 - $18.55
(Median)
$9
$14
$19
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$20K$40K$60K
Salary
$23,302 - $59,939  
   
Bonus
$0.00 - $12,218  
Profit Sharing
$489.36 - $8,054  
Commission
$592 - $24,669  
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).
)
$22,896 - $59,081  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 531
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$10$20$30
Hourly Rate
$9.93 - $18.55  
   
Overtime
$0.00 - $27.18  
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$20K$40K$60K
Bonus
$0.00 - $12,218  
   
Commission
$592 - $24,669  
Profit Sharing
$489.36 - $8,054  
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).
)
$22,896 - $59,081  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 316

Find Out Exactly What You Should Be Paid

United States (change)


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Job Description for Insurance Sales Representative

The insurance sales representative takes on the responsibility of communicating with new and existing clients for the purpose of selling insurance policies, advising clients, and gathering information. These representatives are tasked not only with selling a policy to clients, but also with developing strong working relationships by getting to know clients' needs, resources, and property or persons to be insured. As many insurance agencies offer many different types of insurance, the insurance sales representative must know all available policies and remain up to date on organizational practices and requirements.

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Insurance Sales Representative 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 Sales Representative


Known for taking on a considerable number of Insurance Sales Representatives, State Farm Insurance Company, Allstate, Allstate Insurance Company, Liberty Mutual Insurance Group, and Usaa Insurance are leading firms in the industry. Although Liberty Mutual Insurance Group boasts the highest average salary in town at $59K, employee compensation still varies greatly — workers can make as little as $26K or as much as $85K. Usaa Insurance, Progressive Casualty Insurance Company, and State Farm Insurance Company are a few other companies that offer generous salaries, with Insurance Sales Representatives earning around $41K, $39K, or $32K at each firm, respectively.

Earnings fall especially short at Allstate Insurance Company, where the median salary of $26K is the lowest in the field, less than half of the top paying employer's rate. Other low-paying employers include Farmers Insurance Group at $29K and Allstate at $31K, though some Insurance Sales Representatives there earn up to $42K.

Popular Skills for Insurance Sales Representative


Survey takers who work as Insurance Sales Representatives typically report just a few professional skills. Most notably, skills in Bilingual, Sales, Insurance, and Customer Service are correlated to pay that is above average. At the other end of the pay range are skills like Customer Service. Most people skilled in Customer Service are similarly competent in Insurance.

Pay by Experience Level for Insurance Sales Representative

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


For Insurance Sales Representatives, experience does not seem to be a major factor in determining pay. Those in the early stages of their career can expect to make around $31K; however, individuals with five to 10 years of experience bring in $37K on average — a distinctly larger sum. Insurance Sales Representatives bring in $40K after working for 10 to 20 years. Veterans who have acquired more than 20 years report a median income of $46K, which is generally higher than the pay reported by other tenure groups.

Pay Difference by Location


Surpassing the national average by 43 percent, Insurance Sales Representatives in Pittsburgh receive some of the highest pay in the country. Insurance Sales Representatives will also find cushy salaries in Las Vegas (+38 percent), New York (+33 percent), Dallas (+24 percent), and Baltimore (+19 percent). Insurance Sales Representatives in Birmingham report much lower salaries than the rest of the country — 26 percent below the national average — proving that residence is a major factor in overall pay. Employers in Philadelphia and Spokane also lean toward paying below-median salaries (13 percent lower and 4 percent lower, respectively).

Insurance Sales Representative Reviews

What is it like working as an Insurance Sales Representative?

Insurance Sales Representative in Plymouth:
"Minimal Stress, A lot of paperwork."
Pros: Company is pretty easy to work with, has halfway decent software and agency is very nice.
Cons: This company requires physical signatures to write application, along with all sorts of paperwork. It can take quite a while to write a policy.

Related Job Salaries

United States (change)

Experience Affects Insurance Sales Representative Salaries




National Average
$34,000


Skills That Affect Insurance Sales Representative Salaries

Bilingual
up arrow 20%

Sales
up arrow 2%

National Average
$34,000

Insurance
up arrow 1%

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 161 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
8%
1-4 years
45%
5-9 years
21%
10-19 years
17%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 45% dental benefits Dental: 34%
vision benefits Vision: 28% employee benefits None: 53%
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