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Insurance Sales Representative Salary

Insurance Sales Representatives in the United States may have to scrimp and save; the median compensation is $34K annually. In the world of Insurance Sales Representatives, overall cash earnings stretch from $23K near the bottom to $58K near the top; these packages encompass bonuses that run close to $10K and profit sharing that can (albeit rarely) exceed $7K, along with commissions approaching $21K. Earnings for this group are mostly affected by the particular firm, followed by geography and experience level. Most Insurance Sales Representatives survey respondents are women (71 percent). Unfortunately, some people in this line of work are without benefits — about one-half lack coverage. On the flip side, a little less than one-half have medical insurance and over a third receive dental plans. Most workers in this position report high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.
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$23,617 - $60,384
(Median)
24K
34K
41K
60K
MEDIAN: $33,945
10%
50%
75%
90%

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$9.99 - $18.79
(Median)
10
12
14
16
19
MEDIAN: $14.00
10%
25%
50%
75%
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$21K$42K$63K
Salary
$23,617 - $60,384  
   
Bonus
$0.00 - $10,273  
Profit Sharing
$100.67 - $7,251  
Commission
$544 - $20,664  
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).
)
$23,272 - $57,638  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 414
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
$9.99 - $18.79  
   
Overtime
$0.00 - $27.29  
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 - $10,273  
   
Commission
$544 - $20,664  
Profit Sharing
$100.67 - $7,251  
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).
)
$23,272 - $57,638  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 270
United States (change)

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


State Farm Insurance Company, Allstate, Allstate Insurance Company, Liberty Mutual Insurance Group, and Usaa Insurance are some prominent firms with considerable interest in employing a large team of Insurance Sales Representatives. Liberty Mutual Insurance Group offers the largest salaries in town ($58K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $26K to $84K.

With a median employee salary of $26K, Allstate Insurance Company pays significantly less than its competitors (less than half of the top paying company's rate).

Popular Skills for Insurance Sales Representative


Just a handful of professional skills are reported by Insurance Sales Representatives who took the survey. Fortunate workers who know Bilingual can expect a significant pay bump, scoring salaries 25 percent above average. For most people, competency in Customer Service indicates knowledge of Insurance.

Pay by Experience Level for Insurance Sales Representative

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


Experience and pay tend to be weakly linked for Insurance Sales Representatives — those with more experience do not necessarily bring in higher earnings. Relatively untried employees who have less than five years' experience make $31K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $38K. Insurance Sales Representatives see a median salary of $39K after reaching one to two decades on the job. As Insurance Sales Representatives reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $41K.

Pay Difference by Location


Surpassing the national average by 51 percent, Insurance Sales Representatives in Las Vegas receive some of the highest pay in the country. Insurance Sales Representatives can also look forward to large paychecks in cities like Pittsburgh (+43 percent), Dallas (+24 percent), Atlanta (+16 percent), and Phoenix (+13 percent). Insurance Sales Representatives in Birmingham earn salaries far below the national average by 26 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Below-median salaries also turn up in Philadelphia and Houston (13 percent lower and 11 percent lower, respectively).

Related Job Salaries

Experience Affects Insurance Sales Representative Salaries




National Average
$34,000


Skills That Affect Insurance Sales Representative Salaries

Bilingual
up arrow 25%

Sales
up arrow 3%

National Average
$34,000

Insurance
up arrow 1%

Customer Service
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 137 votes.

Gender

Female
71 %
Male
29 %

Years of Experience

Less than 1 year
7%
1-4 years
45%
5-9 years
21%
10-19 years
18%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 47% dental benefits Dental: 35%
vision benefits Vision: 29% employee benefits None: 51%