C$43,578
Avg. Salary
C$18.28
Avg. Hourly Rate

Average additional compensation:

C$1,955

Bonus

C$1,437

Profit Sharing

C$2,922

Commission

What am I worth?
How should I pay?

The average pay for an Insurance Broker is C$18.28 per hour.

The average pay for an Insurance Broker is C$43,578 per year.

C$13.96
10%
C$18.28
50%
C$25.48
90%
MEDIAN C$18.28
C$32k
10%
C$44k
50%
C$60k
90%
MEDIAN C$43,578
C$31,715 - C$59,774
C$32K
C$44K
C$60K
MEDIAN: C$43,578
10%
50%
90%
C$13.96 - C$25.48
C$14
C$18
C$25
MEDIAN: C$18.28
10%
50%
90%
C$0C$61K
Salary C$31,715 - C$59,774
Bonus C$396 - C$5,146
Profit Sharing C$35.00 - C$5,034
Commission C$195 - C$10,464
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).
)
C$31,841 - C$61,369
  • Country: Canada
  • Currency: CAD
  • Updated: 3 Dec 2018
  • Individuals Reporting: 2,036
Hourly Data C$0C$51
Hourly Rate C$13.96 - C$25.48
Overtime C$1.53 - C$51.39
Annual Data C$0C$61K
Bonus C$396 - C$5,146
Commission C$195 - C$10,464
Profit Sharing C$35.00 - C$5,034
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).
)
C$31,841 - C$61,369
  • Country: United States
  • Currency: CAD
  • Updated: 3 Dec 2018
  • Individuals Reporting: 430

Job Description for Insurance Broker

Insurance brokers often work as agents of large insurance companies or independently; in either case, they work directly with clients and must have necessary licenses in their states of employment.

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Insurance Broker Tasks

  • May refer clients to independent brokers, work as independent broker, or be employed by an insurance company.
  • Sell life, property, casualty, health, automotive, or other types of insurance.

Popular Employer Salaries for Insurance Broker

Common Career Paths for Insurance Broker


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Insurance Broker Job Listings

Popular Skills for Insurance Broker

Pay by Experience Level for Insurance Broker

Pay by Experience for an Insurance Broker has a positive trend. An entry-level Insurance Broker with less than 5 years of experience can expect to earn an average total compensation of C$37,000 based on 558 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Broker with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of C$45,000 based on 362 salaries. An experienced Insurance Broker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of C$49,000 based on 325 salaries. An Insurance Broker with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of C$52,000 based on 165 salaries.

Pay Difference by Location

25%

22%

17%

17%

14%

-3%

-5%

-5%

-12%

-22%

National Average: C$43,786

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

Insurance Broker Advice

Q: What is it like working as an Insurance Broker?

Insurance Broker in Moncton:
"That working hard does not always mean you get the best pay."
Ask as many questions as you can and never stop learning. Keep on top of your work.

Insurance Broker in Peterborough:
"Get your education."
This industry is hush hush about who makes what for salary. It's not discussed and not allowed to be discussed. Get your education right away CAIB or/and CIP if you think you are going to go the direction of Underwriting. Go for interviews at other brokerages to see their reaction to your salary request. Negotiation of your wage is the only way that you will get a salary increase, there is no pay scale so you never really know what you are shooting for. The stress is high and the expectations are high.

Insurance Broker in Yorkton:
Pros: Benefits and flexibility. Good office conditions.
Cons: Communitcation with Head Office is not as expected.

Insurance Broker in Ottawa:
"More commercial knowledge."
Get more knowledge of insurance products.

Insurance Broker in Winnipeg:
"Management is new and not at all knowledgable."
Pros: Nothing.
Cons: Manager has no knowledge of day to day operations of the branch. No effort is made to understand and the said individual requires appropriate education and training to fully understand the position and responsibilities of the employees being managed.

Insurance Broker in Vancouver:
"Educated Customer Service"
Pros: Every day there are new situations, no two days will be exactly the same. You will be continually presented with new situations that require research and discussion to provide the best coverage for your client.
Cons: As with any retail customer service position, you will get your share of unhappy and never pleased customers. Insurance is seen as a necessary evil, so a lot of people do not relish the fact that they need to purchase it.

Insurance Broker in Powell River:
"Caring for my clients"
Pros: Providing advice to people on how to protect their assets, and making sure the right coverage is selected. Work with many great people in the industry and in my office. Always learning and growing. Meeting new people.
Cons: Some customers still do not see the value in insurance, and feel as though they are ripped off. Having to explain escalating premiums to these types of people can be difficult. Dealing with good and bad people with problems regarding their insurance always a challenge, because as a broker there is at some times a limit on how much assistance we can provide to the client.

Related Job Salaries

Key Stats for Insurance Broker

Gender

Female
80 %
Male
20 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 458 votes.
Less than 1 year
3%
1-4 years
37%
5-9 years
23%
10-19 years
23%
20 years or more
14%

Experience Affects Insurance Broker Salaries

▲19%

▲12%

▲4%

National Average
C$44,000

▼14%

Skills That Affect Insurance Broker Salaries

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 458 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
3%
1-4 years
37%
5-9 years
23%
10-19 years
23%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 80%
dental benefits
Dental: 72%
vision benefits
Vision: 51%
no benefits
None: 19%