The average pay for an Insurance Broker in Hamilton, Ontario is C$40,695 per year. A skill in Sales is associated with high pay for this job. For the first five to ten years in this position, salary increases somewhat, but any additional experience does not have a big effect on pay.

C$30,229 - C$62,460
C$30K
C$41K
C$62K
MEDIAN: C$41,356
10%
50%
90%
C$0C$72K
Salary C$30,229 - C$62,460
Bonus C$5,000
Profit Sharing C$500
Commission C$12,500
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$31,138 - C$72,719
  • Country: Canada
  • Currency: CAD
  • Updated: 18 Jan 2018
  • Individuals Reporting: 32

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.

Insurance Broker Job Listings

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$38,000 based on 6 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$44,000 based on 15 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$44,000 based on 6 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$45,000 based on 6 salaries.

Key Stats for Insurance Broker

Gender

Female
85 %
Male
15 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 6 votes.
Less than 1 year
3%
1-4 years
24%
5-9 years
9%
10-19 years
45%
20 years or more
18%

Experience Affects Insurance Broker Salaries

Mid-Career
▲2%

Late-Career
▲2%

Experienced
▲1%

National Average
C$43,000

Entry-Level
▼14%

Skills That Affect Insurance Broker Salaries

Sales
▲15%

Customer Service
▲5%

Customer Relations
▲4%

Insurance
▲4%

National Average
C$43,000

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 6 votes.

Gender

Female
85 %
Male
15 %

Years of Experience

Less than 1 year
3%
1-4 years
24%
5-9 years
9%
10-19 years
45%
20 years or more
18%

Common Health Benefits

medical benefits
Medical: 74%
dental benefits
Dental: 65%
vision benefits
Vision: 30%
no benefits
None: 26%