£25,404
Avg. Salary
£7.83
Avg. Hourly Rate

Average additional compensation for this job:

Bonus

£2,358

Profit Sharing

£750

Commission

£2,750

The average pay for an Insurance Broker is £7.83 per hour.

The average pay for an Insurance Broker is £25,404 per year.

$6
10%
$8
50%
$12
90%
MEDIAN $8
$16k
10%
$25k
50%
$50k
90%
MEDIAN $25,404
£16,256 - £50,353
£16K
£25K
£50K
MEDIAN: £25,404
10%
50%
90%
£5.58 - £12.33
£5
£7
£12
MEDIAN: £7.83
10%
50%
90%
£0£53K
Salary £16,256 - £50,353
Bonus £496 - £11,836
Profit Sharing £0.00 - £29,799
Commission £150 - £10,174
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).
)
£16,543 - £53,722
  • Country: United Kingdom
  • Currency: GBP
  • Updated: 13 Oct 2018
  • Individuals Reporting: 639
Hourly Data £0£13
Hourly Rate £5.58 - £12.33
Overtime £13.50
Annual Data £0£53K
Bonus £496 - £11,836
Commission £150 - £10,174
Profit Sharing £0.00 - £29,799
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).
)
£16,543 - £53,722
  • Country: United States
  • Currency: GBP
  • Updated: 13 Oct 2018
  • Individuals Reporting: 11

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 ₤25,000 based on 180 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 ₤28,000 based on 105 salaries. An experienced Insurance Broker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of ₤32,000 based on 72 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 ₤37,000 based on 35 salaries.

Pay Difference by Location

28%

National Average: £25,957

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

Insurance Broker Reviews

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

Insurance Broker in London:
"Broker."
Pros: Fun, dynamic, challenging, big business, drinking.
Cons: Long hours, expensive, stressful, competitive,

Insurance Broker in London:
"Not too bad."
Pros: We have a lot of freedom and I enjoy the sector I work in immensely.
Cons: I often feel undervalued and the company can have an extremely corporate feel about it. Small fish, big pond, as it were.

Insurance Broker in Chelmsford:
"Hard, exciting, stressful, target driven."
Pros: Closing a deal.
Cons: Salary.

Insurance Broker in London:
"Interesting, Challenging, Fun, Sociable."
Pros: It's a fun working environment for a young professional. Regular contact with similarly minded people. Very sociable within Lloyd's market.
Cons: Can be stressful, with occasional long hours in order to meet deadlines.

Related Job Salaries

Key Stats for Insurance Broker

Gender

Female
41 %
Male
59 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 13 votes.
Less than 1 year
5%
1-4 years
41%
5-9 years
24%
10-19 years
19%
20 years or more
11%

Experience Affects Insurance Broker Salaries

Late-Career
▲41%

▲25%

▲9%

National Average
₤26,000

▼4%

Skills That Affect Insurance Broker Salaries

Negotiation
▲54%

▲4%

Customer Relationship Management (CRM)
▲4%

▼0%

National Average
₤26,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 13 votes.

Gender

Female
41 %
Male
59 %

Years of Experience

Less than 1 year
5%
1-4 years
41%
5-9 years
24%
10-19 years
19%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 45%
dental benefits
Dental: 12%
vision benefits
Vision: 15%
no benefits
None: 50%