£25,494
Avg. Salary

Average additional compensation for this job:

Bonus

£2,072

Profit Sharing

£500

Commission

£2,928

An Insurance Broker earns an average salary of £25,867 per year. Experience has a moderate effect on pay for this job. A skill in Negotiation is associated with high pay for this job. Most people move on to other jobs if they have more than 20 years' experience in this career.

£16,297 - £50,059
£16K
£25K
£50K
MEDIAN: £25,494
10%
50%
90%
£5.58 - £12.33
£5
£7
£12
MEDIAN: £7.83
10%
50%
90%
£0£53K
Salary £16,297 - £50,059
Bonus £494 - £11,776
Profit Sharing £0.00 - £29,590
Commission £103 - £10,193
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).
)
£16,574 - £53,297
  • Country: United Kingdom
  • Currency: GBP
  • Updated: 4 Aug 2018
  • Individuals Reporting: 638
Hourly Data £0£12
Hourly Rate £5.58 - £12.33
Overtime £12.00
Annual Data £0£53K
Bonus £494 - £11,776
Commission £103 - £10,193
Profit Sharing £0.00 - £29,590
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).
)
£16,574 - £53,297
  • Country: United States
  • Currency: GBP
  • Updated: 4 Aug 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

National Average: £26,001

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 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
40 %
Male
60 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.
Less than 1 year
4%
1-4 years
40%
5-9 years
24%
10-19 years
20%
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 16 votes.

Gender

Female
40 %
Male
60 %

Years of Experience

Less than 1 year
4%
1-4 years
40%
5-9 years
24%
10-19 years
20%
20 years or more
11%

Common Health Benefits

medical benefits
Medical: 45%
dental benefits
Dental: 11%
vision benefits
Vision: 15%
no benefits
None: 49%