The average salary for an Insurance Broker is $61,363.
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$36k - $125k
$991 - $25k
$388 - $50k
$253 - $49k
$32k - $129k
Your Market Worth Over Time
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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. Insurance brokers provide insurance quotes via phone, online, or in-person. They must assess consumers’ individual needs prior to providing quotes and may need to conduct valuations of properties or businesses to be insured. They may also take photographs, obtain inspection reports, and compare cov…Read more
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
The top respondents for the job title Insurance Broker are from the companies Marsh, Inc., Willis Towers Watson and AON Inc. Reported salaries are highest at Willis Group Ltd where the average pay is $95,000. Other companies that offer high salaries for this role include AON Corporation and Marsh, Inc., earning around $92,903 and $84,180, respectively. Marsh & Mclennan Companies Inc pays the lowest at around $66,666. Burns and Wilcox, Ltd. and AON Inc also pay on the lower end of the scale, paying $73,056 and $73,511, respectively.
Explore the most common career paths for Insurance Broker. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Insurance Broker Job Listings
Popular Skills for Insurance Broker
Skills in Insurance, Customer Relationship Management (CRM) and Account Management are correlated to pay that is above average. Skills that pay less than market rate include Customer Service and Sales.
Pay by Experience Level for Insurance Broker
An entry-level Insurance Broker with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $48,090 based on 52 salaries. An early career Insurance Broker with 1-4 years of experience earns an average total compensation of $53,772 based on 490 salaries. A mid-career Insurance Broker with 5-9 years of experience earns an average total compensation of $64,686 based on 306 salaries. An experienced Insurance Broker with 10-19 years of experience earns an average total compensation of $73,303 based on 351 salaries. In their late career (20 years and higher), employees earn an average total compensation of $88,116.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Insurance Broker in their job title in Los Angeles, California earn an average of 36.5% more than the national average. These job titles also find higher than average salaries in New York, New York (29.3% more) and San Francisco, California (21.2% more). The lowest salaries can be found in Atlanta, Georgia (5.8% less).
Years of Experience
This data is based on 1,434 survey responses.
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