$60,343
Avg. Salary
$16.15
Avg. Hourly Rate

Average additional compensation:

$4,925

Bonus

$3,250

Profit Sharing

$9,887

Commission

What am I worth?
How should I pay?

The average pay for an Insurance Broker is $16.15 per hour.

The average pay for an Insurance Broker is $60,343 per year.

$10.60
10%
$16.15
50%
$25.24
90%
MEDIAN $16.15
$34k
10%
$60k
50%
$126k
90%
MEDIAN $60,343
$34,412 - $125,503
$34K
$60K
$130K
MEDIAN: $60,343
10%
50%
90%

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$10.60 - $25.24
$11
$16
$25
MEDIAN: $16.15
10%
50%
90%

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$0$131K
Salary $34,412 - $125,503
Bonus $958 - $24,852
Profit Sharing $0.00 - $48,479
Commission $294 - $61,635
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).
)
$31,215 - $131,356
  • Country: United States
  • Currency: USD
  • Updated: 18 Jan 2019
  • Individuals Reporting: 1,225
Hourly Data $0$44
Hourly Rate $10.60 - $25.24
Hourly Tips $1.01
Overtime $15.11 - $44.89
Annual Data $0$131K
Bonus $958 - $24,852
Commission $294 - $61,635
Profit Sharing $0.00 - $48,479
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).
)
$31,215 - $131,356
  • Country: United States
  • Currency: USD
  • Updated: 18 Jan 2019
  • Individuals Reporting: 218

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.

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

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 $48,000 based on 369 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 $64,000 based on 191 salaries. An experienced Insurance Broker which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $72,000 based on 194 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 $97,000 based on 128 salaries.

Pay Difference by Location

51%

50%

28%

18%

16%

-7%

National Average: $59,460

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 Washington:
"Very busy."
Pros: Working with different clients and conworkers
Cons: The pay and focus on perception

Insurance Broker:
Overall great company to work for. The management layers are the worst part of working at Bradtrud Middleton. There is too much micro managing going on. The culture is pretty steady, there can be a lot of back stabbing but if you correspond with the positive employees the day can be pretty great. The company needs to allow for employees to have specific work from home days or at least a flexible schedule. The current management does not promote growth.

Insurance Broker in Franklin:
"Good."
Pros: Good environment.
Cons: Na.

Insurance Broker in Chicago:
"Fantastic."
Pros: Flexible Work Environment, Deep Bench, Opportunities for Growth, Strategic Thinking.
Cons: Can feel too big. Difficult to navigate internally w/o years of experience in the firm.

Insurance Broker in Boston:
"Corporate Culture."
Pros: Resources, colleagues, clients, flexibility, opportunity, local and senior management.
Cons: Stress, hours, pressure, compensation.

Insurance Broker in Atlanta:
Pros: People I work with.
Cons: Pay and vacation benefits below industry average.

Related Job Salaries

Key Stats for Insurance Broker

Gender

Female
55 %
Male
45 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 237 votes.
Less than 1 year
4%
1-4 years
35%
5-9 years
21%
10-19 years
24%
20 years or more
16%

Experience Affects Insurance Broker Salaries

▲64%

▲22%

▲8%

National Average
$59,000

▼19%

Skills That Affect Insurance Broker Salaries


▲6%



▲2%

▼0%

National Average
$59,000

Sales Management
▼4%


Data Analysis
▼16%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 237 votes.

Gender

Female
55 %
Male
45 %

Years of Experience

Less than 1 year
4%
1-4 years
35%
5-9 years
21%
10-19 years
24%
20 years or more
16%

Common Health Benefits

medical benefits
Medical: 71%
dental benefits
Dental: 58%
vision benefits
Vision: 49%
no benefits
None: 27%