Avg. Base Salary (USD)
The average salary for an Insurance Broker is $51,670 in 2023
What is the Pay by Experience Level for Insurance Brokers?
An early career Insurance Broker with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $62,271 based on 212 salaries. A mid-career Insurance Broker with 5-9 years of experience earns an average total compensation of $78,186 based on 194 salaries. An experienced Insurance …Read more
What Do Insurance Brokers Do?
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 …Read more
FAQs About Insurance Brokers
What is the highest pay for Insurance Brokers?
Our data indicates that the highest pay for an Insurance Broker is $75k / year
What is the lowest pay for Insurance Brokers?
Our data indicates that the lowest pay for an Insurance Broker is $35k / year
How can Insurance Brokers increase their salary?
Increasing your pay as an Insurance Broker is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are an Insurance Broker that oversees more junior Insurance Brokers, this experience can increase the likelihood to earn more.