$35,444
Avg. Salary
$14.14
Avg. Hourly Rate

Average additional compensation:

$2,052

Bonus

$1,600

Profit Sharing

$5,179

Commission

What am I worth?
How should I pay?

The average pay for an Insurance Producer is $14.14 per hour.

The average pay for an Insurance Producer is $35,444 per year.

10%
$10.30
10%
$14.14
50%
$18.70
90%
90%
MEDIAN $14.14
10%
$22k
10%
$35k
50%
$70k
90%
90%
MEDIAN $35,444
$21,815 - $70,379
$22K
$35K
$70K
MEDIAN: $35,444
10%
50%
90%

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$10.30 - $18.70
$10
$14
$19
MEDIAN: $14.14
10%
50%
90%

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$0$70K
Salary $21,815 - $70,379
Bonus $313 - $14,460
Profit Sharing $0.00 - $10,067
Commission $1,002 - $23,859
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).
)
$23,680 - $66,268
  • Country: United States
  • Currency: USD
  • Updated: 16 Apr 2019
  • Individuals Reporting: 1,089
Hourly Data $0$23
Hourly Rate $10.30 - $18.70
Hourly Tips $5.00
Overtime $10.64 - $23.18
Annual Data $0$66K
Bonus $313 - $14,460
Commission $1,002 - $23,859
Profit Sharing $0.00 - $10,067
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).
)
$23,680 - $66,268
  • Country: United States
  • Currency: USD
  • Updated: 16 Apr 2019
  • Individuals Reporting: 677

Job Description for Insurance Producer

Insurance producers are licensed and trained in sales and customer service, and they are responsible for selling insurance and insurance-related products to prospective clients. Additionally, insurance producers must ensure that the policies they offer comply with all insurance regulations, maintain a knowledge of all commercially available products and monitor all clients' insurance policies to be sure that the highest level of service is provided. Insurance producers must also maintain excellent relationships with current clients, which may help secure new client referrals; this includes resolving any client issues and claims quickly and efficiently.

Read More...
Insurance Producer Tasks
  • Sell insurance policies to businesses or individuals.
  • Utilize referrals, phone calls, mailings, and other forms of advertising to generate new customers.
  • Process the paperwork to enroll customers in policies and calculate premiums.
  • Explain insurance policies to customers and help them customize policies to fit their needs.

Popular Employer Salaries for Insurance Producer


State Farm Insurance Company, Allstate, Farmers Insurance Group, Allstate Insurance Company, and American Family Insurance Group are all popular places to work. Heading up the field in terms of compensation, Arthur J. Gallagher & Company offers the most; Insurance Producers earn $80K on average there.

Salaries are easily beat at Farmers Insurance Group, where median pay comes to just $29K, the lowest in the field. What's more, with base pay starting at $24K and ending at $39K, range in salary is rather small.

Insurance Producer Job Listings

Popular Skills for Insurance Producer


Survey participants wield an impressively varied skill set on the job. Most notably, facility with Strategic Sales and Sales Management are correlated to pay that is significantly above average, leading to increases of 78 percent and 20 percent, respectively. Skills that pay less than market rate include Inside Sales, Spanish Language, and licensed. Those educated in Insurance tend to be well versed in Customer Service.

Pay by Experience Level for Insurance Producer

Pay by Experience for an Insurance Producer has a positive trend. An entry-level Insurance Producer with less than 5 years of experience can expect to earn an average total compensation of $31,000 based on 548 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Producer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $37,000 based on 196 salaries. An experienced Insurance Producer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $40,000 based on 176 salaries. An Insurance Producer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $49,000 based on 75 salaries.

Pay Difference by Location

80%

77%

43%

25%

-7%

National Average: $35,066

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

Seattle offers some of the highest pay in the country for Insurance Producers, 87 percent above the national average. Insurance Producers will also find cushy salaries in Cleveland (+86 percent), New York (+84 percent), Denver (+49 percent), and Boston (+44 percent). Insurance Producers' salaries are heavily influenced by location — Insurance Producers in Las Vegas bring in salaries that are 23 percent lower than the national average. Below-median salaries also turn up in Indianapolis and Charlotte (13 percent lower and 7 percent lower, respectively).

Related Job Salaries

Key Stats for Insurance Producer

Gender

Female
72 %
Male
28 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 379 votes.
Less than 1 year
6%
1-4 years
48%
5-9 years
18%
10-19 years
18%
20 years or more
10%

Experience Affects Insurance Producer Salaries

▲41%

▲14%

▲5%

National Average
$35,000

▼13%

Skills That Affect Insurance Producer Salaries

Strategic Sales
▲71%

Sales Management
▲16%

National Average
$35,000


▼2%


Insurance
▼5%


Office Management
▼6%

Spanish Language
▼12%

licensed
▼12%

Inside Sales
▼21%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 379 votes.

Gender

Female
72 %
Male
28 %

Years of Experience

Less than 1 year
6%
1-4 years
48%
5-9 years
18%
10-19 years
18%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 34%
dental benefits
Dental: 22%
vision benefits
Vision: 18%
no benefits
None: 65%