The average pay for an Insurance Sales Agent is $14.24 per hour.
The average pay for an Insurance Sales Agent is $36,678 per year.
Job Description
An insurance sales agent is a person who helps individuals choose a policy that most closely fits their needs. The sales agent will typically represent and work for an individual company, but independent agents who represent many smaller insurance entities exist as well. In any event, these sales-oriented employees help to match up individuals with home, car, and life insurance policies that offer acceptable coverage to the consumer and provide a profit to the company. In some cases, the sales agent may also be the first contact when an insured person needs to file a claim.
Read More...Known for taking on a considerable number of Insurance Sales Agents, State Farm Insurance Company, Allstate, Farmers Insurance Group, Geico, and Allstate Insurance Company are leading firms in the industry. Heading up the field in terms of compensation, Liberty Mutual Insurance Group offers the most; Insurance Sales Agents earn $60K on average there. Other leaders in compensation levels are New York Life Insurance Company at $59K, Usaa Insurance at $46K, and Humana, Inc., where Insurance Sales Agents annually earn $45K.
Other low-paying employers include All State at $31K and Allstate at $32K, though some Insurance Sales Agents there earn up to $49K.
Common Career Paths
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Insurance Sales Agents' salaries may rise greatly for those who assume a higher-end position such as an Insurance Broker. The average Insurance Broker brings home $58K per year. An Insurance Sales Agent may also move into a role as an Insurance Agent or an Insurance Office Branch Manager.
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Popular Skills
Survey results imply that Insurance Sales Agents deploy a deep pool of skills on the job. Most notably, facility with Field Sales, Sales Management, and Marketing Communications are correlated to pay that is significantly above average, leading to increases of 42 percent, 7 percent, and 5 percent, respectively. Skills that pay less than market rate include Office Administration, Spanish Language, and Customer Service. For most people, competency in Insurance indicates knowledge of Customer Service.
Pay by Experience Level
Pay by Experience for an Insurance Sales Agent has a positive trend. An entry-level Insurance Sales Agent with less than 5 years of experience can expect to earn an average total compensation of $32,000 based on 1,175 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Insurance Sales Agent with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $38,000 based on 391 salaries. An experienced Insurance Sales Agent which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $42,000 based on 347 salaries. An Insurance Sales Agent with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $46,000 based on 165 salaries.
Pay Difference by Location
For Insurance Sales Agents, busy New York offers a higher-than-average pay rate, 35 percent above the national average. Insurance Sales Agents will also find cushy salaries in Phoenix (+33 percent), Los Angeles (+19 percent), Charlotte (+13 percent), and Indianapolis (+11 percent). Place of residence plays a huge part in an Insurance Sales Agent's salary, with Corpus Christi Insurance Sales Agents earning salaries that are 20 percent less than the national average. Orlando and Atlanta are a couple other places where companies are known to pay below the median — salaries tend to be 7 percent less than the median.
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Gender
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Female
67 % |
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Male
33 % |
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Job Satisfaction
| Highly satisfied |
Rated 4 out of 5 based on 459 votes. |
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