Insurance Sales Agents Salary 2017: How Much Money Do They Make

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hourly pay for Insurance Sales Agents
do Insurance Sales Agents make a lot of money

Insurance Sales Agents

Other names for this job might include Account Executive, Account Leader, Account Manager, Account Representative, Account Specialist, Accounts Executive, Agent, Bond Writer, Broker, Burial Agent


  • $67760
    Salary
  • 67%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Medium
    Job growth
OwlGuru Rank

C+



How Much Successful Insurance Sales Agents Make In 2017


In this salary guide, you will find out how much do Insurance Sales Agents make.

After reading this, you will be able to make a decision if working as an Insurance Sales Agent will suit your financial goals (e.g: buying a home, BMW or just your target salary goal).



Average salary

Annual salary
$67760 per year

Hourly wage
$32.580 per hour


1 of the most popular questions we get from our readers here at OwlGuru is how much do Insurance Sales Agents make per year and what is their hourly wage.

According to BLS, the average annual salary of Insurance Sales Agents is $67760. Their salary can also be as low as $27430 if you’re still a newbie with no experience to over $128070 if you have a ton of experience under your belt.

The typical hourly pay is $32.580 and can range from $13.190 to $61.570 which also depends if you’re a newbie or a professional.

Just like any other job, the salary of An Insurance Sales Agent will vary based on your education and experience level.

# = Over $100 per hour or $200,000 per year.
Salary rank
B

We wanted to make it easy for our readers to compare the salary of An Insurance Sales Agent to all the other careers out there. So we created Salary Rank.

This compares the salary of all careers and we give them a rank of A, B, C or D depending on how high or low is their average salary.

After comparing how much do Insurance Sales Agents make with other careers, they have a salary rank of B.



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Salary range

LevelHourlyYearly
Highest (Top 10%)$61.570$128070
Senior (Top 25%)$37.090$77140
Middle (Mid 50%)$24.030$49990
Junior (Bottom 25%)$17.070$35500
No experience (Bottom 10%)$13.190$27430


Entry-level Insurance Sales Agents who starts out at $35500 can expect to make $49990 after 3-5 years of experience in the field.

The bottom 10% makes less than $13.190 per hour while the top 10% makes over $61.570 per hour.

While the median wage is $49990 per annum or $24.030 per hour.

Depending on who you work for, you might also get overtime pay.

# = Over $100 per hour or $200,000 per year.


Highest paying industries

Industry nameHourly wageAnnual salary
Securities and Commodity Contracts Intermediation and Brokerage46.897340
Wholesale Electronic Markets and Agents and Brokers37.0176990
Other Insurance Related Activities35.8574570
Wholesale Trade35.3773570
Management of Companies and Enterprises33.7670220
Accounting, Tax Preparation, Bookkeeping, and Payroll Services32.6467890
Office Administrative Services31.264900
Depository Credit Intermediation30.9764420
Insurance Carriers and Related Activities30.763860
Agencies, Brokerages, and Other Insurance Related Activities30.763860
Insurance Carriers30.763850
Finance and Insurance30.6863810
All industries, private ownership only30.6463740
All industries30.6463730
Employment Services30.4863410
Insurance Agencies and Brokerages30.4763390
Nondepository Credit Intermediation30.4363300
Credit Intermediation and Related Activities30.2862980
Management, Scientific, and Technical Consulting Services29.7961970
Securities, Commodity Contracts, and Other Financial Investments and Related Activities29.6961760
Ambulatory Health Care Services28.8159920
Funds, Trusts, and Other Financial Vehicles28.6859650
Insurance and Employee Benefit Funds28.6859650
Direct Insurance (except Life, Health, and Medical) Carriers28.4859240
Local Government, excluding schools and hospitals28.3859020
Federal, State, and Local Government28.3558970
Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service28.3558970
Other Financial Investment Activities28.2958850
Outpatient Care Centers28.2958840
Computer Systems Design and Related Services28.1858610
Professional, Scientific, and Technical Services28.1658570
Religious, Grantmaking, Civic, Professional, and Similar Organizations27.9558140
Business, Professional, Labor, Political, and Similar Organizations27.9558140
Activities Related to Credit Intermediation27.4857150
Other Services (except Federal, State, and Local Government)27.2756730
Sector 56- Administrative and Support and Waste Management and Remediation Services26.4254960
Administrative and Support Services26.4254960
Travel Arrangement and Reservation Services26.1954470
Health Care and Social Assistance (including private, state, and local government hospitals)26.0854240
Other Nondepository Credit Intermediation25.3952810
Real Estate and Rental and Leasing2551990
Real Estate2551990
Hospitals, Privately owned24.9451880
General Medical and Surgical Hospitals, Privately owned24.9451880
Legal Services24.2850510
Hospitals (including private, state, and local government hospitals)2449920
General Medical and Surgical Hospitals (including private, state, and local government hospitals)2449920
Personal and Laundry Services22.7647340
Death Care Services22.7647340
Other Motor Vehicle Dealers21.0743820
Motor Vehicle and Parts Dealers19.4840510
Retail Trade18.9739460
Automobile Dealers18.939300
Business Support Services18.0337500
Telephone Call Centers18.0337500

Not all industries pay the same for Insurance Sales Agents.

1 of the easiest way to increase your salary is to change industries and find a higher paying one.



Highest paying states

StateHourlyAnnual
MN$45.21$94040
NY$39.68$82540
MA$37.58$78160
WI$36.78$76500
CA$35.78$74420
PA$34.82$72430
NJ$34.31$71370
RI$33.71$70110
HI$33.28$69230
CT$32.93$68490

Another simple way to boost your pay as An Insurance Sales Agent is to move to a higher paying state. However moving to a higher paying state like MN doesn’t mean you will make more overall. This is because the expenses at MN may be 2x higher than where you are currently living at right now.

According to the BLS, the highest paid / most successful Insurance Sales Agents are in the states of MN, NY, MA, WI and CA. The average salary in MN is $94040.



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Rank: B+
Salary: $103260

They sell financial services, such as loan, tax, and securities counseling to customers of financial institutions and business establishments.
Rank: A
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They evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
Rank: A+
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They advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients’ assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives.
Rank: B+
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They represent and promote artists, performers, and athletes in dealings with current or prospective employers. May handle contract negotiation and other business matters for clients.
Rank: C+
Salary: $67870

They write advertising copy for use by publication or broadcast media to promote sale of goods and services.





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Related to Insurance Sales Agents Salary

Insurance Sales Agents salary, how much do Insurance Sales Agents earn, Insurance Sales Agents hourly wage, Insurance Sales Agents annual pay, highest paying industries for Insurance Sales Agents, which states pay the highest for Insurance Sales Agents

Additional resources

http://www.bls.gov/OOH/sales/insurance-sales-agents.htm
http://www.pianet.org/
http://www.iii.org/
http://www.finra.org/

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Insurance Sales Agents
Written by: Stanley Tan
Insurance Sales Agents sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
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