What is the average salary for an insurance agent? The insurance industry is a highly profitable business. Many people get into it due to the good pay, but there are some risks involved with insurance as well. When looking for an average salary for an insurance agent, you must break down the numbers by geographical location and age of the agents in that region.
The average salary for an insurance agent varies widely depending on where they live, the type of policy they sell, and whether or not they are self-employed.
In 2015, insurance agents working in the United States earned an average salary of $61,220 per year. This number takes into account both full-time and part-time workers. The median wage for insurance agents is $54,000 per year.
Insurance agents who work in the Midwest tend to make more than those who work elsewhere in the country: $63,527 in Illinois and $62,000 in Minnesota. Those who work in Florida tend to make less than other states: $58,000 per year in Florida compared with as much as $70,000 per year in other states such as New Hampshire or North Dakota.
what is the average salary for an insurance agent
Introduction
Insurance agents help people make decisions regarding their insurance coverage. They sell entire policies and/or assist with an existing policy. Insurance agents may work for a single insurance company or have a contract to sell multiple lines of insurance from various companies.
The average salary for an insurance agent is $48,824.
The average salary for an insurance agent is $48,824. This number varies according to company size and location. For example, the average salary for an insurance agent working in Chicago, Illinois is $49,700 while the same job title in Los Angeles, California pays $52,774 on average.
In addition to geographic location, factors such as gender and age can affect your earnings potential as an insurance agent. Women typically earn less than men but still make more than those who are unemployed or retired. Those who are under age 35 tend to earn less than their older counterparts but still earn more than students or those who work part-time jobs outside of the industry altogether
Public speaking, listening and negotiation are important traits for an insurance agent.
Being able to communicate effectively is an important trait for insurance agents. They need to be able to explain the products they are selling, and they must also be good listeners. They should have a natural curiosity about their customers in order to understand what types of coverage will work best for them. Another important quality is negotiation skills; insurance agents must negotiate with their clients on behalf of their company in order to get them the best possible rates and terms, while still retaining customer satisfaction.
The average salary for an insurance agent is $56,860 per year
Communication skills, organization and commercial awareness are other important attributes in this field.
Communication skills, organization and commercial awareness are other important attributes in this field.
- Communication skills: You need to be able to communicate effectively with people from different backgrounds and cultures throughout your career as an insurance agent.
- Organization: An organized individual is always preferred by an employer because he/she can easily take decisions quickly which helps the company in meeting deadlines.
- Commercial awareness: This is also another important skill required for insurance agents as they deal with customers who come from different industries or sectors so it becomes essential for them to know about various types of businesses, products, services and how they work together in order to sell them properly to clients.
The highest-paid 10 percent earn more than $117,000 per year.
The highest-paid 10 percent of insurance agents earn more than $117,000 per year. The lowest-paid 10 percent earn less than $28,000 per year. The average salary for an insurance agent is $48,824 per year. This figure is higher than the nationwide mean for all occupations ($44,190).
The lowest-paid 10 percent earn less than $28,000 per year.
The lowest-paid 10 percent of insurance agents earn less than $28,000 per year. The highest-paid 10 percent earn more than $117,000 per year.
Insurance agents can make a good living
If you’re interested in becoming an insurance agent, there’s no need to worry about your salary. Insurance agents can make a good living, earning a median annual wage of $62,190 as of May 2018. A small number of agents earn over $200,000 annually.
Conclusion
With the right skills and training, insurance agents can definitely earn a good living for themselves. In addition to having the proper schooling and training, it is important for these professionals to have strong communication skills in order to keep their clients satisfied with their services.
