Agents -
Compare your Earnings with Industry Averages..
According
to the Bureau of Labor Statistics, the median annual
earnings (wages & salary) of insurance agents in May
2004 was around $41,720.
The lowest 10%
on the scale earned $23,170 or less. And the highest
10% earned $108,800 or more.
Agents are normally
paid in one of 3 ways - salary
only, salary plus commission, or salary plus bonus.
Of course, the more experienced and successful agents
make a few hundred thousand dollars per year. On the
other hand, most independent sales agents own their
own businesses and are paid a commission only.
How does
this rank with other colleagues
in the business? And how does this rank with other
industries.
The Bureau of Labor
Statistics reports (median) salary ranges in the
insurance industry as follows:
- Actuary $28,300-65,500
- Agent/Broker $14,900-58,700
- Claims
Adjuster $24,500-42,000
- Underwriter $25,000-61,000
Here is a detailed chart sourced from
BLS, median annualized earnings.
| Occupation |
Insurance |
All industries |
| General and operations managers |
$99,697.20 |
$74,737.76 |
| Computer systems analysts |
$64,436.72 |
$64,155.60 |
| Accountants and auditors |
$48,894.80 |
$49,015.28 |
| Insurance underwriters |
$46,926.96 |
$46,866.72 |
| First-line supervisors/managers of
office and administrative support workers |
$46,585.60 |
$39,597.76 |
| Claims adjusters, examiners, and
investigators |
$42,830.64 |
$42,690.08 |
| Insurance sales agents |
$40,441.12 |
$40,280.48 |
| Executive secretaries and administrative
assistants |
$35,481.36 |
$33,754.48 |
| Customer service representatives |
$28,352.96 |
$26,083.92 |
| Insurance claims and policy processing
clerks |
$28,152.16 |
$28,232.48 |
|
