Markel Assurance Salary
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Current Job Openings at Markel Assurance
Is Markel Assurance’s Pay Competitive? Salary Benchmarking Analysis
| Competitor / Benchmark | Avg. Salary | Variance | Primary Market Influence Factor & Explanation |
|---|---|---|---|
| Arkansas Valley Agency | $38 |
-20.9%
|
Typical compensation structure for smaller regional agencies like Arkansas Valley Agency. |
| Insurance Industry Committee Onmotor Vehicle Administration | $47 |
-1.9%
|
Confirms Insurance Industry Committee Onmotor Vehicle Administration is a direct competitor vying for the exact same talent pool. |
| Contact Cheney Insurance Group | $44 |
-8.6%
|
Contact Cheney Insurance Group likely leverages performance bonuses over the high base salary shown here. |
| Farmers Insurance Mark Ormond | $47 |
-1.7%
|
Aligns perfectly with prevailing regional benchmarks for this specific job family. |
| Insurance Industry | $60 |
+24.0%
|
Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors. |
Companies Similar to Markel Assurance and Their Hourly Pay Rates
Arkansas Valley Agency
$38 / hour
Salary Range: $33 - $43
Ozark, AR
Insurance Industry Committee Onmotor Vehicle Administration
$47 / hour
Salary Range: $41 - $53
Chicago, IL
Contact Cheney Insurance Group
$44 / hour
Salary Range: $39 - $50
Okawville, IL
Farmers Insurance Mark Ormond
$47 / hour
Salary Range: $42 - $53
Chicago, IL
Colemont Insurance Brokers Ltd
$48 / hour
Salary Range: $42 - $54
Chicago, IL
Newins Insurance Agency Holdings LLC
$48 / hour
Salary Range: $43 - $55
Downers Grove, IL
Insurance Brokerage House
$49 / hour
Salary Range: $43 - $55
Chicago, IL
Ohio Casualty Indiana
$49 / hour
Salary Range: $43 - $55
Oakbrook Terrace, IL
Sulife Assurance Of Canada
$48 / hour
Salary Range: $42 - $55
Westmont, IL
Employee Reviews: Working at Markel Assurance
Markel Assurance Overview
What Benefits Does Markel Assurance Offer Beyond Salary?
Get an estimated calculation of how much you should be earning and insight into your career options.
What Is the Cost of Living Near Chicago?
| Expense Category | Estimated Monthly Cost | Key Considerations / Notes |
|---|---|---|
| Housing (1-BR Apt Rent) | $1,700 - $2,600+ | A significant portion of Markel Assurance salary. Location choices impact this heavily. |
| Utilities (Basic) | $140 - $230 | Electricity, Heating, Cooling, Water etc. |
| Public Transportation | $105 (CTA 30-day pass) | Essential for most commuters; car ownership is costly. |
| Groceries (Single Person) | $430 - $640 | Can be higher with more dining out or specialty stores. |
| Personal & Leisure | $450 - $800+ | Dining out, entertainment, shopping. Highly variable. |
| Healthcare (Individual) | $400 - $750+ | Varies significantly by plan & employer contribution. |
| Subtotal (Excluding Taxes) | $3,225 - $5,025+ | This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay. |
FAQs of Markel Assurance
1. How much does Markel Assurance in the United States pay?
Markel Assurance pays its employees an average of $48 per hour. The average salary at Markel Assurance range from $42 to $54 per hour. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills and location.
2. Do Markel Assurance employees get a higher salary than its peer company?
The salary at Markel Assurance is higher than its peer company. The average annual salary at Markel Assurance is $99,879, or an hourly wage of $48, in comparison to Arkansas Valley Agency which pays $79,015 per year or $38 per hour.
3. How much does salary increase with years of experience at Markel Assurance?
Salary progression with years of experience at Markel Assurance is typical. Generally, as employees gain more relevant experience, develop more skills, and take on greater responsibilities, their earning potential increases. For example, a role with 5-7 years of experience will usually pay more than the same role requiring 0-2 years.
4. Do salaries at Markel Assurance vary by office location?
Yes, it's very likely that salaries at Markel Assurance vary by office location. Companies often adjust pay based on local market rates, cost of living, and talent competition in different geographic areas. For instance, a role in a high-cost city like New York City may offer a higher nominal salary than the same role in a lower-cost city like Omaha, NE. Our Cost of Living Insights for Chicago section provides more context.
5. Does Markel Assurance offer good benefits?
Markel Assurance typically offers a comprehensive benefits package that adds significant value to an employee's total compensation. Common benefits include health, dental, and vision insurance, a 401(k) plan often with a company match, paid time off. For example, a strong 401(k) match or excellent, low-cost health insurance can be worth thousands of dollars annually, effectively increasing your overall earnings beyond your base salary. For a more detailed list of benefits, please see our "Employee Benefits at Markel Assurance" section on this page.
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