MG Insurance Inc Salary
How Much Does MG Insurance Inc Pay for Different Roles?
President
$669,291 / year
Salary Range: $512,308 - $843,429
Executive
Director, Marketing
$148,697 / year
Salary Range: $134,332 - $164,384
Marketing
Insurance Broker
$73,167 / year
Salary Range: $64,042 - $87,441
Insurance
Administrative Assistant & Customer Service Representative
$36,431 / year
Salary Range: $32,983 - $40,242
Administrative Assistant I
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Current Job Openings at MG Insurance Inc
Is MG Insurance Inc’s Pay Competitive? Salary Benchmarking Analysis
| Competitor / Benchmark | Avg. Salary | Variance | Primary Market Influence Factor & Explanation |
|---|---|---|---|
| ISU Stephen B Marvin Agency | $103,233 |
+19.4%
|
Supported by ISU Stephen B Marvin Agency's high-margin contracts allowing higher overhead. |
| Benefit Analysis Inc | $106,619 |
+23.3%
|
Reflects a supply-demand imbalance for the specific talent Benefit Analysis Inc targets. |
| Northern Title Agency | $90,027 |
+4.1%
|
Driven by niche technical certifications required for Northern Title Agency's specialized projects. |
| Cascade Title Co | $94,700 |
+9.5%
|
Influenced by prevailing union wage agreements specific to Cascade Title Co's sector. |
| Insurance Industry | $123,858 |
+43.3%
|
Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors. |
How MG Insurance Inc's Salaries Compare to Similar Companies?
ISU Stephen B Marvin Agency
$103,233 / year
Salary Range: $90,829 - $116,720
Lancaster, CA
Benefit Analysis Inc
$106,619 / year
Salary Range: $93,807 - $120,561
Nutley, NJ
Northern Title Agency
$90,027 / year
Salary Range: $79,210 - $101,795
Rocky River, OH
Cascade Title Co
$94,700 / year
Salary Range: $83,315 - $107,075
Vancouver, WA
Insurance Advantage Agency LLC
$96,641 / year
Salary Range: $85,028 - $109,270
Edina, MN
Agency 10 Insurance
$97,432 / year
Salary Range: $85,725 - $110,160
Maple Grove, MN
Armar Insurance Agency LLC
$98,487 / year
Salary Range: $86,650 - $111,355
Minneapolis, MN
Central Lakes Insurance Brokers Ltd
$98,571 / year
Salary Range: $86,724 - $111,440
Edina, MN
Fleming Insurance Agency Inc
$95,238 / year
Salary Range: $83,791 - $107,684
Ramsey, MN
Employee Reviews: Working at MG Insurance Inc
MG Insurance Inc Overview
What Benefits Does MG Insurance Inc Offer Beyond Salary?
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What Is the Cost of Living Near Minneapolis?
| Expense Category | Estimated Monthly Cost | Key Considerations / Notes |
|---|---|---|
| Housing (1-BR Apt Rent) | $1,400 - $2,100+ | A significant portion of MG Insurance Inc salary. Location choices impact this heavily. |
| Utilities (Basic) | $130 - $230 (Heating significant) | Electricity, Heating, Cooling, Water etc. |
| Public Transportation | $120 (Metro Transit monthly pass) | Essential for most commuters; car ownership is costly. |
| Groceries (Single Person) | $430 - $630 | Can be higher with more dining out or specialty stores. |
| Personal & Leisure | $450 - $800+ | Dining out, entertainment, shopping. Highly variable. |
| Healthcare (Individual) | $390 - $720+ | Varies significantly by plan & employer contribution. |
| Subtotal (Excluding Taxes) | $2,920 - $4,480+ | This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay. |
FAQs of MG Insurance Inc
1. What is the average salary for employees at MG Insurance Inc?
The average annual total compensation for employees at MG Insurance Inc is approximately $86,462. However, this is an aggregate figure, actual salaries can range significantly, typically from $76,066 to $97,759, depending on factors like job role, experience, and location.
2. How much does MG Insurance Inc pay compared to ISU Stephen B Marvin Agency?
The average annual salary at MG Insurance Inc is $86,462, or an hourly wage of $42, in comparison to ISU Stephen B Marvin Agency which pays $103,233 per year or $50 per hour.
3. What is the lowest salary at MG Insurance Inc?
The lowest-paying job at MG Insurance Inc is an Administrative Assistant & Customer Service Representative with a salary of $36,431 per year. The lowest- paying job depends heavily on the specific role, location, whether it's an hourly or salaried position, and if it's full-time, part-time, or an internship. Generally, entry-level positions might represent the lower end of the pay scale.
4. How does having a professional certification impact salary for relevant roles at MG Insurance Inc?
Professional certifications like PMP (for Project Managers), CPA (for Accountants), or another relevant certification for the industry can often lead to higher salaries and better job prospects at MG Insurance Inc for applicable roles. Certifications demonstrate a verified level of expertise and commitment to a profession, making candidates more competitive.
5. Does MG Insurance Inc offer cost-of-living adjustments (COLA) for employees in high-cost areas like Minneapolis?
While some companies offer formal COLA, many, including potentially MG Insurance Inc, incorporate cost of living considerations into their overall salary structure for different locations rather than as a separate, itemized adjustment. This means their base pay bands for roles in high-cost cities like New York City are generally set higher to account for these local market factors.
6. What's the typical process for salary reviews and raises at MG Insurance Inc?
Most companies, likely including MG Insurance Inc, conduct formal salary reviews annually, often tied to performance evaluations. During these reviews, factors like individual performance, meeting goals, company performance, and market adjustments are typically considered for potential salary increases.
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