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Murphy Insurance Inc Salary

Murphy Insurance Inc Salary

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As of September 2026, the average annual salary for employees at Murphy Insurance Inc in the United States is $84,300. This translates to an approximate hourly wage of $41. Salaries at Murphy Insurance Inc typically range from $74,170 to $95,320 annually, reflecting the diverse roles and experience levels within the company.

How Much Does Murphy Insurance Inc Pay for Different Roles?

Explore detailed salary information for specific jobs at Murphy Insurance Inc. Based on our data, the highest paying job is the Insurance Broker, with an annual salary of $71,337. The table below outlines the annual salary ranges for most popular roles within the company.
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Is Murphy Insurance Inc’s Pay Competitive? Salary Benchmarking Analysis

How does Murphy Insurance Inc's compensation stack up against the industry and its key competitors? Our salary benchmarking analysis provides a clear comparison. The chart below visualizes this comparison alongside select peer companies.
Competitor / Benchmark Avg. Salary Variance Primary Market Influence Factor & Explanation
Waypoint Benefit Solutions $88,065
+4.5%
Data suggests Waypoint Benefit Solutions's workforce skews heavily towards veteran, high-tenure roles.
Grady Wright & Associates Inc $91,799
+8.9%
Reflects structural premiums typical of Grady Wright & Associates Inc's large-cap national operations.
Lehn & Vogt $84,964
+0.8%
Confirms Lehn & Vogt is a direct competitor vying for the exact same talent pool.
TFIA Insurance Agency LLC $112,842
+33.9%
Supported by TFIA Insurance Agency LLC's high-margin contracts allowing higher overhead.
Insurance Industry $123,858
+46.9%
Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors.
Need More Granular Data? The analysis above provides a high-level market overview. To benchmark specific job codes, adjust for real-time cost-of-living changes, or access verified HR-reported datasets, upgrade to Salary.com for Business. Precision matters when building your compensation strategy.

How Murphy Insurance Inc's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Murphy Insurance Inc. Click a company name to learn more.

Employee Reviews: Working at Murphy Insurance Inc

Considering a career at Murphy Insurance Inc? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.
Colleagues are respectful, though departments could communicate better. Benefits like remote work options and health incentives make it an attractive employer. A great place to work. The insurance products we work with are diverse, keeping the job engaging. The workload is balanced, with no excessive pressure.
Commented in May 18, 2025
8
2
The office atmosphere is welcoming, and there are regular team-building activities. From day one, I’ve had access to mentorship programs and skill-building workshops. Training programs are top-notch, and leadership is transparent. A great employer overall. While no workplace is perfect, the pros here far outweigh any minor challenges. The insurance industry is fast-paced, but teamwork makes it man...
Commented in March 27, 2025
33
3
The culture is decent, and communication from leadership is consistent. A good fit for those who value routine and stability in their job. There’s a good mix of autonomy and teamwork.
Commented in January 21, 2024
40
3

Murphy Insurance Inc Overview

Website
www.murphyinsurance.net
Founded In
1934
Employees
<25 employees
Industry
Insurance
Headquarter Address
626 Broadway St New Haven Indiana IN 46774
Revenue
<$5 Million
Phone Number
+1 2607491812
Social Media
About Murphy Insurance Inc
Murphy Insurance is a property and casualty insurance agency. We also offer individual life and health insurance policies. We are made up of dedicated professionals working as a team in an effort to meet the expectations of our quality minded clients. We are the people who try to make insurance easy to understand.

What Benefits Does Murphy Insurance Inc Offer Beyond Salary?

A competitive compensation package is more than just a salary. Murphy Insurance Inc offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:
Social Security
401(K)
Disability
Healthcare
Pension
Time Off (days)
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What Is the Cost of Living Near Indianapolis?

Understanding the cost of living near Indianapolis is key to truly evaluating a salary offer or your current compensation at Murphy Insurance Inc.
Indianapolis' Cost of Living Index is approximately 83.5 (16.5% less expensive than US average; 7.8% less than IN average). State capital, affordable housing, growing downtown. IndyGo bus. When planning your budget based on a salary from Murphy Insurance Inc, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $950 - $1,400+ A significant portion of Murphy Insurance Inc salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $60 (IndyGo monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $380 - $560 Can be higher with more dining out or specialty stores.
Personal & Leisure $350 - $650+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $360 - $670+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,240 - $3,510+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Murphy Insurance Inc

1. How much does a Murphy Insurance Inc employee make?

Murphy Insurance Inc pays its employees an average of $84,300 per year. The average salary at Murphy Insurance Inc range from $74,170 to $95,320 per year. 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. Which similar company tend to pay more or less than Murphy Insurance Inc?

The salary at Murphy Insurance Inc is lesser than the similar company. The average annual salary at Murphy Insurance Inc is $84,300, or an hourly wage of $41, in comparison to Waypoint Benefit Solutions which pays $88,065 per year or $42 per hour.

3. How much does an Insurance Broker typically earn at Murphy Insurance Inc?

An Insurance Broker at Murphy Insurance Inc typically earns an average annual base salary of around $71,337, with a general range of $62,445 to $85,260.

4. Do employees with advanced degrees (Master's, PhD) earn more at Murphy Insurance Inc?

In many roles at Murphy Insurance Inc, particularly those requiring specialized knowledge or research capabilities (e.g., certain engineering, scientific, or financial roles), an advanced degree like a Master's or PhD can lead to a higher starting salary and faster career progression, thus higher earnings. However, for some roles, direct experience and skills might be valued as much or more than an advanced degree. The impact varies by field and specific job requirements.

5. How does the cost of living near Indianapolis affect the perceived value of a Murphy Insurance Inc salary?

Indianapolis' Cost of Living Index is approximately 83.5 (16.5% less expensive than US average; 7.8% less than IN average). This significantly impacts the purchasing power of a salary from Murphy Insurance Inc based there. Our "Cost of Living Insights for Indianapolis" module details this impact, helping you assess the 'real feel' value of your compensation.

6. What kind of benefits does Murphy Insurance Inc typically offer employees?

Murphy Insurance Inc generally offers a range of employee benefits designed to support their workforce's health, financial well-being, and work-life balance. Comprehensive health insurance (medical, dental, vision), a 401(k) retirement savings plan (often with a company match), paid time off (PTO), and potentially disability and life insurance are included. For a more detailed list of benefits, please see our "Employee Benefits at Murphy Insurance Inc" section on this page.

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