| Competitor / Benchmark | Avg. Salary | Variance | Primary Market Influence Factor & Explanation |
|---|---|---|---|
| Insurance Advisory LLC | $100,333 |
+12.7%
|
Supported by Insurance Advisory LLC's high-margin contracts allowing higher overhead. |
| Hutchins and Threatt Insurance | $95,407 |
+7.1%
|
Reflects structural premiums typical of Hutchins and Threatt Insurance's large-cap national operations. |
| Risty Benefits Inc | $80,935 |
-9.1%
|
Reflects market rates for standard general contracting, differing from specialized roles. |
| Specialized Insurance | $99,710 |
+12.0%
|
Reflects a supply-demand imbalance for the specific talent Specialized Insurance targets. |
| Insurance Industry | $123,858 |
+39.1%
|
Pay variances are driven by organizational scale, specialized skill requirements, or geographic cost-of-living factors. |
$100,333 / year
Salary Range: $88,281 - $113,440
Needham, MA
$95,407 / year
Salary Range: $83,938 - $107,867
Marlborough, MA
$80,935 / year
Salary Range: $71,210 - $91,515
Sioux Falls, SD
$99,710 / year
Salary Range: $87,732 - $112,745
Patchogue, NY
$93,888 / year
Salary Range: $82,609 - $106,160
Webster, MA
$95,343 / year
Salary Range: $83,892 - $107,806
New Bedford, MA
$84,384 / year
Salary Range: $74,243 - $95,405
Edwardsburg, MI
$111,070 / year
Salary Range: $97,711 - $125,622
New York City, NY
$87,844 / year
Salary Range: $77,294 - $99,332
Grand Rapids, MI
Get an estimated calculation of how much you should be earning and insight into your career options.
| Expense Category | Estimated Monthly Cost | Key Considerations / Notes |
|---|---|---|
| Housing (1-BR Apt Rent) | $1,200 - $1,700+ | A significant portion of My Coverage Plan Inc salary. Location choices impact this heavily. |
| Utilities (Basic) | $120 - $210 | Electricity, Heating, Cooling, Water etc. |
| Public Transportation | $65 (Metro monthly pass, free for UW) | Essential for most commuters; car ownership is costly. |
| Groceries (Single Person) | $410 - $600 | Can be higher with more dining out or specialty stores. |
| Personal & Leisure | $400 - $730+ | Dining out, entertainment, shopping. Highly variable. |
| Healthcare (Individual) | $380 - $700+ | Varies significantly by plan & employer contribution. |
| Subtotal (Excluding Taxes) | $2,575 - $3,945+ | This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay. |
The typical annual salary range for most roles at My Coverage Plan Inc is approximately from $78,357 to $100,697. 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.
The average annual salary at My Coverage Plan Inc is $89,057, or an hourly wage of $43, in comparison to Insurance Advisory LLC which pays $100,333 per year or $48 per hour.
Experience level is a significant factor in determining salary at My Coverage Plan Inc, as it is with most employers. Generally, employees with more years of relevant experience and a proven track record can command higher salaries. For example, a senior-level role will typically have a higher pay band than an entry-level or mid-career position within the same job family.
To determine if a salary offer from My Coverage Plan Inc in Madison is fair, first compare the gross salary to our data for similar roles at My Coverage Plan Inc and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Madison" to understand its purchasing power.
Salary increases at My Coverage Plan Inc are likely influenced by a combination of factors, including: individual employee performance against set goals, overall company performance and profitability, budget availability, changes in the market rate for similar roles (market adjustments), and sometimes cost-of-living increases.
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