Penny Insurance Salary

Penny Insurance Salary

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As of August 2026, the average annual salary for employees at Penny Insurance in the United States is $81,842. This translates to an approximate hourly wage of $39. Salaries at Penny Insurance typically range from $72,007 to $92,527 annually, reflecting the diverse roles and experience levels within the company.

How Much Does Penny Insurance Pay for Different Roles?

Explore detailed salary information for specific jobs at Penny Insurance. Based on our data, the highest paying job is the President, with an annual salary of $633,528. The table below outlines the annual salary ranges for most popular roles within the company.
How accurate does the salary look to you?

Current Job Openings at Penny Insurance

Ready for your next career move? Explore current job openings at Penny Insurance. Use the search tool below to find available positions by title and location and apply directly to start your career.

Is Penny Insurance’s Pay Competitive? Salary Benchmarking Analysis

How does Penny Insurance'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
Arbury Insurance Agency $82,992
+1.4%
Indicates identical technical requirements and experience levels between the two firms.
Timeless Insurance Solutions $86,610
+5.8%
Reflects structural premiums typical of Timeless Insurance Solutions's large-cap national operations.
MSH Insurance Agency $87,095
+6.4%
Supported by MSH Insurance Agency's high-margin contracts allowing higher overhead.
Lamberth Insurance Services $80,755
-1.3%
Suggests Lamberth Insurance Services utilizes a highly similar base-plus-benefits compensation model.
Insurance Industry $123,858
+51.3%
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 Penny Insurance's Salaries Compare to Similar Companies?

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

Employee Reviews: Working at Penny Insurance

Considering a career at Penny Insurance? 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.
Training sessions are frequent, and mentorship is available. The workload is predictable, which suits those who prefer routine. A fulfilling place to work in the insurance sector. The insurance industry can be demanding, but this company makes it enjoyable with a supportive environment.
Commented in March 17, 2025
8
3
The company offers great learning opportunities and encourages skill development. It’s a dependable workplace, suitable for those who prefer a steady routine in the insurance field. The company invests in employee development, offering certifications and workshops. The company’s reputation in the insurance industry adds job security. The insurance products are competitive, and client relationships...
Commented in February 16, 2025
35
3
The office culture is inclusive, and there are regular team-building activities that keep morale high. The team is supportive, and management recognizes contributions. The workplace is stable with clear expectations and structured workflows. The benefits are comprehensive, including wellness incentives. Career growth opportunities are plentiful, and management is supportive.
Commented in January 07, 2024
18
3

Penny Insurance Overview

Website
www.pennyinsuranceagency.com
Founded In
1931
Employees
<25 employees
Industry
Insurance
Headquarter Address
225 6th Ave W Hendersonville North Carolina NC 28739
Revenue
<$5 Million
Phone Number
+1 8286929171
Social Media
About Penny Insurance
Penny Insurance Agency is an independent insurance agency serving Western North Carolina and Upstate South Carolina, specifically Tryon, Hendersonville, Asheville, Landrum, Campobello and Spartanburg and is licensed in multiple states. Founded in 1931 with a mission to provide the very best insurance protection at the most affordable price, Penny Insurance is still serving as a leading independent

What Benefits Does Penny Insurance Offer Beyond Salary?

A competitive compensation package is more than just a salary. Penny Insurance 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 Nashville?

Understanding the cost of living near Nashville is key to truly evaluating a salary offer or your current compensation at Penny Insurance.
Nashville's Cost of Living Index is approximately 103.5 (3.5% more expensive than US average; 14.7% more than TN average). 'Music City', major growth, housing costs above US avg. WeGo Public Transit. When planning your budget based on a salary from Penny Insurance, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,500 - $2,300+ A significant portion of Penny Insurance salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $65 (WeGo monthly pass) 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 $450 - $850+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $380 - $700+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,945 - $4,685+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Penny Insurance

1. What is the estimated average total compensation at Penny Insurance?

Salary.com estimates that the average total compensation package at Penny Insurance, which can include base salary, potential bonuses, and benefits, is around $81,842 annually . Total compensation provides a more holistic view of an employee's earnings.

2. How much does Penny Insurance pay compared to Arbury Insurance Agency?

The average annual salary at Penny Insurance is $81,842, or an hourly wage of $39, in comparison to Arbury Insurance Agency which pays $82,992 per year or $40 per hour.

3. Do salaries differ significantly between departments at Penny Insurance?

Yes, salaries often differ between departments at Penny Insurance due to varying market demand for specific skill sets and the nature of the roles. For example, technical roles in Engineering or IT may command different salary ranges compared to roles in Marketing or Human Resources.

4. What's the typical salary progression for an employee moving from an entry-level to a senior role at Penny Insurance?

Salary progression from an entry-level to a senior role at Penny Insurance can be significant, often involving several promotions and substantial pay increases. For example, an entry-level Analyst might see their salary potentially double or more as they progress to a Senior Manager or Director position over several years, assuming strong performance and development.

5. How can I determine if a salary offer from Penny Insurance in Nashville is fair given the local cost of living?

To determine if a salary offer from Penny Insurance in Nashville is fair, first compare the gross salary to our data for similar roles at Penny Insurance and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Nashville" to understand its purchasing power.

6. Are promotions at Penny Insurance usually accompanied by a significant salary increase?

Yes, promotions at Penny Insurance are generally accompanied by a salary increase. The amount of the increase typically reflects the greater responsibilities, skills, and scope of the new role. The percentage increase can vary widely depending on the level of promotion and the company's compensation structure.

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