SFM Mutual Insurance Co Salary

SFM Mutual Insurance Co Salary

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As of August 2026, the average annual salary for employees at SFM Mutual Insurance Co in the United States is $117,990. This translates to an approximate hourly wage of $57. Salaries at SFM Mutual Insurance Co typically range from $103,667 to $133,670 annually, reflecting the diverse roles and experience levels within the company.

How Much Does SFM Mutual Insurance Co Pay for Different Roles?

Explore detailed salary information for specific jobs at SFM Mutual Insurance Co. Based on our data, the highest paying job is the President, with an annual salary of $913,346. 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 SFM Mutual Insurance Co

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

Is SFM Mutual Insurance Co’s Pay Competitive? Salary Benchmarking Analysis

How does SFM Mutual Insurance Co'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
Funeral Directors Life Insurance Co $99,025
-16.1%
Reflects market rates for standard general contracting, differing from specialized roles.
CONNECTICUT STATE ASSURANCE Corp $116,112
-1.6%
Confirms CONNECTICUT STATE ASSURANCE Corp is a direct competitor vying for the exact same talent pool.
Insurance Group-Amer Holding $99,679
-15.5%
Insurance Group-Amer Holding likely leverages performance bonuses over the high base salary shown here.
MDwise Inc $98,023
-16.9%
Normalized for lower cost-of-living zones where MDwise Inc primarily operates.
Insurance Industry $123,858
+5.0%
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 SFM Mutual Insurance Co's Salaries Compare to Similar Companies?

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

Employee Reviews: Working at SFM Mutual Insurance Co

Considering a career at SFM Mutual Insurance Co? 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.
While innovation is steady, the company’s stability is a key advantage. The benefits package is competitive, and the office culture is positive. A reliable option for insurance professionals. My experience here has been stable and reliable. Compensation is fair.
Commented in May 22, 2025
33
0
The company culture is inclusive, and there’s a strong emphasis on professional development. Good place to gain experience. The wellness programs and employee perks are a big plus. Management recognizes hard work, and the company offers good incentives. Managers are supportive, and teamwork is emphasized. A forward-thinking employer that values its team. Flexible schedules and good training progra...
Commented in June 21, 2024
12
0
Highly recommend for insurance experts looking for growth. Workload distribution is fair, and management is reasonable with expectations. It’s a good fit for those who value predictability in their career. The company operates efficiently, and the workload is reasonable.
Commented in March 01, 2024
20
3

SFM Mutual Insurance Co Overview

Website
www.sfmic.com
Founded In
1983
Employees
200 - 500 employees
Industry
Insurance
Headquarter Address
3500 American Blvd W Bloomington Minnesota MN 55431
Revenue
$200 Million - $500 Million
Phone Number
+1 8009371181
Social Media
About SFM Mutual Insurance Co
Founded in 1983, SFM Companies, headquartered in Bloomington, Minnesota, is a customer-owned mutual insurance company providing Minnesota, Wisconsin, Iowa, Nebraska and South Dakota employers with workers' compensation coverage. SFM offers workers' compensation insurance solutions for employers of all sizes, including injury prevention, claims and disability management, cost containment, legal ass

What Benefits Does SFM Mutual Insurance Co Offer Beyond Salary?

A competitive compensation package is more than just a salary. SFM Mutual Insurance Co 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)
Work at SFM Mutual Insurance Co?
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What Is the Cost of Living Near Minneapolis?

Understanding the cost of living near Minneapolis is key to truly evaluating a salary offer or your current compensation at SFM Mutual Insurance Co.
Minneapolis' Cost of Living Index is approximately 104.8 (4.8% more expensive than US average; 7.9% more than MN average). Major city, vibrant, housing costs above US avg, cold winters (high heating). Metro Transit. When planning your budget based on a salary from SFM Mutual Insurance Co, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,400 - $2,100+ A significant portion of SFM Mutual Insurance Co 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 SFM Mutual Insurance Co

1. What is the estimated average total compensation at SFM Mutual Insurance Co?

Salary.com estimates that the average total compensation package at SFM Mutual Insurance Co, which can include base salary, potential bonuses, and benefits, is around $117,990 annually . Total compensation provides a more holistic view of an employee's earnings.

2. How much does SFM Mutual Insurance Co pay compared to Funeral Directors Life Insurance Co?

The average annual salary at SFM Mutual Insurance Co is $117,990, or an hourly wage of $57, in comparison to Funeral Directors Life Insurance Co which pays $99,025 per year or $48 per hour.

3. Do salaries differ significantly between departments at SFM Mutual Insurance Co?

Yes, salaries often differ between departments at SFM Mutual Insurance Co 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 SFM Mutual Insurance Co?

Salary progression from an entry-level to a senior role at SFM Mutual Insurance Co 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 SFM Mutual Insurance Co in Minneapolis is fair given the local cost of living?

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

6. Are promotions at SFM Mutual Insurance Co usually accompanied by a significant salary increase?

Yes, promotions at SFM Mutual Insurance Co 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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