How much does an Insurance Broker Executive make in Minnesota? The average Insurance Broker Executive salary in Minnesota is $263,875 as of April 24, 2024, but the range typically falls between $218,006 and $323,583. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.
Percentile | Salary | Location | Last Updated |
10th Percentile Insurance Broker Executive Salary | $176,245 | MN | April 24, 2024 |
25th Percentile Insurance Broker Executive Salary | $218,006 | MN | April 24, 2024 |
50th Percentile Insurance Broker Executive Salary | $263,875 | MN | April 24, 2024 |
75th Percentile Insurance Broker Executive Salary | $323,583 | MN | April 24, 2024 |
90th Percentile Insurance Broker Executive Salary | $377,944 | MN | April 24, 2024 |
Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Presentation: Presentation conveys information from a speaker to an audience. Presentations are typically demonstrations, introduction, lecture, or speech meant to inform, persuade, inspire, motivate, build goodwill, or present a new idea/product.
Customer Contact: Customer Contact is the process of handling a query of the customer before, during, and after the purchase of any product or service.
Futures: Futures are derivative financial contracts obligating the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and set price.
Insurance Broker Executive directs the marketing of customer business to different insurance carriers to obtain quotes based on an evaluation and analysis of the customer's insurance needs and requirements. Leads team to obtain and negotiate quotes from different carriers, meet profitability targets, drive customer satisfaction and retention. Being an Insurance Broker Executive ensures efficient operational processes. May lead the most complex accounts and deals. Additionally, Insurance Broker Executive has deep knowledge of complex insurance products and multiple lines such as commercial property & casualty, employee benefits, and others. Requires insurance licensing. May also require professional credentials such as CPCU (Chartered Property Casualty Underwriter), CIC (Certified Insurance Counselor), or ARM (Associate in Risk Management). Requires a bachelor's degree. Typically reports to senior management. The Insurance Broker Executive typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. To be an Insurance Broker Executive typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. (Copyright 2024 Salary.com)... View full job description
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Location | Avg. Salary | Date Updated |
---|---|---|
Location Lakeville, MN | Avg. Salary $271,871 | Date Updated April 24, 2024 |
Location Minnetonka, MN | Avg. Salary $273,677 | Date Updated April 24, 2024 |
Location Ada, MN | Avg. Salary $243,755 | Date Updated April 24, 2024 |
Location Adams, MN | Avg. Salary $256,137 | Date Updated April 24, 2024 |
Location Adolph, MN | Avg. Salary $249,172 | Date Updated April 24, 2024 |
Location Adrian, MN | Avg. Salary $230,342 | Date Updated April 24, 2024 |
Location Afton, MN | Avg. Salary $271,613 | Date Updated April 24, 2024 |
Location Ah Gwah Ching, MN | Avg. Salary $247,625 | Date Updated April 24, 2024 |
Location Aitkin, MN | Avg. Salary $249,430 | Date Updated April 24, 2024 |
Location Akeley, MN | Avg. Salary $247,883 | Date Updated April 24, 2024 |
Salary.com's CompAnalyst platform offers:
Job Title | Experience | EDUCATION | Salary Compared to This Job |
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Job Title Broker Relations Representative | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Agent | Experience | Education | Salary Compared to This Job |
Job Title Insurance Broker | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Broker Trainee | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
Job Title Insurance Managing Broker | Experience 7 + | EducationBachelors | Salary Compared to This Job |
Jobs with different levels of education may pay very differently. Check the Insurance Broker Executive salary of your education level.
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About Minnesota Minnesota (/ˌmɪnɪˈsoʊtə/ (listen)) is a state in the Upper Midwest and northern regions of the United States. Minnesota was admitted as the 32nd U.S. ....More
Skills associated with Insurance Broker Executive: Operations Management, Insurance Products, Partner Relationship Management, Account Management ...More
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