How much does an Insurance Broker make in the United States? The average Insurance Broker salary in the United States is $82,406 as of July 27, 2020, but the range typically falls between $71,228 and $100,686. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Insurance Broker develops and markets customer business to different insurance carriers to obtain quotes based on an evaluation and analysis of the customer's insurance needs and requirements. Assesses and negotiates quotes from different carriers based on exposure, risk, and financing. Being an Insurance Broker develops recommendations to advises customers on the best options that will meet their needs and to place and retain the business. Requires knowledge of complex insurance products and a variety of lines such as commercial property & casualty, employee benefits, and others. Additionally, Insurance Broker requires a bachelor's degree. 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). Typically reports to a supervisor or manager. The Insurance Broker occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be an Insurance Broker typically requires 2 -4 years of related experience. (Copyright 2020 Salary.com)... View full job description
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Average Base Salary
Average Total Cash Compensation
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These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Broker in the United States. The base salary for Insurance Broker ranges from $71,228 to $100,686 with the average base salary of $82,406. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $73,818 to $107,689 with the average total cash compensation of $86,563.