How much does an Insurance Broker make in Chicago, IL? The average Insurance Broker salary in Chicago, IL is $93,588 as of November 23, 2022, but the range typically falls between $80,891 and $114,356. 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. 

Based on HR-reported data: a national average with a geographic differential
25% $80,891 10% $69,331 90% $133,265 75% $114,356 $93,588 50%(Median)
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Check out Insurance Broker jobs in Chicago, Illinois

Commodity Broker - Remote

Commstock Investments - Chicago, IL

Job Description for Insurance Broker

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 2022 Salary.com)... View full job description

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Job Openings for Insurance Broker in Chicago, IL
Those that have already made the climb...
Robert DeAngelis, President, CEO and CFO
Fiscal Year Ended in 2019
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City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-2.6%
City, State Chicago, IL Compared to national average
+ 6.1%
City, State Boston, MA Compared to national average
+ 12.7%
City, State New York, NY Compared to national average
+ 20.3%
City, State Dallas, TX Compared to national average
-0.7%

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Average Base Salary

Core compensation

 
 
 
80891
114356
93588

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
83835
122313
98307
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Broker in Chicago, IL. The base salary for Insurance Broker ranges from $80,891 to $114,356 with the average base salary of $93,588. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $83,835 to $122,313 with the average total cash compensation of $98,307.
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80891
114356

 

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About Chicago, Illinois    Chicago (/ʃɪˈkɑːɡoʊ/ (listen), locally also /-ˈkɔː-/), officially the City of Chicago, is the most populous city in Illinois, as well as the third mos....More

Chicago, Illinois  area prices were up 0.8% from a year ago    View the Cost of Living in Chicago, Illinois

Insurance Broker Salary in popular cities: AuroraRockfordJoliet

Skills associated with Insurance Broker: Insurance Software, Insurance Products, Insurance Agency Management Software, Risk Assessment ...More

Salary estimation for Insurance Broker at companies like : EPAM SYSTEMS INC, GROUPON INC, REAC GROUP INC