How much does an Insurance Managing Broker make in the United States? The average Insurance Managing Broker salary in the United States is $223,874 as of September 26, 2022, but the range typically falls between $180,166 and $279,843. 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. 

Jobs with a similar salary range to Insurance Managing Broker : Senior Medical Director

Based on HR-reported data: a national average with a geographic differential
25% $180,166 10% $140,372 90% $330,799 75% $279,843 $223,874 50%(Median)
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Check out Insurance Managing Broker jobs in Virginia

Insurance Risk Manager

Leidos - Fairfax, VA

Specialty Brokerage Services Commercial Lines Producer

Westfield Group, Insurance - Glen Allen, VA

Director of Marketing

Bankers Insurance, LLC - Glen Allen, VA

Senior Underwriter

Great American Insurance Group - Glen Allen, VA

Job Description for Insurance Managing Broker

Insurance Managing 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 Managing Broker develops recommendations to advise 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 Managing 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 Managing Broker work is highly independent. May assume a team lead role for the work group. A specialist on complex technical and business matters. To be an Insurance Managing Broker typically requires 7+ years of related experience. (Copyright 2022 Salary.com)... View full job description

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Career Path for Insurance Managing Broker

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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

 
 
 
180166
279843
223874

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
197711
370371
257113
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Managing Broker in the United States. The base salary for Insurance Managing Broker ranges from $180,166 to $279,843 with the average base salary of $223,874. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $197,711 to $370,371 with the average total cash compensation of $257,113.
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180166
279843

 

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

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