As of December 01, 2024, the average annual pay of Insurance Senior Broker in the United States is $165,115. While Salary.com is seeing that Insurance Senior Broker salary in the US can go up to $249,498 or down to $108,062, but most earn between $135,251 and $209,284. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Senior Broker in the United States.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $209,284 | $17,440 | $4,025 | $101 |
| Average | $165,115 | $13,760 | $3,175 | $79 |
| 25th Percentile | $135,251 | $11,271 | $2,601 | $65 |
As of December 01, 2024, Salary.com is seeing that an entry-level Insurance Senior Broker with under 1 year experience makes about $151,009. With less than 2 years of experience, a mid-level Insurance Senior Broker makes around $153,226. After 2-4 years, the Insurance Senior Broker pay rises to about $157,659. Those senior Insurance Senior Broker with 5-8 years of experience earn roughly $172,183, and those Insurance Senior Broker having 8 years or more experience is expected to earn about $187,274 on average.
| Levels | Salary |
|---|---|
| Entry Level Insurance Senior Broker | $151,009 |
| Intermediate Level Insurance Senior Broker | $153,226 |
| Senior Level Insurance Senior Broker | $157,659 |
| Specialist Level Insurance Senior Broker | $172,183 |
| Expert Level Insurance Senior Broker | $187,274 |
| Entry Level | 9% |
| Mid Level | 7% |
| Senior Level | 5% |
| Top Level | 4% |
| Experienced | 13% |
Salaries in the United States can vary significantly from state to state due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Insurance Senior Broker is $182,122 in California and in Massachusetts, the average annual salary goes to $179,645. While in New Jersey, an Insurance Senior Broker earns $180,966 per year.
What Am I Worth?
Salaries in the United States can vary significantly from city to city due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Insurance Senior Broker in San Francisco, CA is $206,394 and in New York, NY, the average annual salary goes to $192,854. While an Insurance Senior Broker earns $185,094 per year in Boston, MA.
For those exploring the changing dynamics of Insurance Senior Broker salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. As of December 01, 2024, our research highlights a notable shift in Insurance Senior Broker compensation over the past six years. For instance, the median salary has moved from $103,327 in 2023 to about $104,146 in 2024 (for a comprehensive analysis of Insurance Senior Broker salary trends, click here). It's crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations.
Salary.com job board provides millions of Insurance Senior Broker information for you to search for. Click on search button below to see Insurance Senior Broker job openings or enter a new job title here.
Here are companies hiring for Insurance Senior Broker and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $165,115 | 68.0% | ||
| Bonus | $16,165 | 6.7% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $13,082 | 5.4% | ||
| 401K/403B | $8,520 | 3.5% | ||
| Disability | $1,450 | 0.6% | ||
| Healthcare | $6,056 | 2.5% | ||
| Pension | $9,970 | 4.1% | ||
| Time Off | $22,311 | 9.2% | ||
| Total Compensation | $242,669 | 100% | ||
The average annual salary of Insurance Senior Broker is $165,115. In case you are finding an easy salary calculator, the average hourly pay of Insurance Senior Broker is $79; the average weekly pay of Insurance Senior Broker is $3,175; the average monthly pay of Insurance Senior Broker is $13,760.
An Insurance Senior Broker's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, an Insurance Senior Broker earns the most in San Jose, CA, where the annual salary of an Insurance Senior Broker is $207,219.
The highest pay for Insurance Senior Broker is $249,498.
The lowest pay for Insurance Senior Broker is $108,062.
Insurance Senior 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 Senior 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 Senior 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 Senior Broker work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be an Insurance Senior Broker typically requires 4 -7 years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. 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.
Flexibility: Adapting, responding to, and dealing with the changing environment and new situations.
Financial Literacy: Financial literacy is the confident understanding of concepts including saving, investing and debt that leads to an overall sense of financial well-being and self-trust.
Brokerage: A brokerage provides intermediary services in various areas, e.g., investing, obtaining a loan, or purchasing real estate.
