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As of August 01, 2026, the average salary for a Licensed Insurance Agent in Minnesota is $86,756 per year, which breaks down to an hourly rate of $42.
However, a Licensed Insurance Agent's salary can vary significantly. Here’s a look at the typical salary range:
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Licensed Insurance Agent Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $97,890 | $8,158 | $1,883 | $47 |
| Average | $86,756 | $7,230 | $1,668 | $42 |
| 25th Percentile | $76,160 | $6,347 | $1,465 | $37 |
Farm Bureau Financial Services - Southeast Minnesota - Rochester, MN
Aston Carter - Duluth, MN
Minnesota Jobs - Duluth, MN
Medix - Minneapolis, MN
A Licensed Insurance Agent's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Licensed Insurance Agent's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here’s how the average salary grows at different career stages:
| Levels | Salary |
|---|---|
| Insurance... Level Licensed Insurance Agent | $64,723 |
| Licensed ... Level Licensed Insurance Agent | $88,964 |
| Insurance... Level Licensed Insurance Agent | $157,373 |
| Insurance... Level Licensed Insurance Agent | $213,025 |
| Insurance... Level Licensed Insurance Agent | $256,404 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Licensed Insurance Agents. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For Licensed Insurance Agent roles, the industry you choose can impact your earning potential by as much as 25% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Insurance, offers compensation 10% above the average. Conversely, Licensed Insurance Agent positions in Business Services typically offer lower base pay, as this sector often view Licensed Insurance Agent as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Insurance | $95,432 | $46.0 | 10% |
| Financial Services | $91,094 | $44.0 | 5% |
Understanding how a Licensed Insurance Agent's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $97,890 | $8,158 | $1,883 | $47 |
| Average | $86,756 | $7,230 | $1,668 | $42 |
| 25th Percentile | $76,160 | $6,347 | $1,465 | $37 |
Ready to take the next step in your career? Browse thousands of current Licensed Insurance Agent job openings on our job board. Use the search bar below to find your perfect match.
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