Faribo Insurance Salary

Faribo Insurance Salary

How much does the Faribo Insurance Pay for employees?

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As of August 2026, the average annual salary for employees at Faribo Insurance in the United States is $88,909. This translates to an approximate hourly wage of $43. Salaries at Faribo Insurance typically range from $78,220 to $100,527 annually, reflecting the diverse roles and experience levels within the company. Faribo Insurance’s salaries are influenced by a wide range of factors including job role, department, years of experience, and location.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.

How Much Does Faribo Insurance Pay for Different Roles?

Explore detailed salary information for specific jobs at Faribo Insurance. The table below outlines the annual salary ranges for popular roles within the company, helping you benchmark potential earnings. Use 'View by Card/Table' option to find the data most relevant to your career path.
DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.
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Current Job Openings at Faribo Insurance

Ready for your next career move? Explore current job openings at Faribo Insurance. Use the search tool below to find available positions by title and location and apply directly to start your career.

Is Faribo Insurance’s Pay Competitive? Salary Benchmarking Analysis

How does Faribo Insurance’s compensation stack up against the market? This analysis visualizes their annual average salary compared to its industry benchmark and key peer companies.
Peer Company & Industry Benchmarking
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Average Salary ($/year)
Faribo Insurance
Insurance
Benveo LLC
New Jersey Insurance Underwriting Association
Industry Comparison
Our data shows that, on average, compensation at Faribo Insurance is below the average for the U.S. Insurance industry by approximately 28%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared Faribo Insurance average annual salary with several similar companies. Faribo Insurance average salary of $88,909 is higher than Benveo LLC, which has an average salary of $86,683. It is lower than New Jersey Insurance Underwriting Association, with their average salary at $103,634. This places Faribo Insurance in a mid-range position among its peers.
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The companies behind the question marks could be hiring your best people. Don't operate with incomplete data. Unlock your full competitive view with Salary.com for Business to precisely benchmark salaries, benefits, and more against your true competitors.

How Faribo Insurance's Salaries Compare to Similar Companies?

Explore companies in the same industry to compare average salaries, benefits, and career opportunities with those at Faribo Insurance. Click a company name to learn more.

Employee Reviews: Working at Faribo Insurance

Considering a career at Faribo Insurance? Explore authentic employee reviews to learn about the work environment, career growth opportunities, pay transparency and benefits. These first-hand insights can help you set realistic compensation expectations and make informed career decisions.
Professional development is encouraged, and the company supports certifications. Colleagues are collaborative, and the company invests in employee development through training programs. The leadership team is visionary and keeps morale high. Enjoy the team culture. Training is adequate, though more specialized courses would be helpful.
Commented in April 28, 2025
27
3
Training is provided for new systems, though more skill-development workshops would be beneficial. The team is professional, and communication is generally effective. I appreciate the company’s commitment to employee well-being and professional growth. The work environment is professional, and the team is competent. The office environment is modern and welcoming. The company operates smoothly with...
Commented in November 30, 2024
26
1
Communication from upper management is consistent, though more feedback channels would be beneficial. Benefits, including health insurance and retirement plans, are excellent. The company operates efficiently, with clear processes in place for most tasks. The insurance sector is challenging, but the team is knowledgeable and helpful.
Commented in February 24, 2024
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Faribo Insurance Overview

Website
www.insuranceagencymn.com
Founded In
1955
Employees
<25 employees
Industry
Insurance
Headquarter Address
1404-7th St NW Faribault Minnesota MN 55021
Revenue
$5 Million - $10 Million
Phone Number
+1 5073343929
Social Media
About Faribo Insurance
Faribo Insurance provides auto, home and business insurance in the state of Minnesota. We are an insurance brokerage and can help you find the most affordable and best option for your situation and we are not bound to any one company. We offer a personal agent with every policy and you will get the best insurance available.

What Benefits Does Faribo Insurance Offer Beyond Salary?

A competitive compensation package is more than just a salary. Faribo Insurance offers a comprehensive benefits package designed to support your health, financial future, and overall well-being. Below are the most common key benefits:
Social Security
401(K)
Disability
Healthcare
Pension
Time Off (days)
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What Is the Cost of Living Near Minneapolis?

Understanding the cost of living near Minneapolis is key to truly evaluating a salary offer or your current compensation at Faribo Insurance.
Minneapolis' Cost of Living Index is approximately 104.8 (4.8% more expensive than US average; 7.9% more than MN average). Major city, vibrant, housing costs above US avg, cold winters (high heating). Metro Transit. When planning your budget based on a salary from Faribo Insurance, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,400 - $2,100+ A significant portion of Faribo Insurance salary. Location choices impact this heavily.
Utilities (Basic) $130 - $230 (Heating significant) Electricity, Heating, Cooling, Water etc.
Public Transportation $120 (Metro Transit monthly pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $430 - $630 Can be higher with more dining out or specialty stores.
Personal & Leisure $450 - $800+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $390 - $720+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $2,920 - $4,480+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of Faribo Insurance

1. What is the typical salary range (low to high) for most roles at Faribo Insurance?

The typical annual salary range for most roles at Faribo Insurance is approximately from $78,220 to $100,527. It's important to remember that these are overall averages, actual salaries vary significantly based on specific job titles, years of experience, skills, and location.

2. How much does Faribo Insurance pay compared to Benveo LLC?

The average annual salary at Faribo Insurance is $88,909, or an hourly wage of $43, in comparison to Benveo LLC which pays $86,683 per year or $42 per hour.

3. How does experience level affect salary at Faribo Insurance?

Experience level is a significant factor in determining salary at Faribo Insurance, as it is with most employers. Generally, employees with more years of relevant experience and a proven track record can command higher salaries. For example, a senior-level role will typically have a higher pay band than an entry-level or mid-career position within the same job family.

4. How can I determine if a salary offer from Faribo Insurance in Minneapolis is fair given the local cost of living?

To determine if a salary offer from Faribo Insurance in Minneapolis is fair, first compare the gross salary to our data for similar roles at Faribo Insurance and its competitors (see our similar company salaries section) . Then, critically, use our "Cost of Living Insights for Minneapolis" to understand its purchasing power.

5. What factors influence salary increases at Faribo Insurance?

Salary increases at Faribo Insurance are likely influenced by a combination of factors, including: individual employee performance against set goals, overall company performance and profitability, budget availability, changes in the market rate for similar roles (market adjustments), and sometimes cost-of-living increases.

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