MFS Insurance Services Salary

MFS Insurance Services Salary

How much does the MFS Insurance Services Pay for employees?

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As of August 2026, the average annual salary for employees at MFS Insurance Services in the United States is $96,788. This translates to an approximate hourly wage of $47. Salaries at MFS Insurance Services typically range from $85,157 to $109,440 annually, reflecting the diverse roles and experience levels within the company. MFS Insurance Services’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 MFS Insurance Services Pay for Different Roles?

Explore detailed salary information for specific jobs at MFS Insurance Services. 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.
How accurate does the salary look to you?

Current Job Openings at MFS Insurance Services

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

Is MFS Insurance Services’s Pay Competitive? Salary Benchmarking Analysis

How does MFS Insurance Services’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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90k
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Average Salary ($/year)
MFS Insurance Services
Insurance
Ramey Insurance Agency
Alternative Risk Solutions LLC
Industry Comparison
Our data shows that, on average, compensation at MFS Insurance Services is below the average for the U.S. Insurance industry by approximately 22%. This positioning suggests their pay is below the market average within their sector.
Peer Company Comparison
To provide a broader market perspective, we compared MFS Insurance Services average annual salary with several similar companies. MFS Insurance Services average salary of $96,788 is higher than Ramey Insurance Agency, which has an average salary of $86,293. It is higher than Alternative Risk Solutions LLC, with their average salary at $89,247. This places MFS Insurance Services in a competitive position among its peers.
See Your True Competitors
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 MFS Insurance Services's Salaries Compare to Similar Companies?

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

Employee Reviews: Working at MFS Insurance Services

Considering a career at MFS Insurance Services? 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.
Overall, it’s a great place for those looking to build a long-term career in insurance. The insurance training programs are top-notch, and leadership is invested in employee success. The insurance industry is fast-paced, but the team is supportive. Work-life balance is respected, and the office atmosphere is positive. It’s a forward-thinking employer in the insurance space.
Commented in April 27, 2025
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Compensation is competitive, and the 401(k) match is a great perk. The team atmosphere is collaborative, and managers are open to feedback. I’ve enjoyed working here—the team is knowledgeable, and management is supportive. The company is well-run, with a focus on efficiency. Compensation is competitive, and benefits are comprehensive. I joined this insurance firm a year ago, and it’s been a positi...
Commented in December 15, 2024
18
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I’ve been with this insurance firm for over two years, and it’s been a fantastic journey. Management is supportive, and career advancement is possible. The insurance industry knowledge gained is invaluable. The office environment is modern, and remote workers receive good tech support.
Commented in March 02, 2024
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MFS Insurance Services Overview

Website
www.mfsinsurance.com
Founded In
2001
Employees
<25 employees
Industry
Insurance
Headquarter Address
1704 W Foster Ave Chicago Illinois IL 60640
Revenue
<$5 Million
Phone Number
+1 8479850062
Social Media
About MFS Insurance Services
MFS Insurance Services has been providing their Insurance services to clients since 1995 in Schaumburg and Chicago. We are presently licensed in Illinois, Indiana, Wisconsin and Florida. This is no cookie cutter approach to insurance as MFS as an independent agency has access to many companies and will provide quotes from multiple carriers as our goal is to find the best coverage at the lowest pri

What Benefits Does MFS Insurance Services Offer Beyond Salary?

A competitive compensation package is more than just a salary. MFS Insurance Services 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 Chicago?

Understanding the cost of living near Chicago is key to truly evaluating a salary offer or your current compensation at MFS Insurance Services.
Chicago's Cost of Living Index is approximately 106.9 (6.9% more expensive than US average; 14.0% more than IL average). Major US city, housing varies greatly by neighborhood but can be high, extensive CTA transit. When planning your budget based on a salary from MFS Insurance Services, consider these typical monthly expenses:
Expense Category Estimated Monthly Cost Key Considerations / Notes
Housing (1-BR Apt Rent) $1,700 - $2,600+ A significant portion of MFS Insurance Services salary. Location choices impact this heavily.
Utilities (Basic) $140 - $230 Electricity, Heating, Cooling, Water etc.
Public Transportation $105 (CTA 30-day pass) Essential for most commuters; car ownership is costly.
Groceries (Single Person) $430 - $640 Can be higher with more dining out or specialty stores.
Personal & Leisure $450 - $800+ Dining out, entertainment, shopping. Highly variable.
Healthcare (Individual) $400 - $750+ Varies significantly by plan & employer contribution.
Subtotal (Excluding Taxes) $3,225 - $5,025+ This subtotal does not include income taxes (federal, state, local), which can significantly impact your take-home pay.

FAQs of MFS Insurance Services

1. What is the average salary for employees at MFS Insurance Services?

The average annual total compensation for employees at MFS Insurance Services is approximately $96,788. However, this is an aggregate figure, actual salaries can range significantly, typically from $85,157 to $109,440, depending on factors like job role, experience, and location.

2. How much does MFS Insurance Services pay compared to Ramey Insurance Agency?

The average annual salary at MFS Insurance Services is $96,788, or an hourly wage of $47, in comparison to Ramey Insurance Agency which pays $86,293 per year or $41 per hour.

3. What is the lowest salary at MFS Insurance Services?

The lowest-paying job at MFS Insurance Services is an Assistant Preschool Teacher with a salary of $27,182 per year. The lowest- paying job depends heavily on the specific role, location, whether it's an hourly or salaried position, and if it's full-time, part-time, or an internship. Generally, entry-level positions might represent the lower end of the pay scale.

4. How does having a professional certification impact salary for relevant roles at MFS Insurance Services?

Professional certifications like PMP (for Project Managers), CPA (for Accountants), or another relevant certification for the industry can often lead to higher salaries and better job prospects at MFS Insurance Services for applicable roles. Certifications demonstrate a verified level of expertise and commitment to a profession, making candidates more competitive.

5. Does MFS Insurance Services offer cost-of-living adjustments (COLA) for employees in high-cost areas like Chicago?

While some companies offer formal COLA, many, including potentially MFS Insurance Services, incorporate cost of living considerations into their overall salary structure for different locations rather than as a separate, itemized adjustment. This means their base pay bands for roles in high-cost cities like New York City are generally set higher to account for these local market factors.

6. What's the typical process for salary reviews and raises at MFS Insurance Services?

Most companies, likely including MFS Insurance Services, conduct formal salary reviews annually, often tied to performance evaluations. During these reviews, factors like individual performance, meeting goals, company performance, and market adjustments are typically considered for potential salary increases.

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