Average Salary of Insurance Agents
The main job duty of insurance agents is to sell new policies to potential clients and current clients. They also work to make sure current policies are continually renewed and to upgrade them if possible. Insurance agents service existing accounts, and often are the first point of contact when a claim needs to be made. Some insurance agents recruit and train new agents. Salary information is provided by the Bureau of Labor Statistics and the Payscale website.
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Starting Salary
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Starting median salary as of 2009 for insurance agents is about $24,000, with an increase to about $36,000 with 5 years of experience.
General Range
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Because agents are paid on a commission basis, their skill at selling and their dedication to the job makes an enormous difference in their salary potential. In 2008, about 80 percent of insurance agents were making between $26,000 and $114,000.
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Average Range
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Narrowing it further, the middle 50 percent of agents in 2008 were making between $33,000 and $69,000.
Average Salary
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Average salary for all insurance agents in 2008 was about $29 an hour, or $60,000 annually.
Potential
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Agents who work long hours and network extensively, especially those with many years of experience, can make over $200,000 a year.
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