How Much Do State Farm Agents Make?

The median salary of insurance agents increases based on years of experience.

State Farm agent salaries can vary based on factors such as years of experience and the size of her office. Agents have more than 90 products available to sell to clients, giving each representative a chance to enhance her earnings throughout the year.

Base Salary

According to an August 2010 Payscale Inc. chart, the median salary for all State Farm sales agents is $31,150 a year. The median salary increases based on years of experience. Agents with five to nine years of experience average $36,531 a year. Agents with 10-19 years experience average $52,462. Agents with 20 years or more of experience average $57,90.

Incentives

In addition to salary, State Farm offers many incentives to its agents. These include auto and fire insurance base, financial services base compensation, product-line bonus payments, life business development allowance, premium builder payments, first-class trips and company and industry recognition programs.

Benefits

Depending on years of experience, State Farm employees are eligible for up to 10 paid vacation days a year. This is in addition to seven paid holidays and three paid personal days. Medical, Dental, Vision and Life Insurance are among the health benefits for agents. Financial packages include retirement, 401(k), mutual funds and more.

References

• Payscale: Salary Snapshot for State Farm Insurance Company Employer
• State Farm: Become an Agent: Costs and Compensation