Recently hired sales agents are usually paid a moderate salary while learning the business. After becoming established, however, most agents are paid on the basis of a commission on sales. Agents who work directly for an insurance company often receive a base salary in addition to some commission on sales production. Unlike life insurance agents, who receive a high first-year commission, the property and casualty agent usually receives the same percentage each time the premium is paid.
In May 2023, insurance sales agents (including property and casualty) earned a median annual salary of $59,080, according to the U.S. Department of Labor. The lowest 10 percent earned $34,940, and the highest 10 percent earned $134,420.
Salespeople employed by companies often receive fringe benefits (such as retirement income, sick leave, and paid vacations), whereas self-employed agents or brokers receive no such benefits.
- Accountants
- Auditors
- Business Managers
- Financial Institution Officers and Managers
- Financial Quantitative Analysts
- Forensic Accountants and Auditors
- Fraud Examiners, Investigators, and Analysts
- Health Care Insurance Navigators
- Insurance Claims Representatives
- Insurance Fraud Investigators
- Insurance Policy Processing Workers
- Insurance Underwriters
- Life Insurance Agents and Brokers
- Regulatory Affairs Managers
- Risk Managers
