Insurance Broker Salary: City-by-City and State-by-State Breakdown

If you're considering a career as an insurance broker, you're likely curious about the salary potential in different cities and states. In the US, insurance broker salaries vary significantly depending on the location.

In major cities like New York, the average insurance broker salary is around $83,000 per year. This is more than double the national average. For example, in New York City, insurance brokers can earn up to $120,000 annually.

On the other hand, insurance brokers in smaller cities or rural areas tend to earn lower salaries, such as around $40,000 in some states.

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The salary range for insurance brokers varies widely depending on factors like location, experience, and employer. The average annual salary for an insurance broker is around $94,000, according to data from an employment search website.

The Bureau of Labor Statistics doesn't provide a specific figure for insurance broker earnings, but we can look at the state-by-state breakdown to get an idea of the range. California, Massachusetts, and New Jersey are among the top-paying states for insurance brokers, with average salaries ranging from $102,504 to $103,917.

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Experience also plays a significant role in determining an insurance broker's salary. Entry-level insurance brokers earn around $56,300 per year, while senior insurance brokers can earn up to $110,000. Mid-level insurance brokers fall somewhere in between, with average salaries around $96,400.

Here's a rough breakdown of the salary ranges for insurance brokers based on experience level:

Keep in mind that these figures are just averages, and actual salaries can vary significantly depending on individual circumstances.

The national average insurance broker salary is a great benchmark to keep in mind. According to available data, the national average insurance broker salary is around $65,000 per year.

The national average has seen some fluctuations over time. Insurance broker salaries have increased steadily since 2010, with a significant jump in 2015.

To give you a better idea, insurance broker salaries can vary significantly depending on the city or state you're in. For example, insurance broker salaries in cities like New York or San Francisco are much higher than the national average.

Insurance broker salaries have also been influenced by global market trends. The global average insurance broker salary is around $50,000 per year, which is lower than the national average in the US.

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Insurance brokers can earn a wide range of salaries, from $62,000 to $141,000 per year, depending on the state and city they work in.

The national average salary for an insurance broker is around $94,000 per year, with an hourly wage of $45. However, salaries can vary significantly depending on experience, with entry-level brokers earning around $56,300 per year and senior brokers earning up to $110,000 per year.

Here's a breakdown of average salaries for insurance brokers in different states and cities:

Keep in mind that these figures are just averages, and actual salaries can vary depending on a variety of factors, including employer, industry, and individual performance.

If you're curious about how much insurance brokers make in different cities, let's take a look at some of the highest-paying cities in the US.

San Francisco, CA, takes the top spot with an average yearly salary of $117,767 for insurance brokers. This is likely due to the city's high cost of living and strong economy.

New York, NY, comes in second with an average annual salary of $110,041 for insurance brokers. Boston, MA, follows closely behind with an average yearly salary of $105,613 for insurance brokers.

Here's a list of the top 10 highest-paying cities for insurance brokers in the US, based on the data:

Distribution plays a significant role in salary breakdowns, and understanding how it works can help you make informed decisions about your compensation.

The average employee in the United States receives a base salary of around $55,000 per year, with a bonus of approximately 10% to 15% of their annual salary.

In some industries, bonuses can be as high as 20% or more of the annual salary, but this is not the norm.

Bonuses are often tied to performance metrics, such as sales targets or project completion deadlines.

The distribution of bonuses can vary widely depending on the company and industry, with some companies paying out bonuses annually and others quarterly.

In some cases, bonuses may be paid out in stock or other forms of compensation.

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Insurance broker salaries can vary significantly depending on the company. The highest-paying companies for insurance brokers are Liberty Mutual Insurance and New York Life Insurance, with average salaries of $105,486 and $97,721 respectively.

These companies are followed closely by Family First Life and Criterion Executive Search, which offer highly competitive salaries. The average salary for insurance brokers at these companies is around $96,506 and $89,059 respectively.

Here are the top 5 companies with the highest average salaries for insurance brokers:

If you're looking for companies that pay their insurance brokers well, you're in luck. Companies like Liberty Mutual Insurance and New York Life Insurance are at the top of the list.

Liberty Mutual Insurance takes the number one spot with an average salary of $105,486. New York Life Insurance follows closely with an average salary of $97,721. These numbers are significantly higher than the average salaries at other companies.

Here are the top 5 companies that pay insurance brokers the most, based on our most recent salary estimates:

These companies are definitely worth considering if you're looking for a high-paying job as an insurance broker.

If you're looking to maximize your earning potential as an Insurance Broker, it's worth considering the top paying industries in the field.

The top paying industries for an Insurance Broker job vary depending on the position's specific responsibilities, employers, and qualifications.

Professional, Scientific, and Technical Services is one of the top paying industries for Insurance Brokers, with many opportunities available in this field.

Insurance Carriers and Related Activities is another high-paying industry, with a range of roles available, from underwriting to claims handling.

Agencies, Brokerages, and Other Insurance Related Activities, Insurance Agencies and Brokerages, and Insurance Carriers are also among the top paying industries for Insurance Brokers.

Finance and Insurance is a broad industry that encompasses many areas related to insurance, including investment and banking services.

Here are some of the top paying industries for Insurance Brokers, grouped by category:

The highest paying cities for insurance brokers are a great place to start if you're looking to make a good living in this field. According to the data, Birmingham, AL, is the top-paying city for insurance brokers, with an average salary of $101,259 per year.

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Medford, OR, takes the second spot, with an average salary of $100,860 per year. These cities are followed closely by Lincoln, NE, with an average salary of $94,600 per year.

If you're considering a career as an insurance broker, it's worth noting that the top-paying cities are often located in states with a high demand for insurance services. For example, Alabama and Oregon have a high demand for insurance due to their growing populations and economies.

Here are the top 5 highest paying cities for insurance brokers:

These cities offer a great opportunity for insurance brokers to earn a high salary and build a successful career.

If you're considering a career in insurance, there are several jobs related to an insurance broker that you might find interesting.

The top paying industries for an insurance broker include Professional, Scientific, and Technical Services, Insurance Carriers and Related Activities, and Agencies, Brokerages, and Other Insurance Related Activities.

You can find a range of jobs related to insurance brokers, from entry-level positions to executive roles. For example, an Insurance Broker Executive can earn up to $263,044 per year.

Here are some jobs similar to an insurance broker, including Insurance Producer Salaries, Insurance Agent Salaries, Insurance Solicitor Salaries, and Insurance Salesperson Salaries.

Some of the highest paying types of insurance brokers are broker, licensed insurance producer, and insurance producer, with salaries ranging from $58,529 to over $263,044.

Here's a list of some of the highest paying jobs related to insurance brokers: