Insurance Broker Executive Salary in Chicago, Illinois

How much does an Insurance Broker Executive make in Chicago, IL? The average Insurance Broker Executive salary in Chicago, IL is $249,163 as of May 27, 2021, but the range typically falls between $205,837 and $305,530. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. 

About Chicago, Illinois    Chicago (/ʃɪˈkɑːɡoʊ/ (listen), locally also /-ˈkɔː-/), officially the City of Chicago, is the most populous city in Illinois, as well as the third mos....More

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Job Description

Directs the marketing of customer business to different insurance carriers to obtain quotes based on an evaluation and analysis of the customer's insurance needs and requirements. Leads team to obtain and negotiate quotes from different carriers, meet profitability targets, drive customer satisfaction and retention. Ensures efficient operational processes. May lead the most complex accounts and deals. Has deep knowledge of complex insurance products and multiple lines such as commercial property & casualty, employee benefits, and others. Requires insurance licensing. May also require professional credentials such as CPCU (Chartered Property Casualty Underwriter), CIC (Certified Insurance Counselor), or ARM (Associate in Risk Management). Requires a bachelor's degree. Typically reports to senior management. Typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. (Copyright 2021 Salary.com)

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Understand the total compensation opportunity for a Insurance Broker Executive, base salary plus other pay elements

Average Base Salary

Core compensation

 
 
 
205837
305530
249163

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
238715
382226
296347
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Broker Executive in Chicago, IL. The base salary for Insurance Broker Executive ranges from $205,837 to $305,530 with the average base salary of $249,163. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $238,715 to $382,226 with the average total cash compensation of $296,347.
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205837
305530

 

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Career Path for this job

  1. Down a level:

    Insurance Managing Broker

    7 + years experience
    Bachelor's Degree

  2. This Job:

    Insurance Broker Executive


    Bachelor's Degree

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Job Openings for Insurance Broker Executive in Chicago, IL