Insurance Broker Salary in the United States

How much does an Insurance Broker make hourly in the United States? The average hourly wage for an Insurance Broker in the United States is $39 as of September 26, 2019, but the range typically falls between $34 and $47. Hourly rate 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.  View the Cost of Living in Major Cities

Job Description

Develops and markets customer business to different insurance carriers to obtain quotes based on an evaluation and analysis of the customer's insurance needs and requirements. Assesses and negotiates quotes from different carriers based on exposure, risk, and financing. Develops recommendations to advise customers on the best options that will meet their needs and to place and retain the business. Requires knowledge of complex insurance products and a variety of lines such as commercial property & casualty, employee benefits, and others. Requires a bachelor's degree. 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). Typically reports to a supervisor or manager. Occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. Typically requires 2 -4 years of related experience. (Copyright 2019 Salary.com)

Take just three simple steps below to generate your own personalized salary report.

Step of 3

Understand the total hourly compensation opportunity for a Insurance Broker, hourly wage plus other pay elements

Average Hourly Wage

Core compensation

 
 
 
34
47
39

Average Total Hourly Cash Compensation

Includes base and short-term incentives

 
 
 
35
51
41
These charts show the average hourly wage (core compensation), as well as the average total hourly cash compensation for the job of Insurance Broker in the United States. The average hourly rate for Insurance Broker ranges from $34 to $47 with the average hourly pay of $39. The total hourly cash compensation, which includes base and short-term incentives, can vary anywhere from $35 to $51 with the average total hourly cash compensation of $41.
Step of 3

Discover how your pay is adjusted for skills, experience, and other factors

How much should you be paid?

For a real-time salary target, tell us more about your role in the four categories below.

34
47

 

Step of 3

Recalculate your target pay based on your unique skills and experiences

Career Path for this job

  1. Down a level:

    Insurance Broker Trainee

    0 - 2 years experience
    Bachelor's Degree

  2. This Job:

    Insurance Broker

    2 - 4 years experience
    Bachelor's Degree

  3. Up a level:

    Insurance Senior Broker

    4 - 7 years experience
    Bachelor's Degree

Salary for

Are you an HR manager or compensation specialist?

Salary.com's CompAnalyst platform offers:

  • Detailed skills and competency reports for specific positions
  • Job and employee pricing reports
  • Compensation data tools, salary structures, surveys and benchmarks.
Learn about CompAnalyst
Job Openings for Insurance Broker