Insurance Managing Broker Salary in the United States

How much does an Insurance Managing Broker make in the United States? The average Insurance Managing Broker salary in the United States is $207,387 as of September 26, 2019, but the range typically falls between $166,907 and $259,233. 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.  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. Work is highly independent. May assume a team lead role for the work group. A specialist on complex technical and business matters. Typically requires 7+ years of related experience. (Copyright 2019 Salary.com)

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

Average Base Salary

Core compensation

 
 
 
166907
259233
207387

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
183151
343097
238182
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Managing Broker in the United States. The base salary for Insurance Managing Broker ranges from $166,907 to $259,233 with the average base salary of $207,387. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $183,151 to $343,097 with the average total cash compensation of $238,182.
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166907
259233

 

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Career Path for this job

  1. Down a level:

    Insurance Senior Broker

    4 - 7 years experience
    Bachelor's Degree

  2. This Job:

    Insurance Managing Broker

    7 + years experience
    Bachelor's Degree

  3. Up a level:

    Insurance Broker Executive


    Bachelor's Degree

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Job Openings for Insurance Managing Broker