Insurance Broker Salary in Paramus, New Jersey

How much does an Insurance Broker make in Paramus, NJ? The average Insurance Broker salary in Paramus, NJ is $102,098 as of December 27, 2022, but the range typically falls between $88,259 and $124,764. 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 Paramus, New Jersey    Paramus (/pəˈræməs/ pə-RAM-əs) is a borough in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough's population....More

Paramus, New Jersey  area prices were up 1.5% from a year ago    View the Cost of Living in Paramus, New Jersey

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 advises 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 2023 Salary.com)

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

Step of 3

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

Average Base Salary

Core compensation

 
 
 
88259
124764
102098

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
91463
133445
107256
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Broker in Paramus, NJ. The base salary for Insurance Broker ranges from $88,259 to $124,764 with the average base salary of $102,098. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $91,463 to $133,445 with the average total cash compensation of $107,256.
Step of 3

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How much should you be paid?

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

88259
124764

 

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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

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Job Openings for Insurance Broker in Paramus, NJ