Insurance Broker Salary in Philadelphia, Pennsylvania

How much does an Insurance Broker make in Philadelphia, PA? The average Insurance Broker salary in Philadelphia, PA is $90,082 as of May 27, 2021, but the range typically falls between $77,864 and $110,070. 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 Philadelphia, Pennsylvania    Philadelphia, sometimes known colloquially as Philly, is the largest city in the U.S. state and Commonwealth of Pennsylvania, and the sixth-most popul....More

Philadelphia, Pennsylvania  area prices were up 1.0% from a year ago    View the Cost of Living in Philadelphia, Pennsylvania

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 2021 Salary.com)

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

Average Base Salary

Core compensation

 
 
 
77864
110070
90082

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
80700
117724
94626
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Insurance Broker in Philadelphia, PA. The base salary for Insurance Broker ranges from $77,864 to $110,070 with the average base salary of $90,082. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $80,700 to $117,724 with the average total cash compensation of $94,626.
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77864
110070

 

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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 Philadelphia, PA