Insurance agency personnel on average made more money in 2022 and employees reported higher satisfaction with their compensation in 2022 than in 2021, a
Insurance Agency Staffs Remain Positive Even Though Pay Is Down
Insurance agency personnel on average made a little less money in 2020 but they were more satisfied with their compensation in what was a stressful year.
Satisfaction with compensation rose across the board, according to the 2021 Agency Salary Survey, published annually by Insurance Journal. In fact, the annual Agency Compensation Satisfaction Index was the highest overall score in more than five years.
Changes in overall salary and total income dipped for all categories except one. Producers/sales saw an increase in total income change, the only category where income increased.
Satisfaction over compensation rose to 3.53 overall in 2020 from 3.35 overall in 2019, based on a scale of 1-to-5 where “5” equaled “most satisfied.” (See Agency Compensation Satisfaction Index chart.)