The definitive compensation compass for US insurance agencies and brokerages

In a rapidly evolving insurance landscape where talent retention and competitive compensation are more critical than ever, understanding salary trends is essential.  

Recognizing this need, Insurance Business has launched its “Insurance agencies and brokerage salaries” dashboard, which is packed with insights that can help ensure your compensation packages remain competitive, equitable, and compliant.  

The dashboard – now live – provides a clear view of salary trends for key roles in insurance agencies and brokerages across the US, including average, median, and percentile wages by occupation, state, and year for both broad and detailed compensation analysis.  

Take a look today and unlock a host of valuable insights such as:   

• CEO pay declined in 2024, but they remained in the lead. CEOs had the highest salaries among all occupations, but they declined 1.3% in 2024 to an average of $317,110 versus $321,360 the year before. This is the first time since 2019 that the mean CEO pay declined. Indeed, in 2023, their salaries increased 7.4% on the previous year. Although CEOs had the highest salaries, statisticians received the greatest increase in 2024, coming in at 11%. This contrasts sharply with the 1.5% decline they suffered in 2023.  
• DC maintained an average salary lead across all occupations. At the state level, the District of Columbia hosted the highest average salary at $109,420 across all occupations in 2024. The state has recorded increases every year on record, and 2024’s total represents a 3% increase from 2023. Massachusetts and Washington came in at second and third places, respectively, while states like Mississippi, Arkansas, and West Virginia recorded the lowest average salaries across all occupations.  

Given the market’s increasingly competitive and talent-driven nature, the compensation data offered in this dashboard is a valuable tool that can support insurers' real-world decisions including salary negotiations, regional expansion, and M&A analysis. 

Access the “Insurance agencies and brokerage salaries” dashboard here to know more.  

Subscribe now to unlock full access.