What is the salary and career path for a insurance broker?
Insurance broker maps closely to Insurance Sales Agents (SOC 41-3021), the BLS occupation that covers agents and brokers alike, so the OEWS May 2025 median is $62,280 a year ($29.94 an hour), from $37,330 at the 10th percentile to $138,140 at the 90th. Brokers who place large commercial accounts and earn on premium volume cluster well into the upper range. BLS projects 3.7% growth over 2024–2034, about average, with roughly 47,000 openings a year across the code. Every broker holds a state producer license, often a distinct broker license, earned through pre-licensing coursework and a state exam.
- Insurance Brokers earn a national median $62,280/yr ($29.94/hr) (BLS OEWS May 2025, SOC 41-3021); the top 10% clear $138,140.
- Every insurance broker holds a state producer license — sometimes a distinct broker license — earned through pre-licensing coursework and a state exam.
- BLS projects 3.7% growth for 2024–34, about average, with roughly 47,000 openings a year across the code.
- The ladder runs from producer trainee through commercial broker to brokerage principal near $138,140, driven by premium-based commissions.
Career Path
How do you become a insurance broker?
Producer / Account Executive Trainee
Supports accounts and learns markets under a broker; pay near the BLS 10th percentile.
Insurance Broker
Places and services client accounts across carriers — around the $62,280 median.
Senior / Commercial Broker
Handles large commercial and specialty accounts; earnings near the 75th percentile.
Producer Principal / Brokerage Partner
Owns major accounts or a brokerage stake; top-decile pay near the 90th percentile.
BLS Salary Data
Which state pays insurance brokers the most in 2026?
Source: BLS OEWS May 2025, SOC 41-3021. National median: $62,280. Full salary guide →
Pay Comparison
How does insurance broker pay compare to related roles?
Head-to-head against the roles insurance brokers most often weigh against. BLS OEWS May 2025 medians.
Takeaway: insurance brokers rank 4 of 4 on median pay among the comparable roles above, with a projected +3.7% employment change 2024–34 (BLS Employment Projections). Pay position and projected demand together are what determine how quickly insurance brokers clear offers across the GlobalCybers placement network.
Methodology & Sources
How this guide is sourced and reviewed
Wages (BLS): All median and percentile figures are BLS OEWS May 2025, SOC 41-3021 (insurance brokers) and the matching SOC codes for each comparison role. OEWS is sampled on a rolling 3-year basis and published ~10 months after collection, so treat it as a firm anchor rather than a spot rate.
Job growth: Projected 2024–34 employment change, and the average annual openings figure, are from the BLS Employment Projections program, by occupation. Openings are a per-year average over the projection decade, not a decade total.
Licensing & credentials:Requirements are drawn from the issuing state licensing boards and the certifying body behind each credential — not from third-party aggregators.
Demand signal:Any statement about how quickly this role clears offers reflects GlobalCybers placement request volume across the trailing 12 months — our own network data, offered as a directional real-world indicator alongside BLS, not a market-wide survey.
Credentials
What licences and certifications do insurance brokers need?
The mandatory license, issued by each state, that authorizes placing coverage; some states issue a distinct broker license. See all state licences →
A National Alliance designation covering practical, advanced insurance and account-management skills.
An Institutes designation that signals deep property-casualty expertise valued in commercial brokerage.
Tools & Software
What tools and software do insurance brokers use on the job?
⚙️ Core Tools & Equipment
📊 BLS Employment Data, SOC 41-3021
Salary Levers
How do insurance brokers earn above the $62,280 BLS median?
Account size and premium volume
Placing larger commercial accounts moves a broker from the $37,330 entry tier toward the $62,280 median as commissions scale with premium.
Specialty and commercial expertise
Handling specialty and E&S lines lifts earnings toward the $96,950 upper quartile.
Book ownership and equity
Owning a large book or brokerage equity pushes earnings toward the $138,140 top decile.
This Route vs. College
Is becoming an insurance broker worth it vs. a 4-year degree?
The entry route into this role, set against a four-year degree. Same starting line, side by side.
Entry-level (10th percentile) and all-level median wages: BLS OEWS May 2025, SOC 41-3021. Student-debt figure: median federal borrower balance for bachelor's-degree completers. Starting-salary comparison is illustrative and varies by field and region.
FAQ
Insurance Broker Career, Frequently Asked Questions
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