Independent insurance agents in California are making fairly decent money compared to their colleagues in other areas.
According to the most recent Bureau of Labor Statistic report for agents, California professionals bring home an average $74,010 a year—significantly higher than the national median of $48,150, or $23.15 an hour.
That’s the fourth highest annual income in the nation. Only agents in Rhode Island (with an annual mean wage of $88,670), Massachusetts ($79,950) and New York ($75,800) earn more.
Additionally, three areas in California are among the top 10 highest-paying metropolitan areas for agents in the country: Santa Ana-Anaheim-Irvine ($90,170), Oakland-Fremont-Hayward ($86,210) and San Francisco-San Mateo-Redwood City ($85,760).
BLS notes that the spread of agent salary is wide, with the median salary at $48,210 and those in the 90th percentile bringing home an average $117,830. And while California agents sit near the top in terms of compensation, those in West Virginia, Wyoming and New Mexico take home the lowest salaries.
Learn how much do insurance agents make by reading in this article.
Producers in Puerto Rico are the least well-paid, earning an average $34,400 annually.
The BLS also broke down average wage by metropolitan area. From that view, somewhat ironically, producers in Normal, Illinois make the most ($115,160).
Agents also do fairly well when compared to other insurance industry professionals. Underwriters outrank agents, with $70,100 on average, but agents fare better than claims adjusters ($62,300) and appraisers ($63,100).
Image Source: BLS
