Financial Specialists vs Insurance Sales Agents salary

Based on data from the US Bureau of Labor Statistics, on average, Financial Specialists make $87,350 annually, while Insurance Sales Agents make $69,340 per year. As a result, Financial Specialists earn a wage that is higher than Insurance Sales Agents.

However, it's worth mentioning that wages can vary depending on factors like location, experience, and the specific setting in which the employee works. As an example, Insurance Sales Agents who work in Washington DC (with salary averaging $100,050) may earn more than those who work in Utah ($50,850).

Financial Specialists vs Insurance Sales Agents overview

Financial Specialists and Insurance Sales Agents are crucial to the Professional, Scientific, and Technical Services industry. People are often interested in learning about the distinctions between these job titles, including the average salary for each of them.

Financial Specialist average salary

As reported by the US Bureau of Labor Statistics, in 2021, the number of Financial Specialists employed in the United States was 2.9M, and they earned an average of $87,350 per year. The bottom 10 percent had a salary of $43,720 or less, and the top 10 percent had a salary of $140,710 or more. The average salary has increased by 2.2% in comparison to the previous year.

Do Financial Specialists make good money?

The mean salary of Financial Specialists is about a half above the average pay in the United States ($58,260). On the other hand, they make 4% less than the mean salary of the Professional, Scientific, and Technical Services industry ($91,150).

The mean salary of Financial Specialists is about a half above the average pay in the United States ($58,260).

Financial Specialists job growth

In 2021, there have been 145,370 more Financial Specialist job opportunities than the previous year across the nation, and that shows an increase of 5.3%. The average job growth rate for the past 3 years has been 2.5%.

Insurance Sales Agent job description

Insurance Sales Agents sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.

Insurance Sales Agent education and experience

39% of Insurance Sales Agents hold a Bachelor's Degree, 16% hold an Associate's Degree, and 15% have a High School Diploma. In terms of experience, 43% of Insurance Sales Agent occupations require no previous experience. A smaller number of roles (14%) require a previous experience of less than 1 month.

Insurance Sales Agent average salary

As reported by the US Bureau of Labor Statistics, in 2021, the number of Insurance Sales Agents employed in the United States was 422,600, and they earned an average of $69,340 per year. The bottom 10 percent had a salary of $29,970 or less, and the top 10 percent had a salary of $126,510 or more. The average salary marks an increase of 0.3% in comparison to the previous year.

Do Insurance Sales Agents make good money?

The mean salary of Insurance Sales Agents is 19% above the average salary in the United States ($58,260). On the other hand, they make 10% less than the mean earnings of the Insurance Carriers industry ($76,810).

The mean salary of Insurance Sales Agents is 19% above the average salary in the United States ($58,260).

Insurance Sales Agents job growth

In 2021, there have been 12,650 more Insurance Sales Agent roles than the previous year across the nation, and that marks a growth of 3.1%. The average job growth rate for the past 3 years has been 2.4%.

FAQ

Do Financial Specialists or Insurance Sales Agents make more?

The average earnings of Financial Specialists are about a quarter higher than those of Insurance Sales Agents. On average, Insurance Sales Agents make $69,340 per year, while Financial Specialists make $87,350.