Insurance Sales Agents vs Real Estate Brokers salary

According to data from the US Bureau of Labor Statistics, the average salary for Insurance Sales Agents is $69,340 per year, while Real Estate Brokers earn an average of $86,490 annually. Therefore, Insurance Sales Agents earn a lower salary than Real Estate Brokers.

However, it's important to keep in mind that the salary of an employee can be influenced by factors such as location and experience. In particular, Insurance Sales Agents working in Washington DC (with a wage of $100,050 on average) may have higher salaries than those in Utah ($50,850).

Insurance Sales Agents vs Real Estate Brokers overview

Insurance Sales Agents and Real Estate Brokers are two important jobs in the Professional, Scientific, and Technical Services industry. There is a general interest in understanding the differences between these job titles, including the average earnings for each of them.

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 have completed a Bachelor's Degree, 16% have an Associate's Degree, and 15% hold a High School Diploma. Regarding experience, 43% of Insurance Sales Agent jobs require no previous experience. A smaller percentage of jobs (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 has increased by 0.3% compared the previous year.

Do Insurance Sales Agents make good money?

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

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

Insurance Sales Agents job growth

In 2021, there have been 12,650 more Insurance Sales Agent positions than the previous year nationwide, which marks a rise of 3.1%. The average job growth over the past 3 years has been 2.4%.

Real Estate Broker job description

Real Estate Brokers operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.

Real Estate Broker education and experience

37% of Real Estate Brokers hold a Bachelor's Degree, 24% hold a College Course Certificate, and 12% have a High School Diploma. When it comes to experience, 28% of Real Estate Broker occupations do not require any previous experience. A smaller number of roles (24%) require a previous experience of 2 to 4 years.

Real Estate Broker average salary

According to the US Bureau of Labor Statistics, there were 48,460 Real Estate Brokers employed in the United States in 2021, and they earned an average annual income of $86,490. The bottom 10 percent earned $30,470 or less, and the top 10 percent earned $176,080 or more. Compared to the previous year, the mean salary has gone up by 6%.

Do Real Estate Brokers make good money?

Real Estate Brokers generally earn good salaries, since their mean salary is about a half above the average salary in the United States ($58,260). Additionally, they make about a half more than the mean earnings of the Real Estate industry ($55,880).

Real Estate Brokers generally earn good salaries, since their mean salary is about a half above the average salary in the United States ($58,260).

Real Estate Brokers job growth

The employment of Real Estate Brokers has grown over the past two years. In 2021, there have been 3,850 more roles than the previous year across the nation, and that marks a growth of 8.6%. The average job growth rate for the past 3 years has been 6.3%.

FAQ

Do Insurance Sales Agents or Real Estate Brokers make more?

The average earnings of Real Estate Brokers are about a quarter higher than those of Insurance Sales Agents. On average, Insurance Sales Agents make $69,340 per year, while Real Estate Brokers make $86,490.