I’ve been a licensed general lines (2-20) insurance agent for year and a half and have sold around 2M in premium, of which most of it is personal lines (homeowners, DP), and some commercial lines business. Even though I’m licensed to write my own business, the sole producer in the company is my boss. I currently make 35k + 15k in commissions (approximately). Is this a normal salary? Or how much should I be making? Appreciate your help
Sounds like it’s time to go full commission instead of salary +. Negotiation time.
Agreed
What’s the average agency commission on most of your business? And what’s the firms typical producer commission? You total comp should reflect somewhere close to that
This sounds low for 2 million in premium sold in a year and a half- though that translates a little different depending on which state you are in (since premiums vary so much).
An agent selling $2m in premium at our company in that time frame (we are an NC/VA based office) would be making probably $75k/year minimum (depending on the split of personal/commercial, etc)