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Interesting question!!! Approximately 89k. Bachelors and in process MBA. Fairly certain I probably would still be where I am today without the degrees.
PI2, where did you get your MBA?
Tbh I've seen folks here have MBAs from some questionable schools and still make a good living on the sales side. Corporate side is different though
Education helped me a ton.
Salary with just BS in math - 50K 2006
Salary right before MS in math - 55K 2011
Salary in firsr post MS job - 75k 2011
Salary pre-MBA was up to 88K 2015
Salary in first post mba job was 125K 2015
Salary now in 2023 is 258K
😳
My first role in insurance required a bachelors degree- so only for that- would I say it affected my career growth/salary.
13 years in the industry, $139k base, variable up to 20% bonus.
Bachelors degree at 66k I think a degree doesn’t matter. Unless you wanna be an engineer or doctor where you need certifications then it’s worth it. Otherwise it’s just pressure from society
T3, how so?
I'm right at 100K with an Associates degree in an area with a much lower cost of living.
An executive MBA didn’t help my salary one bit. In fact, from 2011-2014 post graduation, my pay was stagnant at best. Progressive responsibility and “ROI” got me off the plateau but I’ve still not seen significant gains because of an MBA.
Graduated in 2019 with a bachelors - $120k base plus bonus (finding out my salary increase/ bonus tomorrow). I don’t feel like a masters degree would provide much benefit at this point in my career, but maybe in another 5-10 years.
I’m not sure either. AVP is a huge accomplishment!! I hope to be that great in my career!
I do not think a degree has helped me in my career nor do I think it will in the future. I have attended college but do not have a degree.
$50k at age 21 (in a different industry/role)
$100k at age 27 after 5 years in Claims
I am a supervisor, yes!
In my opinion insurance is an fabulous industry that a degree doesn’t matter. I have a very good income with no degree. They’ll teach you anything you need to know!!
I have a Bachelor’s and a Master’s. I’m at 107k. My company required a bachelors to promote so I believe I wouldn’t be there I am without at least that.
Bachelor’s 107k pre-bonus which ranges from 15-30k
I have a high school diploma and I’m making 65k a year. My job doesn’t require a degree
As an uw you don’t need a college degree, but the same role will require more work experience if only a high school degree. Also, some promotional opportunities require a college degree. Masters may help once you go up the executive ladder but sometimes it’s just based on who you know.
I know people who don’t have college degrees and are underwriters and even managers! It happens! Sometimes experience matters more. UA to UW role without degree is even an easier route imo. Also, the job profile specifically says years of industry experience required between degree holder vs non degree holder.
Prior to my bachelor’s degree I was making 30k(2005).I used the company’s tuition assistance and was immediately promoted to a position making 60k (2006). I used the companies tuition assistance again for my masters (2012), was immediately promoted and my salary increased to 75k. The company I am with now will not hire without at least a bachelor’s degree and I am now making 120k.
130K last year. No Degree.
At $65k with no degree. I’m not sure it would’ve made much of a difference in my particular role. I feel like working in claims, experience matters more and perhaps designations moreso than college degrees.
No degree, $115K plus bonus ($16K this year)
What is your position
At least get your bachelor's degree. Most companies will take a flyer on an entry level with no degree but if you ever want to move up in the company or change companies the lack of a degree could hold you back or screen you out. You might feel stuck after 40.
Bachelors + MBA, currently sitting at $140k. 11 years exp, claims. Getting the MBA opened HUGE doors for me at Liberty. Without it I don’t think I would be where I am…..plus, they paid for it ($70k)!!
IMO the higher you go in the corporate ladder you MUST have at least a bachelors, or else you’ll be excluded. The jury is still out on the MBA, but can only speak from my experience….went from 90k to 140k in a little under 2 years since getting my MBA
Recently left the industry, while there was making 65k with a JD. I started with the bachelors and worked my way up while earning the JD. Think it was the time more than the degree that led to my salary.
Why did both of you get law degrees and choose to work as a data analyst and an underwriting consultant?
I would be making the same without the MBA, I think.
As a commercial underwriter, I don’t think it’s absolutely necessary, but I don’t think I would have the job without it. Can be very competitive so it definitely helps.