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The differences between agents and licensed insurance agents can be seen in a few details. Each job has different responsibilities and duties. Additionally, a licensed insurance agent has an average salary of $54,118, which is higher than the $37,864 average annual salary of an agent.
The top three skills for an agent include insurance products, customer service and life insurance. The most important skills for a licensed insurance agent are excellent time management, work ethic, and strong customer service.
| Agent | Licensed Insurance Agent | |
| Yearly salary | $37,864 | $54,118 |
| Hourly rate | $18.20 | $26.02 |
| Growth rate | 6% | 6% |
| Number of jobs | 184,325 | 78,016 |
| Job satisfaction | 2 | - |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 50% |
| Average age | 46 | 46 |
| Years of experience | - | - |
Agents are individuals who are employed by their clients to represent them in various dealings. Agents are usually employed by people in the show business industry, such as actors, writers, or directors. They meet people who are interested in dealing with their clients. They listen to the plans and vision for the project and assess if the project fits their clients' interests or public image. In the case of agents whose clients are actors, they send their clients to auditions upon review of the project details. Agents are also responsible for negotiating terms on behalf of their clients, such as salary, royalties, and set benefits, among others. They also inform the project leaders of their clients' demands on set. Agents are expected to be business-savvy and good negotiators.
A licensed insurance agent is primarily responsible for finding and utilizing opportunities to secure insurance sales. Moreover, a licensed insurance agent must reach out to potential clients, discuss and negotiate terms, respond to inquiries, and perform various assessments to determine their ability to uphold financial obligations. Besides building a client base, they also need to handle current policies, process renewals, monitor claims, maintain an accurate record of transactions, prepare progress reports and strategies, and distribute policy proceeds according to the company rules and regulations.
Agents and licensed insurance agents have different pay scales, as shown below.
| Agent | Licensed Insurance Agent | |
| Average salary | $37,864 | $54,118 |
| Salary range | Between $19,000 And $72,000 | Between $32,000 And $88,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | Hawaii |
| Best paying company | Latham & Watkins | Torchmark |
| Best paying industry | - | Finance |
There are a few differences between an agent and a licensed insurance agent in terms of educational background:
| Agent | Licensed Insurance Agent | |
| Most common degree | Bachelor's Degree, 44% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between agents' and licensed insurance agents' demographics:
| Agent | Licensed Insurance Agent | |
| Average age | 46 | 46 |
| Gender ratio | Male, 50.5% Female, 49.5% | Male, 39.0% Female, 61.0% |
| Race ratio | Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.8% Asian, 4.9% White, 66.4% American Indian and Alaska Native, 0.1% | Black or African American, 9.2% Unknown, 3.6% Hispanic or Latino, 15.7% Asian, 4.9% White, 66.5% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |