Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between insurance agents and finance advisors can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance advisor has an average salary of $64,993, which is higher than the $51,936 average annual salary of an insurance agent.
The top three skills for an insurance agent include customer service, insurance sales and health insurance. The most important skills for a finance advisor are team support, wealth management, and securities.
| Insurance Agent | Finance Advisor | |
| Yearly salary | $51,936 | $64,993 |
| Hourly rate | $24.97 | $31.25 |
| Growth rate | 6% | 15% |
| Number of jobs | 67,977 | 106,311 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 74% |
| Average age | 46 | 45 |
| Years of experience | - | 4 |
An insurance agent is responsible for inviting potential clients to the insurance company by offering different insurance services. Insurance agents must have a comprehensive knowledge of insurance types to provide the clients with the best insurance option in the market. The insurance agents should evaluate a client's long-term needs and financial goals to create individual packages as the insurance company allowed. An insurance agent also handles policy renewals and keeps customers' insurance files for reference.
A Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
Insurance agents and finance advisors have different pay scales, as shown below.
| Insurance Agent | Finance Advisor | |
| Average salary | $51,936 | $64,993 |
| Salary range | Between $30,000 And $88,000 | Between $34,000 And $121,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | Hawaii | New York |
| Best paying company | Z Capital Group | Enbridge |
| Best paying industry | Finance | Finance |
There are a few differences between an insurance agent and a finance advisor in terms of educational background:
| Insurance Agent | Finance Advisor | |
| Most common degree | Bachelor's Degree, 53% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between insurance agents' and finance advisors' demographics:
| Insurance Agent | Finance Advisor | |
| Average age | 46 | 45 |
| Gender ratio | Male, 51.6% Female, 48.4% | Male, 72.3% Female, 27.7% |
| Race ratio | Black or African American, 9.3% 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, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 5% |