Insurance broker demographics and statistics in the US
Insurance broker demographics research summary. Zippia estimates insurance broker demographics and statistics in the United States by using a database of 30 million profiles. Our insurance broker estimates are verified against BLS, Census, and current job openings data for accuracy. Zippia's data science team found the following key facts about insurance brokers after extensive research and analysis:
- There are over 162,459 insurance brokers currently employed in the United States.
- 37.5% of all insurance brokers are women, while 62.5% are men.
- The average insurance broker age is 46 years old.
- The most common ethnicity of insurance brokers is White (66.2%), followed by Hispanic or Latino (15.9%), Black or African American (9.3%) and Asian (4.9%).
- Insurance brokers are most in-demand in Atlanta, GA.
- The insurance industry is the highest-paying for insurance brokers.
- 7% of all insurance brokers are LGBT.
On this page
Insurance broker demographics by:
Insurance broker gender statistics
37.5% of insurance brokers are women and 62.5% of insurance brokers are men.
- Male, 62.5%
- Female, 37.5%
Insurance broker gender ratio
| Gender | Percentages |
|---|---|
| Male | 62.5% |
| Female | 37.5% |
Insurance broker gender pay gap
Women earn 92¢ for every $1 earned by men
Male income
$94,916
Female income
$87,582
Insurance broker gender ratio over time
This data breaks down the percentage of men and women in insurance broker positions over time. Currently, 37.5% of insurance brokers are female.
Insurance broker gender ratio by year
| Year | Male | Female |
|---|---|---|
| 2010 | 64.93% | 35.07% |
| 2011 | 65.13% | 34.87% |
| 2012 | 63.23% | 36.77% |
| 2013 | 66.15% | 33.85% |
| 2014 | 63.76% | 36.24% |
| 2015 | 65.19% | 34.81% |
| 2016 | 64.42% | 35.58% |
| 2017 | 64.45% | 35.55% |
| 2018 | 64.04% | 35.96% |
| 2019 | 62.40% | 37.60% |
| 2020 | 61.15% | 38.85% |
| 2021 | 62.50% | 37.50% |
Insurance broker related jobs gender ratio
We compared insurance brokers with similar job titles to see how gender ratios vary. As you can see, proprietary trader and floor trader have the biggest gender ratio gaps.
| Job title | Male | Female |
|---|---|---|
| Insurance Follow Up Representative | 11% | 89% |
| Insurance Verification Specialist | 11% | 89% |
| Commercial Lines Account Manager | 13% | 87% |
| Insurance Broker | 62% | 38% |
| Futures Trader | 94% | 6% |
| Floor Trader | 95% | 5% |
| Proprietary Trader | 96% | 4% |
Male
Female
100%
75%
50%
25%
0%
0%
25%
50%
75%
100%
Insurance broker demographics by race
The most common ethnicity among insurance brokers is White, which makes up 66.2% of all insurance brokers. Comparatively, 15.9% of insurance brokers are Hispanic or Latino and 9.3% of insurance brokers are Black or African American.
- White, 66.2%
- Hispanic or Latino, 15.9%
- Black or African American, 9.3%
- Asian, 4.9%
- Unknown, 3.6%
- American Indian and Alaska Native, 0.1%
Insurance broker race
| Insurance broker race | Percentages |
|---|---|
| White | 66.2% |
| Hispanic or Latino | 15.9% |
| Black or African American | 9.3% |
| Asian | 4.9% |
| Unknown | 3.6% |
| American Indian and Alaska Native | 0.1% |
Insurance broker race and ethnicity over time
See how insurance broker racial and ethnic diversity trended since 2010 according to the United States Census Bureau data.
Insurance broker race and ethnicity by year
| Year | White | Black or African American | Asian | Hispanic or Latino |
|---|---|---|---|---|
| 2010 | 74.66% | 7.91% | 3.82% | 12.40% |
| 2011 | 74.22% | 7.90% | 3.94% | 12.68% |
| 2012 | 73.32% | 8.29% | 4.07% | 12.66% |
| 2013 | 72.44% | 8.91% | 4.17% | 12.80% |
| 2014 | 71.87% | 8.51% | 4.19% | 13.80% |
| 2015 | 70.20% | 9.32% | 4.02% | 14.65% |
| 2016 | 71.16% | 8.93% | 4.06% | 13.78% |
| 2017 | 69.84% | 9.20% | 4.63% | 14.41% |
| 2018 | 70.72% | 7.95% | 4.53% | 14.93% |
| 2019 | 69.39% | 8.62% | 4.33% | 15.93% |
| 2020 | 67.64% | 7.72% | 4.96% | 15.65% |
| 2021 | 66.20% | 9.31% | 4.88% | 15.91% |
Insurance broker wage gap by race
According to our data, white insurance brokers have the highest average salary compared to other ethnicities. Black or african american insurance brokers have the lowest average salary at $89,755.
| Ethnicity | Salary |
|---|---|
| Unknown | $95,575 |
| White | $99,545 |
| Black or African American | $89,755 |
| Asian | $96,254 |
| Hispanic or Latino | $93,723 |
Average insurance broker age
See how the average age of insurance brokers varies based on ethnicity and gender.
Male
Female
Insurance broker age by race and gender
| Race | Male age | Female age |
|---|---|---|
| Unknown | 44 | 42 |
| White | 47 | 49 |
| Black or African American | 46 | 46.5 |
| Asian | 46 | 41 |
| Hispanic or Latino | 41 | 39 |
Insurance broker age breakdown
The average age of insurance brokers is 40+ years years old, representing 66% of the insurance broker population.
Insurance broker age breakdown
| Insurance Broker Years | Percentages |
|---|---|
| 40+ years | 66% |
| 30-40 years | 23% |
| 20-30 years | 11% |
Insurance broker educational attainment
The most common degree for insurance brokers is bachelor's degree, with 64% of insurance brokers earning that degree. The second and third most common degree levels are associate degree degree at 15% and associate degree degree at 8%.
- Bachelor's, 64%
- Associate, 15%
- High School Diploma, 8%
- Master's, 7%
- Other Degrees, 6%
Insurance brokers by degree level
| Insurance broker degree | Percentages |
|---|---|
| Bachelor's | 64% |
| Associate | 15% |
| High School Diploma | 8% |
| Master's | 7% |
| Other Degrees | 6% |
Insurance broker jobs you might like
Insurance broker wage gap by degree level
According to the data, insurance brokers with a Bachelor's degree earn more than those without, at $105,769 annually. With a Master's degree, insurance brokers earn a median annual income of $105,560 compared to $99,362 for insurance brokers with an Doctorate degree.
| Education | Salary |
|---|---|
| Master's Degree | $105,560 |
| High School Diploma or Less | $87,554 |
| Bachelor's Degree | $105,769 |
| Doctorate Degree | $99,362 |
| Some College/ Associate Degree | $87,267 |
Insurance broker employment statistics
Most insurance brokers work for a private in the insurance industry.
Company size where insurance brokers work
Below, you can see the size of companies where insurance brokers work.
Insurance broker jobs by employer size
| Company size | Percentages |
|---|---|
| < 50 employees | 9% |
| 50 - 100 employees | 24% |
| 100 - 500 employees | 21% |
| 500 - 1,000 employees | 10% |
| 1,000 - 10,000 employees | 22% |
| > 10,000 employees | 14% |
Insurance broker jobs by company type
Employees with the insurance broker job title have their preferences when it comes to working for a company. For instance, most insurance brokers prefer to work at private companies over public companies.
Insurance broker jobs by sector
| Company type | Percentages |
|---|---|
| Public | 16% |
| Private | 82% |
| Government | 2% |
Insurance broker jobs by industry
The most common industries for insurance brokers are insurance, finance and professional.
Insurance broker industry statistics
| Industry | Percentages |
|---|---|
| Insurance | 43% |
| Finance | 10% |
| Fortune 500 | 10% |
| Professional | 6% |
| Health Care | 5% |
| Retail | 4% |
| Media | 3% |
| Technology | 3% |
| Government | 2% |
| Construction | 2% |
| Manufacturing | 2% |
| Start-up | 2% |
| Transportation | 1% |
| Telecommunication | 1% |
| Utilities | 1% |
| Real Estate | 1% |
| Agriculture | 1% |
Insurance broker turnover and employment statistics
Insurance broker unemployment rate over time
The unemployment rate for insurance brokers between 2008 and the most recent data has varied, according to the Bureau of Labor Statistics.
Insurance broker unemployment rate by year
| Year | Insurance broker unemployment rate |
|---|---|
| 2010 | 5.09% |
| 2011 | 4.31% |
| 2012 | 4.18% |
| 2013 | 3.95% |
| 2014 | 3.23% |
| 2015 | 2.63% |
| 2016 | 2.47% |
| 2017 | 2.35% |
| 2018 | 1.88% |
| 2019 | 2.06% |
| 2020 | 3.05% |
| 2021 | 3.58% |
Average insurance broker tenure
The average insurance broker stays at their job for 1-2 years, based on the 4,456 insurance brokers resumes in Zippia's database.
Insurance broker tenure statistics
| Number of years | Percentages |
|---|---|
| Less than 1 year | 15% |
| 1-2 years | 27% |
| 3-4 years | 14% |
| 5-7 years | 19% |
| 8-10 years | 9% |
| 11+ years | 17% |
Insurance broker LGBT ratio compared to similar jobs
Review the percent of insurance brokers that are members of the LGBT community. You can see how this compares to similar jobs in the chart below.
| Job title | LGBT | Job openings |
|---|---|---|
| Electricity Trading Analyst | 5.13% | 17,735 |
| Grain Trader | 5.67% | 1,017 |
| Insurance Broker | 6.79% | - |
| Inside Sales Advertising Executive | 9.53% | 79,733 |
| Commissary Agent | 17.39% | 26,445 |
Similar insurance broker jobs LGBT demographics
| Profession | Percentages of LGBT | Job openings |
|---|---|---|
| Electricity Trading Analyst | 5.13% | 17,735 |
| Grain Trader | 5.67% | 1,017 |
| Inside Sales Advertising Executive | 9.53% | 79,733 |
| Commissary Agent | 17.39% | 26,445 |
Foreign languages spoken by insurance brokers
The most common foreign language among insurance brokers is Spanish at 57.9%. The second-most popular foreign language spoken is French at 8.6% and German is the third-most popular at 5.6%.
- Spanish, 57.9%
- French, 8.6%
- German, 5.6%
- Portuguese, 4.3%
- Russian, 2.6%
- Other, 21.0%
Insurance broker languages spoken
| Foreign language | Percentages |
|---|---|
| Spanish | 57.9% |
| French | 8.6% |
| German | 5.6% |
| Portuguese | 4.3% |
| Russian | 2.6% |
| Other | 21.0% |
