Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between insurance brokers and agency managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance broker has an average salary of $94,006, which is higher than the $55,080 average annual salary of an agency manager.
The top three skills for an insurance broker include customer service, life insurance products and lead generation. The most important skills for an agency manager are insurance products, training programs, and lead generation.
| Insurance Broker | Agency Manager | |
| Yearly salary | $94,006 | $55,080 |
| Hourly rate | $45.20 | $26.48 |
| Growth rate | 6% | 6% |
| Number of jobs | 38,403 | 91,702 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 65% |
| Average age | 46 | 47 |
| Years of experience | - | - |
Insurance brokers are responsible for assisting clients to determine their liability risks and in selecting the appropriate policies for their family, home, business, or automobile to ensure their protection. They direct clients in creating a sound decision and supply them with a variety of quotes that best suit their needs. Their duties include demonstrating the benefits, terms, conditions, and suspension for a number of participating insurance policies. Also, they may negotiate lesser rates for their clients and continue in guiding these clients in technical issues like filing a claim or changing their insurance coverage.
An agency manager works alongside a recruitment team to find new applicants for a company's vacancies. Agency managers typically work in companies that have both a high number of employees and a regular recruitment schedule. Creative industries, especially in film and TV productions, commonly have agency managers. An agency manager works as part of a human resource team to bring in talent that will be beneficial to a company. A keen understanding of human behavior and strong communication skills are both necessary for this position. A psychology degree could also be beneficial.
Insurance brokers and agency managers have different pay scales, as shown below.
| Insurance Broker | Agency Manager | |
| Average salary | $94,006 | $55,080 |
| Salary range | Between $62,000 And $141,000 | Between $28,000 And $106,000 |
| Highest paying City | Birmingham, AL | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | Liberty Mutual Insurance | Cadence Design Systems |
| Best paying industry | Insurance | - |
There are a few differences between an insurance broker and an agency manager in terms of educational background:
| Insurance Broker | Agency Manager | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance brokers' and agency managers' demographics:
| Insurance Broker | Agency Manager | |
| Average age | 46 | 47 |
| Gender ratio | Male, 62.5% Female, 37.5% | Male, 59.0% Female, 41.0% |
| Race ratio | Black or African American, 9.3% Unknown, 3.6% Hispanic or Latino, 15.9% Asian, 4.9% White, 66.2% American Indian and Alaska Native, 0.1% | Black or African American, 7.6% Unknown, 4.7% Hispanic or Latino, 12.8% Asian, 9.0% White, 65.2% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 7% | 10% |