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The differences between insurance brokers and producers 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 $72,202 average annual salary of a producer.
The top three skills for an insurance broker include customer service, life insurance products and lead generation. The most important skills for a producer are work ethic, video production, and client relationships.
| Insurance Broker | Producer | |
| Yearly salary | $94,006 | $72,202 |
| Hourly rate | $45.20 | $34.71 |
| Growth rate | 6% | 8% |
| Number of jobs | 38,403 | 10,610 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 79% |
| Average age | 46 | 40 |
| Years of experience | - | 12 |
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.
A producer is an individual who is responsible for providing infrastructure, resources, and logistics in making a movie, television show, or stage production. Producers hire production staff such as director, crew, and sometimes actors to coordinate their activities throughout the production process. They support the creative team by conducting meetings to discuss the production's progress and ensure adherence to deadlines. Producers also travel often either to film on location for a movie or to tour with a theatre production.
Insurance brokers and producers have different pay scales, as shown below.
| Insurance Broker | Producer | |
| Average salary | $94,006 | $72,202 |
| Salary range | Between $62,000 And $141,000 | Between $43,000 And $120,000 |
| Highest paying City | Birmingham, AL | San Francisco, CA |
| Highest paying state | Washington | Nevada |
| Best paying company | Liberty Mutual Insurance | Meta |
| Best paying industry | Insurance | - |
There are a few differences between an insurance broker and a producer in terms of educational background:
| Insurance Broker | Producer | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 79% |
| Most common major | Business | Communication |
| Most common college | University of Pennsylvania | Harvard University |
Here are the differences between insurance brokers' and producers' demographics:
| Insurance Broker | Producer | |
| Average age | 46 | 40 |
| Gender ratio | Male, 62.5% Female, 37.5% | Male, 58.2% Female, 41.8% |
| 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, 7.8% Unknown, 5.6% Hispanic or Latino, 14.4% Asian, 6.3% White, 65.7% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 14% |