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The differences between insurance brokers and sales 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 $51,287 average annual salary of a sales producer.
The top three skills for an insurance broker include customer service, life insurance products and lead generation. The most important skills for a sales producer are insurance products, strong work ethic, and business relationships.
| Insurance Broker | Sales Producer | |
| Yearly salary | $94,006 | $51,287 |
| Hourly rate | $45.20 | $24.66 |
| Growth rate | 6% | 6% |
| Number of jobs | 38,403 | 41,951 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 60% |
| Average age | 46 | 46 |
| 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.
A sales producer is responsible for performing sales calls and administering all leads. You will be responsible for preparing the policies aimed at sales procedures and developing the necessary sales documents. Other responsibilities include making sure that all sales personnel adhere to all policies and procedures, coordinating with customers about policy expiration dates, and maintaining strong and long-lasting relationships with customers. As a sales producer, you will be responsible for managing prospective sale campaigns and managing all correspondence with both prospective and existing clients.
Insurance brokers and sales producers have different pay scales, as shown below.
| Insurance Broker | Sales Producer | |
| Average salary | $94,006 | $51,287 |
| Salary range | Between $62,000 And $141,000 | Between $24,000 And $107,000 |
| Highest paying City | Birmingham, AL | Arlington, MA |
| Highest paying state | Washington | Massachusetts |
| Best paying company | Liberty Mutual Insurance | Cochrane & Company |
| Best paying industry | Insurance | - |
There are a few differences between an insurance broker and a sales producer in terms of educational background:
| Insurance Broker | Sales Producer | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between insurance brokers' and sales producers' demographics:
| Insurance Broker | Sales Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 62.5% Female, 37.5% | Male, 53.2% Female, 46.8% |
| 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, 9.5% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |