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The differences between licensed insurance producers and sales producers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a licensed insurance producer has an average salary of $66,026, which is higher than the $51,287 average annual salary of a sales producer.
The top three skills for a licensed insurance producer include work ethic, lead generation and annuities. The most important skills for a sales producer are insurance products, strong work ethic, and business relationships.
| Licensed Insurance Producer | Sales Producer | |
| Yearly salary | $66,026 | $51,287 |
| Hourly rate | $31.74 | $24.66 |
| Growth rate | 6% | 6% |
| Number of jobs | 54,872 | 41,951 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 60% |
| Average age | 46 | 46 |
| Years of experience | - | - |
An Insurance producer, also called an insurance agent that promotes and sells insurance benefits and packages to clients. This includes life insurance, property, and health insurance that is offered by not only one company. They are responsible for promoting customer service and creates a good relationship between the company and the insurer. They also serve as a point of a contract if there are insurers that need someone who can assist them with what particular package they can get.
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.
Licensed insurance producers and sales producers have different pay scales, as shown below.
| Licensed Insurance Producer | Sales Producer | |
| Average salary | $66,026 | $51,287 |
| Salary range | Between $44,000 And $97,000 | Between $24,000 And $107,000 |
| Highest paying City | Washington, DC | Arlington, MA |
| Highest paying state | Washington | Massachusetts |
| Best paying company | Berkshire Hathaway | Cochrane & Company |
| Best paying industry | Finance | - |
There are a few differences between a licensed insurance producer and a sales producer in terms of educational background:
| Licensed Insurance Producer | Sales Producer | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between licensed insurance producers' and sales producers' demographics:
| Licensed Insurance Producer | Sales Producer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 39.2% Female, 60.8% | Male, 53.2% Female, 46.8% |
| Race ratio | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.9% 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% |