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The differences between licensed sales agents and insurance sales representatives can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance sales representative has an average salary of $61,386, which is higher than the $36,453 average annual salary of a licensed sales agent.
The top three skills for a licensed sales agent include real estate, lead generation and customer service. The most important skills for an insurance sales representative are customer service, excellent time management, and work ethic.
| Licensed Sales Agent | Insurance Sales Representative | |
| Yearly salary | $36,453 | $61,386 |
| Hourly rate | $17.53 | $29.51 |
| Growth rate | 10% | 6% |
| Number of jobs | 63,324 | 201,879 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 59% |
| Average age | 43 | 46 |
| Years of experience | 6 | - |
A sales agent is the one who serves as a seller for the customer. They are the one who fulfills and allows them to choose a product or item that they need. Some of their tasks include offering products, taking orders, and providing services for clients. Also, they keep the required documents to report errors or dissatisfaction. Their skills involve being customer-oriented, good management skills, and can communicate effectively.
An insurance sales representative is primarily responsible for securing insurance sales by reaching out to clients through calls, correspondence, and even appointments. They are also responsible for gathering client information, discussing and recommending suitable terms, and even providing advice to meet their needs, all while building rapport to ensure customer satisfaction. There are also instances where they have to adjust existing terms, assist in filling out applications, and produce progress reports. Furthermore, it is essential to devise strategies to find new sales opportunities, as most insurance sales representatives must reach a particular sales target.
Licensed sales agents and insurance sales representatives have different pay scales, as shown below.
| Licensed Sales Agent | Insurance Sales Representative | |
| Average salary | $36,453 | $61,386 |
| Salary range | Between $25,000 And $51,000 | Between $38,000 And $97,000 |
| Highest paying City | Minnetonka, MN | Washington, DC |
| Highest paying state | New York | New York |
| Best paying company | Oracle | FFL Partners |
| Best paying industry | Finance | Finance |
There are a few differences between a licensed sales agent and an insurance sales representative in terms of educational background:
| Licensed Sales Agent | Insurance Sales Representative | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | Stanford University | University of Pennsylvania |
Here are the differences between licensed sales agents' and insurance sales representatives' demographics:
| Licensed Sales Agent | Insurance Sales Representative | |
| Average age | 43 | 46 |
| Gender ratio | Male, 45.1% Female, 54.9% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 5.9% Unknown, 4.2% Hispanic or Latino, 12.6% Asian, 9.5% White, 67.6% American Indian and Alaska Native, 0.2% | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 7% |