re: How much do insurance agents make?

quote:

---

Health is around 10/10.

---

Is this a fact? I've been reading up on it lately and have seen numbers closer to 4-5%. (Assuming I am reading that right 10% new policy and 10% for renewals)

quote:

---

Worker's comp?

---

I believe this is 10% or so

quote:

---

Not at all, your math is dogshit

---

quote:

---

They make about 10-12% of their book. So an agent that has a book worth 5 million in premium is making about 500-520K.

A good independent insurance agent who treats his customers well can make a killing.

---

This - independent agents make bank. Plus they get all the perks of different insurance carriers trying to "convince them" to sell more policies for them than the competition.

So if a group is 50 people and premium (employer + employee cost) is $500/mo/emp on avg this means at 4% the agent is pocketing $12,000? Got damn!

quote:

---

No one is getting 10% on health any longer. 4% is what I see most often. It's still a lot of money though on a decent size case.

---

Is this because of the ACA mandate that forces the health insurance companies to spend a certain % on actual health care?

quote:

---

Agh yes plant operators making that 100k plus a year and working 70 hrs a week.

---

Ours make $40.00 an hour so lets do the math.

40 X 2080 = $83,200 per year at 40 hours a week.

16,800 more needed to hit the golden 100,000 per year all you guys think is so hard to believe they make. so lets figure it out.

16,800/60.00 (OT rate) = 280 hours OT so that equals 280hours/52 weeks = 5.3 hours OT a week to make $100K

So theory that it takes 70 hours a week to make 100K is false. IT only takes 45.3 hours a week to make that here.

Now lets do the 70 hours a week theory
30 hours a week X 52 weeks = 1560 hours OT per year = $93,600 + $83,200 regular salary = $176,800 per year. So there it is guys. Also keep in mind our guys get double time on seventh day worked that I left out of that math. Say all you want and joke all you want but there are the numbers.

quote:

---

Agh yes plant operators making that 100k plus a year and working 70 hrs a week. That's a really bad misconception. I think most of the people that spout stuff off like this have no clue what the Ops profession payout, OT structure is like. Just to use an example, if top out pay is $41 an hour and you only work the scheduled OT and no more, here is the pay: $41 x 36 hrs (week 1): $1476 $41 x 40 hrs + $61.50 x 8 hrs OT (week 2): $2132 So, lets say there's 52 weeks in a year. 26 weeks x $1476 = $38,376 26 weeks x $2132 = $55,432 So, $93,808 per year Now, that $93,808 doesn't include any yearly bonuses, etc. that the plant/company doles out throughout the year. So, making roughly $94K with only 8 hours OT every other week isn't bad. There's a reason why the technical colleges in Louisiana and along the Gulf Coast have high attendance, especially the Process Technology programs. There's also a reason why there are a lot of highly educated (Bachelor's and Masters) people working as plant operators. The pay and benefits are hard to beat. Sorry, for hijacking the thread. Back to your regularly scheduled program.

---

Ha I just did the math on our guys pay scale too. Similar results. However, i'm salaried so it does not apply to me unfortunately.

Back to the original topic folks. I know this issue causes severe butthurt to the college grad kids that spent 100K on a college diploma to make $40K a year. Carry on.

quote:

---

Nope. We just get a kick on how it ruffles your feathers

---

You're the only one with ruffled feathers, but congrats I guess.

quote:

---

You're the only one with ruffled feathers

---

not true...apparently I ruffled 18 others feathers last time I checked..

I underwrite commercial lines for a large carrier.

Agents can make a killing. BUT not state farm or geico. Real insurance.

That said, it's a hard hard fricking grind in the beginning unless you are just given a book by daddie. You have to have the personality of a born hustler. If you lack the charm or confidence GTFO. 90% of guys who try either fail completely or make jack shite. But the real grinders, hell yeah - they assemble a bigass book, make $350 a year and have their account managers and CSRs do all the maintenance work while they golf. But most people will never, ever assemble that book.