Alyssa Lane
Combined Insurance is a leading supplemental insurance company with operations in 54 countries. They offer disability, accident, health, and life insurance to individuals and corporate accounts. The average annual income for a Combined Insurance agent was $55,846 in 2022, according to the job website Indeed. However, salaries can vary depending on factors such as location, experience, and specific skills. For example, Combined Insurance agents in New York City earned an average of $82,752 per year, while those in Chicago made an average of $56,677. The company offers competitive compensation and benefits, with some employees reporting modest incomes and others noting that they never received pay raises. Overall, Combined Insurance provides a range of salaries and benefits that cater to a diverse range of roles and employee needs.
| Characteristics | Values |
|---|---|
| Average Annual Income | $55,846 (as of 2022) |
| Average Salary Range | $46,000–$79,000 per year |
| Average Salary | $60,000 per year |
| Average Hourly Pay | $54 per hour |
| Average Annual Salary | $111,727 |
| Salary Range | $97,533 to $134,025 |
| Highest Salary | $268,607 per year (Vice President of Operations) |
| Lowest Salary | $40,671 per year (Call Center Representative) |
| Overtime Pay | No overtime pay |
| Pay Raises | Uncommon |
| Paid Vacation Days | No paid vacation days |
| Paid Sick Days | Unclear |
| Above-Average Compensation | Yes |
| Job Outlook | Expected to increase by 7% in the next decade |
Explore related products
What You'll Learn
Average salaries for Combined Insurance agents
The average salary for a Combined Insurance agent varies depending on several factors, including location, experience, and specific job roles.
Location
Indeed reported that in 2022, the average incomes for Combined Insurance agents varied across different US regions. Agents in New York City earned the highest average income of $82,752 per year, while agents in Chicago and Atlanta earned $56,677 and $52,602, respectively. Incomes tend to be higher in states with major cities, such as New York, due to the larger population and higher sales potential.
Experience
Experience is a significant factor influencing the income of Combined Insurance agents. More experienced agents have likely built a solid client base over time, resulting in repeat business and increased earnings.
Job Roles
The average annual salary for a Licensed Insurance Agent at Combined Insurance Company of America was reported to be $111,727 as of December 2024, translating to approximately $54 per hour. The salary range for this role was between $97,533 and $134,025.
Glassdoor reported that the average sales agent base salary at Combined Insurance is $60,000 per year, with an estimated total pay range of $46,000 to $79,000, including base salary and additional pay.
According to Comparably, the average estimated annual salary at Combined Insurance, including base and bonus, is $115,579, while the estimated median salary is $109,955. The highest-paying job is the Director of Engineering, with a salary of $208,809, while the lowest is an Admin Assistant, earning $48,575 annually.
Indeed reported that the average Combined Insurance salary ranges from approximately $20,000 per year for a Sales Manager to $145,000 per year for a Director of Quality.
Combined Insurance agents can expect above-average compensation compared to other careers with similar education requirements. While the specific benefits and vacation policies vary, the company is known to offer trips and bonuses to its employees.
Insurance and DMV: Lapse in Communication
You may want to see also
Explore related products
Salaries by US region
Salaries for Combined Insurance agents vary across different US regions. As of 2022, the average annual income for Combined Insurance agents was $55,846, according to the job website Indeed. However, salaries can vary based on geographic location, with higher incomes in states like New York, which have more major cities. For instance, Combined Insurance agents in New York City averaged $82,752 per year.
According to Salary.com, the average annual salary for a Licensed Insurance Agent at Combined Insurance Company of America was $111,727 as of December 2024, ranging from $97,533 to $134,025. Comparably reports a slightly different figure, with an average estimated annual salary of $115,579, including base and bonus, and an estimated median salary of $109,955.
At Combined Insurance, the highest-paid positions tend to be in senior management or executive roles. For example, the Senior Account Executive role has an annual salary of $148,000, while the Director of Engineering earns $208,809. In contrast, the lowest-paying jobs are typically in administrative or support functions, such as the Admin Assistant role, which has an annual salary of $48,575.
It's worth noting that Combined Insurance employees earn an average of $40,000 annually, or $19 per hour, according to CareerBliss. This figure is significantly lower than the national salary average of $66,000 per year. However, it's important to consider the range of factors that influence salaries, such as years of experience, specific skill sets, educational background, and relevant certifications.
Navigating Recession: Strategies for Independent Insurance Agents
You may want to see also
Explore related products
Salaries by department
Salaries at Combined Insurance vary by department and job title. The average estimated annual salary across the company is $115,579, or $55 per hour, while the estimated median salary is $109,955, or $52 per hour. The highest-paid role at Combined Insurance is the Director of Engineering, who earns $208,809 annually, while the lowest is an Admin Assistant, who earns $48,575 per year.
- Product Department: $178,644 (avg. total comp.)
- Engineering Department: $132,199 (avg. total comp.)
- Marketing Department: $127,437 (avg. total comp.)
- Design Department: $97,560 (avg. total comp.)
- Operations Department: $72,979 to $268,607 (Vice President of Operations) (avg. total comp.)
- Admin Department: $48,575 to $72,473 (avg. total comp.)
- Business Development Department: $58,769 (district manager) to $102,340 (avg. total comp.)
- Finance Department: $74,698 (avg. total comp.)
- Customer Support Department: $20 per hour (Customer Service Representative) to $61,718 (avg. total comp.)
- HR Department: $108,969 (avg. total comp.)
- IT Department: $67,395 (avg. total comp.)
- Legal Department: $150,242 (avg. total comp.)
It is worth noting that salaries can vary significantly within departments based on factors such as geographic location, experience, performance, certifications, skills, and education. For example, the average annual salary for a Licensed Insurance Agent can range from $97,533 to $134,025. Similarly, the average Sales Agent salary is estimated to be $170,055 per year, but some professionals have reported earning up to $302,209 annually.
Call Insurance: Repair Costs Covered?
You may want to see also
Explore related products
Bonuses and overtime
Bonuses are a common part of the compensation package for insurance agents. Combined Insurance, in particular, offers a full benefits package, 401k employer match, and bonus pay. Entry-level insurance sales agents can earn up to an additional $5,000 in bonuses on top of commissions during their first four months. Combined Insurance also offers lucrative bonus opportunities, including performance-based bonuses and sales competitions.
The base salary for insurance agents at Combined Insurance varies depending on the source. According to Glassdoor, the average base salary for a sales agent is $60,000 per year, with a total pay range of $46,000–$79,000 per year, including base salary and additional pay. Salary.com reports a higher average annual salary of $111,727, with a range of $97,533 to $134,025. Indeed.com places the average annual income for Combined Insurance agents at $55,846 as of 2022. However, salaries can vary based on geographic location, with insurance agents in larger cities earning higher incomes due to a larger customer base. For example, insurance agents in New York City averaged $82,752 per year, while agents in Chicago earned an average of $56,677 per year, and agents in Atlanta, Georgia averaged $52,602 per year.
In terms of overtime, a survey of current and former employees of Combined Insurance revealed that 80% said there was no overtime pay. This suggests that overtime is not a common part of the compensation package for insurance agents at Combined Insurance.
Aetna Supplemental Insurance: How Do the Ratings Look?
You may want to see also
Explore related products
Paid time off
While there is no information on the number of paid time off days that Combined Insurance agents get, there are some insights into the company's paid time off, parental leave, and work-life balance.
According to one source, Combined Insurance employees receive no paid vacation days or paid personal days. However, 25% of respondents said it was easy to request paid time off. Another source mentions that Combined Insurance offers flexible working hours, location variety, and the option to work mostly remotely.
While specific details on paid time off days are unavailable, it is worth noting that Combined Insurance agents' salaries vary based on location and experience. For example, agents in New York City earn higher incomes due to the higher number of potential customers in metropolitan areas. Additionally, experience plays a significant factor in an agent's income, as building a client base over time results in increased earnings.
The average annual income for Combined Insurance agents in 2022 was $55,846, but this varied across different US regions. In New York City, the average was $82,752, while agents in Chicago earned an average of $56,677, and those in Atlanta, Georgia, averaged $52,602.
Combined Insurance offers opportunities for career advancement, with some agents moving into supervisory positions that offer higher earning potential. The company also provides trips and bonuses, and employees have praised the training and compensation. However, some have mentioned issues with upper management and reimbursement for miles.
Insurers' Influence: Regulating Public Police and Privacy
You may want to see also
Frequently asked questions
As of 2022, the average annual income for a Combined Insurance agent was $55,846. This figure can vary depending on the region, with agents in New York City earning an average of $82,752 per year, while those in Chicago earned around $56,677.
The salary of a Combined Insurance agent can vary depending on several factors, including experience, location, department, and individual qualifications. The pay range within the company reflects the diverse roles, with some positions offering higher compensation than others.
Combined Insurance offers a range of benefits and compensation packages to its employees. While some employees have reported receiving no paid vacation days, the company provides parental leave, work-life balance, and modest income-earning opportunities through trips and bonuses.
