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State Farm Agent Salary During Training

Based on salaries collected from Glassdoor users, the median estimated total pay for a Insurance Agent at State Farm is $84,933 per year. This includes an estimated base pay of $56,241 per year and an estimated additional pay of $13,157 per year.

Average starting salary

How much do you make as a State Farm agent?

As of Mar 26, 2022, the average hourly pay for a State Farm Agent Team Member in the United States stands at $15.52 an hour. While the hourly wages for State Farm Agent Team Members can range between $11.30 and $21.88, the majority of them earn between $13.22 (25th percentile) and $17.31 (75th percentile) an hour.

How much does the average State Farm agent make?

The average total pay for a State Farm Agent, including bonuses and additional compensation, is $54,240 per year.

How much do State Farm Insurance Agents make?

State Farm Insurance Agents can earn between 40%-90% of an annual premium for the first year of sales, and most agents also receive bonuses up to $5,000 annually. However, the commission earned may vary depending on the individual agreement between the agent and their State Farm agency.

How many employees does State Farm have?

State Farm has a considerable number of employees, totaling 70,000, in addition to having 19,000 agents. Despite not having physical branch offices, it offers banking services accessible nationwide through various channels such as the Internet, phone, and agents.

Commission structure

How much does a agent at State Farm make?

State Farm agents' estimated total pay per year is $77,289, with an estimated base pay of $52,076 per year and estimated additional pay of $12,405 per year. This information was collected from salaries of State Farm employees and represents the median value.

How much commission does a State Farm agent make?

State Farm agents receive a commission cut of 40% to 90% on the full premium of their sales in the first year. The commission rate in the following years is determined by the agreement with State Farm. Information regarding the exact amount earned by State Farm agents is not provided in the given text.

How much Commission does a state farm sub agent get?

According to a friend who was a sub agent at State Farm, the commission paid out from a policy was less than 15%, which is lower than the industry standard range of 65% to 90%. The advantages of becoming a State Farm agent over other insurance companies are not mentioned, but it is stated that State Farm is a good company.

How bad is State Farm's new agent contract?

According to a source, State Farm's new agent contract is not favorable, and over the years they have reduced agent commissions from 15% to 7%. It is advised to be cautious with bonus promises made by State Farm, as they may not result in increased earnings.

Hours worked

How much do State Farm agents make?

State Farm agents earn an average annual salary of $34,646 according to PayScale. Their earnings can increase as they progress in their career, with the potential to earn up to $127,000. State Farm also provides its agents with excellent benefits.

What is it like to work at State Farm?

State Farm offers insights into working as an agent, from starting in an entry-level position to running a team of agents. It is emphasized that ensuring customer insurance needs are met is important, but the job goes deeper than that. No information is provided about the company culture or work environment.

Training program duration

What is the State Farm agent intern program?

The State Farm agent intern program offers selected candidates the opportunity to receive product and leadership training, as well as a field development experience with an established agent. Agents operate as independent contractors, and compensation is based solely on sales and commission. This opportunity does not provide any base salary.

Bonus opportunities

How much does a bonus pay at State Farm Insurance Company?

The bonus pay at State Farm Insurance Company ranges from $600 to $15,000 annually, according to reports from 495 individuals.

How much do State Farm Insurance Company employees make?

State Farm Insurance Company pays its employees an average of $52,179 per year, with salaries ranging from $27,799 to $99,559 annually. The job title with the highest salary is Claims Manager, Insurance.

Job duties and responsibilities

How much does a agent team member make in State Farm Insurance?

The average base salary for an Agent Team Member in companies like State Farm Insurance in the United States ranges from $48,909 to $60,409, with an average base salary of $53,552. Additionally, the charts include the average total cash compensation for this position.

What does a customer service representative do at State Farm?

A customer service representative at State Farm works closely with an agent to achieve marketing goals. Specifically, as a team member of Reilly Chunn - State Farm Agent, they are responsible for customer building and development.

Continuing education requirements

How many hours of continuing education do insurance agents need?

In the District of Columbia, insurance agents are required to complete 24 hours of continuing education every two years. Three of these hours must be dedicated to ethics training. It is important for insurance agents to complete these requirements in order to maintain their license and stay informed on updates in their field.

Insurance company expectations

How much does a insurance agent at State Farm make?

Based on salaries collected from Glassdoor users, the median estimated total pay for a Insurance Agent at State Farm is $84,933 per year. This includes an estimated base pay of $56,241 per year and an estimated additional pay of $13,157 per year.

What is it like to intern at State Farm Insurance?

When interning at State Farm Insurance, the company offers a unique opportunity by providing a salary during training, which is not typically seen in the insurance industry. Despite this perk, one should not solely consider the salary when deciding to intern with State Farm as the company undoubtedly provides excellent training for prospective agents.

Is state Farm a good insurance company?

State Farm is a solid and stable insurance company, as stated in the text. The company is willing to invest in their employees and provide salaries for interns in training to become agents, which is uncommon in the industry. Additionally, State Farm provides thorough training during this time. No negative or biased statements are made in the text.

Who are State Farm ® agents?

State Farm ® agents are independent contractors who hire their own employees. Agents are responsible for and make all employment decisions regarding their employees. State Farm agents' employees are not employees of State Farm.

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