State Farm Insurance Agent Pay
State Farm agents sell various types of insurance to individuals including home, property, life, car, and health and disability insurance. They are responsible for meeting the insurance needs of the clients.
Salary
How much do you make as a State Farm agent?
As of March 26, 2022, State Farm Agent Team Members in the United States make an average hourly pay of $15.52, with hourly wages ranging between $11.30 and $21.88.
How much does a State Farm agent make per year?
On average, a State FARM Agent in your area earns $35,563 annually, which is $1,954 less than the previous year.
How much do State Farm Insurance Agents make?
State Farm Insurance Agents' earnings are determined by individual agreements with their agency, but typically agents earn between 40%-90% of an annual premium during their first year of sales. In addition, many agents receive bonuses of up to $5,000 annually.
Is being a State Farm agent a good job?
According to employee ratings, Administrative Assistants and Insurance Sales Agents have reported high levels of job satisfaction working at State Farm Insurance. The company's long-standing reputation and dedication to clients may add to the positive experiences of their employees.
Commission
How much commission does a State Farm agent make?
State Farm insurance agents can earn a commission ranging from 40% to 90% on full premium sales in the first year. The percentage of commission in subsequent years is variable based on individual agreements made with State Farm. The information provided does not indicate specific earnings of State Farm producers.
How much Commission does a state farm sub agent get?
According to a personal account from someone familiar with the industry, a sub agent working for State Farm received less than 15% of the total commission paid out from a policy. While this number may be surprising given the higher percentages offered by other companies, the advantages of being a State Farm agent are not clarified in this excerpt. It is important to note that State Farm is generally considered a reputable company in the insurance industry.
Bonuses
How much does a insurance agent at State Farm make?
An insurance agent at State Farm has a median estimated total pay of $84,933 per year, as based on the range gathered from our users through the Total Pay Estimate model. The estimated base pay accounts for $56,241 per year, and an additional $13,157 is identified as the estimated supplemental pay.
Who are State Farm ® agents?
State Farm® agents are independent contractors who are responsible for hiring their own employees. The employees working for these agents are not considered employees of State Farm. Additionally, agents make all of the employment decisions regarding their employees, including compensation, costs, and development.
Is state Farm a good job?
State Farm can be a profitable and lucrative job for those interested in helping people get insurance. The salary for State Farm agents is above average and comes with fantastic benefits, making it a good opportunity for those with the skills to become a successful insurance agency.
Is state Farm an equal opportunity employer?
State Farm is an equal opportunity employer, according to the information provided. However, it's important to note that State Farm agents hire their own employees and are responsible for all employment decisions regarding their staff. State Farm agents' employees are not employees of State Farm. If interested, individuals can become agents with State Farm and learn about the costs, compensation, and development opportunities available.
Training Programs
What is it like to intern at State Farm Insurance?
Interning at State Farm Insurance involves receiving a salary during training in order to become an agent, which is rare in the insurance industry. The company is willing to invest in their interns by providing very good training during this time. It is important to not let the salary during training be the only factor when considering interning at State Farm.
How much do State Farm agents make?
State Farm agents have an average annual salary of $34,646, which could increase as they progress in their career up to $127,000. In addition to a potentially high salary, State Farm agents also receive a range of benefits from the company.
What is it like to work at State Farm?
State Farm provides an understanding of the experience of working as an agent for them. The job involves ensuring customers receive the necessary insurance and developing a team of other agents. The company's culture and work environment are not mentioned in the given data source.
Is state Farm a good insurance company?
State Farm is considered a solid, stable and conservative insurance company that is investing in their employees. They are unique in the insurance industry by paying their interns who are training to become agents, and provide excellent training during that time.
Work Hours
How do I prepare for a career at State Farm?
A formal and expert tone summary of the information given in [textprompt] would be: Sharpen your skills with State Farm's training and gain hands-on field development experience with an agent. Although you may be the one with the sign, mentors and State Farm staff are available to offer consultation throughout your career. Explore the earning costs, compensation, and development opportunities to succeed at State Farm.
Client Base
What is a State Farm Payment plan?
State Farm Payment Plan offers various payment options such as monthly payments, automatic payments, and paperless payments. The plan can be accessed through the mobile app which is free for iOS and Android users. The payment options are designed to make bill paying easy and convenient. Customers can choose the method that suits them best and visit or call their State Farm agent to pay their bills.
What is State Farm Insurance?
State Farm is a group of insurance and financial services firms located throughout the United States. The company's primary focus is State Farm Mutual Automobile Insurance Company, which is a mutual insurance business that owns the other companies under the State Farm umbrella. The company's corporate headquarters can be found in Bloomington, Illinois.
Work Environment
How much does a agent at State Farm make?
An agent at State Farm receives a median annual pay of $77,289, which is based on salaries collected from users and represents the midpoint of the ranges from the Total Pay Estimate model. The estimated base pay amounts to $52,076 per year, while the estimated additional pay is $12,405 per year.
Where are State Farm Insurance Agents located?
State Farm Insurance Agents are located throughout the United States, with corporate headquarters in Bloomington, Illinois. There is no information provided about specific locations of State Farm Insurance Agents.
Job Security
What do State Farm agents do?
State Farm agents sell various types of insurance to individuals including home, property, life, car, and health and disability insurance. They are responsible for meeting the insurance needs of the clients.
