2024 Study explores the prevalent compensation
trends pertaining to insurance agents and brokers
WOODMERE, Ohio, May 13, 2024
/PRNewswire/ -- MarshBerry, a global M&A advisory firm, serving
the insurance brokerage and wealth management industries, has
released its 2024 Insurance Agency & Brokerage Compensation
Review.
MarshBerry has collected compensation data for this proprietary
report for more than a decade, which provides in-depth insights
into the compensation landscape along with unparalleled
understanding and knowledge of remuneration structures.
According to John Wepler,
MarshBerry Chairman & CEO, "Producer compensation and
productivity are some of the most significant levers within an
organization's growth strategy. This study provides leading
indicator data to help firms hone their compensation plans to
accelerate growth. MarshBerry has gathered data in this area for
more than ten years, which ensures the trends and perspectives
reflect the expertise and opportunities to help brokerages
differentiate themselves and stay relevant in this dynamic
industry."
The 2024 report contains data from 302 U.S. insurance agencies
and brokers that participated in the Study with the average (mean)
revenue size of firms in the dataset being $28 million. This one-of-a-kind industry report
offers a comprehensive look at current compensation data for 31
roles commonly found across insurance agents and brokers. The
report highlights the salary plus bonus compensation by role on a
national basis, as well as the median salary bonus by region for
the following:
- Executive & Management
- Production
- Service
- Support
- Employee Benefits
The report is available for purchase for $1,500. New for 2024 is an Excel spreadsheet that
summarizes the information from the PDF report into easy-to-read
tables. The Excel file, along with the report, can be purchased for
$2,500. No specific company
information is published or identified in the report or the Excel
data.
If you have questions about how MarshBerry helps firms create
their path forward, in the U.S. or across Europe, please contact us today.
MarshBerry – Helping Clients Learn, Improve & Realize
Value
Founded in 1981, MarshBerry is a global leader in
financial advisory and consulting services serving the insurance
brokerage and wealth management industries to help clients grow and
advance their business strategies. With locations across
North America and Europe, MarshBerry market sector expertise
includes property and casualty agents & brokers, employee
benefit firms and specialty distributors, partners in insurtech,
capital markets, and insurance carriers, as well as registered
investment advisors, retirement planning and life insurance firms.
Clients choose MarshBerry as their trusted advisor for every stage
of ownership to help them build, enhance and sustain value through
Financial Advisory solutions (Investment Banking; Merger &
Acquisition Advisory, Debt & Capital Raising, Business
Consulting), Growth Advisory solutions (Organic Growth,
Aggregation, Leadership, Sales & Talent Solutions) and Market
Intelligence and Performance Benchmarking. Learn more at
www.MarshBerry.com.
Contact:
Lauren Byers, Senior Vice President
– Marketing
Phone: + 1 440.392.6546
Email: Lauren.Byers@MarshBerry.com
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SOURCE MarshBerry