FAQNEWS

How much do state farm agents make

As of November 6, 2023, the average annual pay for a State Farm Agent in the United States is $55,414. This equates to approximately $26.64 per hour. If you prefer a straightforward salary calculation, this figure translates to $642 per week or $2,782 per month.

For State Farm Agent Team Members, the average annual pay as of November 2, 2023, is $33,388. On an hourly basis, this corresponds to $16.05. In weekly terms, it’s about $642, and monthly, it amounts to $2,782.

These figures provide an overview of the compensation structure for State Farm Agents, giving insight into their annual, hourly, weekly, and monthly earnings.

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Salary: State Farm Agent Team Member (Nov, 2023) US – ZipRecruiter

Salary: State Farm Agent (November, 2023) United States

As of November 2, 2023, the average annual salary for a State Farm Agent Team Member in the United States stands at $33,388. On an hourly basis, this equates to $16.05. For those preferring a straightforward salary calculation, this figure corresponds to $642 per week or $2,782 per month.

These salary insights provide a snapshot of the compensation structure for State Farm Agent Team Members as of November 2023.

How much does a insurance agent at State Farm make?

How much do State Farm agents make? | Insurance Business America

The estimated total annual pay for an Insurance Agent at State Farm is $75,033. This figure reflects the median, derived from our proprietary Total Pay Estimate model and sourced from user-reported salaries. The estimated base pay is $55,521 annually, with an additional estimated pay of $19,512 per year.

These estimates offer valuable insights into the compensation structure for Insurance Agents at State Farm, considering both base and additional pay components.

Who are State Farm® agents?

Become an Agent - State Farm®

State Farm® agents function as independent contractors with the autonomy to hire their own employees. It’s important to note that employees working for State Farm agents are not considered employees of State Farm. Agents retain full responsibility for all employment decisions related to their staff. Becoming a State Farm agent means owning and operating your own business, with the support and backing of the strength of State Farm®.

How long does it take to become a State Farm agent?

Becoming a State Farm agent involves completing an internship and committing to one year as an independent professional before achieving full-fledged agent status. During this process, individuals gain the eligibility to sell various insurance packages, including home, auto, and life insurance. This structured pathway ensures a comprehensive preparation period before individuals assume the role of a State Farm agent.

How much money can an agent make?

The earning potential for the owner of the agency, who is the actual agent running the business, can be substantial, especially with additional producers or agents under their management. Typically, the income for the agent who owns the agency falls within the range of $100,000 to $250,000. This range reflects the financial opportunities available to agents at the helm of their own State Farm agency.

How much do most State Farm agents make?

According to ZipRecruiter, State Farm Agent salaries exhibit a diverse range, with highs reaching $100,102 and lows at $26,452. For the majority, salaries fall between $41,500 (25th percentile) and $67,400 (75th percentile). In California, top earners (90th percentile) make an annual income of $89,211. These figures provide a comprehensive overview of the salary distribution for most State Farm agents.

What is the highest paying job at State Farm?

State Farm Careers Salary: Hourly Rate September 2023 USA

Management

  1. Team Leader: $82,132 per year
  2. Director: $146,001 per year
  3. Supervisor: $73,767 per year
  4. Business Development Manager: $67,096 per year
  5. Section Manager: $134,363 per year
  6. Consultant: $31.31 per hour
  7. Communication Specialist: $68,464 per year (5 salaries reported)
  8. IT Manager: $128,608 per year (5 salaries reported)

This list outlines some of the highest-paying management positions at State Farm, providing salary information for each role.

Who is the highest paid insurance agent?

Gideon du Plessis, despite not completing the 10th standard or attending college, has achieved the status of the highest-earning insurance agent globally. His annual commissions amount to an impressive Rs 7 crore (Rs 70 million) and beyond.

How much does a State Farm insurance agent make in Texas?

The estimated total annual pay for an Insurance Sales Agent at State Farm in Texas is $70,024. This figure, representing the median, is derived from our proprietary Total Pay Estimate model and is based on salaries reported by our users. The estimated base pay for this role is $52,749 per year.

Which state pays insurance agents the most?

The best places to be a broker: the cities, states and companies that pay  the most | Insurance Business America

According to the BLS, the top-paying states/cities for insurance sales agents (mean wages) in 2021 were:

  1. District of Columbia: $100,050/year, or $48.10/hour
  2. New York: $93,610/year, or $45.01/hour
  3. Massachusetts: $90,160/year, or $43.34/hour
  4. Georgia: $83,760/year, or $40.27/hour
  5. New Jersey: $81,640/year, $39.25/hour

These figures provide insights into the states where insurance agents earn the highest mean wages.

How much do State Farm insurance agents make in California?

The average yearly pay for a State Farm Mutual Automobile Insurance Company Insurance Agent in California is approximately $49,728. This figure is 21% below the national average, providing insights into the specific compensation landscape for State Farm insurance agents in California.

In conclusion, understanding the earnings of State Farm agents involves considering various factors such as location, experience, and specific roles within the agency. From our exploration, it’s evident that State Farm agents have the potential to earn competitive salaries, with figures varying across states and regions. Whether delving into the intricacies of individual agent roles, exploring management positions, or examining the highest-paid agents globally, the compensation landscape offers a diverse range. Aspiring State Farm agents can use this information to gain insights into the industry and make informed decisions about their career paths. Ultimately, the dynamic nature of State Farm agent earnings reflects the adaptability and opportunity within this field.

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