How much do state farm insurance agents make

all insured

What is the average salary of a State Farm agent?

$38,130

Is State Farm agent a good job?

Great company to work for. State Farm is one of the best insurance companies out there to work for with several different products to offer clients. … The benefits are good if you put in the work.

Do insurance agents make a base salary?

The Base Salary of an Insurance Agent

The 2017 median annual wage for an insurance agent is $49,710 and the hourly wage is $23.90 per hour, according to the U.S. Department of Labor’s Bureau of Labor Statistics, New agents make less than $27,180, while those with years in the business can make upwards of $125,190.

How much money do you need to start a State Farm agency?

They estimate an initial investment between $115,200 and $181,000.

Do State Farm agents get paid hourly?

The typical State Farm Insurance Agent makes $16 per hour. Insurance Agent hourly pay at State Farm can range from $11 – $21. When factoring in bonuses and additional compensation, a Insurance Agent at State Farm can expect to make an average annual salary of $34,740 . …

Do you need a degree to be a State Farm agent?

“Decent company with great benefits but do not be misled, you MUST have a bachelor’s degree.” The pay is decent and the training is industry leading. Working for State Farm alone will open lots of doors for you. … The pay is considerably lower than similar jobs with other insurance carriers.

How often do state farm employees get paid?

7 answers. Commission weekly, Base salary bi weekly. I was paid bi-weekly as an account executive. The pay schedule is bi-weekly.

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What are the requirements to be a State Farm agent?

Training for a State Farm agent position can take about 2 years. There is an internship and a 1 year independent commitment to complete before becoming a full-fledged agent. . Home, auto and life insurance are a few packages agents are eligible to sell, once becoming a State Farm agent.

What is the most profitable insurance to sell?

I say it all the time, the most lucrative insurance to sell is the kind your prospects need.

And so on and so forth for the following:

  • Long-Term Care Insurance.
  • Annuities.
  • Umbrella Coverage.
  • Final Expense.
  • General Liability.

What type of insurance agent makes the most money?

What Types of Insurance Agent Jobs Get Paid the Most Money?Job TitleHourly WageAnnual SalaryDirect Sales Agent Salary$37.96$78,966Health Insurance Sales Salary$35.76$74,377Licensed Life Insurance Agent Salary$34.35$71,445Medicare Insurance Agent Salary$33.77$70,249

Who is the highest paid insurance agent?

Gideon du Plessis

Do State Farm agents own their book of business?

I was a State Farm agent for almost 27 years, and I can tell you an agent does not own his business. State Farm ownsthe business you are just an independent contractor. … State Farm has eliminated much of this, and it makes sense for their business model.

How long is the hiring process for State Farm?

Hiring and and interviewing is a basic phone, testing, interview process. My phone interview was within a week of applying, then the face-to-face was the next week. It was a very long hiring process, about 2 months altogether. I interviewed with two departments within about two weeks after taking the test.

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