Average Insurance Accounts Executive Salary in United States for 2024

In this article, we will look at the average Insurance Accounts Executive salary for 2024 in United States and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does an Insurance Accounts Executive Make in United States?

An Insurance Accounts Executive working in United States will typically earn around 105,200 USD per year, and this can range from the lowest average salary of about 49,300 USD to the highest average salary of 164,100 USD.

Average Annual Salary
105,200 USD
Average Monthly Salary
8,766 USD

Lowest Annual Salary
49,300 USD
Lowest Monthly Salary
4,108 USD

Highest Annual Salary
164,100 USD
Highest Monthly Salary
13,675 USD

These are average salaries for an Insurance Accounts Executive in United States and include benefits such as housing and transport. It's also possible for an Insurance Accounts Executive to earn more or less than the average salaries shown above.

Insurance Accounts Executive salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Insurance Accounts Executive Salaries in United States

So we've looked at the average salaries an Insurance Accounts Executive will earn in United States. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Insurance Accounts Executive can earn between 49,300 USD and 164,100 USD on average in United States. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Insurance Accounts Executive in United States is 107,300 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 107,300 USD, and 50% of the population earn more than 107,300 USD.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Insurance Accounts Executive salary in United States, 25% of the population are earning less than 69,400 USD while 75% of the population earn more than 69,400 USD.

75% of the population earn less than 138,700 USD, and 25% of the population earn more than 138,700 USD.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Insurance Accounts Executive Salary by Experience Level in United States

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average insurance accounts executive salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Insurance Accounts Executive in United States that has less than two years of experience can expect to earn somewhere in the region of 60,700 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Insurance Accounts Executive salary would increase to 76,800 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Insurance Accounts Executive, the average salary would be 107,700 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 132,000 USD.
  • 15 - 20 Years Experience. An Insurance Accounts Executive with 15 to 20 years of experience can earn an average of 140,200 USD.
  • 20+ Years Experience. For an Insurance Accounts Executive with more than 20 years, the expected average salary increases to 153,800 USD.

Average Salary by Experience Chart

0-2 Years
60,700 USD
2-5 Years +29%
76,800 USD
5-10 Years +38%
107,700 USD
10-15 Years +24%
132,000 USD
15-20 Years +7%
140,200 USD
20+ Years +7%
153,800 USD

Insurance Accounts Executive Salary by Education Level in United States

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Insurance Accounts Executive in United States based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Insurance Accounts Executive in United States with a bachelor's degree education can earn an average salary of 77,400 USD.

  • Master's Degree. An Insurance Accounts Executive in United States with a master's degree education can earn an average salary of 121,800 USD.

Average Salary by Education Chart

Bachelor's Degree
77,400 USD
Master's Degree +60%
121,800 USD

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in United States is around 39,500 to 118,000 USD and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Insurance Accounts Executive Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In United States, a male insurance accounts executive will earn an average of 107,700 USD, while a female insurance accounts executive will earn around 100,700 USD.

This means that a male insurance accounts executive earns approximately 7% more than a female insurance accounts executive for performing the same job.

Average Salary by Gender Chart in United States

Male
107,700 USD
Female -7%
100,700 USD

Insurance Accounts Executive Average Pay Raise in United States

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Insurance Accounts Executive in United States is around 11% every 17 months.

The national average pay raise across all professions and industries in United States is around 8% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 11 ÷ 17 ) × 12  = 8%

What this means is that an Insurance Accounts Executive in United States can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in United States for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in United States.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Insurance Accounts Executive Bonus and Incentive Rates in United States

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Insurance Accounts Executive is a moderate bonus based job, with 57% of employees reporting at least one bonus in the last 12 months.

43% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
57%
No Bonus
43%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in United States earn approximately 6% more than private sector employees in the same role.

Public Sector
98,800 USD
Private Sector -6%
93,100 USD

Salaries for Jobs Similar to an Insurance Accounts Executive

In the table below, we have salary information for jobs that are similar to an Insurance Accounts Executive in United States.

Job Title Category Salary
Actuarial Analyst Insurance 130,400 USD
Actuarial Assistant Insurance 94,000 USD
Actuarial Specialist Insurance 89,400 USD
Actuary Insurance 134,700 USD
Adjustment Insurance Clerk Insurance 35,500 USD
Assistant Broker Insurance 61,600 USD
Assistant Claims Manager Insurance 107,300 USD
Associate Insurance Representative Insurance 46,900 USD
Auditing Insurance Manager Insurance 148,300 USD
Broker Insurance 100,700 USD
Claim Advocacy Professional Insurance 95,200 USD
Claims Adjuster Insurance 39,500 USD
Claims Analyst Insurance 49,300 USD
Claims Examiner Insurance 52,300 USD
Claims Manager Insurance 140,200 USD
Claims Processor Insurance 33,000 USD
Claims Representative Insurance 45,000 USD
Claims Resolution Specialist Insurance 107,300 USD
Claims Supervisor Insurance 95,000 USD
Complaints Specialist Insurance 83,100 USD
Compliance Examiner Insurance 94,900 USD
Compliance Officer Insurance 78,700 USD
Compliance Reviewer Insurance 84,800 USD
Consultant Insurance 100,100 USD
Eligibility Interviewer Insurance 97,600 USD
Eligibility Specialist Insurance 98,900 USD
Insurance Account Manager Insurance 124,500 USD
Insurance Adjuster Insurance 90,000 USD
Insurance Agent Insurance 57,100 USD
Insurance Analyst Insurance 88,500 USD
Insurance Appraiser Insurance 93,600 USD
Insurance Claims Clerk Insurance 35,000 USD
Insurance Examiner Insurance 90,900 USD
Insurance Investigator Insurance 86,600 USD
Insurance Manager Insurance 163,500 USD
Insurance Operations Manager Insurance 158,900 USD
Insurance Policy Processing Clerk Insurance 36,600 USD
Insurance Pricing Assistant Insurance 73,100 USD
Insurance Program Manager Insurance 132,000 USD
Insurance Project Manager Insurance 127,700 USD
Insurance Quality Assurance Agent Insurance 87,000 USD
Insurance Sales Agent Insurance 59,800 USD
Insurance Sales Director Insurance 165,900 USD
Insurance Sales Manager Insurance 130,500 USD
Insurance Sales Representative Insurance 51,300 USD
Insurance Team Leader Insurance 98,800 USD
Insurance Underwriter Insurance 71,800 USD
Loss Control Specialist Insurance 94,300 USD
Loss Prevention Investigator Insurance 102,700 USD
Loss Prevention Manager Insurance 134,100 USD
Loss Prevention Specialist Insurance 100,700 USD
Marine Underwriter Insurance 72,800 USD
Medical Auditor Insurance 96,400 USD
Monitoring and Performance Officer Insurance 65,900 USD
Payment Services Specialist Insurance 100,100 USD
Policy Change Director Insurance 146,900 USD
Policy Change Supervisor Insurance 105,800 USD
Policy Change Technician Insurance 49,700 USD
Risk Analyst Insurance 109,000 USD
Risk Management Director Insurance 192,600 USD
Risk Management Supervisor Insurance 116,400 USD
Risk Manager Insurance 175,100 USD
Risk Modeling Manager Insurance 183,900 USD
Title Insurance Typist Insurance 82,300 USD
Training Manager Insurance 107,700 USD

Salary Comparison by City

If you want to compare salaries with different cities in United States, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Atlanta 103,600 USD
Austin 111,700 USD
Baltimore 107,300 USD
Boston 107,700 USD
Bristol 86,100 USD
Chicago 118,900 USD
Cincinnati 91,700 USD
Cleveland 95,000 USD
Dallas 112,700 USD
Denver 114,600 USD
Detroit 109,000 USD
Honolulu 87,400 USD
Houston 127,700 USD
Indianapolis 111,700 USD
Iowa City 84,800 USD
Jacksonville 116,400 USD
Kansas City 99,100 USD
Kent 84,800 USD
Las Vegas 109,000 USD
Long Beach 94,000 USD
Los Angeles 125,400 USD
Memphis 109,000 USD
Miami 100,100 USD
Minneapolis 99,600 USD
New Orleans 93,300 USD
New York 125,400 USD
Oakland 94,500 USD
Oklahoma City 109,000 USD
Orlando 85,400 USD
Philadelphia 115,600 USD
Phoenix 118,900 USD
Sacramento 97,100 USD
San Antonio 125,400 USD
San Diego 119,700 USD
San Francisco 115,600 USD
San Jose 118,900 USD
Seattle 107,300 USD
Tampa 95,500 USD
Vancouver 85,800 USD
Washington D.C. 109,000 USD

Salary Comparison by State

The table below includes links to the average salary for each state in United States.

City Average Salary
Alabama 102,700 USD
Alaska 91,900 USD
Arizona 109,700 USD
Arkansas 103,600 USD
California 117,100 USD
Colorado 109,000 USD
Connecticut 107,300 USD
Delaware 101,100 USD
District of Columbia 89,900 USD
Florida 112,700 USD
Georgia 112,700 USD
Hawaii 97,400 USD
Idaho 97,400 USD
Illinois 115,600 USD
Indiana 114,600 USD
Iowa 107,300 USD
Kansas 107,700 USD
Kentucky 100,700 USD
Louisiana 103,600 USD
Maine 95,000 USD
Maryland 109,700 USD
Massachusetts 108,200 USD
Michigan 114,300 USD
Minnesota 111,700 USD
Mississippi 107,300 USD
Missouri 105,200 USD
Montana 92,100 USD
Nebraska 95,400 USD
Nevada 99,700 USD
New Hampshire 95,900 USD
New Jersey 114,900 USD
New Mexico 102,700 USD
New York 121,800 USD
North Carolina 109,000 USD
North Dakota 88,300 USD
Ohio 112,700 USD
Oklahoma 102,700 USD
Oregon 105,200 USD
Pennsylvania 115,600 USD
Rhode Island 98,800 USD
South Carolina 108,200 USD
South Dakota 100,500 USD
Tennessee 107,300 USD
Texas 114,900 USD
Utah 97,300 USD
Vermont 93,100 USD
Virginia 114,600 USD
Washington 114,900 USD
West Virginia 103,600 USD
Wisconsin 114,600 USD
Wyoming 86,800 USD

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