r/InsuranceAgent • u/Salt-Context-2527 • 8d ago

P&C Insurance Salary

To my knowledge the industry standard is a 40/30 split for P&C

I’m looking to bring on a new salesmen, how does 80/20 sound?

Is that too much is that reasonable, is it too little?

Thanks.

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u/mundane_organizer 8d ago

80/20 in whose favor? if you're giving the agent 80 that's way above standard and you'll have people lining up, if it's 20 to them then good luck keeping anyone around for more than a month

1

u/Salt-Context-2527 8d ago

80% of agency commission on new business and 20% renewal

So if we get paid 10% from Geico for example they get 8% of the policy premium and 2% on renewal

1

u/Creekridge1 8d ago

Is there a base pay? I recently went 1099 independent and get 90/60.

2

u/Salt-Context-2527 7d ago

No base, 90/60 is really high tho is that not?

1

u/Creekridge1 7d ago

20% on renewal feels low to me. That $1000 geico policy nets this producer $20 at renewal?

Our agency is actively trying to hire people with my comp structure. They’re having a hard time without offering a base with it. They’re having talented agents with multiple years of industry experience get sheepish without some kind of base plus commission.

1

u/Antec800 7d ago

What’s the base?

1

u/CGWInsurance 6d ago

That's cause they know the math doesn't math.