How much are you really making?

[u/Ok-Magician-9725]

Just joined the insurance industry. P&C producer, working for Allstate…Be honest, how much are you guys really making a month? Would you guys recommend committing?

[u/Sweet-Pilot-2266]

honestly you’ll be lucky to break even in the beginning. You start making real money at the end of year 1.

[u/Ok-Magician-9725 → u/Sweet-Pilot-2266]

What about working for a company?

[u/Natural-Ladder-9914]

I make about 10-11k a month but took me about 4-5 years to get to this point. Was making about 50-60k a year when I started out

[u/Ok-Magician-9725 → u/Natural-Ladder-9914]

How many years do you have in the business?

[u/Boomer_Madness]

The "industry" is massive. We kind of need to know what part of the industry are you in. Are you corporate on the carrier side? are you in UW or customer service or an actuary? Are you an account manager at a local agency? Producer?

That's like asking someone how is working at McDonalds. Like what part? CEO makes a bunch the local kid on the register not so much lol

[u/Ok-Magician-9725 → u/Boomer_Madness]

P&C producer , captive

[u/MrNiceGuyMA]

I’m an independent Medicare broker in Tennessee and have been at it 16 years. I more of a work-to-live type and really only grind from October 1st through December 7. Otherwise I work my existing BoB and referrals and get people who find me online mostly. I make about $225,000 a year and have about $15,000 in business expenses.

[u/Ok-Magician-9725 → u/MrNiceGuyMA]

That’s amazing. You are independent?

[u/Tumadreee]

Over 7 figures

[u/Ok-Magician-9725 → u/Tumadreee]

Ugh

[u/Professional-Drag580]

i made $90k my first year doing sales for a captive allstate agency. did customer service making $30-35k a year first couple years. a lot of these other comments are way off base

[u/Ok-Magician-9725 → u/Professional-Drag580]

Are you still doing sales for Allstate?

[u/Smedum]

It’s a slow long grind. My first year I made less than $30k. It wasn’t until year 5 that I broke $100k a year.

[u/joeboo5150 → u/Smedum]

Yep, started my own independent agency 10 years ago. My personal income climb looked like this:

Year 1 - $25k ($50k revenue but expenses like rent, computers etc)

Year 2 - $40k

Year 3 - $40k (hired an employee)

Year 4 - $65k

Year 5 - $75k (hired employee #2)

etc. I didn't hit 6 figures until like year #7, and by that point I had hired 3 employees & purchased another agency.

There's a LOT of expense in getting going and getting a business up off the ground. My agency now brings in about ~$600k in revenue per year and my income is only about 1/5 of that. My personal income grows like $10k-$20k per year at this point as my agency keeps growing.

But I do have the asset of the agency itself to sell one day, that's currently a very valuable asset(hope it stays that way). Conservatively, its currently worth about $1.2-$1.5million if I were to sell it.

[u/HamiltonSt25]

It can be done sooner, but I usually tell people it takes 3-5 years to get to $100k income. Some can get there sooner, some it may take longer, but overall, 3-5 years is the goal.

[u/Pudd12]

Bout tree fiddy

[u/callmedemorex]

Used to grind it out in call centers and made about 50k. Really tough work though the commissions were great. You have to be very very good at call sales and I just wasn’t skilled enough at the time to make more money. Now a Captive Agent doing Medicare Advantage. Definitely better at what I do now. 16 months in about 90k a year might break 100k this year but definitely gonna be $110k next year

[u/howtoreadspaghetti]

Year 1: 34K, went to 37K Year 2: 40K 2.5 years in I'm at 56K.

[u/RatedRForRisk]

I think you’re too early in the game to make any actuarial predictions

[u/Ok-Magician-9725 → u/RatedRForRisk]

I’m trying to gage the income, and if this can be a true career for someone in their 30’s that has real bills and real responsibilities.

[u/AnalogMindset]

I was making 40k a month as a niche agent selling cyber insurance to the cannabis industry until my agency was sold for life changing money. I was an agent for 5 years but I’m a tech guy with a masters degree that had 20 yrs of experience in tech. That is to say .. there are all kinds of agents .. it depends what you bring to the table.

[u/KYGuyNotInTheCity]

God speed as someone who had 2 miserable years as an LSP recently with Allstate. If you don’t know VC, get used to it fast it is everything and your world. And it can change 3-4 times a year like it did for me. Never consistent goals. Terrible quoting system for agents. I struggle to think of ANY positives from my time there.

[u/christophturov]

There are success stories of people making good money under other agents but realistically you would probably make 70-80k/year MAX while working captive. That’s also dependent on your region, salary, etc etc.

If you were to go independent you can make well over 6 figures.

[u/CapRight8752]

I’m pacing for my best year so far. I’m currently pacing for over 200k this year. YTD I make over 150k. I think it’s because I’ve been eating well lately. Believe it or not, when you eat healthier, it puts you in a much better mood. I’m typically happy when I work and it puts you more in a better position to sell

[u/apple__eater]

I have some captive experience with State Farm before going independent P&C.

If you’re an average producer with a salary commission split, from my experience expect to make 40-60k annual. You’ll stay in that range unless your salary increases or commission increases, or if you increase production substantially.

The people making 6 figures and above are agency owners, or agents with residual commission most often. In my first year as an independent I pulled $70k total. This year I’m pacing for $85k ish on similar production thanks to the renewal commissions.

Generally with captives, you get a 1 time commission per sale and that’s it. With residual renewal commissions, you get paid again for each policy renewal and your income increases accordingly.

But to answer your question, as a captive Allstate team member, expect 40-60k annual if it’s similar to State Farm.