The 2022 Compensation Study is available for purchase by clicking on the link above.
MarshBerry's 2022 Insurance Brokerage Compensation Study
MarshBerry’s 2022 Agency & Brokerage Compensation Study is a one of a kind report in the insurance agency.
The Study, conducted in 1Q2022, provides an in-depth understanding of employee compensation benchmarks and trends which are essential when competing for top talent in the insurance industry. With firms spending just under 70% of their revenue on compensation costs, the key is to have reliable and current data to make decisions in a rapidly evolving landscape. With unprecedented competition for talent, employers must take measures to ensure their firms stand out from competitors if they want to attract and retain the best talent. Today, this goes beyond just the paycheck — employees are increasingly looking at the company culture, benefits, flexibility, upskilling, and work–life balance when deciding whether to accept or stay in a position.
Study Key Take-aways
The Study presents the aggregate responses provided by insurance agency and brokerage participants, as well as relevant data sets from the MarshBerry proprietary financial management system Perspectives for High Performance (PHP).
The report offers insight on:
- Executive & Management Compensation
- Validated & Unvalidated Producer Compensation
- Service Staff Compensation
- Support Staff Compensation
- Trends in Employee Benefits