Marsh Canada promises the highest earnings potential for brokers among seven major brokerages listed in a report by the online career research centre, PayScale.com.
The average gross income for brokers at Marsh Canada – including base salary, bonuses, profit-sharing and commissions – is $63,832. Marsh Canada also has the widest pay band among the brokerages listed in the report, with a minimum take-home pay for brokers starting at $32,627.
The report lists the pay ranges for the following brokerages:
• Aon Reed Stenhouse: $40,305 to $55,233
• TD Insurance: $41,928 to $49,896
• Hub International-Barton Insurance Brokers: $23,583 to $45,781
• Western Financial Group: $29,087 to $44,808
• Hub International: $35,000 to $43,448
• Canada Brokerlink: $37,000 to $43,039
The above figures are national averages, and the numbers can vary from region to region, PayScale notes.
Overall, Canadian insurance brokers are taking home between $29,438 and $59,164 per year, nationally. That includes an average bonus of up to $5,018, profit-sharing earnings of between $96 to $5,091, and a commission of up to $11,892.
The database includes data on more than 1,066 brokers reporting.
