P&C Agent Salary/commission Percentage

volga

New Member
1
Hello Forumers,
I am a brand new agency owner and getting in to this field. I am opening up an general line P&C independent agency with two producers to start with. As the recruitment is taken care by an experienced professional, the salary/compensation is something I have to work on for my producers.

Can someone please let me know how much is the market average I should be paying to the producers and what percentage of commissions.

What are the different ways of paying an producer.

How to set target for each producers?

One producer is roughly 6 years of experience and one producer will be around 2-3 yrs of experience in the office. The office is going to be in Dallas.

Your suggestions and help on the matter will be of highly helpful and appreciated. I have reading this forum for a while and I am yet to understand many things in this industry. I kindly request you all to guide me and help me grow.
Thank you!
 
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The only thing that is standard concerning producer compensation is there is no standard. Your location, target market, lines of business, marketing plan, and producer capabilities/job descriptions will all play a part. And there are countless ways to structure producer conpensation.

If you are starting a brand new agency with two producers, I am going to assume you are set up to feed opportunities to inside sales, order takers?
 
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