It is not easy to answer when it comes to the question of how much financial professionals make per year. There are lots of factors to consider. Some of the more prominent factors are the type of products and services you sell, the region you are in, the market demand for that specific product and service, and so on.
According to the Bureau of Labor Statistics (BLS), an insurance agent can earn more than $100,000 in their first year. The median annual wage for insurance sales agents was $49,840 as of May 2021. The lowest 10% of earners in the industry made less than $29,970, and the highest 10% earned more than $126,510. But this is insurance as a whole. In contrast, if we only consider life insurance agents, I want to say that you can make up to 100,000 a year as a life insurance agent, considering you found the right broker-dealer company, the proper training, and a proven system to grow your business. Still, you will have a lot of room for growth in this field.
If you have a strong work ethic, are willing to learn, and actively put yourself out there, you could quickly earn more than sufficiently well as a financial professional. In addition, your excellence in sales directly reflects the money you make since income for financial professionals relies on commissions and bonuses. With that in mind, the insurance industry is constantly growing and will always need individuals with potential.
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