Ever since the financial crisis in 2008, Americans have been struggling to find good paying work. Many people suddenly found themselves laid off or working fewer hours and struggling to make the bills, and even those who managed to keep their jobs found the cost of living rising even as wages stayed stagnant.
Things have gotten better since then, but it’s still not an easy environment to find work in. Many industries have not rehired their downsized workers or started spending the same money on more employees. There is one industry, however, that has stayed high paying and consistent, even when the economy was at its lowest point: insurance sales.
If you’re looking for a stable, well paid position that is easy to become qualified for, it’s time to consider becoming an insurance agent.
Even during the economically depressed year of 2012, the average salary for an insurance agent was over $63,000. That’s higher than the average salary for salespeople, customer service representatives, receptionists, and retail workers during the same time period. Those insurance agents who made above the mean average took home even more, with the top 10% of insurance salesmen making an average of over $116,000 that year.
That alone would be a promising sign for the industry, but it gets even better. Even after the Great Recession in 2008, an insurance agent’s average pay continued to rise: while the average pay was $63,000 in 2012, it was only around $60,000 in 2008.
Not only is insurance a stable, growing industry now, it’s likely to stay that way well into the future. The US Bureau of Labor Statistics predicts that the industry will grow by 10% between 2012 and 2022 , adding millions more insurance agent jobs to the market. If anything, that projection might be too conservative/ With the addition of legislation like the Affordable Care Act and an aging Baby Boomer population, the demand for insurance (and thus the demand for insurance agents) is only going to increase.
Selling insurance is a steady, well paying job that has been largely buffered against the ups and downs of the economy. So what’s the catch? There isn’t one. All that’s required to become an insurance agent is to take an exam and obtain an insurance license from the state where you’ll be working. Beyond that, many insurance companies require no more than a high school diploma. Entering the insurance industry is a relatively easy way for men and women to obtain a stable, high salaried career without even having to get a bachelor’s degree.
Becoming an insurance agent is a relatively easy way to find job stability and a respectable income. Despite the recent troubles with the economy and the softness of the job market, the demand for insurance agents has only increased, as has the pay they earn.
America’s Professor makes insurance exam prep easy. By providing customers with a variety of training materials for insurance exams in multiple states, America’s Professor helps clients pass their licensing tests in the ways that best suit them. Visit their site at www.americasprofessor.com to find out more.
|Insurance Licensing Courses||Insurance Practice Exams|