Insurance Careers Month: Why Young People Should Consider the Insurance Industry
February is Insurance Careers Month, which means it’s a great time to take a look at all the reasons young people are entering the job market and looking to start a career should consider joining the insurance industry. There are many reasons to get into risk management and insurance sales, especially if you are just starting to look for a career path to dedicate your time and effort toward. So, without further ado, let’s discuss just some of the reasons young people should consider studying for their insurance agent exam as soon as possible.
Anyone who is looking for a job or who has seen their workplace go through dramatic job cuts knows that finding a career with good growth prospects, and that offer opportunities for serious career advancement, isn’t easy. The American workplace is undergoing constant change and disruption, the kind that has many industries uneasy and unwilling to take risks on new talent.
Fortunately, the insurance industry has largely been immune to these shifts in the economy and the workplace. According to the Bureau of Labor Statistics, the job numbers for insurance sales agents are expected to increase 9 percent between 2014 and 2024—a rate that’s much higher than the national average for all jobs.
Performance-Based Career Enhancement
Of course, getting a job is just the first step. Another thing that sets insurance sales apart from other industries are the many opportunities for insurance agents to increase their income. For insurance salespeople, the amount of money they earn – and how fast they earn it – is based entirely on performance.
Because the majority of agents’ income comes in the form of sales commissions, it’s possible for even new agents to earn large amounts of money. According to the BLS, the median salary for insurance agents in 2014 was $47,860. For comparison, the median income for a two person household that year was $53,657.
Even better news: The income for insurance agents above the average is even better. In fact, the average income for the top 10% of earners goes as high as $119,970. Translated into an hourly wage, that’s the equivalent of earning $57.68 per hour.
Low Entry Threshold
Another one of the great things about the insurance industry is that, unlike many other industries with high income potential, in most cases becoming an insurance agent does not require getting an advanced degree. While earning a degree can certainly help you learn more about sales, insurance, and other relevant topics, it’s not necessary to starting a career in the field. Unlike other potentially high-paying fields, like tech and finance, where the best jobs only go to those with specific, expensive degrees, the only credential needed to become an insurance agent is an insurance license from the state. This can be done by registering for insurance licensing classes to learn the material, and then taking an exam in your chosen insurance field. Once you’ve passed the exam, you’re free to apply for your license and get to work!
America’s Professor offers pre-insurance license exam classes in a convenient online format. Learn more today by calling 800-870-3130.
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