What commercial and personal lines brokers make in 2024

Across the country, commercial lines property and casualty insurance broker executives and commercial lines team leads and managers make more money on average than their personal lines counterparts, Impact Recruitment’s newest data shows. 

The second iteration of Impact’s annual Insurance Salary Guide shows base pay ranges based on experience level and breaks the numbers down per province. Although the report breaks down findings across multiple dimensions, it doesn’t include insights on pay in the form of bonuses, commissions, or other types of compensation. 

As demand for talent heightens across all lines and operations, salary growth has “actually tempered slightly – not increasing as dramatically as in years prior,” Impact notes of its larger findings. 


Commercial lines salaries 

In the Greater Toronto Area, senior commercial lines account executives earn $85,000 to $120,000 annually (for six-plus years’ experience), while intermediates (three to five years of experience) earn $75,000 to 85,000, and juniors (two or fewer years of experience) earn $65,000 to $75,000. 

Elsewhere in the country, commercial account executives in the Greater Vancouver area earn between $100,000 and $150,000 in senior positions, $75,000 to $95,000 in intermediate roles, and $$65,000 to $75,000 for juniors. The figures are the same for commercial lines broker executives working in Victoria, B.C. 

In Alberta, senior commercial lines broker account executives earn $90,000 to $110,000, intermediates earn $70,000 to $90,000, and juniors earn $60,000 to $70,000. 

Commercial lines broker executives are far and few between, industry sources say, which may explain their sizeable insurance salaries. In B.C. specifically, “our [P&C recruitment] team is seeing very limited candidate supply, particularly in commercial lines such as construction,” Impact reports.  

On top of that, commercial lines often require more tailored expertise, and salaries compensate for that.  

The report breaks down compensation for more commercial insurance positions. For example, commercial lines account manager salaries are as follows:  

  • Alberta: $55,000-65,000 (junior), $65,000-80,000 (intermediate), $80,000-100,000 (senior) 
  • Greater Vancouver: $55,000-65,000 (junior), $65,000-85,000 (intermediate), $80,000-130,000+ (senior) 
  • Toronto/GTA: $55,000-65,000 (junior) $65,000-80,000 (intermediate), $80,000-120,000+ (senior) 

Commercial lines team leads or line managers also earn substantial salaries, broken down as follows:  

  • Alberta: $65,000-90,000 (junior), $90,000-100,000 (intermediate), $100,000-120,000 (senior) 
  • Greater Vancouver: $75,000-85,000 (junior), $85,000-100,000+ (intermediate), $100,000-150,000+ (senior) 
  • Toronto/GTA: $75,000-85,000 (junior), $85,000-100,000 (intermediate), $100,000-150,000+ (senior) 

The report also shows findings for Quebec, Manitoba and Saskatchewan. The Prairies, specifically, are seeing high levels of demand for talent across all titles, Impact notes. “Despite this demand, salary increases are limited, as employers navigate budget constraints.” 


Personal lines salaries 

Salaries for personal lines broker account managers are slightly lower than their counterparts on the commercial side.  

In Alberta, seniors can expect to earn between $65,000 and $80,000, intermediates can expect anywhere between $55,000 and $65,000, while juniors may receive $50,000 to $55,000. That’s anywhere from $15,000 to $30,000 less, on average, than their commercial peers.  

In the Greater Vancouver area, senior personal lines account managers earn $70,000 to $80,000, intermediates $60,000 to $70,000, and juniors $50,000 to $58,000. Earnings in Victoria dip just slightly from these numbers.  

However, In Toronto/GTA, personal lines account managers can earn between $65,000 and $70,000 as seniors, $55,000 to $65,000 as intermediates, and $50,000 to $55,000 as juniors.  

Personal lines team leads and managers earn as follows:  

  • Alberta: $50,000 to 55,000 (junior), $55,000 to $65,000 (intermediate), $65,000 to 80,000 (senior) 
  • Greater Vancouver: $50,000 to $58,000 (junior), $60,000 $70,000 (intermediate), and $70,000 to $80,000+ (senior) 
  • Toronto/GTA: $50,000 to $55,000 (junior), $55,000 to $65,000 (intermediate), and $65,000 to $70,000+ (senior) 

In Manitoba, Saskatchewan and Quebec, personal lines account managers earn slightly less than those of the larger provinces.  

It’s worth noting commissions for brokers clocked in around 7.85% to 11.42% for personal lines’ home and auto insurance, according to previous Canadian Underwriter reporting.


Feature image by Rodriguez Mena

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