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Agency Compensation Survey

IIAW Agency Compensation Survey

An Exclusive Agency Compensation Report Focused on Wisconsin Data
In summer and fall of 2022, the Independent Insurance Agents of Wisconsin conducted a compensation survey of its membership consisting of 310 Wisconsin agencies (at over 600 locations) which yielded a 21% response rate or 65 agencies (does not include branch offices). The IIAW decided to undertake this survey after hearing feedback from its membership that other agent/broker compensation surveys from other publications and organizations lacked Wisconsin specific data. In addition, the IIAW felt it was important to gather such data considering how the COVID-19 outbreak, economic conditions and tight labor market have impacted employee compensation across all business sectors, including the independent agency system.


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What Questions Does the Survey Ask?

This survey will ask general agency questions such as agency size, mix of business and high-level agency-specific questions. Then you will be asked payroll and benefit information such as total annual payroll, questions about agency-provided insurance (health, dental, vision), other agency benefits, and outsourced services. Lastly, it will ask you about employee specific pay structure. If you have 10 employees or less, you are welcome to enter in the information directly in the form. If you have more than 10 employees (including yourself), then you are invited to complete an Excel document requesting the employee-specific pay information for all employees and securely upload to the survey. For larger agencies, feel free to complete the information using a sample of employees in various positions and departments.


Data Privacy and Anonymity 

Data security and privacy is taken very seriously. All information submitted will remain highly confidential and only be accessible to certain employees involved in the survey process at the IIAW. Your information submitted will never be sold, shared, or otherwise disseminated. All information gathered will be stripped of agency name, respondent name and other identifiable information. The final report will include summarized statistics and facts without any possibility of identifying the agency or employee that responded. 


Sharing of Report
The final IIAW Agency Compensation Report will only be shared free of charge to agency owners and leaders that participated in the survey. Also, the compensation report will not be made widely available; only agency owners and agency leadership will be able to request or access the report. All requests for the report made by employees that are not the agency owner or leadership will be denied.

 

Please note, while we fully anticipate enough responses to be able to create a reliable report, if we do not receive enough responses to assure anonymity, meet sample size requirements or make statistically significant differences or findings, we will not be able to create an Agency Compensation Report.