Since 2003, The Spencer James Group has been recruiting in the employee benefits niche.
Although that includes the broker/consulting side, benefits technology companies, stop loss vendors, healthcare cost containment companies and other areas, historically there has been special emphasis on recruiting field sales, service and management roles within the ancillary (life and disability) space.
For the last 13 years (the last 8 can be found on the links below), we have been conducting a group rep compensation survey for sales reps who are selling group life and LTD (and in many cases dental and voluntary benefits). We solicit the information from reps at the top ancillary carriers.
The results are self reported, so they may not be as ‘official’ as LIMRA results, but they are free, concise, straightforward and in our opinion, credible. We typically see about 300 respondents in a group rep universe of about 1,500 sales reps. That’s a much better sample than you’ll find in most polls!
Salaries in these roles are often very low, but overall compensation is high. As we often joke, where else can B students at state schools earn what doctors and lawyers earn without the years of school and mountains of debt?!