Tuesday, April 12, 2011

The Salary of an Entry-Level Claims Adjuster

The salary of an entry-level claims adjuster varies widely based on several factors. Often, adjusters get a base salary plus bonuses and benefits which, together, determine the overall pay package. Your employer's size, your industry and your years of experience affect your starting pay. Claims adjusters with a college degree(s) find the best opportunities. Consider the whole compensation package before choosing your first employer.

Median Expected Salary

In the U.S., a claims adjuster I, or entry-level claims adjuster, earns a median salary of $40,224 per year, according to Salary.com website. By searching with your own ZIP code or by the ZIP codes of other cities where you would consider working as an entry-level claims adjuster, you can fine tune median salary rates.
GEICO headquarters in Chevy ChaseImage via Wikipedia
GEICO headquarters in Chevy Chase

Example of Entry-Level Position Stipulations

In April of 2011, GEICO Insurance, for example, offers training for applicants with college degrees. No previous insurance adjuster experience requirements apply to this position. Applicants earn approximately $40,000 per year and get 100 per cent-free, on-the-job training from GEICO University, an internal corporate training program for employees.  

Position and Experience

Claims adjusters work in various fields such as automotive, property and casualty or business claims. Depending on the type of claims adjuster position, entry-level salaries may differ. The median claims adjuster salary, including claims adjusters with some experience, ranges from $39,000 to $65,000 per year, according to the College Grad website.
 
Popular Employers by Minimum Salary Range

The top five most popular employers of claims adjusters, according to Payscale website, include The Travelers Companies, Inc., Allstate Insurance Company, State Farm Insurance Company, Progressive Casualty Insurance Company and Sedgwick Claims Management Services, Inc. Travelers and Progressive have the highest pay potential for entry-level employees showing a minimum salary range of $49,000 and $39,000 respectively. The middle employer of the top five most popular employers is Allstate, where you can earn $37,000 per year to start. Close behind and tied for the bottom spots you find State Farm and Sedgwick at $36,000 per year.
 
Expected Top Pay Tiers

Looking at the same five most popular insurance employers--Travelers, Allstate, State Farm, Progressive and Sedgwick--you may earn as much as $70,000 to $80,000 per year salary once you work your way up to the top pay tier.
 
Bonuses, Benefits and Other Typical Perks

Many claims adjusters, especially those working for insurance companies, receive bonuses and benefits in addition to their salaries. Many of the bonuses can have a substantial impact on your overall salary prospects. Other common benefits include provision of a cell phone and laptop, as well as either a company car or reimbursement for the use of your personal vehicle. Look at the complete package when comparing employment opportunities.


References:

•College Grad: Career Information


Resources:

•EduDecisions: Claims Adjuster - Salary, Education and Career Guide for Becoming a Claims Adjuster
•Higher Salary: Claims Adjuster Salary



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10 comments:

  1. deangraziosiApril 13, 2011 at 2:05 AM

    I like building of GEICO headquarters in Chevy Chase. Its glass paneling is very good. thank you for more reference.
    dean graziosi

    ReplyDelete
  2. MALINDA WINKLEApril 13, 2011 at 11:42 AM

    Mr. Graziosi, it's an honor to have you visit my site. I'll have to share with the followers who you are and what you do in case they don't already know... He's a guru of real estate investing. Watch for my upcoming post to learn more about Dean Graziosi.

    My theory is that those pretty glass panels were selected to match that cute little animated gecko who is spokesperson for GEICO. Does anyone agree? Disagree?

    Thanks for your visit and comment.

    Malinda

    ReplyDelete
  3. CRichmanApril 17, 2011 at 8:33 PM

    following from the hop please stop by
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    ReplyDelete
  4. Public Adjuster New JerseyJune 21, 2011 at 8:42 AM

    Many of the bonuses can have a substantial impact on your overall salary prospects.

    ReplyDelete
  5. MALINDA WINKLEJune 21, 2011 at 10:05 AM

    To Public Adjuster New Jersey:

    My research found the same thing. What has your experience with bonuses been? Are they paid monthly? annually? on what basis?

    Malinda Winkle

    ReplyDelete
  6. johnseomavenOctober 3, 2011 at 10:18 AM

    Aside from the increasing need for Adjusters, the need for Adjuster licensing exam is also on the rise since many individuals pursuing their career as an Insurance Adjuster. For example, those people who wish to become an adjuster in Texas must take a Texas Adjuster License online because these courses are very dependable and flexible where you can take the exam anywhere at your preferred time. These courses are also inexpensive and you can interact with an online instructor if you want.

    ReplyDelete
  7. Eliza WintersMarch 13, 2012 at 1:45 PM

    Thanks for all of the great information. My husband has been looking into this and was not sure if it would be a good move for us. I think that the entry-level salary is really good compared to other entry-level markets. Being a public insurance adjuster would be a really good move for him.

    ReplyDelete
  8. LeyoJuly 28, 2014 at 6:39 AM

    Insurance claims adjusters can make per annum is the subject of considerable interest and speculation to those interested in a career in claims.claims pages

    ReplyDelete
  9. claims pagesAugust 22, 2014 at 11:26 AM

    The Claims Pages is the largest circulated reference source for insurance claims adjusters.The Claims Pages print and online directories have become the largest circulated reference source for insurance claims adjusters with links to service providers, industry news, videos, documents.

    ReplyDelete
  10. UnknownFebruary 18, 2015 at 6:39 AM

    Hello,
    In my view Custard Insurance Adjusters seeks a multi line adjuster to cover the Detroit and surrounding areas. This position is commission only but could lead to a full time position.Claims Pages

    ReplyDelete

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