2011 Best Practices Study
Agencies with Revenues between $5,000,000 and $10,000,000
Compensation Expense |
Selling Expenses
|
Operating Expense
|
Adminstrative Expense/Total Expenses
|
Expense Growth Over Prior Year
Expenses
(as % of Net Revenues)
Average
+25% Profit
+25% Growth
Compensation Expenses
Payroll: Employee
51.7%
43.6%
48.8%
Payroll: "Non-Employee" – 1099 Producers/Temp Help
5.7%
8.2%
7.9%
Total Payroll
57.3%
51.8%
56.7%
Benefits: Payroll Taxes
3.2%
2.7%
2.8%
Benefits: Retirement
1.8%
1.5%
2.8%
Benefits: Insurance
3.8%
3.1%
4.2%
Benefits: Other
0.3%
0.3%
0.2%
Total Benefits
9.2%
7.6%
9.9%
Total Compensation
66.5%
59.4%
66.6%
©2011 by the Independent Insurance Agents & Brokers of America and Reagan Consulting. All Rights Reserved.
