2011 Best Practices Study
Agencies with Revenues Under $1,250,000
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
43.4%
36.0%
38.4%
Payroll: "Non-Employee" – 1099 Producers/Temp Help
2.3%
1.1%
0.6%
Total Payroll
45.7%
37.1%
39.1%
Benefits: Payroll Taxes
4.1%
3.0%
4.0%
Benefits: Retirement
1.9%
1.0%
2.3%
Benefits: Insurance
3.7%
2.7%
3.7%
Benefits: Other
0.2%
0.0%
0.4%
Total Benefits
9.9%
6.8%
10.3%
Total Compensation
55.6%
43.9%
49.3%
©2011 by the Independent Insurance Agents & Brokers of America and Reagan Consulting. All Rights Reserved.
