Show me the money
A recent survey looking into brokers' wages has brought the issue of wage discrepancies to the fore. Diane Smyth investigates
The recently published Insurance Personnel Selection Salary Guide 2003/4 contains some surprising figures. The survey shows the average wage for a junior personal lines broking technician was £11,500 in 2003, £12,500 in commercial.
The IPS survey did not look at directors but a salary of £200,000 is not unusual for successful broker directors. However, industry commentators deny suggestions they are paid too much. "I don't think there are many fat cats in broking," says Ian Richens, chief
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