Salary for a Claims Consultant
- A total of 273,930 people were employed as claims consultants in the United States in 2009 with an average income of $58,780 a year, according to the Bureau of Labor Statistics. Wages are fairly evenly spread, the median earning $57,130 a year, the bottom 25 percent earning $43,300 or less, and the top 25 percent earning $72,130 or more. Likewise the bottom 10 percent earned less than $34,820 annually while the top 10 percent earned $85,810 a year or more.
- Insurance carriers were by far the largest employer of claims consultants in 2009, hiring 128,440 people with an average salary of $57,890 a year according to the Bureau of Labor Statistics. This was followed by agencies and brokerages. The highest paying sector was however the securities and commodity contracts intermediation and brokerage industry, which offered an average annual salary of $71,950. The natural gas distribution sector followed, offering average annual incomes of $68,960.
- Claims consultants employed in the District of Columbia in 2009 enjoyed the highest pay packets, which equated to an average of $77,180 a year. New Jersey and Louisiana followed, with salaries averaging $67,190 and $63,630 year. The highest concentration of claims consultants were in Connecticut, with average annual salaries of $62,310, followed by Iowa and North Dakota, which averaged $52,480 and $49,970 in annual pay for claims consultants.
- Although a high school diploma or equivalent is acceptable in some cases, most employers prefer applicants to have a bachelor's degree. The preferred college major often depends on the type of insurance company. For example, an insurance company specializing in buildings would prefer a college graduate with a building engineering background. Work experience in an insurance-related field would prove to be an asset. As the laws regarding insurance claims change often, continuous education within the company is not uncommon.
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