Claim Salary Survey Results are up at Claims Magazine!

October 19, 2007

We had previously asked our readers on the Dimechimes Corporation Adjuster Information Blog and on ClaimSmentor to participate in this year’s National Underwriters Claim Salary Survey for Claims Professionals from adjusters up to executive level managers. Here is a link to the initial blog requesting readers participate.

Claims Magazine by National Underwriter has now published the results of the survey with some very interesting findings on salaries for both staff and independent adjusters.

Here is a link to the article and  survey results in Claims Magazines Feature story in the October issue. Due to other things going on, I hadn’t had time to check to see if they were up. Here is the link to the actual salary statistics with several surprises ….I didn’t see one entry at the mythical 200K income level many new adjusters hear about from their friends in the survey reports but hey…maybe those independents earning those big bucks were out on a cruise spending it and missed the survey!

Managing Editor, Eric Gilkey’s done such a good job on the article, I won’t add much by way of comments and let you read it for yourself. The only HUGE thing that stuck out to me was that while the average independent adjuster income from those surveyed was at $60,436 compared to a staff adjuster average income at a bit less at $56,747 there is no true comparison as the independent had huge expenses against their income for hotel, vehicles, and equipment versus the staff adjuster with everything provided by the insurance carrier. I was amazed to see the average Independent adjusting firm owner at only $94,000 against information I often receive indicating with their bonus added in it’s more like 250K…maybe that information was a myth too! Independent firm managers/supervisors came in at 75K versus Staff at the same level earning 83K. Now that is really pretty bad when the IA firm manager had big expenses against their lower income.

Other results in the survey outside of salary correspond to what is going on in the industry….less staff with company cars and cell phones would be right considering the many claim central operations and lower field staff which is one of the very reasons for centralizing or outsourcing claims to cut huge carrier expenses. I don’t understand the part about independents with the company cars unless they are considered employees to the IA firm since independents normally supply all of their own equipment and transportation at their own expense.

If you missed our other blogs on adjuster income for staff, independents, and auto adjusters here are links to other blogs on adjuster income:

Adjuster overtime issues click here.

Pros and Cons of Staff versus Independent Adjusters click here.

Auto Adjuster incomes click here.

Adjuster fee bills in the news click here.

How much income adjusters make click here.

Adjuster- Employee or Independent status- properly classified? Click here.

We hope everyone enjoys the survey and we thank Claims Magazine for this 17th annual poll so we all have a source for determining average incomes of our claim peers!

Watch tomorrow for a new survey up by owner Thomas Brown- there’s a surprise in store for those participating! I’ll have it posted as soon as I have the go ahead to announce the details!