Types of Degrees Majors Are Getting

The following table lists how many insurance graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Bachelor’s Degree	1,427
Basic Certificate	153
Master’s Degree	92
Graduate Certificate	43
Associate Degree	13
Undergraduate Certificate	9

What Majors Need to Know

O*NET surveyed people in occupations related to insurance and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Insurance Majors

Insurance majors often go into careers in which the following knowledge areas are important:

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Insurance Majors

insurance majors are found most commonly in careers in which the following skills are important:

• Speaking - Talking to others to convey information effectively.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Insurance Majors

Insurance majors often go into careers where the following abilities are vital:

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Speech Clarity - The ability to speak clearly so others can understand you.

What Can You Do With a Major?

Below is a list of occupations associated with insurance:

Job Title	Job Growth Rate	Median Salary
Insurance Appraisers, Auto Damage	5.1%	$62,520
Insurance Sales Agents	9.9%	$50,600

Who Is Getting a Bachelor’s Degree in ?

Insurance runs middle of the road when it comes to popularity, ranking #21 out of all the business majors we track. In 2021, about 1,505 graduates completed their bachelor’s degree in this field. This major attracts more men than women. About 66% of the graduates in this field are male.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of insurance majors is as follows:

Race/Ethnicity	Number of Grads
Asian	81
Black or African American	53
Hispanic or Latino	95
White	1,067
International Students	66
Other Races/Ethnicities	65

Geographic Diversity

Students from other countries are interested in Insurance, too. About 4.6% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• Saudi Arabia
• South Korea
• Bermuda
• Cote-D’Ivoire

How Much Do Majors Make?

Bachelor’s Degree Starting Salary

Salaries According to BLS

Average salaries range from $67,540 to $76,880 (25th to 75th percentile) for careers related to insurance. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to

Some degrees associated with insurance may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to insurance have obtained the following education levels.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	10.7%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	6.5%
Some College Courses	7.9%
Associate’s Degree (or other 2-year degree)	8.5%
Bachelor’s Degree	42.2%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	2.0%
Master’s Degree	4.7%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	0.1%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	0.1%
Doctoral Degree	16.8%

Online Programs

The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	9	2
Certificate (2-4 Years)	1	0
Associate’s Degree	23	7
Bachelor’s Degree	8	2
Post-Baccalaureate	0	0
Master’s Degree	12	5
Post-Master’s	0	0
Doctor’s Degree (Research)	1	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Worth It?

The median salary for a insurance grad is $67,890 per year. This is based on the weighted average of the most common careers associated with the major.

This is 70% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $559,800 after 20 years!

Majors Related to

You may also be interested in one of the following majors related to insurance.

Major	Number of Grads
Business Administration & Management	403,753
Accounting	93,982
General Business/Commerce	56,779
Finance & Financial Management	54,690
Marketing	52,078
Management Sciences & Quantitative Methods	48,037
Human Resource Management	27,074
Business Support & Assistant Services	19,686
Hospitality Management	16,015
Management Information Systems	12,429
Entrepreneurial Studies	12,241
International Business	8,014
Real Estate	7,448
General Sales & Marketing	5,450
Business/Managerial Economics	5,151
Specialized Sales, Merchandising & Marketing	4,668
Other Business, Management & Marketing	4,606
Construction Management	4,158
Taxation	1,447
Business/Corporate Communications	897
Telecommunications Management	68

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By Nick Youngson under License

More about our data sources and methodologies.