2023/2024 Health Insurance Sales Force Compensation Insights Report

Sales Compensation Plan Design in an Evolving Economy

High-performing companies know the importance of regularly re-evaluating sales incentive plans to ensure they reflect changes to the external market, as well as changes to the company’s go-to-market strategy. The recently published 2023 BDO Health Insurance Industry Sales Force Compensation Survey provides an in-depth look at compensation levels, plan designs, and incentive practices for industry-specific sales roles.

The full survey report provides extensive data and analysis which participating companies use to answer critical compensation issues and questions, such as appropriately incentivizing the sales force to drive business results while retaining high caliber sales professionals. This Insights Report highlights key findings from the full report, specifically: 

  • Key drivers of pay levels for various sales positions — types of sales roles, product(s) sold, market segment(s).
  • Major factors that impact decisions regarding the amount of pay that should be at risk.
  • Important considerations for the types of sales incentive plan(s) that should be used, including if companies are using sales bonuses, commissions, or a combination of both.
  • Careful evaluation for the overall prevalence of using long-term incentives to incentivize sales positions.

About the Survey

BDO’s annual Health Insurance Industry Sales Force Compensation Survey of 1,900 positions reports compensation data including base salary, sales incentives, commissions, and corporate incentives. It provides details about the use of long–term incentives and plan design information for sales representatives, account managers, inside sales, and customer service staff. The survey also explores pay–for–performance relationships that are fundamental to developing effect sales incentive plans. Survey responses are gathered annually from participating health insurance organizations with three categories of analyses: compensation levels, sales incentive plan design, and pay for performance.

Learn more about BDO’s Compensation Surveys, including how to participate.