Third Party Administration of Insurance and Pension Funds — Average Employee Salary
The average employee in the third party administration of insurance and pension funds industry earns $90,992 per year ($43.75/hour), according to Bureau of Labor Statistics QCEW data.
What Do Third Party Administration of Insurance and Pension Funds Workers Earn?
At $90,992/year (equivalent to $43.75/hour for a full-time worker), third party administration of insurance and pension funds wages are significantly above the national average of ~$65,000.
Higher wages in this industry typically reflect specialized skills, professional certifications, or technical expertise required for the work. Employers competing for talent in this space face elevated labor costs.
The typical third party administration of insurance and pension funds business employs 23 people. These are larger operations where staffing represents a major cost center and management complexity.
Wages as a Percentage of Revenue
For the average third party administration of insurance and pension funds business generating $40.7M/year with 23 employees at $90,992 each, total payroll represents roughly 5.1% of revenue. Labor costs are relatively low compared to revenue — other costs (materials, equipment, overhead) dominate.
What This Means for Business Owners
If you're starting or running a third party administration of insurance and pension fundsbusiness, here's what the wage data means for your bottom line:
- Per-employee cost: Budget approximately $118,290/year per employee (salary + ~30% for benefits, taxes, and insurance).
- Typical team size: 23 employees = ~$2,092,816/year in base payroll.
- Hourly equivalent: $43.75/hour base — factor this into pricing and project estimates.
- Revenue needed: With average revenue of $40.7M/business, you need strong utilization rates to maintain healthy margins after payroll.
See how these wages compare to total revenue and profit margins.
View full Third Party Administration of Insurance and Pension Funds revenue benchmarks →Frequently Asked Questions
- How much do third party administration of insurance and pension funds employees make?
- The average third party administration of insurance and pension funds employee earns $90,992 per year, which is equivalent to $43.75/hour for a full-time worker (2,080 hours/year). This is above the national average of approximately $65,000.
- How many people work in the third party administration of insurance and pension funds industry?
- The third party administration of insurance and pension funds industry employs 216,324 workers across 9,356 establishments in the United States. The average business in this industry has approximately 23 employees.
Source: Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW 2023).