iStock.com/alexsl

Although the salaries of B.C. and Ontario brokers are mostly neck-and-neck, commercial account executives in the Greater Vancouver Area have the potential to outearn their Greater Toronto Area peers, new data by Impact Recruitment shows.

However, salary differences between all provinces are narrowing as national firms begin to implement standardized pay structures, according to findings in the recruiting agency’s Insurance Salary Guide 2025.  

“A VP in British Columbia and a VP in Ontario now earn similar salaries,” the third-annual report reads. “This change is increasing national competition for senior roles as talent is more willing to relocate.”  

Nationally, commercial lines P&C broker executives and commercial lines team leads are earning larger salaries than their personal lines counterparts. These findings persist year-over-year. 

The report shows findings on base salary only and does not include other compensation such as bonuses or commissions — the latter of which often forms a bulk of brokers’ total compensation.  

Plus, Impact Recruitment reports burgeoning approaches to broker pay. 

“To attract top producers, stock options and book-of-business ownership are increasingly offered at mid-sized brokerages,” the report reads. “Bonuses are becoming a larger part of total compensation, often tied to: individual sales performance, company-wide profitability, retention of existing clients.” 

Commercial lines

Account executives

In the Greater Vancouver Area, commercial lines account executives’ salaries show the largest earning potential for brokers nationally, ranging from: 

  • $90,000-$300,000 at the senior level (6+ years’ experience),  
  • $75,000-$110,000 at the intermediate level (3-5 years experience),  
  • $65,000-$90,000 at the junior level (0-2 years experience).  

Salaries remain high, but muted, for commercial account executives in Victoria, B.C. — a minimum of $55,000 for juniors and a maximum of $175,000 for seniors. 

By comparison, in the Greater Toronto Area (GTA), commercial account executives can expect to earn: 

  • $75,000-$150,000 at the senior level,  
  • $60,000-$75,000 at the intermediate level,  
  • $55,000-$60,000 at the junior level, and 
  • $95,000 to $150,000 at the director and assistant vice president level (10+ years). 

British Columbia and Ontario show the largest potential salaries largely due to the higher costs of living and the higher demand for specialized talent in these regions. 

“Our team is seeing significantly higher demand [in B.C.] relative to available candidate supply, particularly in commercial lines such as construction,” the report reads.  

And in Toronto, “there’s a discernible trend of robust salary growth, particularly in niche sales positions.”  

However, the salaries in smaller provinces are certainly catching up. The Prairie provinces “have seen the most significant salary adjustments as firms align pay with larger markets,” says Impact Recruitment.  

In Alberta, salaries for commercial account executives range from: 

  • $90,000-$120,000 at the senior level,  
  • $70,000-$90,000 at the intermediate level,  
  • $60,000-$70,000 at the junior level.

Saskatchewan commercial account executives may earn:  

  • $75,000-$150,000 at the senior level, 
  • $55,000-$75,000 at the intermediate level, 
  •  $50,000-$55,000 at the junior level.

Account managers

Nationally, commercial lines account manager salaries are as follows:   

  • Vancouver: $55,000-$65,000 (junior), $65,000-$85,000 (intermediate), $80,000-$130,000 (senior) 
  • Victoria: $50,000-$65,000 (junior), $70,000-$85,000 (intermediate), $90,000-$110,000 (senior) 
  • Toronto: $55,000-$60,000 (junior), $60,000-$75,000 (intermediate), $75,000-$95,000 (senior), $95,000+ (director), $150,000+ (AVP) 
  • Manitoba: $45,000-$55,000 (junior), $55,000-$70,000 (intermediate), $70,000+ (senior) 
  • Quebec: $50,000-$55,000 (junior), $55,000-$65,000 (intermediate), $65,000-$75,000 (senior) 

In Alberta, commercial lines account manager salaries are broken down by business size: 

  • Large and international: $55,000-$65,000 (junior), $65,000-$90,000 (intermediate), $90,000-$120,000 (senior), $120,000-140,000 (director) 
  • Mid-market: $55,000-$65,000 (junior), $65,000-$85,000 (intermediate), $85,000-$100,000 (senior)  
  • Small business: $55,000-$60,000 (junior), $60,000-$70,000 (intermediate), $70,000-$90,000 (senior) 

Team leads and managers

The report also breaks down salaries for commercial lines team leads or managers in the following provinces: 

  • Vancouver: $80,000-$90,000 (junior), $90,000-$105,000 (intermediate), $110,000+ (senior) 
  • Victoria: $85,000-$95,000 (junior), $95,000-$110,000 (intermediate), $110,000+ (senior) 
  • Toronto: $95,000+ (junior), $120,000-$150,000 (intermediate), $150,000-$200,000+ (senior)  
  • Alberta: $85,000-$90,000 (junior), $90,000-$110,000 (intermediate), $110,000-$140,000 (senior) 

Personal lines

Team leads and managers

Base salaries for personal lines brokers, account managers and team leads are slightly lower than those of their commercial peers.  

In personal lines, team leads and managers have the highest earning potential, according to Impact Recruitment’s data. Their salaries range as follows:  

  • Vancouver: $65,000-$75,000 (junior), $75,000-$85,000 (intermediate), $90,000-$100,000 (senior) 
  • Victoria: $70,000+ (junior), $70,000-$100,000 (intermediate), $95,000+ (senior) 
  • Toronto: $80,000+ (junior), $95,000-$110,000 (intermediate), $110,000-$160,000 
  • Manitoba: $65,000-$70,000 (junior), $70,000-$85,000 (intermediate), $85,000+ (senior) 

Account managers

Regionally, personal lines account managers earn the following salaries: 

  • Vancouver: $50,000-$58,000 (junior), $60,000-$70,000 (intermediate), $70,000+ (senior) 
  • Victoria: $50,000-$60,000 (junior), $60,000-$70,000 (intermediate), $75,000+ (senior) 
  • Toronto: $45,000-$55,000 (junior), $55,000-$65,000 (intermediate), $70,000-$80,000 (senior) 
  • Manitoba: $38,000-$45,000 (junior), $45,000-$55,000 (intermediate), $55,000+ (senior) 
  • Saskatchewan: $45,000-$50,000 (junior), $50,000-$55,000 (intermediate), $55,000-$65,000 (senior) 
  • Quebec: $45,000-$50,000 (junior), $50,000-$60,000 (intermediate), $60,000-$70,000 (senior) 

Sales brokers

Next, personal lines sales brokers in the following regions earn between: 

  • Vancouver: $50,000-$60,000 (junior), $60,000-$75,000 (intermediate), $70,000-110,000+ (senior) 
  • Victoria: $48,000-$55,000 (junior), $55,000-$70,000 (intermediate), $70,000-$90,000+ (senior) 
  • Toronto: $48,000-$52,000 (junior), $52,000-$65,000 (intermediate), $65,000+ (senior) 

Subscribe to our newsletters

Alyssa DiSabatino

Alyssa Di Sabatino has been a reporter for Canadian Underwriter since 2021, covering industry trends, market developments, and emerging risks.