All in a day's work: 2020 Claims salary survey results

Approximately 68% of the survey respondents said they were likely to recommend the claims profession to other people. (Photo: Number1411/Shutterstock)

For the past 20 years, Claims Magazine has been tracking the salaries of claims professionals, the benefits they receive, how their jobs have changed, and what they see in the future for the industry. This year, the experts within ALM Intelligence, a division of Claims’ parent company, ALM Media, LLC, conducted the survey.

Multiple Claims surveys over the last several years have indicated that a significant number of claims professionals (almost 30%)  will leave the industry due to retirement. Recent figures from the U.S. Bureau of Labor Statistics confirm this finding to some extent. In 2019, there were 332,900 claims adjusters, examiners and investigators. The Bureau predicts that the industry will see a 6% drop in employment from 2020-2029 or a loss of 21,400 jobs over the decade. Auto insurance appraisers held 15,900 jobs in 2019, and the Bureau expects to see a 4% drop job in employment over the next 10 years or a loss of about 600 jobs.