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Every year, talented insurance brokers reach the point where they've decided to move. They've had the conversations, signed the new offer, and handed in their resignation. And then their current employer suddenly finds the budget, the title, and the recognition that wasn't available six months ago.
It feels like a win. Most of the time, it isn't.
The numbers are consistent across the recruitment industry, and they're not kind to counter-offers. The majority of professionals who accept a counter-offer and stay in their role end up leaving within 12 months anyway.
The reason is straightforward. A salary increase and a new title don't fix the underlying reasons someone decided to leave in the first place. If a broker wanted to move because of limited career progression, a stifling culture, or a management style that wasn't working, none of those things change because the company panicked when they handed in their notice.
The money is real. The problems are too.
Recently, a broker I'd placed came to me with exactly this situation. She'd accepted a role, then received an aggressive counter-offer from her current company. More money, a step up in title, promises of a clearer path forward.
She took two days to think it over. Then she came back with a clear-eyed assessment: the salary increase was welcome, but the fundamental reasons she wanted to leave, limited progression, a culture that wasn't the right fit, wouldn't change because of a pay rise.
She took the new role. A few weeks in, she reached out to say it was the best decision she'd made.
That's not a unique story. It's a pattern.
Understanding why your current employer suddenly finds the budget is useful context. When a broker hands in their notice, the company is immediately confronted with the real cost of losing them: recruitment fees, time to hire, onboarding, client relationship disruption, and the productivity gap while the role is being backfilled.
A counter-offer is often cheaper in the short term than losing you. That's not a bad thing on its own, but it's worth being clear about what's driving it.
If you had to resign to get recognition, that's important information. It tells you something about how your value is seen within that business when you're not at the door.
If you're in this position right now, here's what's worth thinking through honestly:
What specifically made you want to leave? Write it down.
Which of those things does the counter-offer actually fix?
Why wasn't this offer on the table six months ago?
How will your relationship with your manager change now that they know you were looking?
What happens in 12 months if the underlying issues haven't shifted?
Most brokers who work through these questions honestly arrive at the same answer. But it's worth doing the thinking, not just reacting to the flattery of being wanted.
There's a version of this conversation that's relevant to employers too. If your best people are getting to resignation before you're having meaningful conversations about their career, that's a pipeline problem, not a retention problem.
The brokers worth keeping are the ones who have options. And the ones with options know their value. Waiting until they're halfway out the door to demonstrate that you know it too is a losing strategy.
The best company in the broking market build cultures where career conversations happen regularly, not reactively. Where progression is visible before someone has to force the issue by resigning.
You don't have to take the counter-offer. You also don't have to reject it automatically. What you do have to do is be honest with yourself about what drove you to look in the first place.
If those things are genuinely going to change, that's worth weighing seriously. If they're not, a pay rise is a short-term fix to a longer-term problem.
As Bailey De Souza puts it: if you had to resign to get the recognition you deserve, you're probably at the wrong company.
Should I accept a counter-offer as an insurance broker?
It depends on whether the counter-offer addresses the real reasons you wanted to leave. A salary increase alone rarely fixes issues around culture, career progression, or management style. Most brokers who accept counter-offers without those underlying issues being resolved end up leaving within 12 months anyway.
Why do most brokers who accept counter-offers still leave within a year?
Because the root causes of wanting to move, whether that's limited progression, a difficult culture, or a management relationship that isn't working, don't change when an employer adds more money to keep you. The circumstances that made you look in the first place are usually still there.
How common are counter-offers in insurance broking?
Very common, particularly for experienced brokers with strong client relationships or specialist expertise. The cost of losing a good broker, factoring in recruitment, onboarding, and client disruption, is significant enough that most companies will at least attempt to retain someone once they resign.
What should I consider before accepting a counter-offer?
Start by listing the specific reasons you decided to look in the first place. Then be honest about which of those things the counter-offer actually addresses. Also worth considering: why wasn't this offer made before you resigned, and how will the dynamic with your employer shift now that they know you were looking?
How can Haylo People help insurance brokers navigating a counter-offer?
Haylo People specialises exclusively in insurance broking recruitment across Australia. We can give you a frank, market-informed view of what's available, what your profile looks like to prospective employers, and what questions are worth asking before you make a decision either way.
Thinking about your next move in Insurance Broking? Haylo People works exclusively with broking professionals across Sydney, Melbourne, and Brisbane. Reach out for a confidential conversation about what the market looks like right now.
Associate Director
Broking, NSW & VIC
📧bailey.desouza@haylopeople.com.au
📞0481166043
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