Average Insurance Sales Agents Salary in Albany-Schenectady-Troy, NY
Insurance Sales Agents in the Albany-Schenectady-Troy, NY area command an impressive average annual salary of $113,690, significantly outpacing the national average of $81,510. This elevated compensation is likely influenced by a combination of regional economic factors and the specific demands of the insurance market within this metropolitan area.
Executive Summary
- Average Salary: $113,690 per year.
- Growth Trend: Salaries have shifted 25.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $177,950.
- Outlook: With a local workforce of 1,040 Insurance Sales Agents, the Albany-Schenectady-Troy region demonstrates a stable presence in this sector. The Location Quotient of 0.77 suggests a slightly lower concentration of these professionals compared to the national average, indicating a potentially balanced job market where demand is met by a sufficient, though not overly saturated, supply of talent.
Salary Overview
The average Insurance Sales Agents in Albany-Schenectady-Troy, NY earns+39.5%above the national average.
$54.7
$2,186
$9,474
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for this role in Albany-Schenectady-Troy is not provided, it is reasonable to assume that salaries for Insurance Sales Agents have experienced consistent growth over the past four years, mirroring national trends. This upward trajectory is typically driven by inflation, increasing demand for insurance products, and the evolving complexity of financial services.
Insurance Sales Agents Salary Distribution in Albany-Schenectady-Troy, NY
Career progression in insurance sales is strongly tied to experience, with significant salary increases observed from entry-level positions to senior roles. The gap between lower and higher salary percentiles highlights the substantial earning potential for seasoned professionals who have cultivated expertise, client relationships, and a proven track record of success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $46,850 | $22.5 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $85,268 | $41 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $75,830 | $36.5 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $142,113 | $68.3 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $177,950 | $85.6 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$113,690
Gross Pay
Real Wage (Purchasing Power)
$113,690
Adjusted for COL (100)
The average annual salary of $113,690 in Albany-Schenectady-Troy aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary translates directly to purchasing power equivalent to the national standard, offering a stable financial foundation for residents.
Job Market Context
1,040
Total Jobs
2.352
Per 1K Jobs
0.77
Location Quotient
Albany-Schenectady-Troy, NY has 0.77x the national average concentration of Insurance Sales Agents jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.77 indicates that Insurance Sales Agents are present in the Albany-Schenectady-Troy area at a rate slightly below the national average. This suggests that while the profession is established, the market is not saturated, potentially offering good opportunities for skilled individuals without intense competition from a disproportionately large number of peers.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Pittsfield, MA Insurance Sales Agents Salary | $96,030↓ 16% | 31 mi |
| Glens Falls, NY Insurance Sales Agents Salary | $81,430↓ 28% | 45 mi |
| Kingston, NY Insurance Sales Agents Salary | $80,630↓ 29% | 52 mi |
| Southwest New York nonmetropolitan area Insurance Sales Agents Salary | $64,580↓ 43% | 68 mi |
| Central East New York nonmetropolitan area Insurance Sales Agents Salary | $84,500↓ 26% | 68 mi |
Comparing salaries near Albany-Schenectady-Troy, NY
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Albany-Schenectady-Troy, NY?
The median annual salary for a Insurance Sales Agents in Albany-Schenectady-Troy, NY is $113,690. This typically ranges from $46,850 for entry-level positions to $177,950 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albany-Schenectady-Troy, NY is 39.5% higher than the national median of $81,510.
Is Albany-Schenectady-Troy, NY a lucrative place for Insurance Sales Agentss?
Yes, it is a lucrative place for Insurance Sales Agents.The average salary of $113,690 is substantially higher than the national average, and the cost of living is at the national average, indicating strong purchasing power for these earnings.
Is Albany-Schenectady-Troy, NY a good place to live for Insurance Sales Agents?
The Cost of Living Index in Albany-Schenectady-Troy, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albany-Schenectady-Troy, NY?
Some top paying nearby cities include Pittsfield, MA ($96,030) and Glens Falls, NY.
How does the Albany-Schenectady-Troy salary compare to the national average?
The average annual salary for Insurance Sales Agents in Albany-Schenectady-Troy is $113,690, which is considerably higher than the national average of $81,510.
What is the concentration of Insurance Sales Agents in this area?
The Location Quotient is 0.77, meaning the concentration of Insurance Sales Agents in Albany-Schenectady-Troy is slightly below the national average.
How does the cost of living affect the salary in Albany-Schenectady-Troy?
With a Cost of Living Index of 100, the national average, the $113,690 salary offers purchasing power equivalent to the national standard, making it a financially stable location.
What is the total number of Insurance Sales Agents in the region?
There are approximately 1,040 Insurance Sales Agents employed within the Albany-Schenectady-Troy metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,040 employees in the Albany-Schenectady-Troy, NY area with a job density of 2.352 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Insurance Sales Agents Salaries by State
Top Jobs in Albany-Schenectady-Troy, NY
- All Occupations Salary in Albany-Schenectady-Troy, NY
- Office and Administrative Support Occupations Salary in Albany-Schenectady-Troy, NY
- Business and Financial Operations Occupations Salary in Albany-Schenectady-Troy, NY
- Sales and Related Occupations Salary in Albany-Schenectady-Troy, NY
- Educational Instruction and Library Occupations Salary in Albany-Schenectady-Troy, NY
- Food Preparation and Serving Related Occupations Salary in Albany-Schenectady-Troy, NY
- Transportation and Material Moving Occupations Salary in Albany-Schenectady-Troy, NY
- Management Occupations Salary in Albany-Schenectady-Troy, NY
- Healthcare Practitioners and Technical Occupations Salary in Albany-Schenectady-Troy, NY
- Healthcare Support Occupations Salary in Albany-Schenectady-Troy, NY
- Browse All Jobs in Albany-Schenectady-Troy, NY →
Semantic Salary Analysis for Insurance Sales Agents • Data source: BLS OEWS 2024 •Jobs in Albany-Schenectady-Troy, NY