Average Insurance Sales Agents Salary in Baltimore-Columbia-Towson, MD
Insurance Sales Agents in the Baltimore-Columbia-Towson, MD area earn an average annual salary of $65,800. This figure is notably below the national average of $81,510, suggesting that local market dynamics, such as demand and the concentration of industry players, may influence compensation levels in this region. The specific economic landscape of Baltimore-Columbia-Towson dictates this pay scale.
Executive Summary
- Average Salary: $65,800 per year.
- Growth Trend: Salaries have shifted 3.1% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $97,070.
- Outlook: The Baltimore-Columbia-Towson, MD area supports a local workforce of 1,960 Insurance Sales Agents. With a Location Quotient of 0.48, the concentration of these roles is below the national average, indicating a less saturated market compared to other regions. While the absolute number of professionals is substantial, the lower concentration suggests that opportunities may be more specialized or that the demand is met by a slightly smaller proportion of the workforce relative to national benchmarks.
Salary Overview
The average Insurance Sales Agents in Baltimore-Columbia-Towson, MD earns-19.3%below the national average.
$31.6
$1,265
$5,483
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data isn't provided, it's generally observed that salaries for Insurance Sales Agents across the nation, including in metropolitan areas like Baltimore-Columbia-Towson, MD, have experienced consistent growth over the past four years. This upward trend is typically driven by inflation, increasing demand for insurance products, and the evolving complexity of financial services, leading to a gradual increase in average compensation for experienced professionals.
Insurance Sales Agents Salary Distribution in Baltimore-Columbia-Towson, MD
The salary trajectory for Insurance Sales Agents in Baltimore-Columbia-Towson, MD, like elsewhere, is significantly influenced by experience. Entry-level positions typically start at a lower percentile, perhaps around $50,000, while seasoned professionals with a proven track record and specialized knowledge can command salaries well into the $80,000s or higher. The percentile gaps clearly signify career progression, rewarding accumulated expertise and sales performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $36,010 | $17.3 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $49,350 | $23.7 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $58,970 | $28.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $82,250 | $39.5 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $97,070 | $46.7 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$65,800
Gross Pay
Real Wage (Purchasing Power)
$65,800
Adjusted for COL (100)
With an average annual salary of $65,800 and a Cost of Living Index at the national average of 100, the nominal income for Insurance Sales Agents in Baltimore-Columbia-Towson, MD, aligns directly with national spending patterns. This means that the purchasing power of the $65,800 salary is neither significantly enhanced nor diminished by the local cost of living, offering a stable financial standing relative to the rest of the country.
Job Market Context
1,960
Total Jobs
1.464
Per 1K Jobs
0.48
Location Quotient
At 0.48x, Baltimore-Columbia-Towson, MD has a notably lower concentration of Insurance Sales Agents jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient of 0.48 for Insurance Sales Agents in Baltimore-Columbia-Towson, MD, indicates a lower concentration of these professionals compared to the national average. This suggests that the job market might be less competitive in terms of sheer numbers, potentially offering more room for individual agents to establish themselves. However, it also implies that the demand might not be as robust as in areas with a higher concentration, requiring agents to be strategic in their market approach.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Maryland nonmetropolitan area Insurance Sales Agents Salary | $58,090↓ 12% | 19 mi |
| Washington-Arlington-Alexandria, DC-VA-MD-WV Insurance Sales Agents Salary | $77,640↑ 18% | 35 mi |
| York-Hanover, PA Insurance Sales Agents Salary | $71,660↑ 9% | 47 mi |
| Gettysburg, PA Insurance Sales Agents Salary | $61,950↓ 6% | 50 mi |
| Lancaster, PA Insurance Sales Agents Salary | $83,540↑ 27% | 55 mi |
Comparing salaries near Baltimore-Columbia-Towson, MD
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Baltimore-Columbia-Towson, MD?
The median annual salary for a Insurance Sales Agents in Baltimore-Columbia-Towson, MD is $65,800. This typically ranges from $36,010 for entry-level positions to $97,070 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Baltimore-Columbia-Towson, MD is 19.3% lower than the national median of $81,510.
Is Baltimore-Columbia-Towson, MD a lucrative place for Insurance Sales Agentss?
No, it is not currently more lucrative than the national average.The average salary of $65,800 is below the national average of $81,510, and the cost of living is exactly at the national average, offering no cost-of-living advantage to offset the lower pay.
Is Baltimore-Columbia-Towson, MD a good place to live for Insurance Sales Agents?
The Cost of Living Index in Baltimore-Columbia-Towson, MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Baltimore-Columbia-Towson, MD?
Some top paying nearby cities include Maryland nonmetropolitan area ($58,090) and Washington-Arlington-Alexandria, DC-VA-MD-WV.
How does the Baltimore-Columbia-Towson, MD salary compare to the national average?
The average annual salary for Insurance Sales Agents in Baltimore-Columbia-Towson, MD, is $65,800, which is significantly lower than the national average of $81,510.
What is the concentration of Insurance Sales Agents in Baltimore-Columbia-Towson, MD?
The concentration, measured by the Location Quotient, is 0.48, meaning there are fewer Insurance Sales Agents relative to the national average.
How does the cost of living in Baltimore-Columbia-Towson, MD affect the salary?
The Cost of Living Index is 100, which is the national average. Therefore, the $65,800 salary has the same purchasing power as it would in a typical U.S. city.
What is the total number of Insurance Sales Agents in the Baltimore-Columbia-Towson, MD area?
There are approximately 1,960 Insurance Sales Agents employed in the Baltimore-Columbia-Towson, MD 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 1,960 employees in the Baltimore-Columbia-Towson, MD area with a job density of 1.464 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Insurance Sales Agents • Data source: BLS OEWS 2024 •Jobs in Baltimore-Columbia-Towson, MD