Average Insurance Sales Agents Salary in Bloomington, IL
Insurance Sales Agents in Bloomington, IL, command an impressive average annual salary of $102,040, substantially exceeding the national average of $81,510. This elevated compensation is likely driven by a combination of local market demand and the specific economic landscape of Bloomington, IL, which supports higher pay for specialized sales roles.
Executive Summary
- Average Salary: $102,040 per year.
- Growth Trend: Salaries have shifted 109.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $188,530.
- Outlook: With a local workforce of 330 Insurance Sales Agents and a Location Quotient of 1.21, Bloomington, IL, demonstrates a concentration of these professionals that is 21% higher than the national average. This suggests a robust and potentially growing demand for insurance sales expertise within the region, indicating a healthy job market for this profession.
Salary Overview
The average Insurance Sales Agents in Bloomington, IL earns+25.2%above the national average.
$49.1
$1,962
$8,503
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for Insurance Sales Agents in Bloomington, IL, has experienced consistent growth over the past four years, mirroring national trends. Factors such as inflation, evolving insurance products, and increased demand for financial security likely contribute to upward salary pressure in this sector.
Insurance Sales Agents Salary Distribution in Bloomington, IL
Salary progression for Insurance Sales Agents in Bloomington, IL, typically correlates with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with established client bases and advanced sales skills can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies significant career growth potential and increased earning capacity.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $36,320 | $17.5 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $76,530 | $36.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $70,960 | $34.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $127,550 | $61.3 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $188,530 | $90.6 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$102,040
Gross Pay
Real Wage (Purchasing Power)
$102,040
Adjusted for COL (100)
The average annual salary of $102,040 in Bloomington, IL, is particularly attractive when considered against the local Cost of Living Index of 100, which is precisely the national average. This means that the higher nominal income translates directly into strong purchasing power, allowing residents to maintain a comparable or even improved standard of living compared to the average American.
Job Market Context
330
Total Jobs
3.696
Per 1K Jobs
1.21
Location Quotient
With a location quotient of 1.21, Bloomington, IL has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
A Location Quotient of 1.21 indicates that Bloomington, IL, has a higher concentration of Insurance Sales Agents relative to its overall workforce compared to the national average. This suggests a specialized market where demand for these skills is more pronounced, potentially leading to increased competition among employers for talent but also offering more opportunities for agents.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| West Central Illinois nonmetropolitan area Insurance Sales Agents Salary | $77,350↓ 24% | 9 mi |
| East Central Illinois nonmetropolitan area Insurance Sales Agents Salary | $65,930↓ 35% | 9 mi |
| Northwest Illinois nonmetropolitan area Insurance Sales Agents Salary | $58,720↓ 42% | 9 mi |
| South Illinois nonmetropolitan area Insurance Sales Agents Salary | $60,260↓ 41% | 9 mi |
| Peoria, IL Insurance Sales Agents Salary | $59,180↓ 42% | 39 mi |
Comparing salaries near Bloomington, IL
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Bloomington, IL?
The median annual salary for a Insurance Sales Agents in Bloomington, IL is $102,040. This typically ranges from $36,320 for entry-level positions to $188,530 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bloomington, IL is 25.2% higher than the national median of $81,510.
Is Bloomington, IL a lucrative place for Insurance Sales Agentss?
Yes, Bloomington, IL is a lucrative location for Insurance Sales Agents.The average salary significantly surpasses the national average, and the cost of living is on par with the national index, offering excellent purchasing power.
Is Bloomington, IL a good place to live for Insurance Sales Agents?
The Cost of Living Index in Bloomington, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bloomington, IL?
Some top paying nearby cities include West Central Illinois nonmetropolitan area ($77,350) and East Central Illinois nonmetropolitan area.
How does the local workforce size affect job prospects?
A local workforce of 330 suggests a substantial, established presence of Insurance Sales Agents, indicating a stable market with ongoing opportunities for both new entrants and experienced professionals.
What does a Location Quotient of 1.21 mean for job seekers?
A Location Quotient above 1.0 signifies a higher concentration of Insurance Sales Agents in Bloomington, IL, than the national average, implying a strong local demand for this profession.
How does the cost of living impact the salary?
With a Cost of Living Index of 100, the national average, the $102,040 salary in Bloomington, IL, offers significant real value and a high standard of living.
Are there many insurance sales jobs per 1,000 workers in Bloomington, IL?
With 3.696 jobs per 1,000 workers, Bloomington, IL, shows a healthy ratio of insurance sales positions relative to its general employment landscape, indicating good availability.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 330 employees in the Bloomington, IL area with a job density of 3.696 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 Bloomington, IL