Average Insurance Sales Agents Salary in Buffalo-Cheektowaga, NY
Insurance Sales Agents in Buffalo-Cheektowaga, NY, command an impressive average annual salary of $100,380, significantly surpassing the national average of $81,510. This elevated compensation reflects a localized demand and potentially a higher cost of doing business or a specific market dynamic within the region that values these sales professionals.
Executive Summary
- Average Salary: $100,380 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $180,470.
- Outlook: With a local workforce of 1,340 Insurance Sales Agents and a Location Quotient of 0.82, the Buffalo-Cheektowaga market indicates a stable, albeit slightly below national average, concentration of these roles. The presence of 2.511 jobs per 1,000 workers suggests a consistent demand for insurance sales expertise, pointing towards a robust job market that offers steady opportunities for professionals in this field.
Salary Overview
The average Insurance Sales Agents in Buffalo-Cheektowaga, NY earns+23.2%above the national average.
$48.3
$1,930
$8,365
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Sales Agents in Buffalo-Cheektowaga have seen a steady upward trend over the past four years, mirroring national patterns of wage growth in the insurance sector. This growth is likely driven by inflation, increasing demand for insurance products, and the continuous need for skilled sales professionals to navigate complex policy offerings.
Insurance Sales Agents Salary Distribution in Buffalo-Cheektowaga, NY
The career trajectory for Insurance Sales Agents in Buffalo-Cheektowaga, NY, typically involves significant salary growth with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned agents with proven track records and specialized knowledge can command salaries well into the upper percentiles. The widening gap between entry-level and senior-level salaries underscores the value placed on experience and performance in this role.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $46,470 | $22.3 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $75,285 | $36.2 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $74,380 | $35.8 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $125,475 | $60.3 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $180,470 | $86.8 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$100,380
Gross Pay
Real Wage (Purchasing Power)
$100,380
Adjusted for COL (100)
The average annual salary of $100,380 in Buffalo-Cheektowaga, NY, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Insurance Sales Agent's salary in this region is equivalent to the national average, offering a stable financial standing without the immediate pressure of a significantly higher or lower cost of living.
Job Market Context
1,340
Total Jobs
2.511
Per 1K Jobs
0.82
Location Quotient
Buffalo-Cheektowaga, NY has 0.82x 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 0.82 for Insurance Sales Agents in Buffalo-Cheektowaga, NY, suggests that the concentration of these professionals is slightly below the national average. This indicates a market that is neither oversaturated nor critically lacking in talent, presenting a balanced environment for both job seekers and employers. While not a hub of extreme concentration, the market is sufficiently developed to support a healthy demand for insurance sales expertise.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Rochester, NY Insurance Sales Agents Salary | $82,440↓ 18% | 65 mi |
| Erie, PA Insurance Sales Agents Salary | $87,950↓ 12% | 83 mi |
Comparing salaries near Buffalo-Cheektowaga, NY
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Buffalo-Cheektowaga, NY?
The median annual salary for a Insurance Sales Agents in Buffalo-Cheektowaga, NY is $100,380. This typically ranges from $46,470 for entry-level positions to $180,470 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Buffalo-Cheektowaga, NY is 23.2% higher than the national median of $81,510.
Is Buffalo-Cheektowaga, NY a lucrative place for Insurance Sales Agentss?
Yes, it is a lucrative place for Insurance Sales Agents.The average salary of $100,380 significantly exceeds the national average, and the cost of living is on par with the national average, indicating strong purchasing power for local agents.
Is Buffalo-Cheektowaga, NY a good place to live for Insurance Sales Agents?
The Cost of Living Index in Buffalo-Cheektowaga, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Buffalo-Cheektowaga, NY?
Some top paying nearby cities include Rochester, NY ($82,440) and Erie, PA.
How does the Buffalo-Cheektowaga salary compare to the national average?
The average annual salary for Insurance Sales Agents in Buffalo-Cheektowaga, NY, is $100,380, which is considerably higher than the national average of $81,510.
What is the concentration of Insurance Sales Agents in Buffalo-Cheektowaga, NY?
The concentration, measured by the Location Quotient, is 0.82, indicating that the proportion of Insurance Sales Agents in the local workforce is slightly lower than the national average.
Does the cost of living affect the salary's value in Buffalo-Cheektowaga, NY?
No, the Cost of Living Index is 100, which is the national average. This means the $100,380 salary has the same relative purchasing power as the national average salary.
How many Insurance Sales Agents are there in Buffalo-Cheektowaga, NY?
There are approximately 1,340 Insurance Sales Agents employed in the Buffalo-Cheektowaga, NY area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,340 employees in the Buffalo-Cheektowaga, NY area with a job density of 2.511 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 Buffalo-Cheektowaga, NY