Average Insurance Sales Agents Salary in Charlottesville, VA
Insurance Sales Agents in Charlottesville, VA, earn an average annual salary of $76,530. This figure is slightly below the national average of $81,510, reflecting a localized market dynamic. Factors such as regional demand, the specific mix of insurance products prevalent in the area, and the overall economic climate of Charlottesville contribute to this compensation.
Executive Summary
- Average Salary: $76,530 per year.
- Growth Trend: Salaries have shifted 12.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $135,030.
- Outlook: Charlottesville, VA, supports a local workforce of 310 Insurance Sales Agents. With a Location Quotient of 0.91, the concentration of these roles is nearly on par with the national average, indicating a stable and consistent demand for insurance professionals. The presence of 2.766 jobs per 1,000 workers suggests a healthy, albeit not exceptionally concentrated, job market for this profession.
Salary Overview
The average Insurance Sales Agents in Charlottesville, VA earns-6.1%below the national average.
$36.8
$1,472
$6,378
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Charlottesville is not provided, it is reasonable to assume that salaries for Insurance Sales Agents in the area have experienced growth over the past four years, mirroring national trends. Economic shifts, evolving insurance needs, and inflation typically drive salary increases in most professional fields.
Insurance Sales Agents Salary Distribution in Charlottesville, VA
Salary progression for Insurance Sales Agents in Charlottesville, VA, is significantly influenced by experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with a proven track record and specialized knowledge can command higher salaries. The percentile gaps in earnings clearly signify the career progression opportunities available, rewarding expertise and client acquisition success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $36,080 | $17.3 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $57,398 | $27.6 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $60,480 | $29.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $95,663 | $46 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $135,030 | $64.9 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$76,530
Gross Pay
Real Wage (Purchasing Power)
$76,530
Adjusted for COL (100)
For professionals considering a move to Charlottesville, VA, the average salary of $76,530 aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of an Insurance Sales Agent's salary in Charlottesville is equivalent to the national average, offering a stable financial outlook without the immediate pressure of higher or lower living expenses.
Job Market Context
310
Total Jobs
2.766
Per 1K Jobs
0.91
Location Quotient
Charlottesville, VA has 0.91x 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.
The Location Quotient of 0.91 for Insurance Sales Agents in Charlottesville suggests that the market is neither significantly over- nor under-saturated compared to the national landscape. This indicates a balanced environment where opportunities exist, but competition may be present, requiring agents to leverage their skills and networks effectively to secure and advance their careers.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Insurance Sales Agents Salary | $74,720↓ 2% | 25 mi |
| Northern West Virginia nonmetropolitan area Insurance Sales Agents Salary | $53,320↓ 30% | 25 mi |
| Southwest Virginia nonmetropolitan area Insurance Sales Agents Salary | $59,910↓ 22% | 25 mi |
| Northwest Virginia nonmetropolitan area Insurance Sales Agents Salary | $69,660↓ 9% | 25 mi |
| Southern West Virginia nonmetropolitan area Insurance Sales Agents Salary | $44,690↓ 42% | 25 mi |
Comparing salaries near Charlottesville, VA
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Charlottesville, VA?
The median annual salary for a Insurance Sales Agents in Charlottesville, VA is $76,530. This typically ranges from $36,080 for entry-level positions to $135,030 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Charlottesville, VA is 6.1% lower than the national median of $81,510.
Is Charlottesville, VA a lucrative place for Insurance Sales Agentss?
Yes, with caveats.The average salary of $76,530 is competitive, especially when matched against a national average Cost of Living Index of 100. While slightly below the national salary average, the stable job market and equivalent cost of living present a solid financial proposition.
Is Charlottesville, VA a good place to live for Insurance Sales Agents?
The Cost of Living Index in Charlottesville, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Charlottesville, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($74,720) and Northern West Virginia nonmetropolitan area.
How does the local workforce size affect job prospects?
A local workforce of 310 Insurance Sales Agents indicates a moderately sized professional community. This suggests a stable job market with consistent opportunities, though perhaps not as numerous as in larger metropolitan areas.
What does a Location Quotient of 0.91 mean for job seekers?
A Location Quotient of 0.91 signifies that the concentration of Insurance Sales Agents in Charlottesville is very close to the national average. This implies a balanced job market where demand and supply are relatively aligned.
How does the Cost of Living in Charlottesville compare nationally?
Charlottesville, VA, has a Cost of Living Index of 100, which is exactly the national average. This means that the general expenses for housing, utilities, groceries, and transportation are comparable to the U.S. average.
Are there significant salary differences based on experience for Insurance Sales Agents in Charlottesville?
Yes, experience plays a crucial role. Entry-level agents typically earn less, while those with several years of experience, a strong client base, and specialized certifications can command significantly higher salaries, reflecting their value and expertise.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 310 employees in the Charlottesville, VA area with a job density of 2.766 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 Charlottesville, VA