Average Insurance Sales Agents Salary in Detroit-Warren-Dearborn, MI
Insurance Sales Agents in Detroit-Warren-Dearborn, MI, earn an average annual salary of $78,080. This figure is slightly below the national average of $81,510, indicating a localized compensation structure influenced by regional economic factors and industry demand within the metropolitan area.
Executive Summary
- Average Salary: $78,080 per year.
- Growth Trend: Salaries have shifted 13.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $131,280.
- Outlook: The Detroit-Warren-Dearborn metropolitan area supports a robust workforce of 4,840 Insurance Sales Agents. With a Location Quotient of 0.83, the concentration of these professionals is just below the national average, suggesting a stable yet not overly saturated job market with consistent demand for skilled agents.
Salary Overview
The average Insurance Sales Agents in Detroit-Warren-Dearborn, MI earns-4.2%below the national average.
$37.5
$1,502
$6,507
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the insurance sales sector in Detroit-Warren-Dearborn has experienced steady growth over the past four years, mirroring national trends. This growth likely translates to a gradual increase in average salaries as demand for insurance products and services continues to evolve.
Insurance Sales Agents Salary Distribution in Detroit-Warren-Dearborn, MI
Salary progression for Insurance Sales Agents in Detroit-Warren-Dearborn typically scales with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with proven sales records and specialized knowledge can command salaries in the upper percentiles, reflecting significant career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $38,380 | $18.5 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $58,560 | $28.2 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $61,240 | $29.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $97,600 | $46.9 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $131,280 | $63.1 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$78,080
Gross Pay
Real Wage (Purchasing Power)
$78,080
Adjusted for COL (100)
The average annual salary of $78,080 in Detroit-Warren-Dearborn 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 relative to living expenses.
Job Market Context
4,840
Total Jobs
2.535
Per 1K Jobs
0.83
Location Quotient
Detroit-Warren-Dearborn, MI has 0.83x 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 0.83 for Insurance Sales Agents in Detroit-Warren-Dearborn indicates a slightly lower concentration of these professionals compared to the national average. This suggests a competitive market where demand is present but not overwhelmingly high, offering a balanced environment for both job seekers and employers.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Monroe, MI Insurance Sales Agents Salary | $87,470↑ 12% | 34 mi |
| Ann Arbor, MI Insurance Sales Agents Salary | $60,830↓ 22% | 35 mi |
| Toledo, OH Insurance Sales Agents Salary | $76,150↓ 2% | 54 mi |
| Flint, MI Insurance Sales Agents Salary | $64,220↓ 18% | 58 mi |
| Sandusky, OH Insurance Sales Agents Salary | $67,590↓ 13% | 64 mi |
Comparing salaries near Detroit-Warren-Dearborn, MI
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Detroit-Warren-Dearborn, MI?
The median annual salary for a Insurance Sales Agents in Detroit-Warren-Dearborn, MI is $78,080. This typically ranges from $38,380 for entry-level positions to $131,280 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Detroit-Warren-Dearborn, MI is 4.2% lower than the national median of $81,510.
Is Detroit-Warren-Dearborn, MI a lucrative place for Insurance Sales Agentss?
Moderately lucrative, with salary matching the national cost of living.The average salary of $78,080 is slightly below the national average, but the cost of living is also at the national average, making the purchasing power comparable.
Is Detroit-Warren-Dearborn, MI a good place to live for Insurance Sales Agents?
The Cost of Living Index in Detroit-Warren-Dearborn, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Detroit-Warren-Dearborn, MI?
Some top paying nearby cities include Monroe, MI ($87,470) and Ann Arbor, MI.
How does the Detroit insurance market compare to the national average?
The average salary in Detroit is slightly lower than the national average, and the concentration of insurance sales agents is also slightly below the national average.
What is the significance of the Location Quotient (LQ) being 0.83?
An LQ of 0.83 means there are fewer insurance sales agents per capita in Detroit-Warren-Dearborn compared to the national average, suggesting a less concentrated but still active job market.
Does experience impact an Insurance Sales Agent's salary in Detroit?
Yes, experience significantly influences salary, with entry-level agents earning less and senior agents with a strong track record earning considerably more.
How does the cost of living affect the $78,080 salary?
With a Cost of Living Index of 100, the $78,080 salary offers purchasing power equivalent to the national average, meaning your earnings will go as far as they would nationally.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 4,840 employees in the Detroit-Warren-Dearborn, MI area with a job density of 2.535 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 Detroit-Warren-Dearborn, MI