Average Insurance Sales Agents Salary in East Central Illinois nonmetropolitan area
Insurance Sales Agents in the East Central Illinois nonmetropolitan area earn an average annual salary of $65,930. This figure is notably below the national average of $81,510, reflecting regional economic factors and potentially a different market dynamic. The specific economic landscape and demand within this nonmetropolitan region play a significant role in shaping compensation levels for these professionals.
Executive Summary
- Average Salary: $65,930 per year.
- Growth Trend: Salaries have shifted 32.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $93,770.
- Outlook: The local job market for Insurance Sales Agents in East Central Illinois appears stable, with a total workforce of 500 professionals. The Location Quotient of 1.15 suggests a slightly higher concentration of these roles compared to the national average, indicating a steady, albeit not booming, demand within the region. This concentration points to a consistent need for insurance services in the area.
Salary Overview
The average Insurance Sales Agents in East Central Illinois nonmetropolitan area earns-19.1%below the national average.
$31.7
$1,268
$5,494
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it is reasonable to assume that salaries for Insurance Sales Agents have experienced gradual growth over the past four years, mirroring national trends. Economic recovery and evolving insurance needs likely contribute to modest increases in compensation, keeping pace with inflation and market demands.
Insurance Sales Agents Salary Distribution in East Central Illinois nonmetropolitan area
Salary progression for Insurance Sales Agents typically correlates with experience and demonstrated success. Entry-level positions may start at the lower end of the pay scale, while seasoned agents with established clienteles and a proven track record can command significantly higher salaries. The percentile gaps in earnings clearly signify career advancement opportunities and the rewards associated with building expertise and a strong professional network.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $37,750 | $18.1 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $49,448 | $23.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $48,440 | $23.3 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $82,413 | $39.6 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $93,770 | $45.1 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$65,930
Gross Pay
Real Wage (Purchasing Power)
$65,930
Adjusted for COL (100)
The nominal average annual salary of $65,930 in East Central Illinois 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, making it neither exceptionally advantageous nor disadvantageous from a cost-of-living perspective.
Job Market Context
500
Total Jobs
3.497
Per 1K Jobs
1.15
Location Quotient
With a location quotient of 1.15, East Central Illinois nonmetropolitan area has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
With a Location Quotient of 1.15, the East Central Illinois nonmetropolitan area exhibits a slightly higher concentration of Insurance Sales Agents than the national average. This suggests a moderately competitive market where demand is present and perhaps slightly more concentrated than in other regions, offering opportunities for those looking to enter or advance in the field.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Bloomington, IL Insurance Sales Agents Salary | $102,040↑ 55% | 9 mi |
| Decatur, IL Insurance Sales Agents Salary | $64,390↓ 2% | 34 mi |
| Champaign-Urbana, IL Insurance Sales Agents Salary | $77,060↑ 17% | 41 mi |
| Peoria, IL Insurance Sales Agents Salary | $59,180↓ 10% | 43 mi |
| Springfield, IL Insurance Sales Agents Salary | $66,850↑ 1% | 53 mi |
Comparing salaries near East Central Illinois nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in East Central Illinois nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in East Central Illinois nonmetropolitan area is $65,930. This typically ranges from $37,750 for entry-level positions to $93,770 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in East Central Illinois nonmetropolitan area is 19.1% lower than the national median of $81,510.
Is East Central Illinois nonmetropolitan area a lucrative place for Insurance Sales Agentss?
No, it is not exceptionally lucrative compared to the national average.The average salary of $65,930 is below the national average of $81,510, although the cost of living is on par with the national average.
Is East Central Illinois nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in East Central Illinois nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near East Central Illinois nonmetropolitan area?
Some top paying nearby cities include Bloomington, IL ($102,040) and Decatur, IL.
How does the local salary compare to the national average?
The average annual salary for Insurance Sales Agents in East Central Illinois is $65,930, which is lower than the national average of $81,510.
What is the concentration of Insurance Sales Agents in this area?
The Location Quotient is 1.15, indicating a slightly higher concentration of Insurance Sales Agents in East Central Illinois compared to the national average.
How does the cost of living affect the salary?
The Cost of Living Index is 100, which is the national average. This means the $65,930 salary has the same purchasing power as the national average salary.
What does the total local workforce size suggest?
A total local workforce of 500 Insurance Sales Agents suggests a stable, established market for these professionals within the region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 500 employees in the East Central Illinois nonmetropolitan area area with a job density of 3.497 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 East Central Illinois nonmetropolitan area