Average Insurance Sales Agents Salary in Florence, SC
Insurance Sales Agents in Florence, SC, earn an average annual salary of $78,720. This figure is slightly below the national average of $81,510, suggesting a localized compensation structure influenced by regional economic factors and market demand specific to the Florence area. While not reaching the national benchmark, this salary reflects the value placed on these professionals within the South Carolina market.
Executive Summary
- Average Salary: $78,720 per year.
- Growth Trend: Salaries have shifted 53.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $128,210.
- Outlook: The Florence, SC job market for Insurance Sales Agents is moderately sized, with a total local workforce of 250 individuals. The Location Quotient of 0.93 indicates that this profession is nearly as concentrated in Florence as it is nationally, suggesting a stable, albeit not exceptionally high, demand for these roles. With 2.835 jobs per 1,000 workers, the presence of this profession is consistent with broader employment trends.
Salary Overview
The average Insurance Sales Agents in Florence, SC earns-3.4%below the national average.
$37.9
$1,514
$6,560
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Florence, SC is not provided, it is reasonable to assume that salaries for Insurance Sales Agents have experienced growth over the past four years, mirroring national trends. Economic shifts, evolving insurance needs, and inflation typically drive upward adjustments in compensation, ensuring that agents' earnings keep pace with market dynamics and the increasing complexity of the insurance landscape.
Insurance Sales Agents Salary Distribution in Florence, SC
Career progression for Insurance Sales Agents in Florence, SC, is typically marked by increasing earning potential. Entry-level positions may start closer to the lower end of the salary spectrum, while seasoned professionals with a proven track record and specialized knowledge can command significantly higher salaries, potentially exceeding the average. The percentile gaps in earnings clearly signify the rewards associated with experience, client acquisition, and sales performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $45,680 | $22 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $59,040 | $28.4 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $76,500 | $36.8 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $98,400 | $47.3 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $128,210 | $61.6 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$78,720
Gross Pay
Real Wage (Purchasing Power)
$78,720
Adjusted for COL (100)
For individuals considering a move to Florence, SC, the average salary of $78,720 aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of an Insurance Sales Agent's income in Florence is equivalent to the national average, offering a stable financial foundation without the premium associated with higher cost-of-living areas.
Job Market Context
250
Total Jobs
2.835
Per 1K Jobs
0.93
Location Quotient
Florence, SC has 0.93x 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.
With a Location Quotient of 0.93, the market for Insurance Sales Agents in Florence, SC, is neither significantly over- nor under-represented compared to the national average. This suggests a balanced and competitive environment where opportunities exist, but the concentration of professionals is in line with general employment patterns, indicating a steady demand for skilled agents.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Sumter, SC Insurance Sales Agents Salary | $65,040↓ 17% | 38 mi |
| Myrtle Beach-Conway-North Myrtle Beach, SC Insurance Sales Agents Salary | $58,900↓ 25% | 61 mi |
| Columbia, SC Insurance Sales Agents Salary | $78,650↓ 0% | 64 mi |
| Northwestern South Carolina nonmetropolitan area Insurance Sales Agents Salary | $48,520↓ 38% | 70 mi |
| Northeastern South Carolina nonmetropolitan area Insurance Sales Agents Salary | $52,210↓ 34% | 70 mi |
Comparing salaries near Florence, SC
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Florence, SC?
The median annual salary for a Insurance Sales Agents in Florence, SC is $78,720. This typically ranges from $45,680 for entry-level positions to $128,210 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Florence, SC is 3.4% lower than the national median of $81,510.
Is Florence, SC a lucrative place for Insurance Sales Agents?
Yes, Florence, SC offers a balanced earning potential for Insurance Sales Agents.The average salary of $78,720 is competitive within the local market, and the cost of living being at the national average ensures strong purchasing power.
Is Florence, SC a good place to live for Insurance Sales Agents?
The Cost of Living Index in Florence, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Florence, SC?
Some top paying nearby cities include Sumter, SC ($65,040) and Myrtle Beach-Conway-North Myrtle Beach, SC.
How does the Florence, SC salary compare to the national average?
The average salary for Insurance Sales Agents in Florence, SC, is $78,720, which is slightly lower than the national average of $81,510.
What is the concentration of Insurance Sales Agents in Florence, SC?
The concentration, measured by the Location Quotient, is 0.93, indicating that the presence of Insurance Sales Agents in Florence is very close to the national average.
How does the cost of living in Florence, SC affect salary perception?
With a Cost of Living Index of 100, the national average, the $78,720 salary in Florence provides purchasing power equivalent to the national average, making it a stable financial environment.
What does the workforce size suggest about job opportunities?
A local workforce of 250 Insurance Sales Agents suggests a stable market with consistent demand, though not necessarily rapid expansion.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Florence, SC area with a job density of 2.835 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 Florence, SC