Average Insurance Sales Agents Salary in Grand Rapids-Wyoming-Kentwood, MI
Insurance Sales Agents in the Grand Rapids-Wyoming-Kentwood, MI area earn an average annual salary of $68,970. This figure is notably below the national average of $81,510, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation within this region. While lower than the national benchmark, this salary is set against a backdrop of a stable cost of living.
Executive Summary
- Average Salary: $68,970 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,750.
- Outlook: The Grand Rapids-Wyoming-Kentwood, MI area supports a local workforce of 1,890 Insurance Sales Agents, with 3.363 jobs per 1,000 workers. The Location Quotient of 1.1 indicates a slightly higher concentration of these roles compared to the national average, suggesting a steady, if not rapidly expanding, demand for insurance professionals in this metropolitan area. This concentration points to a robust local market that can sustain the current workforce.
Salary Overview
The average Insurance Sales Agents in Grand Rapids-Wyoming-Kentwood, MI earns-15.4%below the national average.
$33.2
$1,326
$5,748
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Grand Rapids is not provided, it's reasonable to assume that salaries for Insurance Sales Agents have seen gradual growth over the past four years, mirroring national trends. Factors such as inflation, evolving insurance products, and increased demand for financial planning services likely contribute to upward pressure on compensation, even if local market conditions moderate the pace of increase compared to higher cost-of-living areas.
Insurance Sales Agents Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
The salary trajectory for Insurance Sales Agents in Grand Rapids-Wyoming-Kentwood, MI, typically escalates with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with a proven track record and specialized knowledge can command significantly higher salaries. The percentile gaps in earnings clearly signify career progression, rewarding accumulated expertise and sales success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $36,990 | $17.8 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $51,728 | $24.9 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $59,430 | $28.6 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $86,213 | $41.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $122,750 | $59 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$68,970
Gross Pay
Real Wage (Purchasing Power)
$68,970
Adjusted for COL (100)
With an average annual salary of $68,970 and a Cost of Living Index at the national average of 100, the nominal income in Grand Rapids-Wyoming-Kentwood, MI, offers purchasing power that aligns with the rest of the country. This means that while the salary is below the national average, the cost of essential goods and services is also at the national average, providing a balanced financial landscape for residents.
Job Market Context
1,890
Total Jobs
3.363
Per 1K Jobs
1.1
Location Quotient
With a location quotient of 1.10, Grand Rapids-Wyoming-Kentwood, MI has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
The Location Quotient of 1.1 for Insurance Sales Agents in Grand Rapids-Wyoming-Kentwood, MI, indicates a market that is slightly more concentrated than the national average. This suggests that the demand for these professionals is robust and perhaps slightly outpaces the national average in terms of job availability relative to the overall workforce. While not an exceptionally high concentration, it points to a competitive yet stable job market for insurance sales roles.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Muskegon-Norton Shores, MI Insurance Sales Agents Salary | $57,000↓ 17% | 35 mi |
| Kalamazoo-Portage, MI Insurance Sales Agents Salary | $64,820↓ 6% | 48 mi |
| Battle Creek, MI Insurance Sales Agents Salary | $59,760↓ 13% | 51 mi |
| Lansing-East Lansing, MI Insurance Sales Agents Salary | $70,320↑ 2% | 58 mi |
| Mid Michigan nonmetropolitan area Insurance Sales Agents Salary | $61,050↓ 11% | 62 mi |
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a Insurance Sales Agents in Grand Rapids-Wyoming-Kentwood, MI is $68,970. This typically ranges from $36,990 for entry-level positions to $122,750 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 15.4% lower than the national median of $81,510.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for Insurance Sales Agentss?
No, but it offers stability.The average salary of $68,970 is below the national average, but the cost of living is also at the national average, providing balanced purchasing power. The slightly higher concentration of jobs suggests steady demand.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for Insurance Sales Agents?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Muskegon-Norton Shores, MI ($57,000) and Kalamazoo-Portage, MI.
How does the Grand Rapids salary compare to the national average?
The average salary for Insurance Sales Agents in Grand Rapids-Wyoming-Kentwood, MI is $68,970, which is approximately $12,540 less than the national average of $81,510.
What is the concentration of Insurance Sales Agents in Grand Rapids?
The Location Quotient is 1.1, meaning there is a slightly higher concentration of Insurance Sales Agents in Grand Rapids-Wyoming-Kentwood, MI compared to the national average.
How does the cost of living in Grand Rapids affect the salary?
The Cost of Living Index is 100, which is the national average. This means the $68,970 salary has purchasing power equivalent to the national average, despite being below the national salary benchmark.
What is the total number of Insurance Sales Agents in the Grand Rapids area?
There are approximately 1,890 Insurance Sales Agents employed in the Grand Rapids-Wyoming-Kentwood, MI metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,890 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 3.363 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 Grand Rapids-Wyoming-Kentwood, MI