Average Insurance Sales Agents Salary in Lafayette, LA
Insurance Sales Agents in Lafayette, LA, earn an average annual salary of $62,210. This figure is notably below the national average of $81,510, suggesting that local market dynamics and economic factors in Lafayette play a significant role in compensation levels for this profession.
Executive Summary
- Average Salary: $62,210 per year.
- Growth Trend: Salaries have shifted 2.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $93,420.
- Outlook: With a total local workforce of 550 Insurance Sales Agents, Lafayette presents a stable, albeit not overwhelmingly large, employment landscape for this role. The Location Quotient of 1.02 indicates a concentration of these professionals that is very close to the national average, suggesting a balanced demand and supply within the local market.
Salary Overview
The average Insurance Sales Agents in Lafayette, LA earns-23.7%below the national average.
$29.9
$1,196
$5,184
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Insurance Sales Agents in Lafayette have experienced gradual growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increased demand for insurance products, and the evolving complexity of insurance offerings.
Insurance Sales Agents Salary Distribution in Lafayette, LA
Career progression for Insurance Sales Agents in Lafayette is typically marked by increasing earning potential. Entry-level positions may start closer to the lower end of the salary spectrum, while seasoned agents with proven sales records and specialized knowledge can command significantly higher salaries, reflecting the substantial percentile gaps seen in experienced roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $37,340 | $18 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $46,658 | $22.4 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $49,800 | $23.9 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $77,763 | $37.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $93,420 | $44.9 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$62,210
Gross Pay
Real Wage (Purchasing Power)
$62,210
Adjusted for COL (100)
The average annual salary of $62,210 in Lafayette, LA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of an Insurance Sales Agent's salary in Lafayette is equivalent to the national average, offering a stable financial standing relative to the cost of goods and services.
Job Market Context
550
Total Jobs
3.111
Per 1K Jobs
1.02
Location Quotient
With a location quotient of 1.02, Lafayette, LA has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
The Location Quotient of 1.02 for Insurance Sales Agents in Lafayette signifies a job market that is almost perfectly aligned with the national average in terms of concentration. This suggests that the demand for insurance sales professionals is neither exceptionally high nor low compared to other regions, indicating a steady and predictable employment environment.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Baton Rouge, LA Insurance Sales Agents Salary | $74,650↑ 20% | 56 mi |
| Southwest Louisiana nonmetropolitan area Insurance Sales Agents Salary | $59,490↓ 4% | 67 mi |
| Central Louisiana nonmetropolitan area Insurance Sales Agents Salary | $50,330↓ 19% | 67 mi |
| Northeast Louisiana nonmetropolitan area Insurance Sales Agents Salary | $54,150↓ 13% | 67 mi |
Comparing salaries near Lafayette, LA
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Lafayette, LA?
The median annual salary for a Insurance Sales Agents in Lafayette, LA is $62,210. This typically ranges from $37,340 for entry-level positions to $93,420 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lafayette, LA is 23.7% lower than the national median of $81,510.
Is Lafayette, LA a lucrative place for Insurance Sales Agents?
No, not exceptionally lucrative compared to the national average.While the average salary of $62,210 is stable with a cost of living at the national average, it falls significantly short of the national average salary of $81,510 for Insurance Sales Agents.
Is Lafayette, LA a good place to live for Insurance Sales Agents?
The Cost of Living Index in Lafayette, LA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lafayette, LA?
Some top paying nearby cities include Baton Rouge, LA ($74,650) and Southwest Louisiana nonmetropolitan area.
How does experience affect an Insurance Sales Agent's salary in Lafayette?
Experience is a key driver of salary growth for Insurance Sales Agents in Lafayette. Junior agents typically earn less, while senior agents with a strong track record and specialized expertise can significantly increase their earning potential.
What is the job outlook for Insurance Sales Agents in Lafayette, LA?
The outlook is stable, with a local workforce size and concentration closely matching national averages. This indicates consistent demand for insurance sales professionals in the region.
How does Lafayette's cost of living compare to the national average?
Lafayette, LA, has a Cost of Living Index of 100, which is exactly the national average. This means that the general cost of goods and services is comparable to the rest of the United States.
Is the insurance sales market in Lafayette saturated?
With a Location Quotient of 1.02, the market is not saturated; it closely mirrors the national concentration of Insurance Sales Agents, suggesting a balanced supply and demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 550 employees in the Lafayette, LA area with a job density of 3.111 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 Lafayette, LA