Average Insurance Sales Agents Salary in Lexington-Fayette, KY
Insurance Sales Agents in Lexington-Fayette, KY, earn an impressive average annual salary of $88,840, surpassing the national average of $81,510. This elevated compensation reflects the specific economic dynamics and demand within the Lexington-Fayette region, which influences pay rates for specialized roles.
Executive Summary
- Average Salary: $88,840 per year.
- Growth Trend: Salaries have shifted 42.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $166,330.
- Outlook: With a local workforce of 740 Insurance Sales Agents and a Location Quotient of 0.86, the job market in Lexington-Fayette, KY, indicates a stable, albeit slightly below national concentration, demand for these professionals. The presence of a substantial local workforce suggests a mature market with ongoing opportunities for skilled agents.
Salary Overview
The average Insurance Sales Agents in Lexington-Fayette, KY earns+9.0%above the national average.
$42.7
$1,708
$7,403
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Sales Agents in Lexington-Fayette, KY, have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by inflation, increasing demand for insurance products, and evolving market conditions.
Insurance Sales Agents Salary Distribution in Lexington-Fayette, KY
Career progression for Insurance Sales Agents in Lexington-Fayette, KY, is clearly reflected in salary differentials. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with proven track records and specialized expertise can command salaries significantly higher, reaching into the upper percentiles and demonstrating substantial earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $30,280 | $14.6 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $66,630 | $32 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $60,520 | $29.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $111,050 | $53.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $166,330 | $80 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$88,840
Gross Pay
Real Wage (Purchasing Power)
$88,840
Adjusted for COL (100)
The average annual salary of $88,840 in Lexington-Fayette, KY, is highly competitive given the local Cost of Living Index is exactly at the national average of 100. This means that the purchasing power of an Insurance Sales Agent's salary in this area is equivalent to the national standard, making it an economically stable location for professionals.
Job Market Context
740
Total Jobs
2.624
Per 1K Jobs
0.86
Location Quotient
Lexington-Fayette, KY has 0.86x 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 0.86 for Insurance Sales Agents in Lexington-Fayette, KY, suggests that the concentration of these roles is slightly lower than the national average. This implies a moderately competitive market where demand is present but not overwhelmingly concentrated, offering a balanced environment for job seekers and employers.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Central Kentucky nonmetropolitan area Insurance Sales Agents Salary | $48,530↓ 45% | 28 mi |
| South Central Kentucky nonmetropolitan area Insurance Sales Agents Salary | $60,760↓ 32% | 28 mi |
| West Kentucky nonmetropolitan area Insurance Sales Agents Salary | $50,240↓ 43% | 28 mi |
| Louisville/Jefferson County, KY-IN Insurance Sales Agents Salary | $105,740↑ 19% | 72 mi |
Comparing salaries near Lexington-Fayette, KY
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Lexington-Fayette, KY?
The median annual salary for a Insurance Sales Agents in Lexington-Fayette, KY is $88,840. This typically ranges from $30,280 for entry-level positions to $166,330 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lexington-Fayette, KY is 9.0% higher than the national median of $81,510.
Is Lexington-Fayette, KY a lucrative place for Insurance Sales Agentss?
Yes, it is a lucrative place for Insurance Sales Agents.The average salary of $88,840 significantly exceeds the national average, and the cost of living is on par with the national index, indicating strong earning potential.
Is Lexington-Fayette, KY a good place to live for Insurance Sales Agents?
The Cost of Living Index in Lexington-Fayette, KY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lexington-Fayette, KY?
Some top paying nearby cities include Central Kentucky nonmetropolitan area ($48,530) and South Central Kentucky nonmetropolitan area.
How does the Lexington-Fayette, KY salary compare to the national average?
The average annual salary for Insurance Sales Agents in Lexington-Fayette, KY, is $88,840, which is higher than the national average of $81,510.
What is the concentration of Insurance Sales Agents in Lexington-Fayette, KY?
The concentration, measured by the Location Quotient, is 0.86, indicating a slightly lower presence of Insurance Sales Agents compared to the national average.
How does the cost of living affect the salary in Lexington-Fayette, KY?
The cost of living in Lexington-Fayette, KY, is 100, which is the national average. This means the $88,840 salary has the same purchasing power as the national average salary.
What is the total workforce of Insurance Sales Agents in Lexington-Fayette, KY?
There are approximately 740 Insurance Sales Agents employed in the Lexington-Fayette, KY area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 740 employees in the Lexington-Fayette, KY area with a job density of 2.624 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 Lexington-Fayette, KY