Average Insurance Sales Agents Salary in Mid Michigan nonmetropolitan area
Insurance Sales Agents in the Mid Michigan nonmetropolitan area earn an average annual salary of $61,050. 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 this profession.
Executive Summary
- Average Salary: $61,050 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,520.
- Outlook: With a local workforce of 630 Insurance Sales Agents, the Mid Michigan nonmetropolitan area demonstrates a stable presence in this sector. The Location Quotient of 1.35 indicates a higher concentration of these professionals compared to the national average, suggesting a localized demand or a strong established network within the region. This concentration points to a potentially robust job market for those seeking or currently employed in insurance sales roles within this area.
Salary Overview
The average Insurance Sales Agents in Mid Michigan nonmetropolitan area earns-25.1%below the national average.
$29.4
$1,174
$5,088
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 Mid Michigan have experienced gradual growth over the past four years, mirroring general economic trends and inflation. This growth would likely be influenced by factors such as increasing insurance needs within the community, evolving sales strategies, and the overall economic health of the region.
Insurance Sales Agents Salary Distribution in Mid Michigan nonmetropolitan area
Salary progression for Insurance Sales Agents in Mid Michigan typically scales with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with a proven track record and established client base can command significantly higher earnings. The percentile gaps in salary data serve as a clear indicator of this career trajectory, showcasing the financial rewards of advancing expertise and performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $30,190 | $14.5 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $45,788 | $22 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $48,670 | $23.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $76,313 | $36.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $130,520 | $62.8 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$61,050
Gross Pay
Real Wage (Purchasing Power)
$61,050
Adjusted for COL (100)
The average annual salary of $61,050 in Mid Michigan 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. While the nominal salary is lower than the national average, the stable cost of living suggests that the take-home pay offers comparable value in terms of daily expenses and lifestyle.
Job Market Context
630
Total Jobs
4.112
Per 1K Jobs
1.35
Location Quotient
With a location quotient of 1.35, Mid Michigan nonmetropolitan area has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
The Location Quotient of 1.35 for Insurance Sales Agents in the Mid Michigan nonmetropolitan area signifies a market where this profession is more concentrated than the national average. This suggests a potentially competitive environment, but also indicates a strong presence and established demand for insurance sales expertise within the region. Professionals in this area benefit from a market that values their skills, potentially leading to more opportunities and a specialized local industry.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Saginaw, MI Insurance Sales Agents Salary | $65,040↑ 7% | 30 mi |
| Bay City, MI Insurance Sales Agents Salary | $56,340↓ 8% | 37 mi |
| Lansing-East Lansing, MI Insurance Sales Agents Salary | $70,320↑ 15% | 42 mi |
| Flint, MI Insurance Sales Agents Salary | $64,220↑ 5% | 47 mi |
Comparing salaries near Mid Michigan nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Mid Michigan nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Mid Michigan nonmetropolitan area is $61,050. This typically ranges from $30,190 for entry-level positions to $130,520 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mid Michigan nonmetropolitan area is 25.1% lower than the national median of $81,510.
Is Mid Michigan nonmetropolitan area a lucrative place for Insurance Sales Agents?
No, but it offers comparable purchasing power.The average salary of $61,050 is below the national average, but the cost of living is also at the national average, meaning the salary's purchasing power is equivalent.
Is Mid Michigan nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Mid Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Mid Michigan nonmetropolitan area?
Some top paying nearby cities include Saginaw, MI ($65,040) and Bay City, MI.
How does the local workforce size affect job opportunities?
A local workforce of 630 indicates a substantial, established presence of Insurance Sales Agents, suggesting a consistent demand and a network of potential employers and clients within the region.
What does a Location Quotient of 1.35 mean for job seekers?
A Location Quotient above 1.0, like 1.35, means Insurance Sales Agents are more concentrated in Mid Michigan than nationally, implying a specialized market with potentially more targeted opportunities.
How does the cost of living impact the $61,050 salary?
With a Cost of Living Index of 100, the $61,050 salary has the same purchasing power as the national average salary, making it relatively stable for residents.
Are there many Insurance Sales Agent jobs per 1,000 workers in Mid Michigan?
With 4.112 jobs per 1,000 workers, there is a solid representation of Insurance Sales Agent roles relative to the overall workforce, indicating steady employment prospects.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 630 employees in the Mid Michigan nonmetropolitan area area with a job density of 4.112 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 Mid Michigan nonmetropolitan area