Average Insurance Sales Agents Salary in Minneapolis-St. Paul-Bloomington, MN-WI
Insurance Sales Agents in the Minneapolis-St. Paul-Bloomington, MN-WI area are earning a robust average annual salary of $104,910, significantly outpacing the national average of $81,510. This elevated compensation is likely driven by a combination of strong local demand and a competitive market for skilled professionals in this metropolitan hub.
Executive Summary
- Average Salary: $104,910 per year.
- Growth Trend: Salaries have shifted 26.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $168,070.
- Outlook: With a local workforce of 6,610 Insurance Sales Agents and a Location Quotient of 1.12, the Minneapolis-St. Paul region demonstrates a healthy concentration of these professionals, suggesting a stable and potentially growing job market. The number of jobs per 1,000 workers (3.423) further indicates a solid presence and demand for insurance sales expertise within the area.
Salary Overview
The average Insurance Sales Agents in Minneapolis-St. Paul-Bloomington, MN-WI earns+28.7%above the national average.
$50.4
$2,018
$8,743
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 a thriving metropolitan area like Minneapolis-St. Paul have experienced consistent growth over the past four years, mirroring national trends of increasing compensation for skilled sales professionals. This upward trajectory is often fueled by evolving market demands and the need for specialized insurance knowledge.
Insurance Sales Agents Salary Distribution in Minneapolis-St. Paul-Bloomington, MN-WI
Career progression for Insurance Sales Agents typically sees a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with established client bases and advanced certifications can command salaries well into the upper percentiles, reflecting their accumulated expertise and proven sales performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $49,160 | $23.6 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $78,683 | $37.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $81,890 | $39.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $131,138 | $63 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $168,070 | $80.8 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$104,910
Gross Pay
Real Wage (Purchasing Power)
$104,910
Adjusted for COL (100)
The average annual salary of $104,910 in Minneapolis-St. Paul-Bloomington, MN-WI aligns perfectly with the national average Cost of Living Index of 100. This means that the higher nominal salary translates directly into strong purchasing power, allowing residents to maintain a comparable standard of living to the national average without financial strain.
Job Market Context
6,610
Total Jobs
3.423
Per 1K Jobs
1.12
Location Quotient
With a location quotient of 1.12, Minneapolis-St. Paul-Bloomington, MN-WI has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
A Location Quotient of 1.12 signifies that Insurance Sales Agents are 12% more concentrated in the Minneapolis-St. Paul-Bloomington, MN-WI area than the national average. This suggests a competitive yet robust market where demand for these professionals is slightly higher than the national benchmark, offering good opportunities for those in the field.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Northwest Minnesota nonmetropolitan area Insurance Sales Agents Salary | $68,570↓ 35% | 58 mi |
| Southeast Minnesota nonmetropolitan area Insurance Sales Agents Salary | $67,210↓ 36% | 58 mi |
| Southwest Minnesota nonmetropolitan area Insurance Sales Agents Salary | $108,140↑ 3% | 58 mi |
| Northeast Minnesota nonmetropolitan area Insurance Sales Agents Salary | $81,280↓ 23% | 58 mi |
| St. Cloud, MN Insurance Sales Agents Salary | $78,370↓ 25% | 59 mi |
Comparing salaries near Minneapolis-St. Paul-Bloomington, MN-WI
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Minneapolis-St. Paul-Bloomington, MN-WI?
The median annual salary for a Insurance Sales Agents in Minneapolis-St. Paul-Bloomington, MN-WI is $104,910. This typically ranges from $49,160 for entry-level positions to $168,070 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Minneapolis-St. Paul-Bloomington, MN-WI is 28.7% higher than the national median of $81,510.
Is Minneapolis-St. Paul-Bloomington, MN-WI a lucrative place for Insurance Sales Agentss?
Yes, it is a lucrative location for Insurance Sales Agents.The average salary of $104,910 is substantially higher than the national average, and the Cost of Living Index is at the national average, indicating strong earning potential and purchasing power.
Is Minneapolis-St. Paul-Bloomington, MN-WI a good place to live for Insurance Sales Agents?
The Cost of Living Index in Minneapolis-St. Paul-Bloomington, MN-WI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Minneapolis-St. Paul-Bloomington, MN-WI?
Some top paying nearby cities include Northwest Minnesota nonmetropolitan area ($68,570) and Southeast Minnesota nonmetropolitan area.
How does the local salary compare to the national average?
The average annual salary for Insurance Sales Agents in Minneapolis-St. Paul-Bloomington, MN-WI is $104,910, which is considerably higher than the national average of $81,510.
What is the concentration of Insurance Sales Agents in this area?
The Location Quotient is 1.12, meaning there is a 12% higher concentration of Insurance Sales Agents in Minneapolis-St. Paul-Bloomington, MN-WI compared to the national average.
Does the cost of living affect the salary's value?
No, the Cost of Living Index is 100, matching the national average. Therefore, the higher salary in Minneapolis-St. Paul directly translates to greater purchasing power.
How many Insurance Sales Agents work in the Minneapolis-St. Paul area?
There are approximately 6,610 Insurance Sales Agents employed in the Minneapolis-St. Paul-Bloomington, MN-WI 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 6,610 employees in the Minneapolis-St. Paul-Bloomington, MN-WI area with a job density of 3.423 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 Minneapolis-St. Paul-Bloomington, MN-WI