Average Insurance Sales Agents Salary in Monroe, LA
Insurance Sales Agents in Monroe, LA, earn an average annual salary of $53,040. This figure is notably lower than the national average of $81,510, reflecting regional economic factors and the specific demand dynamics within the Monroe labor market. Localized compensation trends are often influenced by the cost of doing business and the overall economic health of a specific geographic area.
Executive Summary
- Average Salary: $53,040 per year.
- Growth Trend: Salaries have shifted 9.8% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $74,700.
- Outlook: With a total local workforce of 200 Insurance Sales Agents and a Location Quotient of 0.77, the job market in Monroe, LA, indicates a slightly lower concentration of these professionals compared to the national average. While not indicating a shortage, this suggests a stable, albeit not rapidly expanding, demand for skilled insurance sales talent within the region.
Salary Overview
The average Insurance Sales Agents in Monroe, LA earns-34.9%below the national average.
$25.5
$1,020
$4,420
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Monroe, LA is not provided, it is generally observed that salaries for Insurance Sales Agents across the United States have seen consistent, modest growth over the past four years. This trend is typically driven by inflation, increased demand for insurance products, and the evolving complexity of insurance offerings, leading to upward pressure on compensation.
Insurance Sales Agents Salary Distribution in Monroe, LA
The career trajectory for Insurance Sales Agents in Monroe, LA, typically involves a significant salary increase 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 advanced sales skills can command salaries well above the average. The percentile gaps in earnings clearly signify the substantial rewards associated with career progression and expertise in this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $28,900 | $13.9 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $39,780 | $19.1 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $46,840 | $22.5 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $66,300 | $31.9 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $74,700 | $35.9 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$53,040
Gross Pay
Real Wage (Purchasing Power)
$53,040
Adjusted for COL (100)
The average annual salary of $53,040 in Monroe, LA, aligns precisely with the national average Cost of Living Index of 100. This means that the nominal income earned by an Insurance Sales Agent in Monroe has the same purchasing power as the national average, indicating a balanced economic environment where local wages effectively meet the general cost of goods and services.
Job Market Context
200
Total Jobs
2.341
Per 1K Jobs
0.77
Location Quotient
Monroe, LA has 0.77x 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 0.77 for Insurance Sales Agents in Monroe, LA, suggests that the profession is slightly underrepresented in the local job market compared to national benchmarks. This indicates a moderately competitive environment, where opportunities exist but the sheer volume of available agents is less dense than in more concentrated national hubs.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Alexandria, LA Insurance Sales Agents Salary | $54,740↑ 3% | 88 mi |
| Southwest Louisiana nonmetropolitan area Insurance Sales Agents Salary | $59,490↑ 12% | 94 mi |
| Central Louisiana nonmetropolitan area Insurance Sales Agents Salary | $50,330↓ 5% | 94 mi |
| Northeast Louisiana nonmetropolitan area Insurance Sales Agents Salary | $54,150↑ 2% | 94 mi |
Comparing salaries near Monroe, LA
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Monroe, LA?
The median annual salary for a Insurance Sales Agents in Monroe, LA is $53,040. This typically ranges from $28,900 for entry-level positions to $74,700 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Monroe, LA is 34.9% lower than the national median of $81,510.
Is Monroe, LA a lucrative place for Insurance Sales Agents?
No, not particularly lucrative compared to the national average.The average salary of $53,040 is significantly below the national average of $81,510, although the cost of living is on par with the national average.
Is Monroe, LA a good place to live for Insurance Sales Agents?
The Cost of Living Index in Monroe, LA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Monroe, LA?
Some top paying nearby cities include Alexandria, LA ($54,740) and Southwest Louisiana nonmetropolitan area.
How does the number of Insurance Sales Agents in Monroe compare nationally?
Monroe, LA has 2.341 Insurance Sales Agents per 1,000 workers, which is slightly below the national average, indicating a moderate presence of the profession.
What is the impact of the Location Quotient on job opportunities?
A Location Quotient of 0.77 suggests that Insurance Sales Agents are slightly less concentrated in Monroe than nationally, which could imply a stable but not overly saturated job market.
Does experience significantly affect an Insurance Sales Agent's salary in Monroe?
Yes, experience is a key driver of salary growth for Insurance Sales Agents, with senior roles commanding substantially higher compensation than entry-level positions.
How does Monroe's cost of living compare to other cities?
Monroe, LA has a Cost of Living Index of 100, which is exactly the national average, meaning the purchasing power of the local salary is comparable to the national standard.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Monroe, LA area with a job density of 2.341 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 Monroe, LA