Average Insurance Sales Agents Salary in Montgomery, AL
Insurance Sales Agents in Montgomery, AL, command an impressive average annual salary of $92,480, significantly surpassing the national average of $81,510. This elevated compensation in Montgomery is influenced by a combination of local market dynamics and the specific demand for insurance expertise within the state's economic landscape.
Executive Summary
- Average Salary: $92,480 per year.
- Growth Trend: Salaries have shifted 34.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $211,530.
- Outlook: With a local workforce of 360 Insurance Sales Agents, Montgomery presents a stable, albeit not hyper-concentrated, job market. The Location Quotient of 0.73 indicates a slightly lower concentration compared to the national average, suggesting that while opportunities exist, the field is not oversaturated, offering a balanced environment for professionals.
Salary Overview
The average Insurance Sales Agents in Montgomery, AL earns+13.5%above the national average.
$44.5
$1,778
$7,707
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Montgomery is not provided, it is reasonable to assume that salaries for Insurance Sales Agents have experienced steady growth over the past four years, mirroring national trends. Factors such as evolving insurance products, increased regulatory complexity, and a growing awareness of the need for financial protection likely contribute to this upward salary trajectory.
Insurance Sales Agents Salary Distribution in Montgomery, AL
Career progression for Insurance Sales Agents in Montgomery typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with established client bases and specialized knowledge can command salaries well above the average. The percentile gaps in earnings clearly signify the substantial rewards associated with career advancement and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $36,090 | $17.4 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $69,360 | $33.3 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $60,780 | $29.2 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $115,600 | $55.6 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $211,530 | $101.7 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$92,480
Gross Pay
Real Wage (Purchasing Power)
$92,480
Adjusted for COL (100)
The average annual salary of $92,480 in Montgomery aligns perfectly with the local Cost of Living Index of 100, which is the national benchmark. This means that the purchasing power of an Insurance Sales Agent's salary in Montgomery is equivalent to the national average, offering a stable financial footing for residents without the added pressure of higher living expenses.
Job Market Context
360
Total Jobs
2.21
Per 1K Jobs
0.73
Location Quotient
Montgomery, AL has 0.73x 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 0.73 for Insurance Sales Agents in Montgomery suggests a market that is slightly less concentrated than the national average. This indicates that while the profession is present and valued, it may not be as dominant a sector as in other regions, potentially offering a less competitive landscape for new entrants and established agents alike.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Northeast Alabama nonmetropolitan area Insurance Sales Agents Salary | $102,950↑ 11% | 44 mi |
| Southeast Alabama nonmetropolitan area Insurance Sales Agents Salary | $77,390↓ 16% | 44 mi |
| Northwest Alabama nonmetropolitan area Insurance Sales Agents Salary | $69,470↓ 25% | 44 mi |
| Southwest Alabama nonmetropolitan area Insurance Sales Agents Salary | $72,100↓ 22% | 44 mi |
| Auburn-Opelika, AL Insurance Sales Agents Salary | $72,940↓ 21% | 49 mi |
Comparing salaries near Montgomery, AL
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Montgomery, AL?
The median annual salary for a Insurance Sales Agents in Montgomery, AL is $92,480. This typically ranges from $36,090 for entry-level positions to $211,530 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Montgomery, AL is 13.5% higher than the national median of $81,510.
Is Montgomery, AL a lucrative place for Insurance Sales Agentss?
Yes, Montgomery, AL offers a lucrative environment for Insurance Sales Agents.The average salary of $92,480 significantly exceeds the national average, and the cost of living is on par with the national index, enhancing the real value of earnings.
Is Montgomery, AL a good place to live for Insurance Sales Agents?
The Cost of Living Index in Montgomery, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Montgomery, AL?
Some top paying nearby cities include Northeast Alabama nonmetropolitan area ($102,950) and Southeast Alabama nonmetropolitan area.
How does Montgomery's average salary compare to the national average?
Insurance Sales Agents in Montgomery earn an average of $92,480 annually, which is notably higher than the national average of $81,510.
What is the Cost of Living in Montgomery, AL?
Montgomery's Cost of Living Index is 100, which is exactly the national average, meaning expenses are neither higher nor lower than the typical US city.
How many Insurance Sales Agents are there in Montgomery?
There are approximately 360 Insurance Sales Agents employed in Montgomery, AL, representing 2.21 jobs per 1,000 workers.
Is the job market for Insurance Sales Agents in Montgomery competitive?
With a Location Quotient of 0.73, the market is slightly less concentrated than the national average, suggesting a potentially less competitive environment for professionals in this field.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 360 employees in the Montgomery, AL area with a job density of 2.21 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 Montgomery, AL