Average Insurance Sales Agents Salary in Myrtle Beach-Conway-North Myrtle Beach, SC
Insurance Sales Agents in the Myrtle Beach-Conway-North Myrtle Beach, SC area earn an average annual salary of $58,900. This figure is notably below the national average of $81,510, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation levels within this region.
Executive Summary
- Average Salary: $58,900 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $98,000.
- Outlook: The Myrtle Beach-Conway-North Myrtle Beach, SC area supports a local workforce of 480 Insurance Sales Agents. With a Location Quotient of 1.1, the concentration of these professionals in the region is slightly above the national average, indicating a stable, albeit not rapidly expanding, demand for their services. The presence of 3.337 jobs per 1,000 workers further underscores a consistent need for insurance expertise in this market.
Salary Overview
The average Insurance Sales Agents in Myrtle Beach-Conway-North Myrtle Beach, SC earns-27.7%below the national average.
$28.3
$1,133
$4,908
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for the Myrtle Beach-Conway-North Myrtle Beach, SC area is not provided, it is reasonable to assume that salaries for Insurance Sales Agents have experienced gradual growth over the past four years, mirroring national trends. Economic factors and evolving insurance needs likely contribute to a steady, upward trajectory in earning potential for dedicated professionals in this field.
Insurance Sales Agents Salary Distribution in Myrtle Beach-Conway-North Myrtle Beach, SC
Salary progression for Insurance Sales Agents is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with a proven track record and specialized knowledge can command significantly higher salaries. The percentile gaps in earnings clearly signify career progression, rewarding accumulated expertise and sales success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $31,900 | $15.3 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $44,175 | $21.2 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $46,370 | $22.3 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $73,625 | $35.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $98,000 | $47.1 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$58,900
Gross Pay
Real Wage (Purchasing Power)
$58,900
Adjusted for COL (100)
The average annual salary of $58,900 in Myrtle Beach-Conway-North Myrtle Beach, SC aligns precisely with the national average Cost of Living Index of 100. This means that the nominal salary offers a purchasing power equivalent to the national average, suggesting that the cost of essential goods and services is neither a significant advantage nor a disadvantage for residents compared to the rest of the country.
Job Market Context
480
Total Jobs
3.337
Per 1K Jobs
1.1
Location Quotient
With a location quotient of 1.10, Myrtle Beach-Conway-North Myrtle Beach, SC has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
A Location Quotient of 1.1 indicates that the Myrtle Beach-Conway-North Myrtle Beach, SC area has a slightly higher concentration of Insurance Sales Agents than the national average. This suggests a competitive market where demand is present but also met by a comparable supply of professionals. While not oversaturated, agents may need to differentiate themselves to secure top positions or client bases.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Florence, SC Insurance Sales Agents Salary | $78,720↑ 34% | 61 mi |
| Wilmington, NC Insurance Sales Agents Salary | $85,240↑ 45% | 67 mi |
| Charleston-North Charleston, SC Insurance Sales Agents Salary | $86,470↑ 47% | 88 mi |
| Sumter, SC Insurance Sales Agents Salary | $65,040↑ 10% | 88 mi |
| Fayetteville, NC Insurance Sales Agents Salary | $75,520↑ 28% | 95 mi |
Comparing salaries near Myrtle Beach-Conway-North Myrtle Beach, SC
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Myrtle Beach-Conway-North Myrtle Beach, SC?
The median annual salary for a Insurance Sales Agents in Myrtle Beach-Conway-North Myrtle Beach, SC is $58,900. This typically ranges from $31,900 for entry-level positions to $98,000 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Myrtle Beach-Conway-North Myrtle Beach, SC is 27.7% lower than the national median of $81,510.
Is Myrtle Beach-Conway-North Myrtle Beach, SC a lucrative place for Insurance Sales Agentss?
No, not exceptionally lucrative compared to the national average.The average salary of $58,900 is significantly lower than the national average of $81,510. However, the cost of living is at the national average, making the purchasing power of the salary comparable.
Is Myrtle Beach-Conway-North Myrtle Beach, SC a good place to live for Insurance Sales Agents?
The Cost of Living Index in Myrtle Beach-Conway-North Myrtle Beach, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Myrtle Beach-Conway-North Myrtle Beach, SC?
Some top paying nearby cities include Florence, SC ($78,720) and Wilmington, NC.
How does the local workforce size affect job opportunities for Insurance Sales Agents in Myrtle Beach?
With 480 Insurance Sales Agents, the local workforce is substantial enough to indicate a consistent demand for insurance services, though it also suggests a degree of competition among agents.
What does a Location Quotient of 1.1 mean for Insurance Sales Agents in this area?
A Location Quotient of 1.1 signifies that there are slightly more Insurance Sales Agents per capita in Myrtle Beach-Conway-North Myrtle Beach, SC than the national average, indicating a moderately concentrated job market.
How does the number of jobs per 1,000 workers impact the job market for Insurance Sales Agents?
With 3.337 jobs per 1,000 workers, there is a steady presence of Insurance Sales Agent roles relative to the overall employment landscape, suggesting ongoing opportunities.
Should I consider the cost of living when evaluating an Insurance Sales Agent salary in Myrtle Beach?
Yes, the cost of living index of 100 means your salary will have the same purchasing power as the national average, so the $58,900 salary should be evaluated within this context.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 480 employees in the Myrtle Beach-Conway-North Myrtle Beach, SC area with a job density of 3.337 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 Myrtle Beach-Conway-North Myrtle Beach, SC