Average Insurance Sales Agents Salary in New York-Newark-Jersey City, NY-NJ
Insurance Sales Agents in the New York-Newark-Jersey City, NY-NJ metropolitan area command an impressive average annual salary of $110,260. This figure significantly surpasses the national average of $81,510, indicating a strong demand and higher compensation structure within this dynamic region. The elevated pay is likely influenced by the area's robust economic activity and the specialized nature of insurance sales in a major metropolitan hub.
Executive Summary
- Average Salary: $110,260 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $208,970.
- Outlook: The job market for Insurance Sales Agents in New York-Newark-Jersey City, NY-NJ, while not exhibiting hyper-concentration with a Location Quotient of 0.69, still presents a substantial opportunity given the total local workforce of 19,570. The presence of 2.09 jobs per 1,000 workers suggests a steady, albeit not overwhelmingly dense, demand for these professionals within the region's diverse economic landscape.
Salary Overview
The average Insurance Sales Agents in New York-Newark-Jersey City, NY-NJ earns+35.3%above the national average.
$53
$2,120
$9,188
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 the New York-Newark-Jersey City, NY-NJ area have experienced growth over the past four years. Economic expansion, evolving insurance needs, and inflation typically drive upward salary trends in competitive job markets, suggesting that agents have likely seen their earning potential increase.
Insurance Sales Agents Salary Distribution in New York-Newark-Jersey City, NY-NJ
Career progression for Insurance Sales Agents in New York-Newark-Jersey City, NY-NJ, is typically marked by a significant increase in earning potential. Entry-level positions may start closer to the lower end of the salary spectrum, while seasoned professionals with proven track records and specialized expertise can command salaries well above the average. The percentile gaps in salary distribution clearly signify the substantial rewards associated with gaining experience and advancing within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $45,450 | $21.9 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $82,695 | $39.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $78,130 | $37.6 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $137,825 | $66.3 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $208,970 | $100.5 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$110,260
Gross Pay
Real Wage (Purchasing Power)
$110,260
Adjusted for COL (100)
The nominal average annual salary of $110,260 for Insurance Sales Agents in New York-Newark-Jersey City, NY-NJ, is directly offset by a Cost of Living Index of 100, which is precisely the national average. This means that while the gross income is substantially higher than the national average, the purchasing power of that income locally is equivalent to the national standard, making it a fair trade-off in terms of real wages.
Job Market Context
19,570
Total Jobs
2.09
Per 1K Jobs
0.69
Location Quotient
New York-Newark-Jersey City, NY-NJ has 0.69x 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.
With a Location Quotient of 0.69, the New York-Newark-Jersey City, NY-NJ metropolitan area indicates that Insurance Sales Agents are slightly less concentrated than the national average. This suggests that while the market is stable and offers good opportunities, it may not be saturated, potentially leading to a healthier balance between job availability and the number of professionals seeking employment in this sector.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh, NY Insurance Sales Agents Salary | $86,440↓ 22% | 44 mi |
| Trenton-Princeton, NJ Insurance Sales Agents Salary | $79,400↓ 28% | 52 mi |
| Bridgeport-Stamford-Danbury, CT Insurance Sales Agents Salary | $76,920↓ 30% | 54 mi |
| New Haven, CT Insurance Sales Agents Salary | $97,050↓ 12% | 70 mi |
| Waterbury-Shelton, CT Insurance Sales Agents Salary | $106,220↓ 4% | 77 mi |
Comparing salaries near New York-Newark-Jersey City, NY-NJ
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in New York-Newark-Jersey City, NY-NJ?
The median annual salary for a Insurance Sales Agents in New York-Newark-Jersey City, NY-NJ is $110,260. This typically ranges from $45,450 for entry-level positions to $208,970 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York-Newark-Jersey City, NY-NJ is 35.3% higher than the national median of $81,510.
Is New York-Newark-Jersey City, NY-NJ a lucrative place for Insurance Sales Agentss?
Yes, it is a highly lucrative location for Insurance Sales Agents.The average salary of $110,260 is significantly higher than the national average, and the Cost of Living Index of 100 means this higher salary offers strong purchasing power.
Is New York-Newark-Jersey City, NY-NJ a good place to live for Insurance Sales Agents?
The Cost of Living Index in New York-Newark-Jersey City, NY-NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York-Newark-Jersey City, NY-NJ?
Some top paying nearby cities include Kiryas Joel-Poughkeepsie-Newburgh, NY ($86,440) and Trenton-Princeton, NJ.
How does the New York-Newark-Jersey City, NY-NJ salary compare to the national average?
The average annual salary for Insurance Sales Agents in this region is $110,260, 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 0.69, indicating that Insurance Sales Agents are present in this region at a slightly lower concentration than the national average.
Does the Cost of Living affect the value of the salary?
The Cost of Living Index is 100, matching the national average. This means the higher nominal salary translates directly into equivalent purchasing power compared to the rest of the country.
How many Insurance Sales Agents are employed in the New York-Newark-Jersey City, NY-NJ area?
There are approximately 19,570 Insurance Sales Agents employed within the local workforce of the New York-Newark-Jersey City, NY-NJ 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 19,570 employees in the New York-Newark-Jersey City, NY-NJ area with a job density of 2.09 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 New York-Newark-Jersey City, NY-NJ