Average Insurance Sales Agents Salary in Northern Michigan nonmetropolitan area
Insurance Sales Agents in Northern Michigan's nonmetropolitan area earn an average annual salary of $67,300. This figure is notably below the national average of $81,510, reflecting regional economic factors and the specific demand dynamics within this less densely populated locale. The compensation structure is often influenced by local market conditions and the cost of doing business in nonmetropolitan settings.
Executive Summary
- Average Salary: $67,300 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $127,250.
- Outlook: The job market for Insurance Sales Agents in Northern Michigan appears stable, with a total local workforce of 390 individuals. The Location Quotient of 1.07 suggests a slightly higher concentration of these roles compared to the national average, indicating a steady, albeit not rapidly expanding, demand for insurance professionals in the region.
Salary Overview
The average Insurance Sales Agents in Northern Michigan nonmetropolitan area earns-17.4%below the national average.
$32.4
$1,294
$5,608
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Northern Michigan is not provided, it is reasonable to assume that salaries for Insurance Sales Agents have seen incremental growth over the past four years, mirroring general economic trends and inflation adjustments. This gradual increase would aim to keep compensation competitive within the local market and align with evolving industry standards.
Insurance Sales Agents Salary Distribution in Northern Michigan nonmetropolitan area
Career progression for Insurance Sales Agents in Northern Michigan typically involves a salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned agents with established client bases and a proven track record can command significantly higher earnings, often reaching into the upper percentiles of the salary range.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $38,860 | $18.7 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $50,475 | $24.3 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $58,840 | $28.3 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $84,125 | $40.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $127,250 | $61.2 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$67,300
Gross Pay
Real Wage (Purchasing Power)
$67,300
Adjusted for COL (100)
With an average annual salary of $67,300 and a Cost of Living Index of 100, the nominal income in Northern Michigan aligns precisely with the national average cost of living. This means that while the salary is lower than the national average, the purchasing power of an Insurance Sales Agent's earnings in this region is equivalent to that of their national counterparts, offering a balanced financial standing.
Job Market Context
390
Total Jobs
3.261
Per 1K Jobs
1.07
Location Quotient
With a location quotient of 1.07, Northern Michigan nonmetropolitan area has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
The Location Quotient of 1.07 indicates that Insurance Sales Agents are slightly more prevalent in Northern Michigan than the national average. This suggests a healthy, established presence of the profession, implying a competitive yet accessible market for both new entrants and experienced professionals seeking opportunities in the area.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Saginaw, MI Insurance Sales Agents Salary | $65,040↓ 3% | 30 mi |
| Bay City, MI Insurance Sales Agents Salary | $56,340↓ 16% | 37 mi |
| Lansing-East Lansing, MI Insurance Sales Agents Salary | $70,320↑ 4% | 42 mi |
| Flint, MI Insurance Sales Agents Salary | $64,220↓ 5% | 47 mi |
Comparing salaries near Northern Michigan nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Northern Michigan nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Northern Michigan nonmetropolitan area is $67,300. This typically ranges from $38,860 for entry-level positions to $127,250 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Northern Michigan nonmetropolitan area is 17.4% lower than the national median of $81,510.
Is Northern Michigan nonmetropolitan area a lucrative place for Insurance Sales Agents?
No, it is not exceptionally lucrative compared to national averages.The average salary of $67,300 is below the national average of $81,510, though the cost of living is on par with the national average.
Is Northern Michigan nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Northern Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Northern Michigan nonmetropolitan area?
Some top paying nearby cities include Saginaw, MI ($65,040) and Bay City, MI.
How does the Northern Michigan salary compare to the national average?
The average annual salary for Insurance Sales Agents in Northern Michigan is $67,300, which is lower than the national average of $81,510.
What is the Cost of Living in Northern Michigan for Insurance Sales Agents?
The Cost of Living Index in Northern Michigan is 100, which is the same as the national average, indicating that the general cost of goods and services is comparable.
How concentrated are Insurance Sales Agent jobs in Northern Michigan?
With a Location Quotient of 1.07, Insurance Sales Agents are slightly more concentrated in Northern Michigan than the national average, suggesting a stable demand.
What is the total number of Insurance Sales Agents in Northern Michigan?
There are approximately 390 Insurance Sales Agents working in the Northern Michigan nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 390 employees in the Northern Michigan nonmetropolitan area area with a job density of 3.261 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 Northern Michigan nonmetropolitan area