Average Insurance Sales Agents Salary in Palm Bay-Melbourne-Titusville, FL
Insurance Sales Agents in the Palm Bay-Melbourne-Titusville, FL area earn an average annual salary of $78,640. This figure is slightly below the national average of $81,510. Local market dynamics, including demand and the concentration of industry professionals, often influence compensation levels, leading to this localized pay rate.
Executive Summary
- Average Salary: $78,640 per year.
- Growth Trend: Salaries have shifted 24.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $119,990.
- Outlook: With a total local workforce of 580 Insurance Sales Agents, the Palm Bay-Melbourne-Titusville area presents a moderately sized employment landscape for this profession. The Location Quotient of 0.79 suggests a slightly lower concentration of these roles compared to the national average, indicating a stable but not overly saturated market.
Salary Overview
The average Insurance Sales Agents in Palm Bay-Melbourne-Titusville, FL earns-3.5%below the national average.
$37.8
$1,512
$6,553
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for this precise region isn't provided, it's reasonable to assume that salaries for Insurance Sales Agents in Palm Bay-Melbourne-Titusville have experienced growth over the past four years, mirroring national trends. Factors such as inflation, evolving insurance products, and increased demand for financial planning services likely contribute to upward salary adjustments.
Insurance Sales Agents Salary Distribution in Palm Bay-Melbourne-Titusville, FL
Career progression for Insurance Sales Agents typically correlates with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with a proven track record and specialized knowledge can command salaries in the upper percentiles. The salary distribution in Palm Bay-Melbourne-Titusville likely reflects this, with significant gaps between junior and senior roles indicating substantial earning potential for experienced agents.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $39,790 | $19.1 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $58,980 | $28.4 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $59,030 | $28.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $98,300 | $47.3 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $119,990 | $57.7 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$78,640
Gross Pay
Real Wage (Purchasing Power)
$78,640
Adjusted for COL (100)
The average annual salary of $78,640 in Palm Bay-Melbourne-Titusville aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Insurance Sales Agent's salary in this area is comparable to the national standard, offering a stable financial environment without significant cost-of-living pressures.
Job Market Context
580
Total Jobs
2.401
Per 1K Jobs
0.79
Location Quotient
Palm Bay-Melbourne-Titusville, FL has 0.79x 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 0.79 for Insurance Sales Agents in Palm Bay-Melbourne-Titusville indicates that the area has a slightly lower concentration of these professionals relative to the national average. This suggests that while the job market is present and stable, it may offer fewer specialized opportunities or a less competitive environment compared to national hubs for this industry.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Sebastian-Vero Beach-West Vero Corridor, FL Insurance Sales Agents Salary | $76,630↓ 3% | 17 mi |
| Port St. Lucie, FL Insurance Sales Agents Salary | $77,240↓ 2% | 50 mi |
| Sebring, FL Insurance Sales Agents Salary | $80,680↑ 3% | 59 mi |
| Orlando-Kissimmee-Sanford, FL Insurance Sales Agents Salary | $71,090↓ 10% | 59 mi |
| North Florida nonmetropolitan area Insurance Sales Agents Salary | $76,580↓ 3% | 64 mi |
Comparing salaries near Palm Bay-Melbourne-Titusville, FL
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Palm Bay-Melbourne-Titusville, FL?
The median annual salary for a Insurance Sales Agents in Palm Bay-Melbourne-Titusville, FL is $78,640. This typically ranges from $39,790 for entry-level positions to $119,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Palm Bay-Melbourne-Titusville, FL is 3.5% lower than the national median of $81,510.
Is Palm Bay-Melbourne-Titusville, FL a lucrative place for Insurance Sales Agentss?
No, not significantly more lucrative than the national average.The average salary of $78,640 is slightly below the national average, and the cost of living is exactly at the national average, offering no distinct financial advantage.
Is Palm Bay-Melbourne-Titusville, FL a good place to live for Insurance Sales Agents?
The Cost of Living Index in Palm Bay-Melbourne-Titusville, FL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Palm Bay-Melbourne-Titusville, FL?
Some top paying nearby cities include Sebastian-Vero Beach-West Vero Corridor, FL ($76,630) and Port St. Lucie, FL.
How does the local workforce size affect job opportunities?
A local workforce of 580 Insurance Sales Agents suggests a moderate job market. While not a massive hub, it indicates consistent demand and a stable number of available positions for professionals in this field.
What does a Location Quotient of 0.79 mean for job seekers?
A Location Quotient of 0.79 implies that Insurance Sales Agents are slightly less concentrated in Palm Bay-Melbourne-Titusville compared to the national average. This could mean fewer specialized roles but potentially less intense competition for general positions.
How does the cost of living impact the salary?
With a Cost of Living Index of 100, the $78,640 salary in Palm Bay-Melbourne-Titusville offers purchasing power equivalent to the national average. This means your earnings will stretch similarly to what they would in a typical U.S. city.
Are there many Insurance Sales Agent jobs per 1,000 workers in this area?
The figure of 2.401 jobs per 1,000 workers indicates a steady presence of Insurance Sales Agent roles within the local economy, reflecting consistent demand for these services.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 580 employees in the Palm Bay-Melbourne-Titusville, FL area with a job density of 2.401 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 Palm Bay-Melbourne-Titusville, FL