SalaryNode

Average Insurance Sales Agents Salary in Peoria, IL

Insurance Sales Agents in Peoria, IL, earn an average annual salary of $59,180. 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 specific region.

Executive Summary

  • Average Salary: $59,180 per year.
  • Growth Trend: Salaries have shifted 14.1% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $93,200.
  • Outlook: With a total local workforce of 540 Insurance Sales Agents, Peoria, IL, presents a stable, albeit not exceptionally concentrated, job market. The Location Quotient of 1.07 indicates a presence that is slightly above the national average, suggesting a consistent demand for these professionals without an overwhelming saturation of the workforce.
2024 Market Data

Salary Overview

$59,180

The average Insurance Sales Agents in Peoria, IL earns-27.4%below the national average.

BreakdownBased on 40h/week
Hourly

$28.5

Weekly

$1,138

Monthly

$4,932

Insurance Sales Agents Salary Distribution in Peoria, IL

The career trajectory for Insurance Sales Agents in Peoria, IL, typically involves salary increases with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned agents with proven sales records and specialized knowledge can command significantly higher salaries, often reflected in the upper percentiles of the salary distribution.

Experience LevelMarket PercentileAnnual WageHourly Rate
SDR / BDRLead generation, prospecting, cold calling.10% (Entry)$29,120$14
Account ExecutiveClosing deals, managing small-mid market clients.25% (Junior)$44,385$21.3
Senior AEHandling enterprise clients and complex negotiations.50% (Median)$41,420$19.9
Sales ManagerManaging a team of reps, setting quotas & strategy.75% (Senior)$73,975$35.6
VP of SalesRevenue strategy, expansion, C-suite relationships.90% (Expert)$93,200$44.8

Detailed Insurance Sales Agents Market Analysis

Relocation Context

Nominal Salary

$59,180

Gross Pay

Real Wage (Purchasing Power)

$59,180

Adjusted for COL (100)

The average annual salary of $59,180 in Peoria, IL, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of an Insurance Sales Agent's income in Peoria is equivalent to the national average, offering a stable financial standing relative to the cost of everyday expenses.

Job Market Context

540

Total Jobs

3.263

Per 1K Jobs

1.07

Location Quotient

Above Average

With a location quotient of 1.07, Peoria, IL has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.

A Location Quotient of 1.07 for Insurance Sales Agents in Peoria, IL, signifies a job market that is slightly more concentrated than the national average. This suggests a healthy demand for insurance professionals, indicating that the market is neither overly saturated nor significantly lacking in opportunities, providing a balanced environment for both job seekers and employers.

Nearby Job Markets

Nearby Cities for Insurance Sales Agents

CitySalaryDist.
Bloomington, IL Insurance Sales Agents Salary$102,040↑ 72%39 mi
West Central Illinois nonmetropolitan area Insurance Sales Agents Salary$77,350↑ 31%43 mi
East Central Illinois nonmetropolitan area Insurance Sales Agents Salary$65,930↑ 11%43 mi
Northwest Illinois nonmetropolitan area Insurance Sales Agents Salary$58,720↓ 1%43 mi
South Illinois nonmetropolitan area Insurance Sales Agents Salary$60,260↑ 2%43 mi

Comparing salaries near Peoria, IL

Hiring Insurance Sales Agentss?

Frequently Asked Questions

How much does a Insurance Sales Agents make in Peoria, IL?

The median annual salary for a Insurance Sales Agents in Peoria, IL is $59,180. This typically ranges from $29,120 for entry-level positions to $93,200 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Peoria, IL is 27.4% lower than the national median of $81,510.

Is Peoria, IL a lucrative place for Insurance Sales Agentss?

No, not significantly more lucrative than the national average.While the average salary of $59,180 is stable relative to the national cost of living, it falls considerably short of the national average salary for Insurance Sales Agents.

Is Peoria, IL a good place to live for Insurance Sales Agents?

The Cost of Living Index in Peoria, IL is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Peoria, IL?

Some top paying nearby cities include Bloomington, IL ($102,040) and West Central Illinois nonmetropolitan area.

How does the Peoria, IL salary compare to the national average?

The average salary of $59,180 in Peoria, IL, is substantially lower than the national average of $81,510 for Insurance Sales Agents.

What is the Cost of Living in Peoria, IL?

Peoria, IL, has a Cost of Living Index of 100, which is exactly the national average, indicating that expenses are comparable to the rest of the United States.

Is there high demand for Insurance Sales Agents in Peoria, IL?

With a Location Quotient of 1.07, the demand is slightly above the national average, suggesting a stable and consistent need for these professionals in the local market.

How many Insurance Sales Agents work in Peoria, IL?

There are approximately 540 Insurance Sales Agents employed in Peoria, IL, representing a modest but established segment of the local workforce.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 540 employees in the Peoria, IL area with a job density of 3.263 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Insurance Sales Agents • Data source: BLS OEWS 2024 •Jobs in Peoria, IL