Average Insurance Sales Agents Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Insurance Sales Agents in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area are earning an impressive average annual salary of $92,530, significantly surpassing the national average of $81,510. This higher compensation is often a reflection of the region's economic activity and the specific demand for insurance expertise within its diverse industries.
Executive Summary
- Average Salary: $92,530 per year.
- Growth Trend: Salaries have shifted 32.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $160,340.
- Outlook: The Philadelphia-Camden-Wilmington metropolitan area supports a robust workforce of 8,190 Insurance Sales Agents. With a Location Quotient of 0.94, the concentration of these professionals is nearly on par with the national average, indicating a stable and consistent demand for their services within the local economy.
Salary Overview
The average Insurance Sales Agents in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns+13.5%above the national average.
$44.5
$1,779
$7,711
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that the insurance sales sector in Philadelphia has experienced steady growth over the past four years, mirroring national trends. This suggests a dynamic market where opportunities for skilled agents are likely to continue expanding, potentially leading to further salary increases.
Insurance Sales Agents Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Career progression for Insurance Sales Agents in Philadelphia is clearly reflected in salary potential. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive experience and a proven track record can command salaries well into the upper percentiles, often exceeding $100,000 annually.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $41,780 | $20.1 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $69,398 | $33.4 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $75,350 | $36.2 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $115,663 | $55.6 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $160,340 | $77.1 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$92,530
Gross Pay
Real Wage (Purchasing Power)
$92,530
Adjusted for COL (100)
The average annual salary of $92,530 in Philadelphia-Camden-Wilmington 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 region is equivalent to the national average, offering a stable financial outlook without the added pressure of higher living expenses.
Job Market Context
8,190
Total Jobs
2.856
Per 1K Jobs
0.94
Location Quotient
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD has 0.94x 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.
A Location Quotient of 0.94 suggests that the Philadelphia-Camden-Wilmington area has a slightly lower concentration of Insurance Sales Agents compared to the national average. This indicates a healthy job market where demand is present but not oversaturated, potentially offering good opportunities for new agents entering the field or for those looking to relocate.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Insurance Sales Agents Salary | $79,400↓ 14% | 28 mi |
| Vineland, NJ Insurance Sales Agents Salary | $83,840↓ 9% | 35 mi |
| Allentown-Bethlehem-Easton, PA-NJ Insurance Sales Agents Salary | $78,530↓ 15% | 47 mi |
| Reading, PA Insurance Sales Agents Salary | $79,100↓ 15% | 48 mi |
Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
The median annual salary for a Insurance Sales Agents in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $92,530. This typically ranges from $41,780 for entry-level positions to $160,340 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 13.5% higher than the national median of $81,510.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Insurance Sales Agentss?
Yes, it is a lucrative place for Insurance Sales Agents.The average salary of $92,530 significantly exceeds the national average, and the cost of living is at the national average, indicating strong earning potential relative to expenses.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Insurance Sales Agents?
The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
Some top paying nearby cities include Trenton-Princeton, NJ ($79,400) and Vineland, NJ.
How does the number of Insurance Sales Agents in Philadelphia compare nationally?
With 2.856 jobs per 1,000 workers, the density of Insurance Sales Agents in Philadelphia is close to the national average, suggesting a balanced market.
What is the total number of Insurance Sales Agents in the Philadelphia area?
The Philadelphia-Camden-Wilmington metropolitan area is home to a substantial workforce of 8,190 Insurance Sales Agents.
Does experience significantly impact an Insurance Sales Agent's salary in Philadelphia?
Yes, experience is a key driver of salary growth, with senior agents earning considerably more than those starting their careers.
Is the job market for Insurance Sales Agents in Philadelphia competitive?
With a Location Quotient of 0.94, the market is slightly less concentrated than the national average, suggesting a favorable environment for job seekers.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 8,190 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 2.856 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD