Average Insurance Sales Agents Salary in Portland-South Portland, ME
Insurance Sales Agents in Portland-South Portland, ME, earn an average annual salary of $77,720. This figure is slightly below the national average of $81,510, suggesting that while the demand is present, local market dynamics or specific industry concentrations may influence compensation levels. Factors such as the regional economic climate and the specific needs of the Maine insurance market likely contribute to this pay scale.
Executive Summary
- Average Salary: $77,720 per year.
- Growth Trend: Salaries have shifted 10.8% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $123,850.
- Outlook: The Portland-South Portland, ME, area supports a local workforce of 1,000 Insurance Sales Agents, with 3.522 jobs per 1,000 workers. The Location Quotient of 1.16 indicates a slightly higher concentration of these roles compared to the national average, suggesting a stable and potentially growing demand for insurance professionals in this region. This concentration points to a robust job market that is at least on par with, if not slightly exceeding, national employment trends for this profession.
Salary Overview
The average Insurance Sales Agents in Portland-South Portland, ME earns-4.6%below the national average.
$37.4
$1,495
$6,477
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for Insurance Sales Agents in Portland-South Portland, ME, has experienced growth over the past four years, mirroring national trends. Economic expansion, evolving insurance needs, and inflation typically drive salary increases in most professional fields, and this role is unlikely to be an exception.
Insurance Sales Agents Salary Distribution in Portland-South Portland, ME
Salary progression for Insurance Sales Agents in Portland-South Portland, ME, typically scales significantly with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned professionals with a proven track record and specialized knowledge can command salaries well above the average. The percentile gaps in earnings clearly signify career progression opportunities, rewarding expertise and client acquisition success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $48,220 | $23.2 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $58,290 | $28 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $62,940 | $30.3 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $97,150 | $46.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $123,850 | $59.5 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$77,720
Gross Pay
Real Wage (Purchasing Power)
$77,720
Adjusted for COL (100)
The average annual salary of $77,720 in Portland-South Portland, ME, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers a purchasing power equivalent to the national average, making relocation financially neutral from a cost-of-living perspective. Your earnings will likely cover expenses at a rate comparable to the rest of the country.
Job Market Context
1,000
Total Jobs
3.522
Per 1K Jobs
1.16
Location Quotient
With a location quotient of 1.16, Portland-South Portland, ME has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
With a Location Quotient of 1.16, Portland-South Portland, ME, exhibits a slightly higher concentration of Insurance Sales Agents than the national average. This suggests a competitive yet accessible job market where opportunities are relatively abundant. While not a major hub, the slightly elevated presence of these professionals indicates a healthy demand and a supportive environment for those entering or advancing in the insurance sales field.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Lewiston-Auburn, ME Insurance Sales Agents Salary | $57,370↓ 26% | 29 mi |
| Central New Hampshire nonmetropolitan area Insurance Sales Agents Salary | $68,710↓ 12% | 67 mi |
| Northern New Hampshire nonmetropolitan area Insurance Sales Agents Salary | $72,210↓ 7% | 67 mi |
| Southwestern New Hampshire nonmetropolitan area Insurance Sales Agents Salary | $75,360↓ 3% | 67 mi |
| Manchester-Nashua, NH Insurance Sales Agents Salary | $75,880↓ 2% | 76 mi |
Comparing salaries near Portland-South Portland, ME
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Portland-South Portland, ME?
The median annual salary for a Insurance Sales Agents in Portland-South Portland, ME is $77,720. This typically ranges from $48,220 for entry-level positions to $123,850 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Portland-South Portland, ME is 4.6% lower than the national median of $81,510.
Is Portland-South Portland, ME a lucrative place for Insurance Sales Agentss?
Yes, it offers competitive compensation relative to the cost of living.The average salary of $77,720 is on par with the national average cost of living, providing good financial stability. The slightly higher concentration of jobs (LQ 1.16) also suggests consistent demand.
Is Portland-South Portland, ME a good place to live for Insurance Sales Agents?
The Cost of Living Index in Portland-South Portland, ME is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Portland-South Portland, ME?
Some top paying nearby cities include Lewiston-Auburn, ME ($57,370) and Central New Hampshire nonmetropolitan area.
How does the Portland-South Portland, ME salary compare to the national average?
The average salary for Insurance Sales Agents in Portland-South Portland, ME, is $77,720, which is slightly lower than the national average of $81,510.
What is the cost of living in Portland-South Portland, ME for Insurance Sales Agents?
The cost of living in Portland-South Portland, ME, is exactly at the national average, with an index of 100.
Is there high demand for Insurance Sales Agents in Portland-South Portland, ME?
Yes, the Location Quotient of 1.16 indicates a slightly higher concentration of Insurance Sales Agents than the national average, suggesting a healthy demand.
What is the total number of Insurance Sales Agents in Portland-South Portland, ME?
There are approximately 1,000 Insurance Sales Agents employed in the Portland-South Portland, ME area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,000 employees in the Portland-South Portland, ME area with a job density of 3.522 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 Portland-South Portland, ME