Average Insurance Sales Agents Salary in Roanoke, VA
Insurance Sales Agents in Roanoke, VA, earn an average annual salary of $58,630. This figure is notably below the national average of $81,510, suggesting that local market dynamics, industry demand, and potentially the cost of doing business in the region contribute to this compensation difference. Understanding these local factors is crucial for anyone considering a career in insurance sales within Roanoke.
Executive Summary
- Average Salary: $58,630 per year.
- Growth Trend: Salaries have shifted 13.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $95,970.
- Outlook: With a total local workforce of 540 Insurance Sales Agents, Roanoke presents a moderately sized employment pool. The Location Quotient of 1.17 indicates a slightly higher concentration of these professionals compared to the national average, suggesting a stable, albeit not booming, demand for insurance sales expertise in the area. The presence of 3.57 jobs per 1,000 workers further supports a consistent need for skilled agents.
Salary Overview
The average Insurance Sales Agents in Roanoke, VA earns-28.1%below the national average.
$28.2
$1,128
$4,886
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the insurance sales sector in Roanoke, like most markets, has experienced gradual salary growth over the past four years. Economic shifts, evolving insurance products, and inflation typically drive upward adjustments in compensation, reflecting a maturing job market that adapts to changing economic conditions and professional development.
Insurance Sales Agents Salary Distribution in Roanoke, VA
Salary progression for Insurance Sales Agents in Roanoke, VA, typically correlates with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with a proven track record and extensive client networks can command significantly higher salaries. The percentile gaps in earnings clearly signify career advancement opportunities, rewarding accumulated expertise and sales performance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $26,990 | $13 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $43,973 | $21.1 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $46,690 | $22.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $73,288 | $35.2 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $95,970 | $46.1 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$58,630
Gross Pay
Real Wage (Purchasing Power)
$58,630
Adjusted for COL (100)
The average annual salary of $58,630 in Roanoke, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, providing a stable financial foundation for residents without the added pressure of higher living expenses often associated with more expensive regions.
Job Market Context
540
Total Jobs
3.57
Per 1K Jobs
1.17
Location Quotient
With a location quotient of 1.17, Roanoke, VA has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
The Location Quotient of 1.17 for Insurance Sales Agents in Roanoke, VA, signifies a market where this profession is slightly more prevalent than the national average. This suggests a healthy, competitive environment with a solid base of industry presence, offering potential opportunities for both new entrants and experienced professionals seeking roles within established agencies or looking to build their own clienteles.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Blacksburg-Christiansburg-Radford, VA Insurance Sales Agents Salary | $65,830↑ 12% | 26 mi |
| Lynchburg, VA Insurance Sales Agents Salary | $62,780↑ 7% | 43 mi |
| Beckley, WV Insurance Sales Agents Salary | $67,060↑ 14% | 76 mi |
| Staunton-Stuarts Draft, VA Insurance Sales Agents Salary | $87,510↑ 49% | 78 mi |
| Greensboro-High Point, NC Insurance Sales Agents Salary | $88,990↑ 52% | 82 mi |
Comparing salaries near Roanoke, VA
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Roanoke, VA?
The median annual salary for a Insurance Sales Agents in Roanoke, VA is $58,630. This typically ranges from $26,990 for entry-level positions to $95,970 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Roanoke, VA is 28.1% lower than the national median of $81,510.
Is Roanoke, VA a lucrative place for Insurance Sales Agentss?
No, not compared to the national average.While the cost of living is average, the average salary for Insurance Sales Agents in Roanoke, VA ($58,630) is significantly lower than the national average ($81,510).
Is Roanoke, VA a good place to live for Insurance Sales Agents?
The Cost of Living Index in Roanoke, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Roanoke, VA?
Some top paying nearby cities include Blacksburg-Christiansburg-Radford, VA ($65,830) and Lynchburg, VA.
How does the Roanoke job market compare to the national average for Insurance Sales Agents?
Roanoke has a slightly higher concentration of Insurance Sales Agents than the national average, indicated by a Location Quotient of 1.17, suggesting a stable presence of the profession.
What is the impact of Roanoke's cost of living on an Insurance Sales Agent's salary?
With a Cost of Living Index of 100, Roanoke's expenses are on par with the national average. This means the $58,630 salary offers average purchasing power locally.
Are there many Insurance Sales Agent jobs in Roanoke, VA?
There are 3.57 Insurance Sales Agent jobs per 1,000 workers in Roanoke, indicating a consistent, though not exceptionally high, level of demand for these professionals.
How much can an experienced Insurance Sales Agent expect to earn in Roanoke, VA?
Experienced Insurance Sales Agents in Roanoke can expect to earn substantially more than the average salary, as progression is typically tied to performance and client acquisition, leading to higher percentile earnings.
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 Roanoke, VA area with a job density of 3.57 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 Roanoke, VA