Average Insurance Sales Agents Salary in Rockford, IL
Insurance Sales Agents in Rockford, IL, earn an average annual salary of $66,070. This figure is notably below the national average of $81,510, suggesting that local market dynamics, such as demand and the concentration of agencies, play a significant role in compensation levels within this specific region.
Executive Summary
- Average Salary: $66,070 per year.
- Growth Trend: Salaries have shifted 28.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $122,690.
- Outlook: With a local workforce of 250 Insurance Sales Agents and a Location Quotient of 0.6, Rockford, IL, presents a market with slightly less concentration than the national average. This indicates a stable, albeit not exceptionally high, demand for these professionals within the area, suggesting a consistent job market for those looking to enter or advance in the field.
Salary Overview
The average Insurance Sales Agents in Rockford, IL earns-18.9%below the national average.
$31.8
$1,271
$5,506
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is generally observed that salaries for Insurance Sales Agents across the nation, including in markets like Rockford, IL, have experienced steady growth over the past four years. This trend is driven by factors such as inflation, evolving insurance products, and increasing demand for financial security planning.
Insurance Sales Agents Salary Distribution in Rockford, IL
The salary progression for Insurance Sales Agents in Rockford, IL, typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned agents with a proven track record and established client base can command salaries in the upper percentiles, reflecting their value and expertise. These percentile gaps are key indicators of career advancement opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $34,160 | $16.4 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $49,553 | $23.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $49,720 | $23.9 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $82,588 | $39.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $122,690 | $59 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$66,070
Gross Pay
Real Wage (Purchasing Power)
$66,070
Adjusted for COL (100)
The average annual salary of $66,070 in Rockford, IL, aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of an Insurance Sales Agent's income in Rockford is comparable to the national standard, offering a balanced lifestyle without significant financial strain related to everyday expenses.
Job Market Context
250
Total Jobs
1.823
Per 1K Jobs
0.6
Location Quotient
Rockford, IL has 0.60x 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 0.6 for Insurance Sales Agents in Rockford, IL, indicates that the profession is less concentrated in this area compared to the national average. This suggests that while there is a presence of these roles, the market is not saturated, potentially offering a good balance of opportunity and competition for new entrants and established professionals.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Janesville-Beloit, WI Insurance Sales Agents Salary | $81,460↑ 23% | 30 mi |
| Madison, WI Insurance Sales Agents Salary | $80,970↑ 23% | 59 mi |
| Kenosha, WI Insurance Sales Agents Salary | $89,070↑ 35% | 65 mi |
| Racine-Mount Pleasant, WI Insurance Sales Agents Salary | $79,320↑ 20% | 71 mi |
| Chicago-Naperville-Elgin, IL-IN Insurance Sales Agents Salary | $105,340↑ 59% | 78 mi |
Comparing salaries near Rockford, IL
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Rockford, IL?
The median annual salary for a Insurance Sales Agents in Rockford, IL is $66,070. This typically ranges from $34,160 for entry-level positions to $122,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Rockford, IL is 18.9% lower than the national median of $81,510.
Is Rockford, IL a lucrative place for Insurance Sales Agents?
No, Rockford, IL is not considered a particularly lucrative place for Insurance Sales Agents compared to the national average.The average salary of $66,070 is significantly lower than the national average of $81,510, despite the cost of living being at the national average.
Is Rockford, IL a good place to live for Insurance Sales Agents?
The Cost of Living Index in Rockford, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Rockford, IL?
Some top paying nearby cities include Janesville-Beloit, WI ($81,460) and Madison, WI.
How does Rockford, IL's average salary compare to the national average?
The average annual salary for Insurance Sales Agents in Rockford, IL, is $66,070, which is approximately $15,440 less than the national average of $81,510.
What is the Cost of Living in Rockford, IL?
Rockford, IL, has a Cost of Living Index of 100, which is exactly the national average, meaning the general cost of goods and services is comparable to the rest of the country.
How concentrated is the Insurance Sales Agent job market in Rockford, IL?
The job market for Insurance Sales Agents in Rockford, IL, is less concentrated than the national average, with a Location Quotient of 0.6, indicating fewer jobs per worker relative to the nation.
What does the total local workforce size suggest about job availability?
With a total local workforce of 250 Insurance Sales Agents, the market size is moderate, suggesting stable but not rapidly expanding job opportunities within Rockford, IL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Rockford, IL area with a job density of 1.823 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 Rockford, IL