Average Insurance Sales Agents Salary in Southeast Minnesota nonmetropolitan area
Insurance Sales Agents in the Southeast Minnesota nonmetropolitan area earn an average annual salary of $67,210. This figure is notably below the national average of $81,510, reflecting regional economic factors and potentially a different market dynamic. The specific compensation structure in this area is influenced by local demand, cost of doing business, and the overall economic landscape of nonmetropolitan regions.
Executive Summary
- Average Salary: $67,210 per year.
- Growth Trend: Salaries have shifted 41.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $95,490.
- Outlook: With a total local workforce of 220 Insurance Sales Agents, the market in Southeast Minnesota nonmetropolitan area presents a modest employment base. The Location Quotient of 0.48 indicates that this profession is less concentrated here compared to the national average, suggesting a potentially less saturated but also less robust demand for these roles within the region.
Salary Overview
The average Insurance Sales Agents in Southeast Minnesota nonmetropolitan area earns-17.5%below the national average.
$32.3
$1,293
$5,601
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area is not provided, it's reasonable to assume that salaries for Insurance Sales Agents in Southeast Minnesota have experienced gradual growth over the past four years, mirroring national trends. Economic recovery and evolving insurance needs likely contribute to a steady, albeit potentially modest, increase in earning potential for professionals in this field.
Insurance Sales Agents Salary Distribution in Southeast Minnesota nonmetropolitan area
Salary progression for Insurance Sales Agents in Southeast Minnesota nonmetropolitan area typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and advanced sales skills can command salaries in the higher percentiles. The gap between entry-level and senior-level earnings signifies clear career advancement opportunities and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $47,480 | $22.8 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $50,408 | $24.2 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $59,370 | $28.5 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $84,013 | $40.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $95,490 | $45.9 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$67,210
Gross Pay
Real Wage (Purchasing Power)
$67,210
Adjusted for COL (100)
The average annual salary of $67,210 in Southeast Minnesota nonmetropolitan area aligns perfectly with the national 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, indicating a balanced economic environment where income effectively meets living expenses.
Job Market Context
220
Total Jobs
1.458
Per 1K Jobs
0.48
Location Quotient
At 0.48x, Southeast Minnesota nonmetropolitan area has a notably lower concentration of Insurance Sales Agents jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient of 0.48 for Insurance Sales Agents in Southeast Minnesota nonmetropolitan area signifies a lower concentration of these professionals compared to the national average. This suggests that the job market may be less competitive, offering potential opportunities for those looking to enter or advance in the field, though it also implies a smaller overall demand relative to national benchmarks.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| St. Cloud, MN Insurance Sales Agents Salary | $78,370↑ 17% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Insurance Sales Agents Salary | $104,910↑ 56% | 58 mi |
Comparing salaries near Southeast Minnesota nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Southeast Minnesota nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Southeast Minnesota nonmetropolitan area is $67,210. This typically ranges from $47,480 for entry-level positions to $95,490 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southeast Minnesota nonmetropolitan area is 17.5% lower than the national median of $81,510.
Is Southeast Minnesota nonmetropolitan area a lucrative place for Insurance Sales Agentss?
No, it is not as lucrative as the national average.The average salary of $67,210 is significantly lower than the national average of $81,510. However, the cost of living is also at the national average, making the effective purchasing power comparable.
Is Southeast Minnesota nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Southeast Minnesota nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southeast Minnesota nonmetropolitan area?
Some top paying nearby cities include St. Cloud, MN ($78,370) and Minneapolis-St. Paul-Bloomington, MN-WI.
How does the job market compare to the national average?
The job market in Southeast Minnesota nonmetropolitan area is less concentrated, with a Location Quotient of 0.48, indicating fewer Insurance Sales Agents per capita than the national average.
What is the average salary for an Insurance Sales Agent in this region?
The average annual salary for an Insurance Sales Agent in the Southeast Minnesota nonmetropolitan area is $67,210.
How does the cost of living affect the salary?
The cost of living in Southeast Minnesota nonmetropolitan area is at the national average (100), meaning the $67,210 salary has equivalent purchasing power to the national average salary.
Are there many job openings for Insurance Sales Agents in this area?
With 1.458 jobs per 1,000 workers and a total workforce of 220, the number of openings is moderate, reflecting a less dense market compared to national levels.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 220 employees in the Southeast Minnesota nonmetropolitan area area with a job density of 1.458 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 Southeast Minnesota nonmetropolitan area