Average Insurance Sales Agents Salary in Southside Virginia nonmetropolitan area
Insurance Sales Agents in Southside Virginia nonmetropolitan area earn an average annual salary of $74,720. This figure is notably below the national average of $81,510, reflecting the unique economic dynamics and potentially lower demand for specialized sales roles in nonmetropolitan regions. The specific compensation structure in this area is influenced by local market conditions and the overall economic output of the region.
Executive Summary
- Average Salary: $74,720 per year.
- Growth Trend: Salaries have shifted 43.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $139,380.
- Outlook: With a total local workforce of 260 Insurance Sales Agents, the job market in Southside Virginia nonmetropolitan area presents a stable, albeit niche, opportunity. The Location Quotient of 0.82 indicates a slightly lower concentration of these professionals compared to the national average, suggesting a moderate level of demand that aligns with the workforce size. This suggests a consistent, rather than rapidly expanding, job market for insurance sales professionals in the area.
Salary Overview
The average Insurance Sales Agents in Southside Virginia nonmetropolitan area earns-8.3%below the national average.
$35.9
$1,437
$6,227
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Southside Virginia nonmetropolitan area is not provided, it is generally assumed that salaries for Insurance Sales Agents nationwide have seen consistent growth over the past four years, driven by inflation and increasing demand for financial services. This trend likely extends to this region, with nominal salaries experiencing incremental increases year over year, though potentially at a slower pace than in more metropolitan areas.
Insurance Sales Agents Salary Distribution in Southside Virginia nonmetropolitan area
Salary progression for Insurance Sales Agents in Southside Virginia nonmetropolitan area typically scales with experience. Entry-level positions might start closer to the lower percentiles, while seasoned agents with proven sales records and extensive client networks can command salaries in the upper percentiles. The widening gap between entry-level and senior roles signifies substantial career growth potential and increased earning capacity as professionals develop their expertise and client base.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $34,860 | $16.8 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $56,040 | $26.9 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $57,810 | $27.8 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $93,400 | $44.9 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $139,380 | $67 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$74,720
Gross Pay
Real Wage (Purchasing Power)
$74,720
Adjusted for COL (100)
The average annual salary of $74,720 in Southside Virginia nonmetropolitan area 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 standing relative to the cost of essential goods and services.
Job Market Context
260
Total Jobs
2.486
Per 1K Jobs
0.82
Location Quotient
Southside Virginia nonmetropolitan area has 0.82x 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.
The Location Quotient of 0.82 for Insurance Sales Agents in Southside Virginia nonmetropolitan area suggests that the profession is slightly less concentrated here than the national average. This indicates that while the job market is not saturated, there is a steady presence of these professionals, implying a balanced supply and demand dynamic. The market is neither overly competitive nor exceptionally abundant, offering a stable environment for those in the field.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Insurance Sales Agents Salary | $76,530↑ 2% | 25 mi |
| Richmond, VA Insurance Sales Agents Salary | $83,780↑ 12% | 41 mi |
| Staunton-Stuarts Draft, VA Insurance Sales Agents Salary | $87,510↑ 17% | 56 mi |
| Harrisonburg, VA Insurance Sales Agents Salary | $90,790↑ 22% | 60 mi |
| Lynchburg, VA Insurance Sales Agents Salary | $62,780↓ 16% | 61 mi |
Comparing salaries near Southside Virginia nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Southside Virginia nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Southside Virginia nonmetropolitan area is $74,720. This typically ranges from $34,860 for entry-level positions to $139,380 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southside Virginia nonmetropolitan area is 8.3% lower than the national median of $81,510.
Is Southside Virginia nonmetropolitan area a lucrative place for Insurance Sales Agentss?
No, it is not as lucrative as the national average.The average salary of $74,720 is below the national average of $81,510, indicating lower earning potential. However, the cost of living is on par with the national average, mitigating some of the salary disparity.
Is Southside Virginia nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Southside Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southside Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($76,530) and Richmond, VA.
How does the local salary compare to the national average?
The average annual salary for Insurance Sales Agents in Southside Virginia nonmetropolitan area is $74,720, which is lower than the national average of $81,510.
What is the concentration of Insurance Sales Agents in this area?
The Location Quotient is 0.82, meaning the concentration of Insurance Sales Agents is slightly below the national average.
How does the cost of living affect the salary?
The Cost of Living Index is 100, which is the national average. This means the $74,720 salary has the same purchasing power as the national average salary.
What is the total number of Insurance Sales Agents in this region?
There are approximately 260 Insurance Sales Agents employed in the Southside Virginia nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Southside Virginia nonmetropolitan area area with a job density of 2.486 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 Southside Virginia nonmetropolitan area