Average Insurance Sales Agents Salary in Southwest Maine nonmetropolitan area
Insurance Sales Agents in Southwest Maine's nonmetropolitan area earn an average annual salary of $63,940. This figure is notably below the national average of $81,510, suggesting that regional economic factors and market demand play a significant role in compensation within this specific locale. The lower average salary may reflect a different competitive landscape or cost structure compared to more urbanized or economically dynamic regions.
Executive Summary
- Average Salary: $63,940 per year.
- Growth Trend: Salaries have shifted 10.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $76,750.
- Outlook: With a local workforce of 230 Insurance Sales Agents, the concentration, indicated by a Location Quotient of 0.53, suggests this profession is less prevalent in Southwest Maine than the national average. While the number of jobs per 1,000 workers stands at 1.601, the lower LQ implies that demand, while present, may not be as robust or as specialized as in other areas, indicating a moderate outlook for job growth.
Salary Overview
The average Insurance Sales Agents in Southwest Maine nonmetropolitan area earns-21.6%below the national average.
$30.7
$1,230
$5,328
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Southwest Maine is not provided, it is generally assumed that salaries for Insurance Sales Agents have seen incremental growth over the past four years, mirroring national trends. This growth is typically driven by inflation, evolving market demands, and the increasing complexity of insurance products, leading to a gradual upward adjustment in compensation for experienced professionals.
Insurance Sales Agents Salary Distribution in Southwest Maine nonmetropolitan area
Salary progression for Insurance Sales Agents in Southwest Maine typically scales with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned agents with a proven track record and specialized knowledge can command significantly higher salaries. The percentile gaps in earnings clearly signify career progression, with senior agents often earning well above the average, reflecting their accumulated expertise and client base.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $37,920 | $18.2 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $47,955 | $23.1 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $58,540 | $28.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $79,925 | $38.4 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $76,750 | $36.9 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$63,940
Gross Pay
Real Wage (Purchasing Power)
$63,940
Adjusted for COL (100)
The average annual salary of $63,940 in Southwest Maine aligns precisely with the national average Cost of Living Index of 100. This means that, on average, the purchasing power of an Insurance Sales Agent's salary in this region is comparable to the national standard. While the nominal salary is lower than the national average, the equivalent cost of living suggests that the real income and standard of living may be relatively stable compared to national benchmarks.
Job Market Context
230
Total Jobs
1.601
Per 1K Jobs
0.53
Location Quotient
Southwest Maine nonmetropolitan area has 0.53x 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 0.53 indicates that Insurance Sales Agents are less concentrated in Southwest Maine's nonmetropolitan area compared to the national average. This suggests that the job market may be less saturated, potentially offering opportunities for new entrants or those looking to establish themselves. However, it also implies that the overall demand might be more limited, making it a moderately competitive market where established agents may hold a stronger position.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Bangor, ME Insurance Sales Agents Salary | $64,740↑ 1% | 31 mi |
| Lewiston-Auburn, ME Insurance Sales Agents Salary | $57,370↓ 10% | 57 mi |
| Portland-South Portland, ME Insurance Sales Agents Salary | $77,720↑ 22% | 83 mi |
Comparing salaries near Southwest Maine nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Southwest Maine nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Southwest Maine nonmetropolitan area is $63,940. This typically ranges from $37,920 for entry-level positions to $76,750 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Maine nonmetropolitan area is 21.6% lower than the national median of $81,510.
Is Southwest Maine nonmetropolitan area a lucrative place for Insurance Sales Agentss?
No, not exceptionally lucrative compared to national standards.The average salary of $63,940 is significantly lower than the national average of $81,510, despite a cost of living that matches the national average.
Is Southwest Maine nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Southwest Maine nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Maine nonmetropolitan area?
Some top paying nearby cities include Bangor, ME ($64,740) and Lewiston-Auburn, ME.
How does the local workforce size affect job prospects?
A local workforce of 230 suggests a smaller, more niche market. While this could mean less competition, it also implies fewer overall opportunities compared to larger metropolitan areas.
What does a Location Quotient of 0.53 mean for job seekers?
A Location Quotient below 1.0 indicates that the occupation is less concentrated locally than nationally. This might mean fewer specialized roles but potentially less intense competition for general positions.
How does the Cost of Living Index impact the salary?
With a Cost of Living Index of 100, the $63,940 salary has the same purchasing power as the national average salary. This means the lower nominal wage is offset by lower living expenses relative to the national average.
Are there many Insurance Sales Agent jobs per capita in this area?
With 1.601 jobs per 1,000 workers, the density of Insurance Sales Agent roles is moderate, suggesting a steady but not overwhelming presence of these positions within the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Southwest Maine nonmetropolitan area area with a job density of 1.601 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 Southwest Maine nonmetropolitan area