Average Insurance Sales Agents Salary in Southwest Virginia nonmetropolitan area
Insurance Sales Agents in the Southwest Virginia nonmetropolitan area earn an average annual salary of $59,910. This figure is notably below the national average of $81,510, reflecting regional economic factors and potentially a different market demand for insurance products. The specific economic landscape and industry concentration within this nonmetropolitan region play a significant role in shaping compensation levels for these professionals.
Executive Summary
- Average Salary: $59,910 per year.
- Growth Trend: Salaries have shifted 17.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $105,230.
- Outlook: The local job market for Insurance Sales Agents in Southwest Virginia is moderately sized, with approximately 300 professionals employed. The Location Quotient of 0.85 suggests a slightly lower concentration of these roles compared to the national average, indicating a stable but not exceptionally high demand. With 2.589 jobs per 1,000 workers, the market offers consistent opportunities, though perhaps not rapid expansion.
Salary Overview
The average Insurance Sales Agents in Southwest Virginia nonmetropolitan area earns-26.5%below the national average.
$28.8
$1,152
$4,993
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for this nonmetropolitan area isn't provided, it's reasonable to assume that Insurance Sales Agent salaries in Southwest Virginia have experienced gradual growth over the past four years, mirroring national trends. Economic recovery, evolving insurance needs, and inflation likely contribute to a steady, albeit potentially modest, upward trajectory in compensation for experienced professionals in this sector.
Insurance Sales Agents Salary Distribution in Southwest Virginia nonmetropolitan area
Salary progression for Insurance Sales Agents in Southwest Virginia typically scales with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned agents with a proven track record and established client base can command significantly higher earnings. The percentile gaps in salary data underscore this career trajectory, with senior agents potentially earning well above the average, reflecting accumulated expertise and sales success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $27,280 | $13.1 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $44,933 | $21.6 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $45,970 | $22.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $74,888 | $36 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $105,230 | $50.6 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$59,910
Gross Pay
Real Wage (Purchasing Power)
$59,910
Adjusted for COL (100)
The nominal average annual salary of $59,910 in Southwest Virginia aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that while the salary may be lower than the national average, the purchasing power of that income is equivalent to the national standard. Therefore, relocating to this area as an Insurance Sales Agent offers a cost-of-living advantage that helps offset the lower nominal wage.
Job Market Context
300
Total Jobs
2.589
Per 1K Jobs
0.85
Location Quotient
Southwest Virginia nonmetropolitan area has 0.85x 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.
With a Location Quotient of 0.85, the market for Insurance Sales Agents in Southwest Virginia is slightly less concentrated than the national average. This suggests that while the profession is present and stable, it is not a primary hub for insurance sales roles. The job market is neither oversaturated nor exceptionally scarce, offering a balanced environment for professionals seeking opportunities.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Charlottesville, VA Insurance Sales Agents Salary | $76,530↑ 28% | 25 mi |
| Richmond, VA Insurance Sales Agents Salary | $83,780↑ 40% | 41 mi |
| Staunton-Stuarts Draft, VA Insurance Sales Agents Salary | $87,510↑ 46% | 56 mi |
| Harrisonburg, VA Insurance Sales Agents Salary | $90,790↑ 52% | 60 mi |
| Lynchburg, VA Insurance Sales Agents Salary | $62,780↑ 5% | 61 mi |
Comparing salaries near Southwest Virginia nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Southwest Virginia nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Southwest Virginia nonmetropolitan area is $59,910. This typically ranges from $27,280 for entry-level positions to $105,230 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Southwest Virginia nonmetropolitan area is 26.5% lower than the national median of $81,510.
Is Southwest Virginia nonmetropolitan area a lucrative place for Insurance Sales Agentss?
No, not in terms of nominal salary.The average salary of $59,910 is significantly lower than the national average of $81,510. However, the equivalent cost of living means the purchasing power is comparable to the national average.
Is Southwest Virginia nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Southwest Virginia nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Southwest Virginia nonmetropolitan area?
Some top paying nearby cities include Charlottesville, VA ($76,530) and Richmond, VA.
How does the number of Insurance Sales Agents in Southwest Virginia compare nationally?
With a total local workforce of 300, the concentration of Insurance Sales Agents is slightly below the national average, indicated by a Location Quotient of 0.85.
What is the job availability like for Insurance Sales Agents in this region?
There are approximately 2.589 jobs per 1,000 workers, suggesting a steady but not booming demand for Insurance Sales Agents in Southwest Virginia.
Does experience significantly impact an Insurance Sales Agent's salary in Southwest Virginia?
Yes, experience is a key driver of salary growth, with senior agents earning substantially more than entry-level professionals due to accumulated expertise and client relationships.
How does the cost of living in Southwest Virginia affect the perceived value of the salary?
The cost of living index is exactly at the national average (100), meaning the $59,910 salary offers the same purchasing power as the national average salary, despite being nominally lower.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Southwest Virginia nonmetropolitan area area with a job density of 2.589 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 Virginia nonmetropolitan area