Average Insurance Sales Agents Salary in Springfield, IL
Insurance Sales Agents in Springfield, IL, earn an average annual salary of $66,850. This figure is notably below the national average of $81,510, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation levels within the state capital.
Executive Summary
- Average Salary: $66,850 per year.
- Growth Trend: Salaries have shifted 11.9% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $105,340.
- Outlook: With a total local workforce of 280 Insurance Sales Agents, Springfield, IL, presents a stable, albeit not exceptionally concentrated, job market. The Location Quotient of 0.91 indicates that the concentration of these professionals is very close to the national average, suggesting a steady demand that aligns with broader industry trends rather than a specialized local boom.
Salary Overview
The average Insurance Sales Agents in Springfield, IL earns-18.0%below the national average.
$32.1
$1,286
$5,571
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Springfield, IL, is not provided, it is reasonable to assume that, mirroring national trends, salaries for Insurance Sales Agents in the area have experienced consistent growth over the past four years. This upward trajectory is typically driven by inflation, increasing demand for insurance products, and the evolving complexity of the insurance landscape.
Insurance Sales Agents Salary Distribution in Springfield, IL
Career progression for Insurance Sales Agents in Springfield, IL, is typically marked by increasing earning potential. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with extensive experience and a proven track record can command significantly higher salaries, often reaching into the upper percentiles of the salary distribution.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $34,120 | $16.4 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $50,138 | $24.1 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $52,220 | $25.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $83,563 | $40.2 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $105,340 | $50.6 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$66,850
Gross Pay
Real Wage (Purchasing Power)
$66,850
Adjusted for COL (100)
The average annual salary of $66,850 in Springfield, IL, aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal income earned by an Insurance Sales Agent in Springfield holds purchasing power equivalent to the national average, offering a balanced financial landscape for residents.
Job Market Context
280
Total Jobs
2.757
Per 1K Jobs
0.91
Location Quotient
Springfield, IL has 0.91x 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 0.91 for Insurance Sales Agents in Springfield, IL, signifies a job market that is nearly on par with the national average in terms of professional concentration. This suggests a competitive yet accessible environment where the number of available agents closely matches the demand, offering moderate opportunities for new entrants and established professionals alike.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Decatur, IL Insurance Sales Agents Salary | $64,390↓ 4% | 39 mi |
| West Central Illinois nonmetropolitan area Insurance Sales Agents Salary | $77,350↑ 16% | 53 mi |
| East Central Illinois nonmetropolitan area Insurance Sales Agents Salary | $65,930↓ 1% | 53 mi |
| Northwest Illinois nonmetropolitan area Insurance Sales Agents Salary | $58,720↓ 12% | 53 mi |
| South Illinois nonmetropolitan area Insurance Sales Agents Salary | $60,260↓ 10% | 53 mi |
Comparing salaries near Springfield, IL
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Springfield, IL?
The median annual salary for a Insurance Sales Agents in Springfield, IL is $66,850. This typically ranges from $34,120 for entry-level positions to $105,340 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, IL is 18.0% lower than the national median of $81,510.
Is Springfield, IL a lucrative place for Insurance Sales Agentss?
No, it is not exceptionally lucrative compared to the national average.The average salary of $66,850 is below the national average of $81,510, and the market concentration is only slightly below the national average.
Is Springfield, IL a good place to live for Insurance Sales Agents?
The Cost of Living Index in Springfield, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, IL?
Some top paying nearby cities include Decatur, IL ($64,390) and West Central Illinois nonmetropolitan area.
How does the cost of living in Springfield, IL affect salary expectations?
With a Cost of Living Index of 100, the national average, the $66,850 salary in Springfield, IL, offers purchasing power equivalent to the national average, making it a stable financial environment.
What is the job market like for Insurance Sales Agents in Springfield, IL?
The market is stable with a Location Quotient of 0.91, indicating a concentration of agents close to the national average, suggesting consistent demand.
Can experience significantly increase an Insurance Sales Agent's salary in Springfield, IL?
Yes, career progression from entry-level to senior roles typically leads to substantial salary increases, reflecting accumulated expertise and client portfolios.
How does Springfield, IL compare to the national average for Insurance Sales Agents?
Springfield, IL, has a lower average salary ($66,850 vs. $81,510) but a cost of living that matches the national average (100), and a job market concentration very close to the national average (0.91).
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 280 employees in the Springfield, IL area with a job density of 2.757 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 Springfield, IL