Average Insurance Sales Agents Salary in Springfield, MA
Insurance Sales Agents in Springfield, MA, command an impressive average annual salary of $91,030, significantly surpassing the national average of $81,510. This elevated compensation is likely influenced by a combination of local market demand and the specific economic landscape of the region, making Springfield a notable hub for this profession.
Executive Summary
- Average Salary: $91,030 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $157,290.
- Outlook: With a local workforce of 690 Insurance Sales Agents and a Location Quotient of 1.14, Springfield, MA, demonstrates a healthy concentration of these professionals relative to the national average. This suggests a stable and potentially growing demand for insurance sales expertise within the area, indicating a robust job market for those in this field.
Salary Overview
The average Insurance Sales Agents in Springfield, MA earns+11.7%above the national average.
$43.8
$1,751
$7,586
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for Insurance Sales Agents in Springfield, MA, has experienced consistent growth over the past four years, mirroring national trends. Factors such as inflation, evolving insurance markets, and increased demand for financial protection products likely contribute to this upward salary trajectory.
Insurance Sales Agents Salary Distribution in Springfield, MA
The career path for an Insurance Sales Agent typically involves significant salary progression based on experience and performance. Entry-level positions may start at a lower percentile, but with accumulated expertise, client portfolios, and successful sales records, agents can advance to senior roles commanding salaries in the higher percentiles, reflecting their value and contribution.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $47,910 | $23 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $68,273 | $32.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $72,280 | $34.8 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $113,788 | $54.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $157,290 | $75.6 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$91,030
Gross Pay
Real Wage (Purchasing Power)
$91,030
Adjusted for COL (100)
For individuals considering a move to Springfield, MA, the average annual salary of $91,030 aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of an Insurance Sales Agent's salary in Springfield is equivalent to the national average, offering a stable financial foundation without the burden of higher living expenses.
Job Market Context
690
Total Jobs
3.476
Per 1K Jobs
1.14
Location Quotient
With a location quotient of 1.14, Springfield, MA has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
Springfield, MA, exhibits a Location Quotient of 1.14 for Insurance Sales Agents, indicating a slightly higher concentration of these professionals compared to the national average. This suggests a competitive yet well-established market where demand for skilled agents is present, offering opportunities for both new entrants and seasoned professionals.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Amherst Town-Northampton, MA Insurance Sales Agents Salary | $94,060↑ 3% | 18 mi |
| Hartford-West Hartford-East Hartford, CT Insurance Sales Agents Salary | $111,340↑ 22% | 25 mi |
| Connecticut nonmetropolitan area Insurance Sales Agents Salary | $103,130↑ 13% | 37 mi |
| Worcester, MA Insurance Sales Agents Salary | $94,790↑ 4% | 39 mi |
| Pittsfield, MA Insurance Sales Agents Salary | $96,030↑ 5% | 44 mi |
Comparing salaries near Springfield, MA
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Springfield, MA?
The median annual salary for a Insurance Sales Agents in Springfield, MA is $91,030. This typically ranges from $47,910 for entry-level positions to $157,290 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, MA is 11.7% higher than the national median of $81,510.
Is Springfield, MA a lucrative place for Insurance Sales Agents?
Yes, Springfield, MA offers a lucrative environment for Insurance Sales Agents.The average salary of $91,030 significantly exceeds the national average, and with a Cost of Living Index of 100, your earnings maintain strong purchasing power.
Is Springfield, MA a good place to live for Insurance Sales Agents?
The Cost of Living Index in Springfield, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, MA?
Some top paying nearby cities include Amherst Town-Northampton, MA ($94,060) and Hartford-West Hartford-East Hartford, CT.
How does the Springfield, MA salary compare to the national average?
The average annual salary for Insurance Sales Agents in Springfield, MA, is $91,030, which is notably higher than the national average of $81,510.
What is the concentration of Insurance Sales Agents in Springfield, MA?
Springfield, MA has a Location Quotient of 1.14 for Insurance Sales Agents, indicating a slightly higher concentration of these professionals compared to the national average.
How does the cost of living in Springfield, MA affect salary perception?
With a Cost of Living Index of 100, the national average, the $91,030 salary in Springfield offers purchasing power equivalent to the national average, making it a financially stable location.
What does the total local workforce size suggest about job opportunities?
A local workforce of 690 Insurance Sales Agents suggests a substantial and established market, implying consistent demand and potential for career growth within the region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 690 employees in the Springfield, MA area with a job density of 3.476 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, MA