Average Insurance Sales Agents Salary in Springfield, MO
Insurance Sales Agents in Springfield, MO, earn an average annual salary of $58,480. This figure is notably below the national average of $81,510, indicating that local market dynamics and potentially regional economic factors play a significant role in compensation for this profession within the state. The specific economic conditions and demand within Springfield contribute to this salary differential.
Executive Summary
- Average Salary: $58,480 per year.
- Growth Trend: Salaries have shifted 9.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $98,560.
- Outlook: With a total local workforce of 760 Insurance Sales Agents, Springfield, MO, presents a moderately sized employment landscape for this role. The Location Quotient of 1.12 suggests a slightly higher concentration of these professionals compared to the national average, implying a stable, albeit not booming, demand for their services within the region.
Salary Overview
The average Insurance Sales Agents in Springfield, MO earns-28.3%below the national average.
$28.1
$1,125
$4,873
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Springfield, MO is not provided, it is generally assumed that salaries for Insurance Sales Agents have experienced a steady upward trend over the past four years, mirroring national patterns. This growth is typically driven by inflation, increasing demand for insurance products, and the evolving complexity of the insurance market, leading to modest but consistent salary increases.
Insurance Sales Agents Salary Distribution in Springfield, MO
The career trajectory for an Insurance Sales Agent in Springfield, MO, typically involves significant salary growth with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with established client bases and advanced sales skills can command salaries well above the average. The percentile gaps in earnings clearly signify the potential for substantial career progression and increased earning capacity.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $27,390 | $13.2 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $43,860 | $21.1 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $37,150 | $17.9 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $73,100 | $35.1 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $98,560 | $47.4 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$58,480
Gross Pay
Real Wage (Purchasing Power)
$58,480
Adjusted for COL (100)
The average annual salary of $58,480 in Springfield, MO, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary has a purchasing power equivalent to the national average, suggesting that the cost of essential goods and services in Springfield is neither significantly higher nor lower than the typical American city.
Job Market Context
760
Total Jobs
3.408
Per 1K Jobs
1.12
Location Quotient
With a location quotient of 1.12, Springfield, MO has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
A Location Quotient of 1.12 for Insurance Sales Agents in Springfield, MO, indicates a slightly higher concentration of this profession than the national average. This suggests a healthy, competitive market where demand is consistent with the supply of professionals, offering good opportunities for both new entrants and experienced agents.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Joplin, MO-KS Insurance Sales Agents Salary | $66,300↑ 13% | 67 mi |
| Fayetteville-Springdale-Rogers, AR Insurance Sales Agents Salary | $81,590↑ 40% | 91 mi |
Comparing salaries near Springfield, MO
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Springfield, MO?
The median annual salary for a Insurance Sales Agents in Springfield, MO is $58,480. This typically ranges from $27,390 for entry-level positions to $98,560 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, MO is 28.3% lower than the national median of $81,510.
Is Springfield, MO a lucrative place for Insurance Sales Agentss?
No, but it offers average purchasing power.While the average salary of $58,480 is below the national average, the Cost of Living Index of 100 means your earnings will have average purchasing power. The market is slightly more concentrated than the national average, indicating steady demand.
Is Springfield, MO a good place to live for Insurance Sales Agents?
The Cost of Living Index in Springfield, MO is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, MO?
Some top paying nearby cities include Joplin, MO-KS ($66,300) and Fayetteville-Springdale-Rogers, AR.
How does Springfield, MO's salary compare to the national average for Insurance Sales Agents?
The average annual salary for Insurance Sales Agents in Springfield, MO, is $58,480, which is significantly lower than the national average of $81,510.
What is the job market like for Insurance Sales Agents in Springfield, MO?
Springfield, MO has a total workforce of 760 Insurance Sales Agents, with 3.408 jobs per 1,000 workers. The Location Quotient of 1.12 suggests a slightly higher concentration of these professionals compared to the national average.
How does the cost of living in Springfield, MO affect the salary?
Springfield, MO has a Cost of Living Index of 100, which is the national average. This means the $58,480 salary has purchasing power equivalent to the national average, despite being below the national salary benchmark.
What is the career outlook for an Insurance Sales Agent in Springfield, MO?
The market shows a stable demand with a slightly higher concentration of agents than the national average. Experience is a key factor in salary progression, with senior agents earning significantly more than entry-level professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 760 employees in the Springfield, MO area with a job density of 3.408 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, MO