Average Insurance Sales Agents Salary in St. Cloud, MN
Insurance Sales Agents in St. Cloud, MN, earn an average annual salary of $78,370. This figure is slightly below the national average of $81,510, suggesting localized market dynamics and potentially a different competitive landscape influence compensation in this Minnesota city. The specific economic conditions and demand within the St. Cloud area play a significant role in shaping this salary.
Executive Summary
- Average Salary: $78,370 per year.
- Growth Trend: Salaries have shifted 59.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $152,970.
- Outlook: With a total local workforce of 350 Insurance Sales Agents, St. Cloud presents a moderately sized market for this profession. The Location Quotient of 1.11 indicates a slightly higher concentration of these roles compared to the national average, suggesting a stable, if not growing, demand for insurance professionals within the region. This concentration points to a healthy job market that supports the current workforce size.
Salary Overview
The average Insurance Sales Agents in St. Cloud, MN earns-3.9%below the national average.
$37.7
$1,507
$6,531
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for St. Cloud is not provided, it is reasonable to assume that salaries for Insurance Sales Agents in the region have experienced growth over the past four years, mirroring national trends. Factors such as inflation, evolving insurance products, and increased demand for financial security are likely drivers of salary increases, positioning St. Cloud agents for potential future earning potential.
Insurance Sales Agents Salary Distribution in St. Cloud, MN
Career progression for Insurance Sales Agents in St. Cloud, MN, typically sees a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned agents with established client bases and advanced certifications can command salaries in the upper percentiles. The gap between entry-level and senior roles highlights the substantial earning potential and career advancement opportunities available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $30,330 | $14.6 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $58,778 | $28.3 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $58,960 | $28.3 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $97,963 | $47.1 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $152,970 | $73.5 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$78,370
Gross Pay
Real Wage (Purchasing Power)
$78,370
Adjusted for COL (100)
The average annual salary of $78,370 in St. Cloud, MN, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Insurance Sales Agent's salary in St. Cloud is comparable to the national average, offering a stable financial environment for residents without the added pressure of a high cost of living.
Job Market Context
350
Total Jobs
3.387
Per 1K Jobs
1.11
Location Quotient
With a location quotient of 1.11, St. Cloud, MN has a slightly higher-than-average concentration of Insurance Sales Agents roles compared to the national norm.
The Location Quotient of 1.11 for Insurance Sales Agents in St. Cloud, MN, signifies a job market that is slightly more concentrated than the national average. This suggests that the demand for these professionals is robust relative to other occupations in the area, potentially leading to a competitive environment for new entrants but favorable conditions for experienced agents.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Northwest Minnesota nonmetropolitan area Insurance Sales Agents Salary | $68,570↓ 13% | 17 mi |
| Southeast Minnesota nonmetropolitan area Insurance Sales Agents Salary | $67,210↓ 14% | 17 mi |
| Southwest Minnesota nonmetropolitan area Insurance Sales Agents Salary | $108,140↑ 38% | 17 mi |
| Northeast Minnesota nonmetropolitan area Insurance Sales Agents Salary | $81,280↑ 4% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Insurance Sales Agents Salary | $104,910↑ 34% | 59 mi |
Comparing salaries near St. Cloud, MN
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Frequently Asked Questions
How much does a Insurance Sales Agents make in St. Cloud, MN?
The median annual salary for a Insurance Sales Agents in St. Cloud, MN is $78,370. This typically ranges from $30,330 for entry-level positions to $152,970 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in St. Cloud, MN is 3.9% lower than the national median of $81,510.
Is St. Cloud, MN a lucrative place for Insurance Sales Agentss?
Yes, with a stable cost of living.While the average salary is slightly below the national average, the cost of living in St. Cloud, MN is exactly at the national average, making the $78,370 salary quite competitive in terms of purchasing power.
Is St. Cloud, MN a good place to live for Insurance Sales Agents?
The Cost of Living Index in St. Cloud, MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near St. Cloud, MN?
Some top paying nearby cities include Northwest Minnesota nonmetropolitan area ($68,570) and Southeast Minnesota nonmetropolitan area.
How does the St. Cloud salary compare to the national average?
The average annual salary for Insurance Sales Agents in St. Cloud, MN is $78,370, which is slightly lower than the national average of $81,510.
What is the concentration of Insurance Sales Agents in St. Cloud?
St. Cloud has a Location Quotient of 1.11 for Insurance Sales Agents, indicating a slightly higher concentration of these professionals compared to the national average.
How does the cost of living in St. Cloud affect salary perception?
With a Cost of Living Index of 100, St. Cloud's cost of living is at the national average. This means the $78,370 salary offers purchasing power equivalent to the national average.
What is the total number of Insurance Sales Agents in St. Cloud?
There are approximately 350 Insurance Sales Agents employed in the St. Cloud, MN area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 350 employees in the St. Cloud, MN area with a job density of 3.387 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 St. Cloud, MN