Average Insurance Sales Agents Salary in Upper Peninsula of Michigan nonmetropolitan area
Insurance Sales Agents in the Upper Peninsula of Michigan nonmetropolitan area earn an average annual salary of $49,370. This figure significantly trails the national average of $81,510, reflecting regional economic factors and a smaller market size. The lower compensation is often tied to the specific economic landscape and demand within nonmetropolitan areas compared to larger urban centers.
Executive Summary
- Average Salary: $49,370 per year.
- Growth Trend: Salaries have shifted 5.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $77,660.
- Outlook: The local job market for Insurance Sales Agents in the Upper Peninsula of Michigan nonmetropolitan area appears stable, with a total workforce of 240 individuals in this role. The Location Quotient of 0.72 suggests a slightly lower concentration of these professionals compared to the national average, indicating a potentially less saturated but also less robust demand for new agents.
Salary Overview
The average Insurance Sales Agents in Upper Peninsula of Michigan nonmetropolitan area earns-39.4%below the national average.
$23.7
$949
$4,114
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for this niche role in the Upper Peninsula is not provided, it's reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic recovery and evolving insurance needs likely contribute to modest increases, though regional economic conditions may temper the pace of this growth compared to more dynamic national markets.
Insurance Sales Agents Salary Distribution in Upper Peninsula of Michigan nonmetropolitan area
Career progression for Insurance Sales Agents typically involves a noticeable salary increase with experience. Entry-level positions may start closer to the lower end of the pay scale, while seasoned agents with established client bases and proven sales records can command significantly higher earnings. The percentile gaps in salary distribution reflect this scaling, with senior agents occupying the higher earning brackets.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $28,800 | $13.8 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $37,028 | $17.8 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $46,500 | $22.4 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $61,713 | $29.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $77,660 | $37.3 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$49,370
Gross Pay
Real Wage (Purchasing Power)
$49,370
Adjusted for COL (100)
The nominal average salary of $49,370 in the Upper Peninsula of Michigan nonmetropolitan area aligns precisely with the national average Cost of Living Index of 100. This means that while the take-home pay is lower than the national average, the purchasing power of that salary is equivalent to the national average, suggesting that the lower salary is balanced by lower expenses.
Job Market Context
240
Total Jobs
2.193
Per 1K Jobs
0.72
Location Quotient
Upper Peninsula of Michigan nonmetropolitan area has 0.72x 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 0.72, the market for Insurance Sales Agents in the Upper Peninsula of Michigan nonmetropolitan area is less concentrated than the national average. This indicates that while there are fewer agents relative to the general workforce compared to the national benchmark, the demand might be more specialized or less intense, suggesting a moderately competitive environment.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Saginaw, MI Insurance Sales Agents Salary | $65,040↑ 32% | 30 mi |
| Bay City, MI Insurance Sales Agents Salary | $56,340↑ 14% | 37 mi |
| Lansing-East Lansing, MI Insurance Sales Agents Salary | $70,320↑ 42% | 42 mi |
| Flint, MI Insurance Sales Agents Salary | $64,220↑ 30% | 47 mi |
Comparing salaries near Upper Peninsula of Michigan nonmetropolitan area
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Upper Peninsula of Michigan nonmetropolitan area?
The median annual salary for a Insurance Sales Agents in Upper Peninsula of Michigan nonmetropolitan area is $49,370. This typically ranges from $28,800 for entry-level positions to $77,660 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Upper Peninsula of Michigan nonmetropolitan area is 39.4% lower than the national median of $81,510.
Is Upper Peninsula of Michigan nonmetropolitan area a lucrative place for Insurance Sales Agentss?
No, it is not considered a lucrative market compared to national standards.The average salary of $49,370 is substantially lower than the national average of $81,510, indicating less financial reward in this region.
Is Upper Peninsula of Michigan nonmetropolitan area a good place to live for Insurance Sales Agents?
The Cost of Living Index in Upper Peninsula of Michigan nonmetropolitan area is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Upper Peninsula of Michigan nonmetropolitan area?
Some top paying nearby cities include Saginaw, MI ($65,040) and Bay City, MI.
How does the number of Insurance Sales Agents in the UP compare nationally?
With 2.193 jobs per 1,000 workers, the Upper Peninsula has a slightly lower representation of Insurance Sales Agents compared to the national average, as indicated by its Location Quotient of 0.72.
What is the impact of the Cost of Living on an Insurance Sales Agent's salary in the UP?
The Cost of Living Index is 100, matching the national average. This means the $49,370 salary has the same purchasing power locally as the national average salary does nationally, effectively balancing the lower nominal wage.
How many Insurance Sales Agents are there in the Upper Peninsula of Michigan nonmetropolitan area?
There are approximately 240 Insurance Sales Agents employed within the Upper Peninsula of Michigan nonmetropolitan area.
Does experience significantly affect an Insurance Sales Agent's salary in this region?
Yes, like most sales roles, experience is a key driver of salary. Senior agents with established networks typically earn considerably 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 240 employees in the Upper Peninsula of Michigan nonmetropolitan area area with a job density of 2.193 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 Upper Peninsula of Michigan nonmetropolitan area