Average Insurance Sales Agents Salary in Waco, TX
Insurance Sales Agents in Waco, TX earn an average annual salary of $59,370. This figure is notably below the national average of $81,510, indicating a localized compensation structure. Factors such as the regional economic landscape and the specific demand for insurance professionals within Waco likely contribute to this disparity.
Executive Summary
- Average Salary: $59,370 per year.
- Growth Trend: Salaries have shifted 6.7% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $106,390.
- Outlook: The insurance sales agent job market in Waco, TX, comprises a local workforce of 200 professionals. With a Location Quotient of 0.51, the concentration of these roles is below the national average, suggesting a less saturated but potentially less robust demand compared to national trends. The presence of 1.556 jobs per 1,000 workers indicates a steady, albeit modest, employment base for this profession within the city.
Salary Overview
The average Insurance Sales Agents in Waco, TX earns-27.2%below the national average.
$28.5
$1,142
$4,948
Insurance Sales Agents Salary Trends (2020-2024)
While specific historical data for Waco's insurance sales agents is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic fluctuations and evolving market demands typically drive incremental increases in compensation for skilled professionals, even in localized markets.
Insurance Sales Agents Salary Distribution in Waco, TX
Salary progression for Insurance Sales Agents in Waco, TX, is typically tied to experience and performance. Entry-level positions may start closer to the lower end of the pay scale, while seasoned agents with proven track records and specialized knowledge can command significantly higher salaries. The percentile gaps in earnings reflect this career trajectory, with senior agents potentially earning well above the average.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $29,580 | $14.2 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $44,528 | $21.4 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $43,980 | $21.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $74,213 | $35.7 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $106,390 | $51.1 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$59,370
Gross Pay
Real Wage (Purchasing Power)
$59,370
Adjusted for COL (100)
The average annual salary of $59,370 in Waco, TX, 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 income in Waco is equivalent to the national average, offering a stable financial environment without the premium associated with higher cost-of-living areas.
Job Market Context
200
Total Jobs
1.556
Per 1K Jobs
0.51
Location Quotient
Waco, TX has 0.51x 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 0.51, Waco, TX, has a lower concentration of Insurance Sales Agents compared to the national average. This suggests that the job market is not oversaturated, potentially offering opportunities for skilled professionals. However, it also implies that the demand might be less intense than in regions with a higher concentration, requiring agents to be proactive in their job search and client acquisition.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| North Region of Texas nonmetropolitan area Insurance Sales Agents Salary | $61,770↑ 4% | 41 mi |
| Northwestern Region of Texas nonmetropolitan area Insurance Sales Agents Salary | $42,370↓ 29% | 41 mi |
| Hill Country Region of Texas nonmetropolitan area Insurance Sales Agents Salary | $55,730↓ 6% | 41 mi |
| Coastal Plains Region of Texas nonmetropolitan area Insurance Sales Agents Salary | $51,480↓ 13% | 41 mi |
| Eastern Region of Texas nonmetropolitan area Insurance Sales Agents Salary | $54,920↓ 7% | 41 mi |
Comparing salaries near Waco, TX
Hiring Insurance Sales Agentss?
Frequently Asked Questions
How much does a Insurance Sales Agents make in Waco, TX?
The median annual salary for a Insurance Sales Agents in Waco, TX is $59,370. This typically ranges from $29,580 for entry-level positions to $106,390 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Waco, TX is 27.2% lower than the national median of $81,510.
Is Waco, TX a lucrative place for Insurance Sales Agentss?
No, not exceptionally lucrative compared to national averages.The average salary of $59,370 is significantly lower than the national average of $81,510. While the cost of living is at the national average, the nominal pay does not reflect a highly lucrative market for this profession.
Is Waco, TX a good place to live for Insurance Sales Agents?
The Cost of Living Index in Waco, TX is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Waco, TX?
Some top paying nearby cities include North Region of Texas nonmetropolitan area ($61,770) and Northwestern Region of Texas nonmetropolitan area.
How does Waco's insurance agent job market compare to the national average?
Waco's insurance agent job market has a lower concentration of professionals (LQ of 0.51) and a lower average salary ($59,370 vs. $81,510 nationally), indicating a less dense but lower-paying market compared to the national landscape.
What is the cost of living impact on an Insurance Sales Agent's salary in Waco?
The cost of living in Waco is exactly at the national average (100). This means that the $59,370 salary provides purchasing power equivalent to the national average, making the salary's real value comparable to the national median.
Are there many Insurance Sales Agent jobs in Waco, TX?
There are 1.556 insurance sales agent jobs per 1,000 workers in Waco, TX. While this indicates a presence, the lower Location Quotient suggests it's not a primary hub for this profession compared to national averages.
How much can an experienced Insurance Sales Agent expect to earn in Waco?
While the average is $59,370, experienced Insurance Sales Agents in Waco can expect to earn considerably more, potentially exceeding $70,000-$80,000 or higher, depending on their sales performance, client base, and specialization.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Waco, TX area with a job density of 1.556 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 Waco, TX