Average Insurance Sales Agents Salary in Worcester, MA
Insurance Sales Agents in Worcester, MA, command an impressive average annual salary of $94,790, significantly exceeding the national average of $81,510. This elevated compensation in Worcester can be attributed to a combination of local market dynamics and potentially higher demand for specialized insurance services within the region.
Executive Summary
- Average Salary: $94,790 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $165,350.
- Outlook: Worcester, MA, supports a local workforce of 820 Insurance Sales Agents, indicating a substantial presence within the community. While the location quotient of 0.76 suggests a slightly lower concentration compared to the national average, the presence of over 800 professionals points to a stable and established job market for this role.
Salary Overview
The average Insurance Sales Agents in Worcester, MA earns+16.3%above the national average.
$45.6
$1,823
$7,899
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 Worcester has experienced steady growth over the past four years, mirroring national trends. Factors such as increasing insurance needs, evolving market regulations, and inflation likely contribute to a positive salary trajectory for professionals in this field.
Insurance Sales Agents Salary Distribution in Worcester, MA
Career progression for Insurance Sales Agents in Worcester typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned agents with proven track records and specialized expertise can command salaries well above the average, reflected in the higher percentiles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $41,030 | $19.7 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $71,093 | $34.2 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $78,300 | $37.6 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $118,488 | $57 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $165,350 | $79.5 |
Detailed Insurance Sales Agents Market Analysis
Relocation Context
Nominal Salary
$94,790
Gross Pay
Real Wage (Purchasing Power)
$94,790
Adjusted for COL (100)
The nominal average salary of $94,790 in Worcester, MA, is perfectly balanced by the local Cost of Living Index, which stands at 100, precisely matching the national average. This means that the purchasing power of an Insurance Sales Agent's salary in Worcester is equivalent to the national standard, offering a stable financial environment for residents.
Job Market Context
820
Total Jobs
2.329
Per 1K Jobs
0.76
Location Quotient
Worcester, MA has 0.76x 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 0.76, Worcester, MA, has a slightly lower concentration of Insurance Sales Agents compared to the national average. This suggests that while the profession is well-represented, the market may not be oversaturated, potentially offering good opportunities for skilled agents to establish themselves and thrive without facing extreme competition.
Nearby Job Markets
Nearby Cities for Insurance Sales Agents
| City | Salary | Dist. |
|---|---|---|
| Massachusetts nonmetropolitan area Insurance Sales Agents Salary | $118,090↑ 25% | 14 mi |
| Providence-Warwick, RI-MA Insurance Sales Agents Salary | $85,450↓ 10% | 37 mi |
| Amherst Town-Northampton, MA Insurance Sales Agents Salary | $94,060↓ 1% | 37 mi |
| Boston-Cambridge-Newton, MA-NH Insurance Sales Agents Salary | $101,760↑ 7% | 37 mi |
| Springfield, MA Insurance Sales Agents Salary | $91,030↓ 4% | 39 mi |
Comparing salaries near Worcester, MA
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Frequently Asked Questions
How much does a Insurance Sales Agents make in Worcester, MA?
The median annual salary for a Insurance Sales Agents in Worcester, MA is $94,790. This typically ranges from $41,030 for entry-level positions to $165,350 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Worcester, MA is 16.3% higher than the national median of $81,510.
Is Worcester, MA a lucrative place for Insurance Sales Agentss?
Yes, Worcester, MA, offers a lucrative environment for Insurance Sales Agents.The average salary of $94,790 significantly surpasses the national average, and the cost of living is on par with the national index, indicating strong earning potential and stable purchasing power.
Is Worcester, MA a good place to live for Insurance Sales Agents?
The Cost of Living Index in Worcester, MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Worcester, MA?
Some top paying nearby cities include Massachusetts nonmetropolitan area ($118,090) and Providence-Warwick, RI-MA.
How does Worcester's salary compare to the national average for Insurance Sales Agents?
Insurance Sales Agents in Worcester, MA, earn an average of $94,790 annually, which is notably higher than the national average of $81,510.
What is the cost of living in Worcester, MA, for Insurance Sales Agents?
The cost of living in Worcester, MA, is exactly at the national average, with an index of 100. This means your salary of $94,790 has the same purchasing power as the national average salary.
Is the job market for Insurance Sales Agents strong in Worcester?
With 820 professionals and a jobs per 1,000 workers rate of 2.329, the market is stable, though the location quotient of 0.76 suggests slightly less concentration than the national average.
How much does experience impact an Insurance Sales Agent's salary in Worcester?
Experience is a key driver of salary growth. Senior agents with extensive experience and a strong client base typically earn significantly more than entry-level professionals, with salary percentiles reflecting this progression.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 820 employees in the Worcester, MA area with a job density of 2.329 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 Worcester, MA