Average Sales and Related Occupations Salary in Richmond, VA
In Richmond, VA, professionals in Sales and Related Occupations earn an average annual salary of $52,950. This figure is slightly below the national average of $54,110, suggesting a nuanced compensation landscape in the region. Local economic factors and industry demand play a significant role in shaping these earnings.
Executive Summary
- Average Salary: $52,950 per year.
- Growth Trend: Salaries have shifted 17.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $92,210.
- Outlook: Richmond, VA boasts a substantial workforce of 59,750 individuals in Sales and Related Occupations, with 91.514 jobs per 1,000 workers. The Location Quotient of 1.06 indicates a concentration of these roles that is slightly above the national average, signaling a healthy and stable demand for sales professionals within the local economy.
Salary Overview
The average Sales and Related Occupations in Richmond, VA earns-2.1%below the national average.
$25.5
$1,018
$4,413
Sales and Related Occupations Salary Trends (2020-2024)
While specific historical data for Richmond's sales sector is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic expansion and evolving sales strategies typically drive incremental increases in compensation for experienced professionals in this field.
Sales and Related Occupations Salary Distribution in Richmond, VA
Salary progression within Sales and Related Occupations in Richmond, VA, typically sees significant increases with experience. Entry-level positions may start closer to the lower percentiles, while senior roles and management positions command salaries in the higher percentiles, reflecting accumulated expertise and a proven track record of success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $27,850 | $13.4 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $39,713 | $19.1 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $36,680 | $17.6 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $66,188 | $31.8 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $92,210 | $44.3 |
Detailed Sales and Related Occupations Market Analysis
Relocation Context
Nominal Salary
$52,950
Gross Pay
Real Wage (Purchasing Power)
$52,950
Adjusted for COL (100)
The average annual salary of $52,950 in Richmond, VA, aligns perfectly with the national average cost of living, which is indexed at 100. This means that the purchasing power of a sales professional's income in Richmond is comparable to that of their counterparts across the United States, offering a stable financial foundation.
Job Market Context
59,750
Total Jobs
91.514
Per 1K Jobs
1.06
Location Quotient
With a location quotient of 1.06, Richmond, VA has a slightly higher-than-average concentration of Sales and Related Occupations roles compared to the national norm.
With a Location Quotient of 1.06, Richmond, VA, presents a job market for Sales and Related Occupations that is slightly more concentrated than the national average. This suggests a competitive yet robust environment where opportunities are readily available, and employers actively seek skilled sales talent.
Nearby Job Markets
Nearby Cities for Sales and Related Occupations
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Sales and Related Occupations Salary | $42,340↓ 20% | 41 mi |
| Northern West Virginia nonmetropolitan area Sales and Related Occupations Salary | $35,100↓ 34% | 41 mi |
| Southwest Virginia nonmetropolitan area Sales and Related Occupations Salary | $40,370↓ 24% | 41 mi |
| Northwest Virginia nonmetropolitan area Sales and Related Occupations Salary | $43,160↓ 18% | 41 mi |
| Southern West Virginia nonmetropolitan area Sales and Related Occupations Salary | $33,580↓ 37% | 41 mi |
Comparing salaries near Richmond, VA
Hiring Sales and Related Occupationss?
Frequently Asked Questions
How much does a Sales and Related Occupations make in Richmond, VA?
The median annual salary for a Sales and Related Occupations in Richmond, VA is $52,950. This typically ranges from $27,850 for entry-level positions to $92,210 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 2.1% lower than the national median of $54,110.
Is Richmond, VA a lucrative place for Sales and Related Occupationss?
Yes, with a stable outlook.Richmond, VA offers a competitive job market for sales professionals with a slightly above-average concentration of roles. The average salary is closely aligned with the national average cost of living, providing good earning potential.
Is Richmond, VA a good place to live for Sales and Related Occupations?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($42,340) and Northern West Virginia nonmetropolitan area.
How does Richmond's sales salary compare to the national average?
The average annual salary for Sales and Related Occupations in Richmond, VA is $52,950, which is slightly lower than the national average of $54,110.
What is the concentration of sales jobs in Richmond, VA?
Richmond, VA has a Location Quotient of 1.06 for Sales and Related Occupations, indicating a concentration that is 6% higher than the national average.
How does the cost of living in Richmond affect the salary?
Richmond's cost of living index is 100, which is the national average. This means the $52,950 salary has purchasing power equivalent to the national average.
Is the job market for sales professionals strong in Richmond, VA?
Yes, the market is robust with a significant local workforce and a slightly higher concentration of sales jobs compared to the national average, suggesting consistent demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 59,750 employees in the Richmond, VA area with a job density of 91.514 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Sales and Related Occupations • Data source: BLS OEWS 2024 •Jobs in Richmond, VA