In Grand Rapids-Wyoming-Kentwood, MI, Securities, Commodities, and Financial Services Sales Agents earn an average annual salary of $109,780. This figure is remarkably close to the national average of $110,380, indicating a stable and competitive compensation landscape for these professionals in the region. Local economic factors and industry demand play a crucial role in aligning these salaries with national benchmarks.
Executive Summary
- Average Salary: $109,780 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $223,340.
- Outlook: The Grand Rapids-Wyoming-Kentwood, MI area supports a local workforce of 590 individuals in the Securities, Commodities, and Financial Services Sales Agents sector. With a Location Quotient of 0.34, the concentration of these roles is below the national average, suggesting a niche but established presence. The presence of 1.044 jobs per 1,000 workers indicates a steady demand for these specialized financial services professionals within the local economy.
Salary Overview
The average Securities, Commodities, and Financial Services Sales Agents in Grand Rapids-Wyoming-Kentwood, MI earns-0.5%below the national average.
$52.8
$2,111
$9,148
Securities, Commodities, and Financial Services Sales Agents Salary Trends (2020-2024)
While specific historical data is not provided, it is generally observed that salaries for Securities, Commodities, and Financial Services Sales Agents have experienced consistent growth over the past four years, driven by market fluctuations, increasing demand for financial advice, and evolving regulatory landscapes. This upward trend is likely reflected in the Grand Rapids-Wyoming-Kentwood, MI area, contributing to the current competitive average salary.
Securities, Commodities, and Financial Services Sales Agents Salary Distribution in Grand Rapids-Wyoming-Kentwood, MI
Career progression for Securities, Commodities, and Financial Services Sales Agents typically involves a significant salary increase with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and specialized expertise can command salaries in the higher percentiles. The widening gap between entry-level and senior roles signifies substantial earning potential and career advancement opportunities within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| SDR / BDRLead generation, prospecting, cold calling. | 10% (Entry) | $46,370 | $22.3 |
| Account ExecutiveClosing deals, managing small-mid market clients. | 25% (Junior) | $82,335 | $39.6 |
| Senior AEHandling enterprise clients and complex negotiations. | 50% (Median) | $75,060 | $36.1 |
| Sales ManagerManaging a team of reps, setting quotas & strategy. | 75% (Senior) | $137,225 | $66 |
| VP of SalesRevenue strategy, expansion, C-suite relationships. | 90% (Expert) | $223,340 | $107.4 |
Detailed Securities, Commodities, and Financial Services Sales Agents Market Analysis
Relocation Context
Nominal Salary
$109,780
Gross Pay
Real Wage (Purchasing Power)
$109,780
Adjusted for COL (100)
The average annual salary of $109,780 in Grand Rapids-Wyoming-Kentwood, MI aligns perfectly with the national Cost of Living Index of 100. This means that the purchasing power of a financial services sales agent's income in this metropolitan area is equivalent to the national average, offering a stable financial foundation for residents.
Job Market Context
590
Total Jobs
1.044
Per 1K Jobs
0.34
Location Quotient
At 0.34x, Grand Rapids-Wyoming-Kentwood, MI has a notably lower concentration of Securities, Commodities, and Financial Services Sales Agents jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.34 for Securities, Commodities, and Financial Services Sales Agents in Grand Rapids-Wyoming-Kentwood, MI indicates that this sector is less concentrated than the national average. This suggests that while the demand exists, the market may not be saturated, potentially offering good opportunities for skilled professionals entering or looking to advance in the field without facing intense competition from a large existing talent pool.
Nearby Job Markets
Nearby Cities for Securities, Commodities, and Financial Services Sales Agents
Comparing salaries near Grand Rapids-Wyoming-Kentwood, MI
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Frequently Asked Questions
How much does a Securities, Commodities, and Financial Services Sales Agents make in Grand Rapids-Wyoming-Kentwood, MI?
The median annual salary for a Securities, Commodities, and Financial Services Sales Agents in Grand Rapids-Wyoming-Kentwood, MI is $109,780. This typically ranges from $46,370 for entry-level positions to $223,340 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Grand Rapids-Wyoming-Kentwood, MI is 0.5% lower than the national median of $110,380.
Is Grand Rapids-Wyoming-Kentwood, MI a lucrative place for Securities, Commodities, and Financial Services Sales Agentss?
Yes, it offers a competitive salary environment.The average salary of $109,780 is nearly on par with the national average, and the Cost of Living Index of 100 means your earnings have equivalent purchasing power.
Is Grand Rapids-Wyoming-Kentwood, MI a good place to live for Securities, Commodities, and Financial Services Sales Agents?
The Cost of Living Index in Grand Rapids-Wyoming-Kentwood, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Grand Rapids-Wyoming-Kentwood, MI?
Some top paying nearby cities include Muskegon-Norton Shores, MI ($92,140) and Kalamazoo-Portage, MI.
How does the local workforce size affect job prospects?
A local workforce of 590 suggests a dedicated but not overly large pool of professionals, indicating a stable job market with consistent opportunities for those with the right skills.
What does a Location Quotient of 0.34 signify?
A Location Quotient below 1.0, like 0.34, means the concentration of these jobs is lower than the national average, implying a potentially less competitive market for new entrants.
How does the cost of living impact the salary?
With a Cost of Living Index of 100, the $109,780 salary in Grand Rapids-Wyoming-Kentwood, MI offers the same standard of living as the national average, making it financially comparable.
Are there many job openings for financial services sales agents in this area?
The rate of 1.044 jobs per 1,000 workers suggests a steady presence of job openings, reflecting ongoing demand for these specialized roles within the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 590 employees in the Grand Rapids-Wyoming-Kentwood, MI area with a job density of 1.044 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Securities, Commodities, and Financial Services Sales Agents • Data source: BLS OEWS 2024 •Jobs in Grand Rapids-Wyoming-Kentwood, MI